Discovery Finds Its New Manhattan HQ Building
The newly merged Discovery Communications and Scripps Networks will set up a new joint headquarters at TF Cornerstone’s 230 Park Ave. South.
The cable networks are moving to the new digs from their respective locations in Maryland and Manhattan, the New York Post reports.
The new space will span 250K SF at the building, although no lease has been signed yet. Asking rents are reportedly in the high $70s to low $80s per SF.
Last month, 441 Ninth Ave. and 1250 Broadway were reported to be on the shortlist for the new headquarters. Ultimately, the decision to move to TF Cornerstone's 434K SF building was based on the media company's desire to locate on media- and tech-heavy Park Avenue South, according to the Post.
Scripps, which Discovery took over in a $12B deal completed last week, has offices at 1180 Sixth Ave. and Chelsea Market at 75 Ninth Ave., which Google is reportedly buying for more than $2B. Discovery leases around 160K SF at 850 Third Ave., and has kept its HQ in Silver Spring, Maryland, since 2003.
Discovery owns the Discovery Channel, Animal Planet and TLC, while Scripps owns the Food Network and HGTV. The move into the 13-story building is expected to happen next year, after TF Cornerstone is able to vacate some of the building's current tenants.