New York Times to Move Some Staff to Long Island City
Real Estate In-Depth | August 8, 2019
NEW YORK—The New York Times Co., which has been expanding its workforce recently, will be relocating approximately 350 workers from its headquarters building at 620 Eighth Ave. in Manhattan to Court Square Place in Long Island City, Queens.
The media organization signed a lease for 57,846 square feet of space at 24-01 44th Road. Court Square Place is owned by the United Nations Federal Credit Union.
The space was previously occupied by the United Nations.
The New York Times Co. will occupy the entire ninth, 10th, and 11th floors at Court Square Place for a 15-year term. The deal brings Court Square Place to 100% occupancy.
Robert Mitchell of Byrnam Wood represented The New York Times Co. in the transaction. UNFCU was represented by Greg Smith and Lauren Calandriello of JRT Realty Group.
“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,” says Smith, president of JRT Realty Group. “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.”
Court Square Place, a LEED Gold Certified Existing Building, is situated in the heart of Long Island City’s business district. Easily accessible to Manhattan and Brooklyn, the area has attracted award-winning restaurants, galleries, and retail shopping to serve thousands of residents, workers, and visitors. Court Square Place is directly adjacent to the Court Square and Queensboro Plaza stations, providing access to the 7/G/E/M/N/W/R subways.
“We are honored to welcome The New York Times Company to Court Square Place and proud at the continued success at the property,” says 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.”