RealTime IT News

DoubleClick Reportedly to Relocate in New York City

Ad network DoubleClick Inc. will move to another New York City location in a $67 million real estate transaction that includes as much as $4 million in tax breaks and other incentives, according to published reports.

The New York Daily News said that DoubleClick will move from two locations in the financial district to 450 West 33rd St., where it will lease space from John Hancock Mutual Life Insurance Co. The report said it was the largest ever incentive deal for a new media company in Manhattan.

The company will get $1 million in city and state incentives if it maintains its current staff of 260 during its 15- year lease, plus as much as $3 million more if it adds at least 704 more jobs, the newspaper said.