Trade Desk Signs 96,000 SF Lease at Soon to be Revitalized Grace Building
Brookfield also reports that it plans to undertake capital improvements at the iconic property that will include improvements to the lobby, a transformed public plaza and the addition of premier amenities.
NEW YORK CITY—Global advertising tech firm The Trade Desk has signed a nearly 96,000-square-foot lease at the Grace Building here.
The lease deal totals 95,580 square feet for the top three penthouse floors of the 1.6-million-square-foot 49-story tower building owned by Brookfield Properties and the Swig Company.
Brookfield also reports it plans to undertake capital improvements at the iconic property that will include improvements to the lobby, a transformed public plaza and the addition of premier amenities. The LEED Gold-certified office building features 42,000 square feet of retail space and a 30,000-square-foot outdoor plaza. At press time, the cost of the renovations was not divulged by the building ownership or when it expects to complete the aforementioned building improvements.
“We are excited to welcome The Trade Desk, a company defining the next generation of advertising in the digital age, to our esteemed roster of tenants at the Grace Building,” says Ben Brown, EVP, Brookfield Property Group. “The Grace Building continues to attract some of the world’s most innovative and sophisticated companies thanks to its central midtown location, spectacular views of Bryant Park, excellent access to transit, and a singular public plaza that is soon to be transformed in Brookfield’s signature placemaking style.”
The Trade Desk, which is headquartered in Ventura CA, currently houses its New York City operations on the fifth floor of 2 Park Ave.
“This move is a testament to our company’s continued growth and highlights our commitment to the important New York market,” says Rob Perdue, chief operating officer of The Trade Desk. “We are looking forward to building out an inspirational and collaborative space that our employees in New York will enjoy for years to come.”
Brookfield Properties was represented by Ken Rapp, Peter Turchin, Sarah Pontius, Zak Snider and Cara Chayet at CBRE as well as in-house by Duncan McCuaig and Alex Liscio. The Trade Desk was represented by Carlo Brignardello, Richard Selig and Peter Sabesan of Cresa.
The planned capital program calls for new seating, greenery and event programming through Arts Brookfield in the public plaza. By removing an existing brick wall barrier between the plaza and 1100 Avenue of the Americas, which Brookfield acquired in 2017, a visual connection between the plaza and Bryant Park will be created for the first time, Brookfield states.
The lobby at the Grace Building will be modernized and activated with new seating and a more contemporary aesthetic with bronzed mirrored glass surrounding a modern seating area, Brookfield states.