The Marshall Project Doubles Its Office Size
Danielle Schlanger March 23, 2015, 2:03 p.m.
The Marshall Project, the nonpartisan news organization focused on covering the country’s criminal justice system, has doubled the size of its office to 8,000 square feet at the CitySpire Center in Midtown.
According to CBRE, the Marshall Project has signed a five-year lease for part of the seventh floor at Tishman Speyer’s 156 West 56th Street between Avenue of the Americas and Seventh Avenue. The organization is expected to move into its new space next month from 250 West 57th Street, only blocks away from the CitySpire Center, where it now occupies roughly 4,000 square feet.
Matt McBride, a senior vice president at CBRE, and Rob Kluge, a senior associate at the firm, represented the Marshall Project in the transaction.
As of last November, the organization had 25 full-time employees on staff, according to an article published by The New York Times. Mr. McBride told Commercial Observer the staff will likely “double in size, give or take…as it gets off the ground.”
Mr. McBride also shared that, that after a months-long search, fate intervened to help the Marshall Project secure its new space.
“Tishman Speyer had presented the space to another client of mine, which it didn’t work for. And because the Marshall Project is a block or two away from CitySpire, the light bulb went off,” said Mr. McBride, who immediately believed the floor plan would work for the nonprofit. “So we got the Marshall Project over there and we got a deal within 30 days.”
Mr. McBride noted that the office features brand-new built space that required very little capital to be invested. The office also has an approximately 1,000-square-foot terrace.
“All the stars aligned,” Mr. McBride said.
CBRE declined to provide asking rents.
Tishman Speyer’s Megan Sheehan represented the landlord in-house. She could not immediately be reached for comment.
Led by former New York Times Executive Editor Bill Keller and journalist-turned-hedge fund manager Neil Barsky, the Marshall Project made waves in the journalism world last year when it announced it would become the latest single-issue digital news startup. As part of its mission, the Marshall Project works to “amplify the national conversation about criminal justice” through storytelling.
The Marshall Project did not immediately respond to a request for comment.