Global Recruiter Doubles Manhattan Footprint in Sublease Deal

The Stagwell Group has secured a 71,239-square-foot sublease with Phaidon International. As a result of the 10-year sublease, the global recruiting firm will roughly double the footprint of its Manhattan office upon relocating from nearby 622 Third Avenue. The new space “was delivered in move-in ready condition,” minimizing “upfront capital investment and construction time;” and will accommodate plans for the hiring and development of 200 additional staff.