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Midtown has kept one of its biggest media companies in a landmark pair of deals.
News Corp has extended its deal at 1211 Avenue of the Americas, keeping the company that controls Fox News and the New York Post in its 440k SF spread through 2025, extending the current deal, which ran until 2020, the New York Post reports.
More significantly, 21st Century Fox, also owned by Rupert Murdoch, signed a deal to expand to a 784k SF office, taking over three new high floors in the building. The company, which controls Murdoch's entertainment holdings, will expand its space by 128k SF, moving some employees from 1185 Avenue of the Americas.
Callahan Capital Properties owns the building and pulled off an incredible recovery of its tenants, which had committed to move to 1.2M SF in Silverstein Properties' Two World Trade Center before pulling out of that arrangement almost a year ago to the day. Two WTC is still looking for an anchor tenant.
Cushman & Wakefield's Josh Kuriloff, Mitch Arkin and Ethan Silverstein repped Callahan, and CBRE's top leasing team of Mary Ann Tighe, Tim Dempsey, Ken Rapp, Christopher Mansfield and Ariel Ball repped News Corp and 21st Century Fox.
This is easily the biggest leasing deal of 2017 so far, and it came in Midtown, which had a dismal 2016. [NYP]
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