The owner of 1100 Sixth Avenue is seeking an investor to take over the property as longtime tenant HBO gears up to move its headquarters to Hudson Yards.
The Nickerson family has owned the site since the 1800s and is now offering a long-term leasehold to an investor who can rent out the 15-story, 315,000-square-foot office building, Crain’s reported. The landlord hired Darcy Stacom, a broker at CBRE, to market the property. The terms of the leasehold were not immediately available, but the family has indicated they are willing to forego an upfront payment in favor of higher rent. The leasehold could last as long as 99 years.
HBO, which has been headquartered at 1100 Sixth Avenue since 1984, plans to move to Related Companies’ 30 Hudson Yards, where parent company Time Warner purchased a 1.6-million-square-foot commercial condo that takes up the 14th through the 51st floor. The company’s other subsidiaries, CNN and Warner, will also be taking space in the condo. HBO’s lease at Sixth Avenue expires in 2019. [Crain’s] — Kathryn Brenzel