Business Insider to double up at L&L’s 150 Fifth Ave.

News website set for 20,000 sf expansion

TRD New York /
May.May 14, 2014 12:00 PM

Business Insider is in advanced discussions to take another full floor at L&L Holdings’ 150 Fifth Avenue, The Real Deal has learned. The 20,646-square-foot expansion will give the business and technology news website, which mixes reporting with Buzzfeed-esque slideshows, more than 41,000 square feet at the Midtown South building.

JLL’s Sean Black and Bill Peters are representing Business Insider, while CBRE’s Ross Zimbalist is representing the sublandlord Universal Music Group, which has leased the entire building from L&L. Rents for the latest deal are in the mid-$50s per square foot, according to a source familiar with the discussions. It is unclear which floor the website will be taking.

The expansion comes just a few months after Business Insider made its debut in the building with a deal for the entire eighth floor.

The JLL brokers declined to comment, while Zimbalist couldn’t be reached. A representative for L&L couldn’t immediately be reached.

L&L, headed by David Levinson and Robert Lapidus, has been buying up a number of properties in Midtown South and repositioning them to attract tech and media tenants. The landlord’s recent signings include Mashable  and Mastercard at 114 Fifth Avenue.


Related Articles

arrow_forward_ios
The Real Deal founder and publisher Amir Korangy and Massey Knakal founder Bob Knakal

JLL’s Bob Knakal on the future of New York

JLL’s Bob Knakal on the future of New York
Former JLL employee sues alleging toxic “boys club”

Former JLL employee sues alleging toxic “boys club”

Former JLL employee sues alleging toxic “boys club”
JLL CEO Christian Ulbrich (Ulbrich by Jemal Countess/Getty Images for Women's Forum of New York)

JLL profits halved by pandemic

JLL profits halved by pandemic
(iStock)

Look out below: Major real estate services firms brace for falling earnings

Look out below: Major real estate services firms brace for falling earnings
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)

Naftali closes on large Williamsburg development site for $100M

Naftali closes on large Williamsburg development site for $100M
JLL CEO Christian Ulbrich (Ulbrich by JP Yim/Getty Images for Women’s Forum of New York, iStock)

JLL slashes jobs in NYC capital markets group

JLL slashes jobs in NYC capital markets group
JLL CEO Christian Ulbrich (Ulbrich by JP Yim/Getty Images for Women's Forum of New York)

JLL predicts coronavirus’ impact to extend past 2020

JLL predicts coronavirus’ impact to extend past 2020
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
arrow_forward_ios

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

Loading...