The requested news item does not exist. Please return to News
Electronic trading network subleases 126,427 square feet from The New York Times; will occupy 17th through 20th floors
NEW YORK, January 31, 2018 — JLL has completed a sublease transaction for Liquidnet Holdings at 620 Eighth Avenue in New York with building owner The New York Times. The global institutional trading network signed a sublease with the media firm for 126,427 square feet of office space at the Class A, 1.5 million-square-foot The New York Times Building.
Subtenant Liquidnet was represented by Mitchell Konsker, vice chairman, and David Dusek, managing director, both with JLL. The building owner was represented by Andrew Sachs, executive managing director, and Bill Levitsky, managing director, with Newmark Knight Frank.
"Liquidnet was looking for larger premises in a newly constructed building in Midtown," said Dusek. "The New York Times Building offered a large block of contiguous space in one of Midtown's most modern office buildings, but at a lower operating cost than much of the newer product available. The property's striking design and its proximity to a wide variety of mass transportation options made this an ideal location for Liquidnet. The electronic trading network also appreciated the many amenities provided by 620 Eighth Avenue, including a cafeteria, a coffee lounge and a state-of-the-art conference center."
Liquidnet inked a 15-year sublease for 126,427 square feet of office space at 620 Eighth Avenue and will occupy the 17th through the 20th floors at the office building. The company is relocating to 620 Eighth Avenue from nearby 498 Seventh Avenue.
The 52-story 620 Eighth Avenue, also known as The New York Times Building, was designed by Renzo Piano Building Workshop and FXFOWLE Architects, with Gensler providing interior design. Construction on the office tower was completed in 2007. The building's lobby features a large internal garden.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,400 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2016, the New York tri-state team completed approximately 28.2 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $12.0 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 146.7 million square feet.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
George Shea, Mark Faris
+1 212 627 5766