1745 Broadway
Random House is giving up as much as 250,000 of the 645,000 square feet it occupies at 1745 Broadway, where it has a long-term lease, according to the Wall Street Journal. The book publishing giant, which is owned by Bertelsmann AG, has laid off a significant portion of its staff over the past few years, leaving it with a 30 percent vacancy rate in its offices. The company has hired Cassidy Turley to market the sublease opportunity and held a cocktail reception for real estate brokers last week in an effort to get the word out. The asking rent is $55 per square foot. [WSJ]