NEW YORK CITY-ALM, Real Estate Media's parent company, has secured approximately 90,000 sf at the landmark 120 Broadway. The integrated media firm will be taking the fifth and sixth floors of the Silverstein Properties asset, also known as the Equitable Building.
The phased move, slated to begin in July 2008, will consolidate four current offices of the company. The locations targeted for the consolidation are: 345 Park Ave. S., 105 Madison Ave., 333 7th Ave. and 270 Lafayette St. This last space is the New York City outpost of Incisive Media, which purchased ALM this past summer.
“This move will enable us to bring together the majority of our New York City-based corporate and business-unit personnel under one roof,” says ALM CEO William Pollak. “It's a strategy that's very important to us. Electronic communication is a wonderful thing, but there's no substitute for being in the same office.” Some 400 people will be brought together at 120, he says.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
