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New York Times subleases 126,000 s/f of its office space to investment co.

JLL has completed a sublease transaction for Liquidnet Holdings at 620 Eighth Avenue in New York with building owner The New York Times. The global institutional trading network signed a sublease with the media firm for 126,427 square feet of office space at the Class A, 1.5 million-square-foot The New York Times Building.

Subtenant Liquidnet was represented by Mitchell Konsker, vice chairman, and David Dusek, managing director, both with JLL. The building owner was represented by Andrew Sachs, executive managing director, and Bill Levitsky, managing director, with Newmark Knight Frank.

“Liquidnet was looking for larger premises in a newly constructed building in Midtown,” said Dusek. “The New York Times Building offered a large block of contiguous space in one of Midtown’s most modern office buildings, but at a lower operating cost than much of the newer product available. The property’s striking design and its proximity to a wide variety of mass transportation options made this an ideal location for Liquidnet. The electronic trading network also appreciated the many amenities provided by 620 Eighth Avenue, including a cafeteria, a coffee lounge and a state-of-the-art conference center.”

Liquidnet inked a 15-year sublease for 126,427 square feet of office space at 620 Eighth Avenue and will occupy the 17th through the 20th floors at the office building. The company is relocating to 620 Eighth Avenue from nearby 498 Seventh Avenue.

The 52-story 620 Eighth Avenue, also known as The New York Times Building, was designed by Renzo Piano Building Workshop and FXFOWLE Architects, with Gensler providing interior design. Construction on the office tower was completed in 2007. The building’s lobby features a large internal garden.

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