The New York Times Company, which has been expanding its workforce, will relocate 350 employees from its headquarters building at 620 Eighth Avenue in Manhattan.
The company has signed a lease for three full floors at Court Square Place in Long Island City, encompassing 57,846 s/f.
The New York Times Company’s lease will occupy the entire 9th, 10th, and 11th floors at Court Square Place for 15 years. This deal brings Court Square Place to 100 percent occupancy. Robert Mitchell of Byrnam Wood represented The New York Times Company in the transaction. The landlord, United Nations Federal Credit Union (UNFCU), was represented by Greg Smith and Lauren Calandriello of JRT Realty Group.
JRT has managed the leasing and marketing of Court Square Place since the building was first constructed over a decade ago.
“The strength of the Long Island City office market remains stellar, and The New York Times’ arrival is a prime example the area’s broadening appeal to diverse companies,” said Greg Smith, president of JRT. “Court Square Place has been at the forefront of Long Island City’s growth, and attracting a global brand of The New York Times’ stature continues that trend.”
Located at 24-01 44th Road, Court Square Place, a LEED Gold Certified Existing Building, is situated in Long Island City’s business district, adjacent to the Court Square and Queensboro Plaza stations.
“We are honored to welcome The New York Times Company to Court Square Place and proud at the continued success at the property,” said Michael LaFrance, AVP Facilities and Real Estate of UNFCU. “The arrival of one of the world’s most influential news organizations and media brands demonstrates the tremendous upside of investment in Long Island City. This transaction is certainly a sign of the times.”