NEW YORK CITY-It’s a match meant to be: wedding lifestyle media group the Knot Inc. is moving from its SoHo location at 462 Broadway to 195 Broadway in the Financial District, sources from Newmark Knight Frank confirm. A Newmark broker tells GlobeSt.com that The Knot signed a 64,000-square-foot lease in L&L Holding Co.’s one million-square foot building here.
The Knot’s COO Carol Koh Evans tells GlobeSt.com that after 11-plus years in SoHo, the company "decided to relocate to a larger office space that could accommodate continued growth" of its websites, books and magazines. The new Broadway location will combine the company's SoHo and DUMBO office spaces together.
The move is also a sign of the growing popularity of media companies relocating to Lower Manhattan. While not finalized, Conde Nast recently signed a letter of intent for one million square feet at One World Trade Center, and the New York Daily News signed a near one million-square-foot lease at 4 New York Plaza, according to the New York City Economic Development Corp. Other Web 2.0 companies here include FDM Group at 14 Wall Street; AppSense at 17 State Street; Flycell at 80 Pine Street; and New York Internet Co. at 100 William Street, according to CB Richard Ellis.
"Lower Manhattan--specifically the Financial District--has certainly been an emerging market for several media and publishing companies recently," Evans says in an e-mail. "With the rebuilding of the World Trade Center and easy access to public transit, Lower Manhattan will continue to be a prime destination for media companies."
Newmark’s Anthony Sciacca, Rob Silver and Neil Rubin represented the Knot in the deal, while Simon Wasserberger and Andrew Wiener represented the building’s ownership. The lease brings the 29-story building to 90% occupancy, according to a statement from L&L. “We’re delighted to welcome one of our country’s outstanding multimedia firms to 195, which has become a magnet for companies in the creative fields of media and advertising, including Omnicom, MPG and Thomson Reuters,” says L&L chairman and CEO David W. Levinson, in a statement.
Though asking rents were not disclosed, a report in the New York Post says rents at 195 Broadway start at $40 per square foot. The site is directly across from the MTA’s $1.4-billion Fulton Street Transit Center, which is currently under construction.
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