Arthur “Pinch” Sulzberger, publisher of the New York Times and chairman of NYT Co., is going to be a renter on Sixth Avenue.
The newspaper is leasing space in Rockefeller Center — taking four floors in the old Time & Life Building.
Time Inc. vacated for new digs downtown at the end of 2015, but its lease runs through 2017.
“They’re our subtenants,” said a Time spokeswoman. “I’m sure they’ll love the space.”
According to the Real Deal, a real estate trade publication, the NYT Co. has signed a short-term lease for 160,000 square feet at 1271 Sixth Ave.
Despite a 22 percent surge in digital subscription revenue, the broadsheet announced another 1 percent overall drop in total revenue in its Thursday quarterly earnings release, thanks to a punishing environment for print.
NYT is planning to consolidate its news operations at its Eighth Avenue HQ and rent out part of soon-to-be-vacant space to a subtenant.
About 400 employees will be displaced while the renovations take place, the company previously announced.
Terms of the sublease for the Time property were not disclosed.
Our editors found this article on this site using Google and regenerated it for our readers.
