Advertising tech firm MediaMath is shutting down, potentially leaving a nearly 100K SF hole in Lower Manhattan’s office market.
The advertising technology firm filed for Chapter 11 bankruptcy protection last week after its attempts to woo a buyer or investor failed, The Wall Street Journal first reported.
MediaMath signed a 106K SF, 15-year lease in 2014 with developer Silverstein Properties to anchor 4 World Trade Center. It owes Silverstein $2.5M in rent payments, according to its bankruptcy filing. As part of the proceedings, MediaMath asked a Delaware bankruptcy judge to reject the lease.
The company wrote in its request that it no longer occupies its office in the building…