The Real Deal New York

Publisher of AdWeek, Mediabistro moving to 1 Worldwide Plaza

Prometheus Global Media moving from Facebook HQ at 770 Broadway

June 12, 2015 12:25PM
By Rich Bockmann

From left: an AdWeek cover, Worldwide Plaza and Peter Duncan

From left: an AdWeek cover, Worldwide Plaza and Peter Duncan

The publisher behind titles such as AdWeek, Billboard and is shrinking its Manhattan footprint with a move from a Midtown South tech hub to One Worldwide Plaza on the West Side.

Prometheus Global Media, which the Nielson Company spun off in 2009 and sold to a pair of private equity partners, signed a 10-year lease for just over 33,000 square feet on the 29th floor of the Eighth Avenue building. The property owner is a partnership between George Comfort & Sons, RCG Longview, DRA Advisors and New York REIT.

A pair of gargantuan tenants – the law firm Cravath, Swaine & Moore and the Japanese investment bank Nomura Securities International – each occupy nearly 700,000 square feet in the 1.8 million-square-foot building.Other tenants include the public television company WNET, CBS and M. Shanken Communications, publisher of Cigar Aficionado and Wine Spectator.

“We are proud to welcome yet another iconic media company to our building,” said Peter Duncan, president of George Comfort & Sons, who negotiated the deal along with colleague Matt Coudert, the company’s executive vice president.

Newmark Grubb Knight Frank’s Chris Mongeluzo and E.N. Cutler represented Prometheus in the deal. The asking rent was in the low $70s per square foot. The building is now fully occupied.

Prometheus plans to make the move in August from its current home at Vornado Realty Trust’s 770 Broadway in Midtown South, where it occupies 80,000 square feet on the 15th floor.The Vornado building has a reputation as a tech hub with tenants like AOL and Facebook. The social networking giant inked a deal in February to expand to Prometheus’ space at a price reported to be north of $100 per square foot.