330 Hudson interiors/ Image credit: Gensler
NEW YORK CITY—DeVito/Verdi is moving its headquarters into the top floor at 330 Hudson St. The New York-based advertising firm is subleasing 17,175 square-feet, the 16th floor from Cadillac. AEW Capital Management is the building owner.
DeVito/Verdi's sublease begins on June 3 and extends through May 2025. The ad agency is relocating from 100 Fifth Ave., near Union Square to what was the former home of Cadillac.
Originally built in 1910, the building formerly was a warehouse and features high ceilings, floor to ceiling windows with water views and views of the Statue of Liberty. Other building tenants include Deloitte, John Hardy Jewelry and TED Conferences. The neighborhood is fast transforming into an office area for creative companies. Google's Hudson Square Campus comprises three buildings across the street and Disney's new headquarters will also be at Hudson Square.
330 Hudson St. leased to Cadillac which has subleased to Devito/Verdi/ Image credit: Gensler
DeVito/Verdi, which has been voted “Best Agency” six times by the industry group, the AAAA, is moving from a more traditional office layout to an open layout at 330 Hudson. The firm notes this is to reinforce a creative, collaborative culture and to further inspire its creative and digital teams. The agency has created ad campaigns for clients such as Duane Reade, Daffy's, New York Magazine, the ACLU and Empire Kosher Chicken.
Jessica Verdi from Colliers represented the tenant and Zachary Price and John Nugent from CBRE represented the sublandlord.
Devito/Verdi was looking for a prestigious sublease in a one of New York City's most desirable “cool” locations, according to Verdi. “This requirement was challenging due to the lack of inventory,” she adds. “The space is spectacularly built out and recently vacated by GM's Cadillac division.”
In September 2018, General Motors, which owns Cadillac, announced its decision to move Cadillac's headquarters from New York City to Warren, MI on April 1, 2019. The Detroit Free Press had reported the move would put its team closer to the engineering and design hub in Warren.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
