Midtown Tower 95 Percent Leased Following New Deal with PubMatic and Extension with Hazen and Sawyer
George Comfort & Sons, Inc. announced today that it has finalized two lease agreements totaling 104,000 square feet at 498 Seventh Avenue, its 25-story office tower at the epicenter of Times Square South.
In the larger of the two deals, George Comfort & Sons has signed a new 60,000-square-foot lease with PubMatic, Inc. The public technology company is a subtenant at 498 Seventh Avenue, currently occupying the entire 18th floor of the tower including private outdoor space. Under the long-term direct agreement, the firm will remain on the 18th floor and expand its footprint to the entire 19th floor, beginning in the first quarter of 2025.
In addition, George Comfort & Sons has signed a long-term lease extension with Hazen and Sawyer, keeping the headquarters of this engineering firm at 498 Seventh Avenue through at least 2035. Hazen provides technical services for water projects across the US. A tenant at the tower since 1999, Hazen and Sawyer will continue to occupy 44,000 square feet across the entire 11th floor.
“498 Seventh Avenue continues to attract and retain companies with its light-filled workspaces, flexible floorplates, convenient amenities and unmatched location at the center of city’s most important transit hubs,” said George Comfort & Sons President and CEO Peter S. Duncan. “PubMatic’s decision to stay and grow at 498 Seventh is a testament to the premium experience we provide at the tower. And we are pleased to continue our longstanding relationship with Hazen and Sawyer, an important component of the ecosystem of leading professional services firms that have made the tower their home.”
Following these two agreements, George Comfort & Sons has raised the occupancy level at the 960,000-square-foot tower to 95 percent. Notable tenants at 498 Seventh Avenue include engineering firm Cosentini Associates, construction specialists Milrose Consultants, design firm Dattner Architects and construction firm The McKissack Group.
Working with renowned global design and architecture firm Gensler, ownership has reinvigorated the building’s ground floor to create a more cohesive experience for tenants and guests right from the moment they approach the building. New entrances on Seventh Avenue, 37th Street and 36th Street now provide easy access from all directions to the through-block lobby, which has been elegantly redesigned with modern stone and granite finishes.
George Comfort also created a brand new business lounge and café with grab-and-go coffee kiosk operated by Ground Central Coffee accessible from the main lobby. In addition, retail storefronts at the base of the building have been refreshed.
Owned by a partnership of George Comfort & Sons, Inc., Loeb Partners Realty and JR AMC, 498 Seventh benefits from its location between Penn Station, Grand Central Terminal, Port Authority and Herald Square, providing quick access to multiple subway lines, bus routes, NJ Transit, Long Island Rail Road and Amtrak. Remaining availabilities include the entire 30,000-square-foot 21st floor and a 6,200-square-foot high-end prebuilt suite.
Matt Coudert and Andrew Conrad represented George Comfort & Sons in-house in both transactions. Greg Taubin of Savills represented PubMatic. Curtis Dean of CD Commercial Real Estate Services represented Hazen and Sawyer.
About George Comfort & Sons
Founded in 1919, George Comfort & Sons, Inc. specializes in acquisitions, asset and property management and brokerage, and offers full service leasing, construction, finance and development capabilities. It owns and operates a commercial real estate portfolio in excess of 13.5 million square feet. In addition to its New York headquarters, it has offices in Purchase, NY and Stamford, Conn. For more information about George Comfort & Sons, Inc., please visit www.gcomfort.com.
