Versant Media Group signs 84,509 s/f lease expansion with Columbia Property Trust
Manhattan, NY Columbia Property Trust, Inc. with Versant Media Group, Inc., a new publicly traded modern media company, has entered into a long-term lease extension and a three-floor, 84,509 s/f expansion at 229 West 43rd St. The agreement will establish the property as Versant’s New York City corporate office and grow the company’s total footprint in the building to 249,054 s/f, making Versant one of the largest office tenants at the landmark in the Times Square district.
As part of an 18-year lease extension, the company’s footprint will encompass six contiguous floors of the 15-story building, including custom-built studios. Versant is best known for its powerful portfolio of innovative media brands, including MS NOW, CNBC, USA Network, Golf Channel, E!, SYFY and Oxygen, as well as its complementary digital platforms Fandango, Rotten Tomatoes, GolfNow and GolfPass.
The property is now 96% leased, with Snap among its high-profile tenants. Columbia’s efforts have earned LEED Silver, WELL Health-Safety, ENERGY STAR, and WiredScore Platinum certifications.
Columbia was represented in-house. Versant was represented by CBRE.
Constructed in 1912 as the home of The New York Times, 229 West 43rd St. sits at the crossroads of Midtown and Midtown South, with one of the city’s most distinctive architectural profiles, including its pyramidal cupola. The property was designated a New York City Landmark by the Landmarks Preservation Commission in 2001.
“Versant’s expanding commitment further establishes 229 West 43rd St. as a preeminent destination for leading media and technology companies and continues the building’s evolution into a modern-day office home for cutting-edge media and entertainment brands in the heart of Midtown,” said Ted Koltis, executive vice president and head of real estate at Columbia Property Trust. “We are proud to support Versant’s next chapter of growth at a building whose storied media legacy began over a century ago with The New York Times.”
“Since moving into 229 West 43rd St., our focus has been on standing up state-of-the-art studios and creating the infrastructure to support our live production,” said Jeff Mayzurk, president of operations & technology at Versant. “With this expansion and long-term lease extension, we are turning what began as a temporary New York corporate office into Versant’s home in the city, building on that foundation with additional collaborative space, an employee dining hub, and the technology infrastructure and production capabilities to support our brands efficiently and help power where Versant is going next.”
Located at the southwest corner of Times Square, the historic property offers connectivity across the New York metropolitan area, with convenient access to Grand Central Terminal, Penn Station, Port Authority Bus Terminal, and 11 subway lines.