LG Ads is moving beyond coworking space to establish its first permanent New York City headquarters, signing a 20,748-square-foot lease at 115 Broadway in Lower Manhattan. The new office more than doubles the company’s New York footprint and reflects its expansion as a global advertising technology business.
Key takeaways
- LG Ads leased 20,748 square feet at 115 Broadway.
- The Lower Manhattan location will serve as the company’s first permanent NYC headquarters.
- The move more than doubles LG Ads’ local footprint compared with its previous coworking arrangement.
- Avison Young represented LG Ads in the lease.
The deal gives the company a dedicated base in the city as it continues to grow. Its real estate advisor said the site suited the team’s needs and longer-term plans.
A permanent base in Lower Manhattan
The new headquarters is at 115 Broadway, placing LG Ads in Downtown Manhattan. The company’s previous New York presence was in coworking space; the new lease marks a shift to a permanent office and more than doubles its footprint in the market.
Avison Young senior director Peter Johnson and associate Ryan Grecco represented LG Ads in the transaction. Johnson cited Downtown’s accessibility, workplace quality and long-term value as factors that can appeal to technology and advertising companies.
Expansion alongside a growing workforce
Avison Young has been LG Ads’ exclusive real estate advisor since 2021, supporting its expansion across multiple markets. Over that period, the company grew from approximately 100 employees to more than 600 globally, according to the firm.
The New York headquarters adds a larger, dedicated workplace to that broader growth. The lease also provides room to align the company’s local office with future hiring plans and business objectives, as described by its broker.