The publishing giant behind Sports Illustrated, Entertainment Weekly and the namesake magazine is among several media companies heading Downtown. The Village Voice, American Media and Condé Nast are among those that have already made the move.
If the deal is finalized, Time Inc., currently based at Rockefeller Center in Midtown, would occupy a 44-story tower owned by Bank of America. The lease would be for 650,000 square feet – almost one-fourth of its current space. A Time Inc. spokesperson said a final decision has not been made yet.
“There is a new vibrancy and an old logic to Lower Manhattan,” Jessica Lappin of the Alliance for Downtown New York told the New York Times. “There isn’t a better connected part of the city when it comes to transportation, access to the waterfront and the growing food and retail revolution going on down here.” [NYT] — Mark Maurer