The 48-story 1271 Avenue of the Americas is the worldheadquarters for Time Inc. The media company will maintain morethan 1.5 million sf there. Lehman Brothers is expected to expandinto the new space later this year.
Studley's Mitchell Steir David Goldstein, Matthew Barlow, HowardNottingham, John Mambrino, Greg Taubin and Jason Perla representedTime in the transaction. CB Richard Ellis' Robert Alexander,Michael Geoghegan, Andrew Sussman and Michael Wellen representedLehman Brothers.
"Given the lack of top quality, large blocks of office space inMidtown Manhattan, the Time Inc. sublease opportunity ideally metall of our client's specific requirements and also complementedLehman Brothers reputation as one of the world's most prestigiousfinancial institutions," Alexander says.
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