The cable channel Showtime Networks is eyeing a move from its current
home in a Theater District skyscraper to a rehabilitated century-year-old building at 200 Fifth Avenue at Madison Square Park, several
sources said. Showtime, a division of the CBS Corporation, currently leases 172,600
square feet of space at the 2.4 million-square-foot 1633 Broadway at
51st Street; the lease is set to expire in 2010, according to data from
CoStar. Real estate investment company L&L Holding bought 200 Fifth Avenue,
at the corner of 23rd Street, in 2007 for $480 million and is pouring
another $120 million into the 800,000-square-foot building, where
advertising firm Grey Group is taking 370,000 square feet. [more]