Hachette Filipacchi, the publisher that recently lost out to beauty giant Avon in talks to take over several open floors at the William Kaufman Organization’s 777 Third Avenue, is reportedly closing in on a deal at the 48-story Time-Life Building at 1271 Avenue of the Americas in Rockefeller Center. The contract would be for 132,000 square feet of space previously occupied by Lehman Brothers, which had subleased the three floors from Time Inc. Hachette would be downsizing significantly from its current 263,010 square feet at 1633 Broadway, which is owned by Paramount. Deloitte is also expected to vacate 1633 Broadway soon, in a move that could leave the door open for television network A&E. Currently located at 235 East 45th Street, A&E is in the market for 350,000 square feet of space and is rumored to have looked at the Empire State Building and Worldwide Plaza in addition to Paramount’s building. [Post]

Lehman Brothers Holding, the bankrupt company now controlled by
restructuring firm Alvarez & Marshal, has signed a
150,000-square-foot sublease at 1271 Sixth Avenue from Time Inc., which
controls most of the building. At the same time, Lehman also ended the
500,000-square-foot sublease it has held at the building since 2007.
The new sublease has different time frames for different floors, a
source told the New York Post. Lehman has floors 35, 38 and 40, and
parts of floors 39 and 46. The terms of the lease were not disclosed.