In a recent spate of activities signaling a resurgence in the Manhattan office lease market, DAZN, a London-based sports streaming service, has secured a 10,000-square-foot lease on Park Avenue South. According to Crain's New York, the company will be occupying the entire 14th floor of 470 Park Ave. South, a property under SJP Properties. The move expands DAZN's footprint in the area, which already includes a significant office space at 1 World Trade Center.
Meanwhile, digital media firm Ziff Davis is also making strides, having inked a lease for 23,038 square feet at 360 Park Avenue South. This move will see Ziff Davis relocating from its current corporate offices at 114 Fifth Avenue to a full floor in the BXP-managed building, as reported by CBRE. With amenities that meet the needs of modern businesses, both leases come amidst a Midtown South mini-boom in office space uptake.
DAZN's choice for the new location was influenced by the recently renovated state of the building and its amenities, as stated by Grant Sprigings, the company's head of property and facilities. The building at 470 Park Ave. South features a tenant lounge and an outdoor courtyard, amongst other drawcards. While details on whether the Park Avenue South lease will replace their World Trade Center location remain unclear, the firm has referred to the new office as a U.S. corporate hub.
Ziff Davis' shift to 360 Park Avenue South represents a growing trend of companies seeking spaces that cater to progressive work environments. BXP has invested significantly in the building with a $100 million capital improvement campaign, introducing all-new amenities such as a garden-level amenity center, a roof deck bar, and quality food and beverage options. "We're building a top-notch workplace that's all about convenience, experience, and functionality," Hilary Spann, Executive Vice President, New York Region at BXP, told CBRE.
