NorthPoint Digital Subleasing Space From Yahoo for New HQ
Lauren Elkies Schram July 31, 2015, 12:10 p.m.
Digital content provider NorthPoint Digital is moving its headquarters to a full floor previously occupied by Yahoo at The Bertelsmann Building at 1540 Broadway in Times Square, a broker in the transaction told Commercial Observer.
Yahoo leased the entire 41st and 42nd floors at the building between West 45th and West 46th Streets for some of its New York City employees, but following a consolidation move to the former headquarters of The New York Times, the Web company has subleased out its space in the building at 1540 Broadway.
NorthPoint Digital has subleased 18,476 square feet, or the entire 41st floor, through the end of June 2022. The asking rent was in the mid-$60s, said Peter Olans, the president of Trident Commercial Realty, who represented NorthPoint Digital in the deal.
The firm will be moving next week from around 11,000 square feet on part of the fifth floor at 130 West 42nd Street.
The space at 1540 Broadway “was almost in move-in condition for them,” Mr. Olans said. “It was a great floor plan. They were just looking for something different. This is a full floor. The other place was not.”
Other tenants in the building include Viacom, Duane Morris, Forever 21 and Planet Hollywood, according to CoStar.
JLL’s Martin Horner and Bart Lammersen represented Yahoo. They didn’t immediately respond to a request for comment.