WarnerMedia Takes Space in Vornado’s High Line Development
By Nicholas Rizzi September 12, 2019 2:46 pm
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Media conglomerate WarnerMedia inked a deal to anchor Vornado Realty Trust and The Albanese Organization’s recently completed building near the High Line.
WarnerMedia signed a lease for about 20,000 square feet in the 11-story 512 West 22nd Street between 10th and 11th Avenues, The Real Deal reported. Terms of the deal were not available, but Commercial Observer previously reported the 172,000-square-foot building was entering the market with asking rents in the triple-digits.
A spokesman for Vornado declined to comment on the deal and a spokesman for WarnerMedia did not respond to a request for comment. It’s unclear who brokered the deal.
WarnerMedia — which has a 1.5-million-square-foot headquarters nearby at 30 Hudson Yards — plans to use its new offices for its Innovation Lab technology incubator, according to TRD. It will also have public event spaces.
The Albanese Organization picked up the five-story warehouse at 512 West 22nd Street from Highland Capital Management for $54.5 million in 2010, with plans to demolish the building and build a new office tower, The New York Times reported. Vornado later joined the project.
