NEW YORK CITY-Colliers International announced Tuesday it has completed a long-term, 220,000-square-foot expansion and extension for AppNexus at 28 & 40 W. 23rd St. The building owners have spent the last several years reinventing the asset from Marc Ecko's former headquarters into a state-of-the-art destination for digital, technology, and creative firms, with AppNexus as the new anchor tenant.
AppNexus began its operations at 28 & 40 W. 23rd with an initial 24,500 square feet less than three years ago. The firm, expanded the complex in multiple stages to 90,000 square feet. With this latest round of leasing, AppNexus will now occupy approximately 220,000 square feet.
In addition, lease agreements for all of the existing AppNexus space in the two buildings have been extended to run co-terminus with the newly leased space, for ten years.
“Watching AppNexus grow before our very eyes has been a wonderful experience,” says Andrew Roos, vice chairman of Colliers International tri-state, in the announcement. “We have gone to great lengths to create a campus-style complex that is appealing to digital, media, and fashion companies.”
Roos leads the building's leasing efforts on behalf of the owners, which include the Cohen, Roos, and Carmel families. Michael Cohen, president of Colliers International tri-state, also represented the leasing efforts on behalf of the owners.
The new lease calls for an additional 130,000 square feet, including the entire second floor, which stretches across both sides of the conjoined buildings, as well as 43,000 square feet—including a mezzanine—on the fifth floor, and 19,600 square feet on the sixth floor, which includes the penthouse. AppNexus is scheduled to move into the new, expanded space in the third quarter.
Also home to Home Depot, Nike, and the InterPublic Group, 28 & 40 West 23rd Street is a cast-iron building with new lobbies on both the 22nd and 23rd Street sides, and will also soon have its cooling towers upgraded, another draw for technology and other companies.
Mark Weiss, vice chairman, and Rob Eisenberg, senior managing director of Newmark Grubb Knight Frank, represented the tenant in the transaction.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
