Time Warner to move to Related’s second Hudson Yards tower

New York /
Jul.July 01, 2013 05:30 PM

Time Warner has a tentative deal to move into the Related Companies’ 80-story skyscraper planned for the rail yards at 10th Avenue and West 33rd Street, capping weeks of speculation about the media company’s move to Hudson Yards, the New York Times reported.

Company directors expect to approve a deal to sell its current space — the 1.1 million square feet at its namesake towers on Columbus Circle — to Related, which developed the Time Warner Center, real estate executives told the Times.

Time Warner would lease its Columbus Circle space for about five years, or until the new tower is completed, according to the agreement.

“They’ve found a new home and they found a winner for the old home,” one executive who had been briefed on the Time Warner deal but was not authorized to discuss it, told the Times.

The Eastdil Secured duo who had been marketing the Time Warner Center – Doug Harmon and Adam Spies – did not return the Times’ calls requesting comment.

The move to Hudson Yards is one that city officials and retail executives hope will boost the area in the same way the company’s move to Columbus Circle transformed that neighborhood in the 1990s. [NYT]Julie Strickland


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
Brookfield Properties’ Brian Kingston with Two Manhattan West (Brookfield Properties, Getty)
Hedge fund finds 283K sf at Two Manhattan West
Hedge fund finds 283K sf at Two Manhattan West
Jeremy Strong as Kendall Roy in Succession with 35 Hudson Yards, PH90 (Corcoran, Macall B. Polay/HBO, Getty)
Penthouse atop 35 Hudson Yards sells for 41% discount
Penthouse atop 35 Hudson Yards sells for 41% discount
From left: A photo illustration of Steve Wynn and Stephen Ross along with Hudson Yards (Getty Images, Related Companies, Wynn Resorts)
Related rolls the dice with Hudson Yards casino bid
Related rolls the dice with Hudson Yards casino bid
Related Companies' Stephen Ross and 50 Hudson Yards (Related Companies, 50 Hudson Yards)
Bank takes 100K sf at Related’s 50 Hudson Yards
Bank takes 100K sf at Related’s 50 Hudson Yards
Related's Stephen Ross and Sugar Hill Capital's Margaret Grossman with One Prospect Park West and The Cortland (Related Companies, LinkedIn, One Prospect Park West)
New development deals roar back to life in August
New development deals roar back to life in August
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...