15 year renewal keeps media group on Third Ave.

Studley has arranged a 15-year, 30, 932-square-foot lease renewal that will enable ITN Networks, Inc. to maintain its New York headquarters at 747 Third Avenue.

ITN will continue to occupy the entire fifth floor and parts of the third and fourth floors of the Class-A Grand Central officer tower.

According to Studley's Senior Managing Director Daniel Horowitz, ITN, a national media organization, had considered more than 35 other Manhattan locations.

"While ITN examined the possibility of relocation, renewing the lease at 747 Third Avenue was the best, most cost-effective strategy enabling the firm to eliminate a disruptive move and a host of up-front costs."

"In addition to the economics and the efficiencies of remaining at 747 Third Avenue, ITN has enjoyed an amicable 10-plus-year relationship with the landlord, the William Kaufman Organization, that it would like to continue longterm," added Horowitz.

Horowitz and Ira Schuman, executive vice president and co-branch manager of Studley's New York office represented ITN. Greg Gang and Michael Lenchner of Sage Group Associates represented the landlord.

Attorney Scott Schneider of Loeb & Loeb represented ITN Networks, while Marc Silverstein of Nixon Peabody represented the legal interests of the William Kaufman Organization. Located between 46th and 47th Streets in the prime Grand Central submarket, 747 Third Avenue is an approximately 400,000-squarefoot, 38-story Class-A office tower that was built in 1972. Home to a variety of office tenants, the property features an award-winning lobby design, tower views and light on all four sides, a 28-camera security network, and an outdoor public plaza.

ITN utilizes proprietary technology, targeting the local appeal of programs on TV stations across the country, to create for advertisers custom-designed national networks that are more strategically focused than any other national television alternative.