PubMatic, a supply-side platform, this week announced it is moving into the old New York Times building located at 229 West 43rd Street. PubMatic signed a seven-year lease for 18,911 square feet.
"New York City continues to benefit from a booming tech economy, and 229W43 has become a hub for media and technology companies," stated Lindsay Ornstein, a member of the New York Tenant Advisory Services team that represented PubMatic through the transaction.
While it’s not quite “out with the old and in with the new” -- the New York Times recently upgraded to a brand new building -- the announcement offers a tinge of that sentiment.
PubMatic certainly views its new space as more than just an office building. A PubMatic representative said that the company “obviously” thinks thinks there is “poetry” in a publisher-focused ad tech firm “laying down roots in the hallowed halls of the ‘Old Gray Lady.’”
Hyperbole aside, it’s hard to disagree.