The New York Mets might have blown the World Series, but the network that broadcasts most of its games is getting a consolation prize: brand new offices.
SNY, the cable network that also covers the New York Jets and other New York teams, is ditching the Time-Life Building between East 50th and East 51st Streets and heading Downtown to 4 World Trade Center.
The network signed an 83,000-square-foot deal for office and studio space at the 72-story Financial District building, according to a press release from landlord Silverstein Properties. SNY’s lease will be for the 49th and 50th floors and it runs for 17 years.
Asking rents in the building start in the mid-$70s per square foot, and increase on higher floors.
SNY’s parent company Sterling Equities and Sterling Project Development—which are both led by Mets majority owner Fred Wilpon—will also move to the 2.3-million-square-foot tower for its Manhattan offices.
“This is a historic move, as 4 World Trade Center is the perfect home for SNY and Sterling,” Mr. Wilpon said in prepared remarks. “Downtown has undergone a total transformation at the World Trade Center, and we’re excited to be involved.”
Jeremy Moss, Silverstein’s head of World Trade Center leasing, represented the landlord in-house, along with a CBRE team of Steve Siegel, Mary Ann Tighe, Adam Foster, Steve Eynon, Evan Haskell and David Caperna. Scott Gottlieb, Ken Meyerson, Chris Corrinet, Dan Wilpon (Mr. Wilpon’s nephew), Dan Knopf and Zach Weil of CBRE represented SNY in the move.
SNY is expected to more than double its current footprint. The 10-year-old channel currently leases about 39,000 square feet at the Time-Life Building, or 1271 Avenue of the Americas, according to Bloomberg, which reported in August that the company was close to a 4 WTC relocation.
By leasing at 4 WTC, the cable network is the latest in media companies’ great migration Downtown that started with Condé Nast’s move to 1 World Trade Center. The Associated Press is slated to move into new offices at Brookfield Place, leaving behind its current offices at 450 West 33rd Street (both properties are owned by Brookfield Property Partners), as Commercial Observer reported in August.
“This [deal] confirms Downtown’s emerging status as the new media capital of America,” Silverstein Chairman Larry Silverstein said in prepared remarks. “Nothing says New York more than the World Trade Center, SNY and the Mets!”