The Real Deal New York

Condé Nast sublets 50K sf at SL Green’s 711 Third Ave.

Firm that offers debt relief services subleases from the publisher

January 29, 2016 02:47PM

711-Third-Ave

711 Third Avenue

Publishing giant Condé Nast is subletting 50,000 square feet of its space at SL Green Realty’s 711 Third Avenue.

Strategic Financial Solutions, which offers debt relief services to consumers, is taking the entire sixth floor from Condé.

Douglas Elliman’s Peter Gross represented the publisher, while Strategic Financial was represented by MHP Real Estate Services’ Joe Friedman. Asking rent for the space was reportedly in the mid-$40s per square foot.

According to the New York Observer, which reported the news, Strategic Financial is expected to move in this May. The financial firm will join KPR, McKinsey & Company, Parade Publication, Newport News, and Taylor & Francis Group at the tower.

SL Green CEO Marc Holliday noted in an earnings call Thursday that there are economic “headwinds” that could slow down job growth and possibly dampen the office leasing market.

In late 2014, Condé moved its headquarters from 4 Times Square in Midtown to One World Trade Center, taking 1 million square feet of space.   [NYO]Dusica Sue Malesevic

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