NY Post: Silverstein’s 4 WTC leases 106,000 sq. ft. to MediaMath
MediaMath came up with the right number for Larry Silverstein.
The global technology company has signed a lease for 106,000 square feet at 4 World Trade Center, making it the 2.3 million square-foot tower’s first private-sector tenant.
The deal has been in discussions for months but was only finalized Monday morning. MediaMath will move more than 300 employees from three Midtown locations into 4 World Trade’s 44th, 45th and 46th floors, Silverstein said.
The asking rent was in the mid-$70s a square foot, sources said.
The lease is a breakthrough for Silverstein. Skeptics about the need to fully build out the new World Trade Center picked on the fact that 4 World Trade had thus far signed only government tenants, supposedly because private-sector demand wasn’t there. (The city previously signed for 600,000 square feet and the Port Authority for 520,000).
But they might have forgotten the lesson of Silverstein’s earlier 7 World Trade Center, which fully leased up after a slow start.
Silverstein’s World Trade Center president Janno Lieber cited “a major shift in momentum favoring the World Trade Center.” He added that 4 WTC has been getting “serious attention from virtually every major tenant” just six months since it opened.
The whole complex is drawing increasing interest from cutting-edge new media firms — Box Studios offshoot KiDS Creative recently signed a deal for over $90 a square foot at the Port Authority and the Durst Organization’s 1 World Trade Center.
MediaMath was repped by a CBRE team led by Harly Stevens and Mike Rizzo. The landlord was repped in-house by Silverstein’s Jeremy Moss and a CBRE team including Mary Ann Tighe, Stephen B. Siegel, Ken Meyerson and Evan Haskell.