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Today, we announced the sale of our office space in Time Warner Center, and we have taken initial steps to acquire space in a new building that will be constructed on the southwest corner of 10th Avenue and 33rd Street in New York City’s Hudson Yards development.Īs I wrote to you in September 2011 when we began this process, our company currently occupies seven buildings in Manhattan, including our space in Time Warner Center. is working on its own real estate plans as it prepares to become an independent, publicly traded company. We will remain in our current locations, including Time Warner Center, until our new home is ready for us to move in. to a new building beginning in late 2018. I’m excited to share the news that we have sold our space in Time Warner Center and are pursuing a plan to move to a new global headquarters in the Hudson Yards development on the West Side of Manhattan.Īfter two years of research and planning – including input from across our divisions and many of you – we’re moving forward with a plan to relocate our New York City-based employees at Corporate, HBO, Turner, and Warner Bros. TVSpy has more on the Comcast Innovation and Technology Center. The Time Warner Center news comes a day after Comcast, the owner of NBC, announced it was building a new state-of-the art facility in what will be Philadelphia’s tallest building. We expect that moving into a single location will save us three-quarters of a billion dollars in ongoing real estate costs over the next 20 years, which we can reallocate to doing more of what we do best – creating and sharing high-quality entertainment and journalism through great storytelling.” “ur company currently occupies seven buildings in Manhattan, including our space in Time Warner Center. to a new building beginning in late 2018,” Bewkes writes. “e’re moving forward with a plan to relocate our New York City-based employees at Corporate, HBO, Turner, and Warner Bros. Time Warner CEO Jeff Bewkes sent an email to staff this afternoon letting them know about the move, which is still years away. Time Warner has sold its iconic Manhattan building at Columbus Circle and is already preparing a move 30 blocks south to the as yet undeveloped Hudson Yards neighborhood. In 2020, the most expensive submarket there was SoHo, followed by Chelsea and Hudson Yards/Manhattan West.The Lost Remote newsletter brings you the the best in streaming news, from staffing changes to premiere dates to trailers-to the latest platform moves.
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Meanwhile, Midtown South is home to Madison Square Garden, Pennsylvania Station, Hudson Yards and Koreatown. The most expensive submarket there was Plaza District in 2020.
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Midtown Manhattan contains the Empire State Building, MoMA, Grand Central Station and the United Nations Headquarters. This shows that the class of real estate has an effect on its rental rate. Midtown Manhattan had, on average, lower asking rents for office space overall than Midtown South in 2022. These properties usually command the highest rental rates, due to their high quality. dollars per square foot.Ĭlass A real estate refers to the best properties in terms of appearance, age, quality of infrastructure and location. dollars, but below that of Midtown South, which was the most expensive district at 106.71 U.S. It was above the Manhattan average of 81.44 U.S. dollars per square foot in the second quarter of 2022. The average asking rent for Class A office space in Midtown Manhattan was 83.04 U.S.