Alert the media! Sandow Media just agreed to sublease more than 40,000 square feet from Condé Nast at 101 Park Avenue.
The publisher of Interior Design magazine plans to take over 46,000 square feet at the 49-story office tower, Crain’s reported. The company will occupy the space for the remainder of Condé Nast’s 10-year lease. Condé Nast, which publishes the likes of Vogue and the New Yorker, moved to One World Trade Center in 2014, taking the 20th through the 44th floors. Asking rents for the Park Avenue space were in the $60s per square foot.
Newmark Knight Frank’s David Falk and Jason Greenstein represented Sandow in the deal.
Sandow is moving from a 39,000-square-foot space at the Rockefeller Group‘s 1271 Sixth Avenue. The company wanted a bigger space to accommodate planned acquisitions, though the specifics of such deals were not immediately available.
“The planned growth will take place after we move into the new space,” a spokesperson for Sandow told Crain’s. [Crain’s] — Kathryn Brenzel