Aug. 7, 2019 By Shane O’Brien
The New York Times is set to move some its operations to Long Island City, with the Gray Lady signing a 15-year lease for three floors at Court Square Place.
The company will be taking 57,000 square feet in the 17-story building at 24-01 44th Rd, taking the entire ninth, 10th and 11th floors.
The floors were previously occupied by the United Nations IT department, which has recently moved back to the Secretariat in Manhattan after a 10-year stint in Long Island City
The Times has confirmed that 350 staff members will operate out of Court Square Place. The company has not stated whether they will be editorial or back office jobs.
An exact move in date is not yet known due to construction work, but it is expected to be by the end of 2019.
The New York Times will pay $50 per square foot for its new lease and Greg Smith, President of JRT Realty who manages the leasing and marketing of the building, said that it was a positive sign for Long Island City in the wake of the Amazon deal falling through.
Smith said that it was encouraging that high-profile companies were still willing to relocate from Manhattan to Long Island City.
“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,” Smith said.
The building is owned the United Nations Federal Credit Union, which occupies seven floors of the building, with Collins Building Services occupying two floors and Japanese logistics company Nippon Express leasing one floor.