Youth-focused media company Complex Networks signed an 80,000-square-foot sublease with Yahoo at the former New York Times building at 229 West 43rd Street.
Financial details of the deal weren’t clear, but since Yahoo’s parent company, Verizon, owns Complex Networks in a partnership with Hearst, it’s likely the subtenant got a favorable deal, according to Crain’s.
Complex will be relocating from 64,000 square feet it occupies at the Rockefeller Group’s 1271 Sixth Avenue.
Company CEO Rich Antoniello told Crain’s that the space was attractive because Yahoo had already installed video-production facilities.
“In the new space, we’re going to have four professional production studios,” Antoniello said. “It’s a big upgrade from our current space at a moment when we’re expanding and improving our video platform.”
Snapchat earlier this year inked a 26,000-square-foot expansion at the Times Square-area property owned by Columbia Property Trust, bringing its total footprint in the building to 121,000 square feet. [Crain’s] – Rich Bockmann