Radio Firm Subleases Floor at Shorenstein’s 850 Third
Laura Kusisto Aug. 24, 2010, 8:42 a.m.
850 Third Avenue
Radio One, which caters to urban African-American listeners from Manhattan to Dayton, will take 39,000 square feet in midtown east.
The company specializes in taking over local stations playing stodgy country and classic rock and flooding the airwaves with hip-hop and talk radio. It’s likely to liven things up at 850 Third Avenue, where it joins the Discovery Channel, which occupies five floors of the building.
Radio One will use the entire third floor to house sales staff for its growing TV One and Interactive divisions. It will sublease from law firm Shearman & Sterling, which is cutting its space in half.
“We were very pleased to have helped Radio One capitalize on the present market environment to relocate to premier Class A space,” said Shawna Menifee of Cushman & Wakefield, who represented the tenant along with Paul Glickman.
Asking rents were not disclosed, but office rents in the area are in the mid-$60s a foot on average
The landlord, Shorenstein Properties, was represented by Matthew Astrachan, Mitch Konsker, Jonathan Tootel and Robert Gallucci, also of Cushman & Wakefield.