British media and publishing house Future is relocating its US East Coast headquarters within Midtown Manhattan. As reported by Commercial Observer, the company has secured new office space at 25 West 39th Street, a property owned by investment company Thor Equities. The office building is located one block south of Bryant Park.
The publisher, whose portfolio includes well-known titles such as Live Science, Marie Claire and Homes & Gardens, is taking the entire second floor of the building, comprising approximately 13,000 square feet of usable space. The lease has been concluded for a term of ten years. According to a source familiar with the transaction, the asking rent was $70 per square foot.
Relocation in immediate proximity to the park
The new address on 39th Street, between Avenue of the Americas and Fifth Avenue, is just a few minutes' walk from the group's previous East Coast office in the Bush Tower at 130 West 42nd Street. Future had signed a long-term lease there for 16,000 square feet in 2021. The media house continues to manage its US West Coast operations from Los Angeles.
On the tenant side, Shay Bolton and Kirill Azovtsev of Savills advised during negotiations. The owner, Thor Equities, was represented by Christopher Okada and Thomas Capuano of Okada & Company. Neither Future nor Thor, Savills or Okada & Company commented on the details of the agreement when asked.
Tenant structure at 25 West 39th Street
For Thor Equities, the agreement with Future marks the continuation of a series of international leasing successes at the Midtown property. Recently, the owner concluded a deal with Australian company Century Cricket Centre, among others, which plans to open its first US presence at this location.
- —Century Cricket Centre (Australian operator of cricket facilities)
- —Spotter (platform for digital content and content creators)
- —Tin Drum (international arts collective)
With the arrival of Future, the building reinforces its role as a sought-after address for companies in the media, technology and cultural sectors in the immediate vicinity of Bryant Park.
