By: E&P Staff
Before construction has even finished, The New York Times Co. is looking for a tenant to occupy five floors at its new corporate headquarters in New York City, according to a report on the Web site of Crain?s New York Business.
Originally slated to occupy the first 29 floors, the Times Co. is now leasing out 155,000 square feet on the 23rd through 27th floors, reported Crain?s. The article noted that the publishing company recently reported a 39% drop in its third-quarter profits.
The remaining floors of the 52-story building at 620 Eighth Ave., between West 40th and 41st streets, will be leased out by developer Forest City Ratner. More than 75% of the remaining 700,000 square feet have already been leased, said Crain?s.
Although no official asking price for the New York Times? five floors has been released, according to the article, the price is estimated to be $85 a square foot.