SportsNet operator sublets at Time & Life building

November 26, 2013 11:21AM

Sterling Entertainment, which operates regional sports network SportsNet New York, signed a lease for 38,776 square feet at the Rockefeller Group’s Time & Life Building in Midtown.

Newmark Grubb Knight Frank was marketing 180,000 square feet of space at the 48-story, 1.96 million-square-foot building, at 1271 Sixth Avenue, in February. This lease was for the last availability from that swath of space. CBRE brokers Dan Wilpon, Ken Meyerson and Scott Gottlieb represented Sterling, while NGKF brokers Brian Goldman, Daniel Madison, David Falk, Peter Shimkin and Neil Goldmacher represented the landlord, according to the New York Post.

In 1987, Time, publisher of Time magazine, sold its 45 percent interest in the building to the Rockefeller Group, which is controlled by Japanese developer Mitsubishi Estate. Upon the sale, anchor tenant Time signed a lease renewal for the majority of the space for until 2017.

Other subtenants include Complex Media, Sandow Media and HedgeServe, the Post said. [NYP, 3rd item]Mark Maurer