Forbes To Build New HQ in NYC

NEW YORK CITY-Forbes has retained Cushman & Wakefield Inc. to pursue the sale of its headquarters building at 60 Fifth Ave., at 12th Street. As of now, Cushman & Wakefield can’t comment on any details involved in the deal.

In making the announcement yesterday, president and CEO Steve Forbes, who started at the magazine in 1971, said: “As with many other media companies, such as Conde Nast and the New York Times, the business has simply outgrown the building.” He added that the company is already working with a developer to create a new headquarters within New York City.

The Forbes building was constructed in 1924, is eight stories high, and built in the largely residential area of Greenwich Village, for book publisher Macmillan & Co. Forbes acquired the building in 1965 when Macmillan & Co. moved Uptown.

In a memo sent to Forbes Inc. employees yesterday, the company noted that they will remain at 60 Fifth Ave. and 90 Fifth Ave. for the next few years.

According to Forbes.com, for several years Forbes has also occupied offices a few blocks north of the main building, at 90 5th Ave., housing Forbes.com and overflow from Forbes magazine.

Along with the namesake magazine and website, Forbes publishes Forbes Life, Forbes Asia and a range of investing newsletters. It also produces conferences for senior executives and provides custom-publishing services.