Publisher Shrinks Office Space by More than 50 Percent With Move to 1 Worldwide Plaza
Prometheus Global Media, the publisher of AdWeek, Billboard and Mediabistro.com, is moving from Noho to Times Square’s 1 Worldwide Plaza in a 10-year deal that reduces its office space by more than 50 percent.
The company will leave its 80,000-square-foot digs at 770 Broadway in August for a roughly 33,000-square-foot space on the 29th floor at the building between West 49th and West 50th Streets on Eighth Avenue, The Real Deal reported. The asking rent was in the low-$70s per square foot.
George Comfort & Sons’ Peter Duncan and Matt Coudert represented the landlord, George Comfort & Sons, RCG Longview, DRA Advisors and New York REIT, in the deal. Newmark Grubb Knight Frank’s Chris Mongeluzo and E.N. Cutler represented Prometheus. Mr. Duncan didn’t immediately respond to Commercial Observer’s request for comment and nor did a spokeswoman for NGKF.
Prometheus’ lease reportedly brings the 47-story, 2.1-million-square-foot building to 100 percent occupancy. Tenants include Rubenstein Associates, Cravath, Swaine & Moore, Nomura Securities International, WNET, CBS TV and M. Shanken Communications, the publisher of specialty publications such as Cigar Aficionado and Wine Spectator.