The transaction is part of a consolidation effort. The company currently has approximately 30,000 sf of office space at 515 W. 20th St. and Pier 62 at Chelsea Piers. CSTV will keep its broadcast studios at Chelsea Piers. CSTV's businesses include a 24-hour college sports television network, College Sports TV; an online network, CollegeSports.com; and a 24-hour college sports radio network, SIRIUS College Sports Radio.
Cushman & Wakefield's Jared Horowitz and Barry Zeller represented CSTV. Newmark and Co.'s David Falk, Peter Shimkin and Nick Berger represented the ownership, a partnership of Irwin Cohen, Angelo Gordon and Belvedere Capital. Cushman is marketing the 15,000 sf CSTV will vacate at 515 West 20th St.
"There are few options in the market that enable a firm to occupy a single, 56,000-sf floor. Bringing employees together like that in a great environment was a key goal of CSTV's," notes Horowitz.
Falk, executive vice president and principal of Newmark, says in the last four years the immediate area has quickly become a hub for many media companies. "Presently, we are seeing very strong interest on the remaining available floors from companies in the media, fashion and technology industries."
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