Newsweek in space swap

May 06, 2008 03:10PM

Newsweek’s new lease of about 165,000 square feet at 395 Hudson Street in Soho is part of a three-party deal involving a space swap. Newsweek will move into the third and part of the fourth floor, taking space occupied by Thomson Reuters, which will move to the fifth and sixth floors. Newsweek is leaving 1775 Broadway, where it has been for 15 years. The Midtown building is getting gut renovated. Its new Soho building houses hip-hop radio station Hot 97 and has been the scene of several shootings and beatings. A spokesperson for Hot 97’s parent company, Emmis, told the Post that violence has subsided since interviews conducted by radio host Funkmaster Flex, which sparked much of the mayhem, were moved to a different site. Newsweek had been expected to move downtown to 100 Church Street and had been in talks with that building’s owner, Alex Sapir. In its April issue, The Real Deal looked at where the city’s media companies are moving. TRD