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ALM Media Signs for 46,000 SF in HQ Move

Relocation in Third Quarter will Base the Business at 150 East 42nd
February 12, 2018
Digital B2B publisher ALM Media will relocate its global headquarters to 150 E. 42nd St. in New York City, where it has signed a long-term lease for 46,000 square feet of office space on the property’s mezzanine level.

ALM will make its move in the third quarter of 2018, CoStar News has learned.

The company is known as the owner behind such brands as GlobeSt.com, Law.com, Real Estate Forum and The National Law Journal. Its commitment reflects a slight reduction from the 57,399 square feet that it occupies in its current headquarters at The Equitable Building at 120 Broadway.

ALM CEO Bill Carter said the new location fosters a collaborative and open environment that would help it to innovate and grow as a company.

150 E. 42nd is a 4-Star office condominium situated between Third and Lexington Avenues in Manhattan. Built in 1956 and renovated in 1988, it stands 42 stories and encompasses roughly 1.7 million square feet.

Landlord Mount Sinai Hospital and Wells Fargo Home Mortgage anchor significant blocks of space in the building, occupying 448,819 square feet and 298,128 square feet, respectively. Other large-scale tenants include Aegis Media Americas in 149,609 square feet and law firm Wilson Elser in 126,948 square feet. About 100,000 square feet remains available for lease, listed with CBRE.

"[ALM's] locational flexibility has allowed them to leverage current market dynamics to secure advantageous space that fosters collaboration [...] positioned directly across from Grand Central Terminal - a perfect location for accessing its target audience," says Michael Cohen, the tri-state president of Colliers International.

Cohen worked alongside Colliers' Leon Manoff and Robert Goodman in representing ALM. The same team assisted ALM in leasing its current space at 120 Broadway.

Brian Dooley and Scott Gottlieb with CBRE represented building ownership in the lease negotiations.



Diana Bell, New York City Market Reporter  CoStar Group   
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