Another month, another media company moving to Lower Manhattan. Sports broadcaster SportsNet New York, also known as SNY, signed a 17-year lease for 83,000 square feet at Silverstein Properties’ 4 World Trade Center, joining the likes of Conde Nast and Time Inc. in ditching Midtown for Downtown.
Silverstein Properties’ Jeremy Moss and a CBRE team including Stephen Siegel, Mary Ann Tighe and Adam Foster represented the landlord, while SNY was represented by a CBRE team led by Scott Gottlieb and Ken Meyerson, Chris Corrinet and Dan Wilpon.
“This confirms Downtown’s emerging status as the new media capital of America,” Silverstein Properties’ Larry Silverstein said in a statement.
Over the past year, a number of major media companies have moved their headquarters to Lower Manhattan, attracted in part by lower rents and proximity to Brooklyn. Last year, publishing house Conde Nast moved from the Times Square area to One World Trade Center and Time Inc. is expected to move to Brookfield Place by the end of this year.
Silverstein recently secured a letter of intent from News Corp. and 21st Century Fox to move their headquarters to yet-to-be built 2 World Trade Center. The firm is currently building another office tower on the site, 3 World Trade Center.
With the lease, 4 World Trade Center is now 65 percent leased two years after opening its doors, according to a spokesperson. — Konrad Putzier