Global talent agency IMG Worldwide has renewed a lease for 90,202 square feet of office space at 304 Park Avenue South, located between East 22nd and East 23rd Streets in Midtown South. According to CoStar Group, IMG moved into SL Green Realty's twelve-storey office building in 2008. The last reported expansion in 2016 saw the company occupy seven floors, expanding its footprint in the 210,000-square-foot building to 130,655 square feet.
The five-year lease extension, announced by SL Green this week, could indicate a significant reduction in IMG Worldwide's office space at 304 Park Avenue South. It remains unclear whether IMG Worldwide will retain the rest of its previous space.
Business Realignment and Space Reduction
In early 2025, IMG Worldwide's business divisions significantly shrank after its parent company, Endeavor, sold its sports media division and event portfolio. IMG Worldwide's fashion and modelling businesses, now operating under the WME Group, including IMG Models, continue to list offices at 304 Park Avenue South.
The company currently occupies a portion of the second floor, as well as the entirety of floors eight, nine, ten, eleven, and twelve, in addition to a penthouse area. A spokesperson for the WME Group did not immediately respond to a request for comment regarding the deal. The terms of the 90,202 square-foot renewal were not disclosed. According to Cushman & Wakefield, average asking rents for Class B office space in Midtown South were $70.47 per square foot in August.
Parties Involved in the Transaction
Brian Goldman, Matthew Leon, and Jason Perla of Newmark represented IMG Worldwide in the lease extension, supported by John Mambrino and David Providenti of Savills. SL Green was represented by its in-house team. Other tenants at 304 Park Avenue South include retailers such as Bath & Body Works, restaurant chain Naya, and Starbucks. Spokespersons for Newmark and Savills did not respond to requests for comment.
