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ALM relocates to Grand Central market.

Colliers International's Tri-State President Michael Cohen, Vice Chairman Leon Manoff and Executive Managing Director Robert Goodman represented ALM Media in a relocation within New York City.

The digital media company leased approximately 46,000 s/f of space at 150 East 42nd Street on a long-term lease.

ALM delivers content to professionals in the legal, financial services, benefits, consulting, property and casualty insurance, and real estate industries through such publications and online resources as, The National Law Journal, New York Law Journal, ThinkAdvisor, and Real Estate Forum.

The company will relocate to the mezzanine floor of the Grand Central submarket property from 120 Broadway in Q3 2018.

According to Cohen, "ALM is a savvy organization that has made strategic real estate decisions that afforded significant economic advantages. The company's locational flexibility has allowed them to leverage current market dynamics to secure advantageous space that fosters the collaboration on which they thrive.

"150 East 42nd Street is a Class A building positioned directly across from Grand Central Terminal --a perfect location for accessing its target audience."

"We are thrilled to be making this move back up to Midtown," said Bill Carter, CEO at ALM. "This new location will allow our employees to have a highly collaborative and open environment to help us innovate and grow as a company."

ALM, investor EagleTree Capital, Cohen, Manoff and Goodman have worked together to determine real estate strategies in the past.

The Colliers professionals previously assisted the company in leasing space at 345 Park Avenue South and 120 Broadway.


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Publication:Real Estate Weekly
Date:Feb 14, 2018
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