Entertainment Public Relations Firm Takes 12,505 SF at 600 Third Avenue
42West, LLC, the largest independently-owned public relations firm in the entertainment industry, will relocate its New York headquarters from 220 West 42nd Street to 600 Third Avenue in a transaction arranged by Savills Studley.
Savills Studley’s Executive Managing Director Jeffrey Peck and Managing Director Gary Kerper represented 42West in the 12,505-square-foot, long-term transaction.The landlord, L&L Holding Company, was represented in-house by Vice President and Director of Leasing Andrew Wiener.
A bicoastal, full-service public relations agency, 42West has developed and executed innovative marketing and publicity strategies for countless movies, television shows, individual actors, filmmakers, recording artists, and authors. Residing at the intersection where consumer, entertainment, and pop culture worlds collide, 42West also works with consumer brands to navigate the unfamiliar entertainment industry to create cultural relevance, drive buzz, and ultimately increase sales.
“42West has enjoyed tremendous growth since its founding by Leslee Dart in 2004. As such, it’s vital that our new offices accommodate both current and future staffing needs. Moreover, 42West sought offices reflective of the high-quality service that we deliver to our clients,” said Tom Reno, Chief Operating Officer of 42West.“We’re thrilled that Savills Studley found us space that’s buildable to our specifications, and through a landlord that’s willing to partner with us. We’re very excited to begin this next chapter in 42West’s evolution.”
“L&L understands from a brokerage and tenant perspective what it takes to make a deal,” Peck said.“The Grand Central submarket has a high availability rate and many choices as to available space.With this transaction the building gets a quality tenant and 42West upgrades its location while being able to attract and retain employees in a dynamic new environment.”
“We are thrilled to welcome 42West to 600 Third, which recently concluded a major renovation and modernization,” said Wiener of L&L Holding.“Like a number of other creative companies who have recently signed long-term leases, 42West was attracted to 600 Third for its ability to combine a sleek office environment with extraordinary views and the convenience of being located just steps from Grand Central.”
600 Third Avenue provides tenants with incomparable value in a convenient, central location with easy access to Grand Central Terminal and four major subway lines.The building offers outstanding views and recent lobby, plaza, and building system renovations.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services.With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
For more information, please visitwww.savills-studley.comand follow us on LinkedIn and Twitter @SavillsStudley.
About L&L Holding Company
Manhattan-based L&L Holding Company, LLC is a privately-owned real estate investment company with a current portfolio exceeding 6 million square feet of office space in Manhattan. Through joint ventures with select institutional partners, our strategy is to identify, acquire, and develop prime but underperforming real estate for the purpose of maximizing its value. L&L provides a broad spectrum of services to its partners including acquisition, disposition, asset management, leasing, accounting, design, construction, and financing. The company’s current portfolio includes many notable properties including 425 Park Ave., 195 Broadway, 200 Fifth Ave., 150 Fifth Ave., 114 Fifth Avenue, Metropolitan Tower and 600 Third Avenue. For more information on L&L, visit their website www.ll-holding.com.
