The law firm Covington & Burlington is increasing its footprint in the New York Times building, growing by almost 33,000 square feet.
The firm will now occupy just shy of 194,000 square feet in the building at 620 Eighth Avenue, and is adding the entire 44th floor, according to the Commercial Observer. The expansion deal is for 10 years, and the asking rent was $100 per square foot.
Covington & Burlington moved into the building in 2007 and has occupied the 39th through 43rd floors since then.
The New York Times developed the 52-story building in partnership with Forest City Realty Trust in 2007. The paper occupies the ground floor through the 27th floor, while the developer owns floors 28 through 52.
Earlier this year, the Times sublet 140,000 square feet of space at the building to the trading network Liquidnet and bought back its leasehold on the building for $250 million, which W.P. Carey had bought in 2009 for $225 million. [CO] – Eddie Small