100-104 Fifth Ave./ Image provided by Clarion Partners

NEW YORK CITY—Red Ventures is leasing 23,000 square feet, across a two-floor duplex in Clarion Partners' office building at 100-104 Fifth Ave. They are scheduled to move into their new Union Square location in November 2019.

The technology and digital marketing firm is consolidating and relocating from 1675 Broadway and 251 Park Ave. South. In their new space, Red Ventures will occupy the full 16th floor and part of the 17th floor which includes a private roof deck. The asking rent was $100 per square foot.

The move will unite two of Red Venture's fastest-growing consumer brands, The Points Guy and Bankrate, according to Ric Elias, Red Ventures CEO. “Red Ventures will now have a world-class content hub in the heart of Manhattan, helping consumers make better decisions about travel and finance,” he says.

Margaret Egan, SVP, Clarion Partners adds, “Red Ventures is the latest in a growing roster of high-profile firms, including Apple and Adobe, that have chosen 100-104 Fifth Ave. as a key part of their New York base of operations.”

Grant Greenspan and Michael Kaufman of The Kaufman Organization represented Clarion Partners. Cushman & Wakefield's John Cefaly, Nicholas Dysenchuk, Evan Algier, Thomas Ross and Brian Decillis represented Red Ventures.

Decillis says the deal also required a sublease at 1675 Broadway and a short-term lease with SL Green at 750 Third Ave. He notes renovations at the Fifth Ave. property are expected to be completed in Q4 2019.

Built in 1905, 17-story, 270,000-square-foot office tower has French Gothic architecture and a historic character which brokers say often appeals to tech companies. Clarion Partners and Kaufman note the building's other tenants include Apple, Adobe, Net-A-Porter and Yelp.

Instant Insights /

Red Ventures Relocates to 100-104 Fifth Ave. in Union Square

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