Major League Baseball may be the answer to the Time & Life Building’s pending vacancy issue.
MLB is considering moving Commissioner Rob Manfred’s office and some of its media operations to 1271 Sixth Avenue, between West 50th and West 51st Street. The league may take up 500,000 square feet, occupying the fourth through 15th floors in the Rockefeller Group’s building.
The move would take Manfred away from an office at Brookfield Property Parnters’ 245 Park Avenue and would move MLB subsidiary Major League Baseball Advance from offices in Chelsea, the Commercial Observer reported.
The 57-year-old building will soon lose long-time tenant Time Inc. and New York Mets Broadcaster SNY, leaving the property mostly vacant. SNY announced in November that it is moving to a 83,000-square-feet space at Silverstein Properties’ 4 World Trade Center. Mary Anne Tighe, of CBRE, has been leading the team marketing the building.
The Rockefeller Group is planning to begin an estimated $300 million renovation of the building this year. [NYO] — Kathryn Brenzel
Source: The Real Deal