Publisher W.W. Norton & Company is expanding its footprint at 500 Fifth Avenue to 95,000 square feet.
The company has occupied 78,000 square feet at L&B Realty Advisors’ 59-story building for four decades, the New York Post reported. It is adding an extra 17,000 square feet with this renewal and expansion, which will see the publisher take the entire fifth through eighth floors and part of the ninth floor.
The asking rents in the deal were between $68 to $90 per square foot. W.W. Norton is planning to renovate its floors in three phases, according to the tabloid.
Other tenants at the building include fashion retailer Vince, which signed a 33,000 square foot lease in 2014. The University of Oxford’s North American office is also a tenant at the building.
Cushman & Wakefield’s [TRDataCustom] Harry Blair and Sean Kearns represented L&B Realty, while a Savills Studley team of Daniel Horowitz, Jeffrey Peck, Gary Kerper and Roi Shleifer represented the publisher. [NYP] — Miriam Hall