NEW YORK CITY-Marking yet another show of support for Midtown South by the technology sector—and one that brings customization, branding and management of space to a new level—blog-sharing site Tumblr is expanding its headquarters at 35 E. 21st St.
The company is adding approximately 20,000 square feet to its space, bringing its footprint at the building to about 50,000, and it's picking up options to add more square footage in the future, reports Crain's New York Business.
As part of the expansion, Tumblr will create its own lobby by leasing 5,000 square feet of the building's ground floor retail space and converting one of the building's freight elevators into an exclusive elevator for its own passengers. The tenant also will post a sign outside of its new front door, giving it a street-level brand presence. As part of its space, Tumblr also controls the building's roof deck, giving it a nearly 7,000 square foot outdoor space for employees as well as for company events or to entertain guests.
“We do see a day when this could be the Tumblr building,” says Daniel Levine, senior managing director at Newmark Grubb Knight Frank, who represented landlord Centaur Properties in the deal, Crain's reports. Levine worked with Newmark's New York area president David Falk on the lease expansion. Matthew Bergey, first vice president, CBRE, represented Tumblr in the deal.
“They have created a creative working environment, a space that incorporates everything from an internal cafeteria, to meeting rooms, to open-plan bench style work seating, to a private elevator, to outdoor space,” he continues. “They really have everything here.” NGKF representatives did not return GlobeSt.com's requests for comment.
At least part of the impetus for the move was likely the acquisition of Tumblr by Yahoo this summer, equipping the smaller firm—which was only a start-up back in 2010—with cash. Tumblr opted not to relocate to 229 W. 43rd St., the midtown building where Yahoo is headquartered, in order to retain its own space.
“Tumblr is comfortable here, the employees are happy and they've had a lot of success here,” Levine says.
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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.
