Categories: OLD Media Moves

Bloomberg also looking for additional NYC space

Theresa Agovino of Crain’s New York Business reports that Bloomberg L.P. is also scouring midtown New York for an additional 300,000 square feet.

Agovino writes, “Bloomberg LP is looking to expand its midtown presence by a third as it scours the market for an additional 300,000 square feet near its headquarters on East 59th Street and Lexington Avenue, sources said.

“The information services company already rents nearly 900,000 square feet at 731 Lexington Ave. but there is no room available at the 1.3-million-square-foot property, owned by Vornado Realty Trust.

“The company needs the space to accommodate its growing roster of personnel. Over the last year, it has added nearly 500 lawyers, making it the largest source of new legal jobs in New York, as it positions itself to become a player in the $14.5 billion legal research industry. Sources say it is also adding journalists. Earlier this year, it purchased the former Business Week magazine which is now known as Bloomberg BusinessWeek.

“It was unclear where Bloomberg was looking but sources said there is a large block of space available at 601 Lexington Ave. , a Class A building owned by Boston Properties. There is also another swath for rent at 909 Third Ave., which is also owned by Vornado.”