NEW YORK (CelebrityAccess) – Downtown Music Holdings (Downtown) has today (Aug. 14) announced that it is expanding and relocating to 155 Avenue of the Americas at the intersection of Spring Street and Avenue of the Americas in Soho.
Downtown, which owns, manages and develops multiple businesses within the music industry, has leased 26,399 square feet comprising the top two floors of the building—an expansion that more than doubles their current 10,000-square-foot footprint.
Ross Perlman, Executive Managing Director of real estate firm Newmark Knight Frank (NKF) and NKF Managing Director Ryan Gessin represented Downtown in the transaction. An NKF team led by Executive Managing Director Peter Shimkin, President New York Tri-State Region David Falk and Senior Managing Director Kyle Ciminelli represented ownership.
Commenting on the expansion and move, Perlman, said: “We are pleased to have identified a global headquarters that will support Downtown’s growth and maturity as a firm. 155 Avenue of the Americas offers the perfect modern creative workspace for a company that continues to be at the forefront of today’s fast-changing music industry.”
Justin Kalifowitz, CEO of Downtown Music Holdings, added: “Our business has strong roots here in New York as the global music industry’s cultural and economic center. With our new headquarters just a few blocks from where we first started in Soho, Downtown can continue advancing our mission to create a more equitable and innovative music ecosystem around the world, while supporting the growth of our diverse music industry here at home.”
With operations across North America, Europe, Asia, Australia, and Latin America, Downtown is the world’s leading provider of end-to-end services to artists, songwriters, labels, music publishers and other rights holders. The company also currently manages millions of music copyrights, with a catalog that spans more than 100 years of popular music, including music for film and television, and the single largest independent sound recording catalog in the industry.