NEW YORK CITY—The Associated Press is planning to move from Midtown into Lower Manhattan for its next lease, jumping from one Brookfield Properties building to another. The news organization also announces that it will decrease its footprint at the new global headquarters.
AP will head to 200 Liberty St., across the street from the World Trade Center, come 2017, according to Crain's New York Business. The AP's lease at 450 W. 33rd St.—rebranded as Five Manhattan West last year when Brookfield announced a big retooling of the property, which is being folded into the Manhattan West complex—runs through 2019 and spans 291,000 square feet. The company ahs been at the location since 2004.
However, rent there is likely to rise as the Manhattan West and, nearby, Hudson Yards projects come online, and AP's Midtown space is more than it needs following several downsizings.
Instead, the company will take around 172,000 square feet, reducing its space by about 40%, Crain's notes. Brookfield declined to comment to GlobeSt.com.
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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.
