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Mic, which is reportedly worth $5M, was paying over $2M in rent
Media startup rented 82nd floor at 1WTC
![One World Trade Center and Mic co-founder Chris Altchek (Credit: Twitter)](https://static.therealdeal.com/wp-content/uploads/2018/11/1200-1WTC-and-Chris-Altchek-.jpg)
The Durst Organization may have to look for a new tenant for the 82nd floor of 1 World Trade Center.
News startup Mic, which rented the 36,000-square-foot space in 2016, laid off almost its entire staff Thursday as it sold to publisher Bustle Digital Group for $5 million.
Mic was paying $69 per square foot for its space, according to Commercial Observer, or around $2.5 million in total per year.
The digital news publication raised more than $60 million from venture investors and was reportedly valued at $100 million in April 2017, but couldn’t figure out how to make a profit.
The company moved to 1 World Trade at a time when the neighborhood became a center of the media industry. Conde Nast is also a tenant at the building, and Observer Media and Vox Media occupy space nearby. —Konrad Putzier