Global Publisher Metro Comes to 120 Broadway

(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-Free daily newspaper Metro is making its new Manhattan home at 120 Broadway in a six-year sublease from ALM, parent company of GlobeSt.com, which is headquartered at the Lower Manhattan landmark. The publisher, which also has US offices in Boston and Philadelphia, will occupy 10,163 square feet on 120 Broadway’s sixth floor beginning Sept. 1.

Colliers vice chairman Leon Manoff, who represented ALM in the sublease, tells GlobeSt.com he showed the space to tenants “across the spectrum.” In the end, however, “Metro saw certain synergies” in subleasing from a fellow media tenant. The sublease replaces Metro’s existing New York offices at 44 Wall St.

Gerard Picco, SVP at UGL Services who negotiated on Metro New York’s behalf along with senior associate David Starr, similarly says the sublease from ALM ticked off several boxes. “We had a lot to look at,” Picco tells GlobeSt.com, explaining that Metro considered spaces in Midtown South as well as Lower Manhattan.

Taking the 120 Broadway space fit in with Metro’s commitment to New York City and to Downtown in particular, as well the company’s priority of creating “sustainable and collaborative work environments,” he says, adding, “The value was apparent.” He credits Manoff with “helping us achieve our financial goals for the space.”

Metro is published five days a week in more than 100 cities across Europe, North America, South America and Asia. According to its website, “Local, national and international news and colorful features are presented without any bias, but showcase a proudly urban attitude and style.” Locally, it is handed out Monday through Friday near mass transit facilities across Manhattan.