Al Jazeera is scoping out a site for a New York City headquarters in preparation for its U.S. launch later this year, the Wall Street Journal reported.
The Doha-based broadcaster, which is known for its broad international coverage, recruited real estate services firm CBRE to aid it in its quest for space. The company has considered several spaces, including the former New York Times building at 229 West 43rd Street, sources told the Journal. The search appeared to be in its infancy, the sources added, and in the meantime the broadcaster is housed in temporary studio spaces at 311 West 34th Street and in a nearby building.
The New York Times sold its erstwhile headquarters in 2004 as part of its move to its current home at 420 Eighth Avenue. The building is currently owned by the Blackstone Group.
The search comes at a time when Midtown vacancy rites hover just under 12 percent, with brokers predicting a stagnant market for the first few months of the year, as The Real Deal previously reported. [WSJ] –Hiten Samtani