Another Media Company Relocating to Empire State Building
By Terence Cullen September 22, 2015 4:37 pm
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A trade publisher has inked a deal for part of the 60th floor of the Empire State Building, which continues to become a haven for tech and media firms.
BNP Media, which produces trade publications, conferences and market research, is taking 13,171 square feet at 350 Fifth Avenue between West 33rd and West 34th Streets in a direct lease with landlord Empire State Realty Trust, according to CBRE. The lease is for seven years and the asking rent was $70 per square foot.
The Michigan-based company’s New York office is currently located at the McGraw-Hill Building at 1221 Avenue of the Americas between West 48th and West 49th Streets. BNP Media is slated to move in at the end of November, according to CoStar. By signing the media company, ESRT adds to its cadre to technology, advertising, media and information, or TAMI, tenants that it’s lured to the iconic skyscraper.
Anthony Dattoma of CBRE represented the tenant, while William Cohen, Ben Shapiro and Kara Luwisch of Newmark Grubb Knight Frank represented ESRT. An NGKF spokeswoman did not immediately return a request for comment.
“They were attracted by the location, access to major transportations hubs and a spectacular turn-key opportunity,” Mr. Dattoma said in a statement.
By far the largest tech tenant in the 84-year-old Empire State Building is social business network site Linkedin, which leases 280,000 square feet. In July, the company nearly doubled its space from the 150,000 square feet it already occupied. Media General, which operates TV stations across the country, in January inked a deal for nearly 26,800 square feet, or the whole 62nd floor. App builder Workday signed a lease in April for 21,400 square feet—relocating from ESRT’s 1 Grand Central Place.
The BNP Media deal closed in August, according to CoStar. In a press release earlier this month, BNP Media announced that the move was part of its recent purchase of trade publication Architectural Record.
“These extraordinary publications have a magnificent reputation and unparalleled reach in their industries. With new purpose, energy and offerings, we wanted our regional staff to have a fresh, upscale and re-energized work space to match,” said Co-Chief Executive Officers Harper, Mitchell and Taggart Henderson in prepared remarks. “The Empire State Building is an Art Deco masterpiece, one of the world’s most prestigious business addresses.”
