Over the weekend, boxes containing office materials from Grey New York’s 3rd Ave. offices were shipped down to 23rd st. and 5th Ave., and a newly refurbished LEED certified Toy Building adjacent to Madison Square Park. The company has been at the 3rd avenue location for 45 years.
Beginning this Friday, Grey’s teams will undertake a staggered move not ending until Thanksgiving. The first to go is the G2 division, then Grey Group on Nov. 13, Grey advertising from Nov. 19 through 20.
“It’s the end of the Ed Meyer‘s era,” writes a source, “and one of the major goals of the new WPP management. A lot of soul searching among Grey employees, especially those who will be losing private offices for tiny desks (not even ‘cubes’ in the new ‘open architecture’ plan).” Everyone’s a critic.
The deal to move the company was signed back in 2007, presumably as a cost cutting measure. The last time AgencySpy was inside the building was for a meeting with then-new ECD Noel Cottrell, the highlight of which was getting lost in the giant maze at 777 3rd Ave.
The company signed a 15-year lease with L&L Holding Co. for the 370,000 sq. ft. space, which occupies the 2nd through 6th floors, and cost $100 million to renovate. Anoter WPP shop occupies the 7th floor of the Toy Building as well, Cohn & Wolfe. The building is 14 stories tall.