Keith Kelly of the New York Post is reporting that, a little more than a year after moving from the company’s flagship building at 60 Fifth Ave. to 90 Fifth Ave, the Forbes magazine staff will move back.
Kelly writes, “Just days ago, Forbes Media sold 60 Fifth to New York University for $65 million. But as part of the deal Forbes is allowed to remain in the building for five years.
“The return represents a humbling change of course for Forbes, its chairman Steve Forbes and Elevation Partners, the private equity firm including U2 frontman Bono, which bought a minority stake in the company for a reported $250 million to $300 million in 2006.
“Steve put the building on the block the next year, in anticipation of building a new headquarters for Forbes Media. At the time, he said the company had “outgrown our space.”
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