Conservative Media Firm Newsmax Expands in Midtown East
By Chava Gourarie October 4, 2019 1:43 pm
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Florida-based Newsmax, a conservative media firm, is quintupling the size of its Manhattan office.
The company will relocate its studios to Cohen Brother Realty’s 805 Third Avenue in Midtown East, where it will sublet 24,185 square feet from Meredith Corporation through 2026, the New York Post first reported. The media firm will occupy the 22nd floor.
They will be moving from a 5,000-square-foot space at 8 West 40th Street.
Meredith left its Midtown offices after it acquired Time Inc. in 2018 and relocated to Time’s new offices at 225 Liberty Street in Brookfield Place. JLL (JLL)’s Frank Doyle, Randy Abend and Betsy Buckley represented Meredith in the transaction, and JLL’s Dan Posy and Peter Michailidis represented Newsmax.
Meredith also expanded an existing sublease with private equity firm Gen II Fund Services, adding an additional 22,109 square feet to the firm’s 48,000 square feet, which it leased in 2018, Commercial Observer reported at the time.
CBRE (CBRE)’s William Iacovelli represented Gen II in both transactions.
The asking rent on Gen II’s first lease was $63 per square foot, according to the New York Post. JLL and CBRE did not reply to requests for confirmation, or for updated asking rent. With these two new transactions, Meredith has subleased almost all its 200,000 square feet at the building. In addition to the previous Gen II lease, Kroll Bond Rating Agency assumed 95,200 square feet in May 2018, per CO.
