Havas Health, a global health and wellness communications network, has announced a significant expansion of its Midtown Manhattan headquarters. The company, which develops advertising, PR, and marketing campaigns for health brands, signed a 15-year lease. This includes the renewal of its existing 189,461 square feet at 200 Madison Avenue, plus the additional leasing of 64,657 square feet.
This transaction, which extends at least until 2041, increases the health company's total space to 254,118 square feet. This spans five floors of the 26-storey office building, located seven blocks south of Grand Central Terminal. The property is owned by George Comfort & Sons, along with Loeb Partners Realty and Jamestown.
Long-Term Commitment and Amenity Offering
According to the owners, average rents for available office space in this building are between $70 and $75 per square foot. Havas, founded in 1835 and one of the largest communications groups worldwide, has been a tenant at 200 Madison Avenue since the late 1990s.
Peter Duncan, President and CEO of George Comfort, commented on the agreement, emphasising that Havas Health’s growing, long-term commitment to 200 Madison Avenue demonstrates the appeal of the welcoming and amenity-rich environment they cultivate for tenants. He added that Havas has been a valued tenant for almost three decades, and they are proud to support the next chapter of its success in this tower.
The owners were represented internally in this transaction by Peter Duncan and Alexander Bermingham. David Falk and Jason Greenstein of Newmark advised the tenant. A Newmark spokesperson did not immediately respond to a request for comment.
Extensive Modernisations and Tenant Structure
George Comfort recently completed a modernisation of the office tower's entrance and lobby. A new amenity centre is also currently under construction, combining indoor and outdoor areas on the 10th floor. This centre will span 11,000 square feet and will include conference rooms, a games area, a lounge, and event spaces. According to the landlord, it will also feature an outdoor garden area.
- —Architecture firm Spectorgroup
- —Law firm BraunHagey & Borden
- —Fitness brand TMPL (retail space)
- —Furniture store Roche Bobois (retail space)
