Ogilvy Closes on Long-Term Lease

NEW YORK CITY-Ogilvy New York will move its entire New York City agency and locally based operating units to 636 Eleventh Ave. in 2009. Ogilvy will occupy all of the 11-story, 554,800-sf building that encompasses the entire eastern block on 11th Avenue between West 46th and West 47th streets in a long-term lease signed with owner, the Hakimian Organization and its partners Peykar Brothers Realty & Gorjian Properties.

The building will house all of Ogilvy’s local companies and employees in one building, including Ogilvy & Mather Advertising, OgilvyOne, OgilvyInteractive, Neo@Ogilvy, OgilvyPR, OgilvyAction, the Brand Integration Group, RedWorks and Ogilvy Healthworld. The building will carry the Ogilvy. The agency has hired architect, Gensler, to reconfigure and design the space according to the agency’s specifications.

An unidentified source tells GlobeSt.com that asking rents at the property are $55 per sf. Vice chairman Mitchell Konsker, EVP Paul Glickman and associate Jack Cohen of Cushman & Wakefield represented the Hakimian Organization as the exclusive leasing agent. Ogilvy & Mather was represented by Mary Ann Tighe, Gregory Tosko and Casey Hirschhorn of CB Richard Ellis.