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New York Times Puts 155,000 SF up for Lease

NEW YORK CITY-Amidst third quarter results that show falling profits, the publishing company decides to lease five floors at 620 Eighth Ave.

By Katie Hinderer | Updated on October 24, 2006

NEW YORK CITY-The New York Times Co. will lease 155,000 sf of space in its portion of the yet-to-be-completed 620 Eighth Ave. building, according to Gregory Tosko, vice chairman in CB Richard Ellis’ Consulting Group. The NYT and Forest City Ratner Cos. are developing the 1.5-million-sf, 52-story class A office building projected to be completed early next year.

The NYT was slated to take the first 29 floors, with FCRC responsible for leasing the remaining 700,000 sf, but it has surrendered floors 23 through 27 to the tenant market. At this point there is no potential tenant, according to Tosko, who will handle the spaces marketing and leasing. Marketing of the space should begin in the next 30 to 60 days. A asking rate has not been established but Tosko tells GlobeSt.com that the estimates in the mid-80s aren’t far from the mark.

The 155,000 sf of space could potentially house several users, according to Tosko, who says the NYT would “consider different sizes and different terms.” Tenants could occupy the space by the end of this year.

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