Two Trees Management has secured a deal with an advertising firm in the Flatiron District. The firm, known as Clinch, has signed an 8,705-square-foot lease at 50 West 23rd Street, expanding from its current headquarters at 37 West 20th Street. The terms of the lease, including the asking rent and length, were not disclosed.
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Average asking rents in Midtown South were approximately $82 per square foot in the second quarter of 2023, according to a report from Colliers.
Clinch, which utilizes artificial intelligence technology in its digital ad targeting strategy, will occupy a 13-story, Beaux-Art cast-iron building within the next month. As part of the new space, Clinch will have access to an 11,000-square-foot landscaped roof deck.
The names of the brokers representing Clinch in the deal were not immediately disclosed. Alyssa Zahler and Jarad Winter represented Two Trees in-house but did not provide further details.
Other tenants in the building include Foursquare, Kaiyo, and Trustpilot, with Trustpilot recently taking up 34,000 square feet on the 10th floor in May 2022.
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