SNY, Sterling Moving to 4WTC
New York Sports Entertainment Firm Leases 83,500 SF
SNY, television's home of the Mets, Jets, and New York sports, has leased 83,546 square feet of studio and office space at 4 World Trade Center in New York City.
The 17-year lease deal will see Sterling Equities and Sterling Project Development join SNY, owned by Sterling Entertainment Enterprises, Time Warner, and Comcast NBC Universal, on the 49th and 50th floors of the Downtown Manhattan office tower.
4WTC is a 72-story, 2.3 million-square-foot, 5-Star office tower built in 2013 on 19 acres at 150 Greenwich St. in the World Trade Center submarket.
Designed by Fumihiko Maki of Maki & Associates, the LEED Gold tower faces the WTC Memorial Park and features five floors of retail space above pedestrian concourses with access to public transit and directly below offices for The Port Authority of New York and New Jersey and the City of New York, which occupy two thirds of the building that is also home to MediaMath, Silver Suites, and Morningstar.
"This is a historic move, as 4 World Trade Center is the perfect home for SNY and Sterling," said Fred Wilpon, chairman and co-founder of Sterling Equities. "Downtown has undergone a total transformation, at the World Trade Center, and we’re excited to be involved."
Steve Siegel, Mary Ann Tighe, Adam Foster, Steve Eynon, Evan Haskell, and David Caperna with CBRE, along with Roger Silverstein and Jeremy Moss, director of World Trade Center leasing for Silverstein Properties, led the negotiations for the landlord. Scott Gottlieb, Ken Meyerson, Chris Corrinet, Dan Wilpon, Dan Knopf, and Zach Weil of CBRE represented SNY.
Media Moving to ManhattanAccording to the Downtown Alliance, more than 600 firms have moved to Lower Manhattan since 2005, leasing over 15 million square feet. Of those, 350 have been in TAMI (Technology, Advertising, Media, and Information) or professional services fields, totaling 56 percent of the space leased.
Other media companies recently relocating to downtown include Condé Nast, Time, Inc., HarperCollins, Macmillan, the New York Daily News, and Broadcast Music, Inc.
"What a great line-up: Condé Nast, Time Inc., HarperCollins, Fast Company and now SNY and Sterling," exclaimed Larry Silverstein, chairman of Silverstein Properties, which owns and manages the World Trade Center towers save 1WTC. "This confirms Downtown’s emerging status as the new media capital of America. Nothing says New York more than the World Trade Center, SNY and the Mets!"
Late in 2014, Silverstein successfully financed and re-started construction on 3 WTC. The Richard Rogers-designed 80-story tower is currently at the 52nd floor and will top out towards the end of 2016, with an anticipated opening in early 2018. GroupM has already signed a 20-year lease for 515,000 square feet on nine floors at the base of the building.
Silverstein Properties received a letter of intent in June from 21st Century Fox and News Corp. to move their headquarters into 1.3 million square feet at 2 WTC. The final tower planned for the 16-acre World Trade Center site is being designed by Bjarke Ingels Group and is expected to open in 2020.
Midtown remains no stranger to the mass of media companies making their way to Manhattan, with recent lease deals signed by Situation Interactive, Pandora, Prometheus Global, Kepler Group, Bloomberg LP, IPG, and Publicis Groupe.