ASSOCIATED PRESS LEAVES ROCK CENTER

After a two-year search for new Manhattan headquarters, The Associated Press has settled on less expensive space far west of Rockefeller Center, where it has resided for 65 years. The new 15-year lease at 450 W. 33rd Street will cost the AP $170 million — far less than it would have paid to remain in Midtown.

Article Tools

Latest News

More Latest News

When the AP moves into its 290,773 sq. ft. space at 450 W. 33rd in fall 2005, it will pay only $30 per sq. ft., vs. the $60 per sq. ft. it previously paid to Tishman Speyer for its space at 45 and 50 Rockefeller Center.

The move will consolidate the AP's 900 New York employees, as well as provide new amenities, such as outdoor terraces, athletic facilities, a health club, cafeteria and an open working environment. The space also will accommodate the AP's specific technical needs, such as 24-hour HVAC, numerous satellite dishes and generators for extensive emergency power. In addition, the AP will join a hotbed of media firms already located in the 1.7 million sq. ft. building, including the New York Daily News, the U.S. News and World Report and WNET.

The move may be the catalyst for future growth in the area, according to Mitchell Konsker, executive vice president of Cushman & Wakefield, which represented the AP in the deal: The City of New York plans to redevelop the 59-block area south of 42nd Street and west of Eighth Avenue, known as Hudson Yards.


Acceptable Use Policy
blog comments powered by Disqus

Photo Galleries

New York's Star Deals

http://nreionline.com/images/nyc_big_deals_homepage_thumb.jpgThe city that never sleeps is also the city that never stops growing, not even in the midst of recession. And deals, both bold and unprecedented, continue to be done. Check out image of New York's big deals.

Hudson Yards Development

http://nreionline.com/photo_gallery/hudson_yardsCheck out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-

Videos

JLL at ICSC 2012

http://nreionline.com/video/bjorson_thumbnail.jpgCheck out these videos from JLL at ICSC 2012 in Las Vegas...

 

Click here to view more videos.


Blogs


http://nreionline.com/blog/schein_blog_headshot.jpg

Real Vox

Traffic Court

The Full Nelson

Events

Strategic Real Estate Investment Conference

Date: Thursday, June 7, 2012
Time: 7:45AM-6:00PM
Place: 1290 Avenue of the America, 5th Floor
What: A full-day event exploring portfolio diversification through opportunistic and alternative investments....

Click here to view more events...

http://nreionline.com/nrei-300x125-house-091211-resourcebook-jpg.jpg

This Week's Most Popular

Current Issue

http://nreionline.com/april2012_cover.jpg

NREI Newsletters



Retail Traffic Newsletters

View NREI Newsletters

NREI Newsline
NREI Seniors Housing Finance and Development
NREI The Green Sheet
NREI Institutional Outlook
NREI Distressed Real Estate Strategies
NREI Daily/Central
NREI Daily/New York
NREI Daily/New Jersey
NREI Weekender
NREI Global Real Estate Monitor
REIT Insider
Retail Traffic Online
The Site Optimizer

Join the Conversation