By: Zach Amaska
The West Palm Beach, Florida-based conservative station Newsmax is reportedly preparing to move its studio to 805 Third Avenue.
Its new digs will be roughly four times larger than its present locale, according to media reports. The headquarters will sit on the 22nd floor until at least 2026.
Its current home, at 8 W. 40th Street, measures just
5,000 square feet.
“Also at 805 Third Ave., a sublease of Meredith’s 22,109-square-foot 23rd floor accommodated an in-building expansion by Gen II, which was represented by William Iacovelli of CBRE. Gen II is already occupying 47,600 square feet on the adjacent 24th and 25th floors, which it subleased at the end of 2018 in a move from 825 Third Ave. across the street. quadrupling its space,” the New York Post reported. “Meredith’s lease runs through December 2026 and the JLL team of Frank Doyle, Randy Abend and Betsy Buckley repped Meredith in both these deals, as well as 150,000 square feet of subleases that we told you about last year signed by Kroll, as well as Gen II and its new expansion.”
Meredith “left its Midtown offices after it acquired Time Inc. in 2018 and relocated to Time’s new offices at 225 Liberty Street in Brookfield Place. JLL’s Frank Doyle, Randy Abend and Betsy Buckley represented Meredith in the transaction, and JLL’s Dan Posy and Peter Michailidis represented Newsmax,” reported commercialobserver.com. “Meredith also expanded an existing sublease with private equity firm Gen II Fund Services, adding an additional 22,109 square feet to the firm’s 48,000 square feet, which it leased in 2018…”
The rent that was asked for on Gen II’s first lease was $63 per square foot, according to the New York Post. “JLL and CBRE did not reply to requests for confirmation, or for updated asking rent. With these two new transactions, Meredith has subleased almost all its 200,000 square feet at the building. In addition to the previous Gen II lease, Kroll Bond Rating Agency assumed 95,200 square feet in May 2018,” commercialobserver.com added.
Newsmax is a news and opinion website founded by Christopher Ruddy and operated by Newsmax Media. The website is divided into four main sections: Newsmax, Newsmax Health, Newsmax Finance, and Newsmax World, each divided into various subsections. Newsmax Media also operates a print magazine called Newsmax as well as the cable news channel Newsmax TV.
The website has been described as influential in American conservative circles. In 2015, Newsmax was ranked the third most trafficked political news website in the United States by comScore.