NEW YORK CITY—Yet another publishing firm is migrating Downtown, and a law firm is reportedly close to taking the soon-to-be-vacated Midtown space.
McGraw Hill Financial plans to move about 250 employees to Lower Manhattan from 1221 Ave. of the Americas, the Midtown building that bears its name, according to Bloomberg.com. The move will help the company “consolidate our real estate footprint, enhancing collaboration by bringing more of our employees together and lowering our future costs,” says a McGraw Hill spokesman. The tower's landlord is the Rockefeller Group, which did not respond to a request for comment by press time.
Most senior management, human resources and finance workers will relocate to 55 Water St., the current home of the company's Standard & Poor's division, Bloomberg reports. McGraw Hill also has held preliminary talks with the developers of the World Trade Center and Hudson Yards to relocate once its downtown lease expires, according to three people with knowledge of the discussions.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
