Online ad company GumGum heads to 1245 Broadway – Trade Observer

SDM development‘s boutique office project at 1245 Broadway attracted another tenant with an advertising agency GumGum taking up an entire floor, developers told Commercial Observer.

GumGum, which specializes in using artificial intelligence for targeted online advertising, signed a five-year, 6,500-square-foot lease for tower-level offices and terrace at the Midtown South property . A spokesperson for the project refused to provide the requested rent.

The business will move from its current Flatiron home to 5 West 19th Street. CEO Phil Schrader said in a statement that “our intention with the space is not only to build a common space for our team, partners and clients to come collaborate, but an office space that is environmentally friendly and focused on sustainability, including a community garden on the incredible private terrace. »

SMD and Corem Real Estate Group recently completed the 23-story, 200,000 square foot office building at the corner of West 31st Street and Broadway. Other tenants of the property include 101 studios, A24, Avalanche Studios and a restaurant yet to be named from Matthew Kenney Kitchen.

Paul Amrich and Neil King of CBRE represented the owners in the transaction. Matthew Siegel of Newmark handled the case for GumGum. Spokespersons for the two brokerages did not immediately respond to requests for comment.

Rebecca Baird-Remba can be reached at [email protected].

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