The “Gray Lady” is heading to Queens: The New York Times Company has leased three full floors encompassing 57,846 square feet at Court Square Place in Long Island City. The Times, which has been expanding its workforce, plans to relocate 350 employees from its headquarters at 620 Eighth Ave. in Manhattan.
With the leasing of the entire 9th, 10th, and 11th floors at Court Square Place for a 15-year term, Court Square will be 100% occupied, announced JRT Realty Group, whose Greg Smith and Lauren Calandriello represented owner United Nations Federal Credit Union (UNFCU) in the transaction. Robert Mitchell of Byrnam Wood represented The New York Times Company.
“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,” said Smith, JRT president. “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.”
Located at 24-01 44th Road, Court Square Place, a Leadership in Energy and Environmental Design (LEED) Gold-Certified Existing Building, is situated in the heart of Long Island City’s business district.
“We are honored to welcome The New York Times Company to Court Square Place and proud at the continued success at the property,” said Michael LaFrance, assistant vice president of 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.”