Publishers Weekly has leased a full floor at Adams & Co’s 49 West 23rd Street, helping bring the property to 100 percent occupancy.
The lease was one of three signed recently at the property that included a seven-year, 5,594 s/f lease with a boutique construction company that will occupy the entire fourth floor and a five-year, 5,594 s/f lease with JB Drax Honore Inc., an executing broker that generates trade ideas and execution, that will occupy the entire tenth floor
Publishers weekly will relocate from nearby 71 West 23rd Street to occupy 5,594 s/f across the entire ninth floor at under a 10-year lease.
“The recent transactions we were able to execute at 49 West 23rd Street are all from new, forward-thinking companies coming to the building, which serves as proof of the neighborhood’s resiliency,” said Jim Buslik, Principal of Adams & Co.
“Combining the prime Flatiron District location with the building’s recent renovations has increased traffic and we are confident we will continue to see a positive uptick in office return to the city.”
Jim Buslik, Alan Bonett and Bradley Cohn of Adams & Co. serve as the exclusive brokers for 49 West 23rd. Herb Goldberg, City Connections represented Publishers Weekly, Bradly Cohn and Alan Bonett, Adams & Co .represented the construction company and Megan Allen, CBRE represented JB Drax Honore Inc. in the transactions. Asking rent was $59 psf.
Located between Fifth and Sixth Avenue, 49 West 23rd Street was built in 1916 and consists of 12 floors. The building is one of three attached buildings creating the Adams & Company’s 23rd Street Complex. The office tower underwent lobby renovations in 2019 and features brand new prebuilt spaces. Ideally located in the heart of Flatiron District, tenants are in walking distance to the F, N, R 1, 2, and PATH transit.