News

Back to News

News

July 22, 2014, Article

Article

NY Post: Silverstein’s 4 WTC leases 106,000 sq. ft. to MediaMath

Read on NYPost

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.

 

Back to News

View all Locations
Contact Us
*The following fields are missing.

Thank You

Your request has been received and we will contact you shortly.