NEW YORK CITY—Digital content company DEFY Media has signed a lease for more than 14,000 square feet of space at Joseph P. Day Realty Corp.'s 366 Fifth Ave.
The firm has already relocated to the property from 498 Seventh Ave., which is owned by George Comfort & Sons. DEFY Media signed an eight-and-a-half year lease to occupy the entire 14,400-square-foot fourth floor of the 12-story 167,135-square-foot office building. The asking rent, according to Joseph P. Day Realty, was $57-per-square-foot.
“366 Fifth Avenue continues to evolve,” says Joseph P. Day Realty SVP Richard Brickell, who represented the ownership in the transaction. “Conveniently located in close proximity to Grand Central Terminal, Port Authority and Penn Station, as well as may high-end restaurants, retailers and hotels, we continue to attract evolving and established brands like DEFY Media looking to make a mark on Fifth Avenue.”
DEFY Media is a creator, distributor and owner of Gen Z and millennial-focused digital content. The company has built global media brands including SMOSH, ScreenJunkies and Clevver, which generate more than 750 million video views each month. In addition to New York City, the company also has offices in Los Angeles, San Francisco, Chicago and Shanghai.
Back in September 2016, the company announced it had closed Series B funding with a $700-million investment, led by Wellington Management Company, LLP. At the time of the announcement, other investors in DEFY Media included: ABS Capital, Lionsgate, Viacom and Zelnick Media Capital.
Originally built in 1907, the ownership of 366 Fifth Ave. recently completed a new lobby upgrade that includes a living “green wall” and, new stone flooring. Notable tenants at the property include Amiee Lynn, Colors In Optics, Fossil, Isaco International, Majorica Jewelry and ShedRain.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
