AP signs 290,000-SF lease.

Cushman & Wakefield announced that The Associated Press, the world's largest news organization, has finalized its decision to lease 290,773 SF at 450 West 33rd St.

The move represents an expansion and consolidation for The Associated Press, which plans to move from offices at 45 and 50 Rockefeller Plaza in Rockefeller Center, and 1995 Broadway. The Associated Press currently occupies about 205,000 SF in the three buildings, and has been located at Rockefeller Center for 65 years.

The news organization signed a 15-year lease for floors 14 through 16, as well as mezzanine and basement space in the building. The majority of the space was previously occupied by DoubleClick, the' Internet advertising firm In addition to bringing together as many as 900 employees, The Associated Press was able to provide its employees with many new amenities, such as outdoor terraces, athletic facilities, a health club, cafeteria and an open working environment.

Mitchell Konsker, executive vice president, and David Dusek, director, of global real estate services firm Cushman & Wakefield, represented The Associated Press along with The Associated Press' assistant to the president Dave Tomlin. The deal was an intricate three-party transaction with simultaneous negotiations going on throughout the process. DoubleClick, represented by Paul Ippolito and Michael Ippolito of Newmark & Co., negotiated a lease termination with the landlord, Max Capital Management Max Capital was represented in-house by Anthony Westreich, along with Peter Riguardi and Cynthia Wasserberg of Jones Lang LaSalle.

"We're excited to be developing our new headquarters in space that will permit us to upgrade and reconfigure AP news operations in a manner that corresponds to the vast changes of recent years within our company and in the news industry," Tomlin said.

Konsker said it was a two-year process to find The Associated Press a new headquarters that could accommodate its specific technical requirements. 450 West 33rd St was able to meet The Associated Press' very technical infrastructure needs, including 24-hour HVAC, numerous satellite dishes and generators for extensive emergency power.

"Without question, the move provides The Associated Press with an incredible upgrade in technology in a great, emerging location, while affording the firm substantial economic benefits," said Konsker. "This new headquarters will house the APTN television studios, multi-media newsrooms and executive offices. The office environment is spectacular, with great views of the Hudson and Midtown skyline.