According to Crain’s, British Telecommunications has inked a 15-year lease for 63,000 square feet of space at the New York Times Tower on Eighth Avenue at $95 per square foot. British Telecom is subleasing space on the 45th and 46th floors from investment firm ClearBridge Advisors, though the latter never occupied the space that British Telecom will take over. ClearBridge will remain in its existing space on the 47th through 50th floors. The deal follows a number of reports over the past month that financial services firms across the city have been shedding space that’s now unnecessary given the market downturn.
April 23rd, 2008 | Stephen Del Percio | 0 comments | Continued