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Macmillan Publishers is pulling up stakes in Midtown South and heading for the Financial District, continuing a trend of New York media companies moving Downtown.
The publishing firm is leaving the Flatiron Building, which its various imprints occupied in full, for Silverstein Properties' 120 Broadway, trading one historic New York office building for another.
The New York Post first reported the move, which will see Macmillan take floors 22 to 26 for a total of 261K SF. The company will also consolidate other offices it had into 120 Broadway when it moves there in 2019.
Asking rents at 120 Broadway are in the mid-$50s per SF range, and Macmillan's lease is for 20 years. The publisher was represented by Colliers International, and Silverstein retained in-house representation.
Macmillan joins Spotify, Condé Nast, Business Insider and other media companies that have recently signed leases in or around the World Trade Center, which Silverstein also controls, outside of One World Trade. 120 Broadway was built in 1915, but was recently renovated to compete with other nearby, new construction Class-A office buildings.
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