After the recent acquirement of Time Warner Cable, Charter Communications is planning to change the name of the company as well as its office in New York. Time Warner cable currently occupies floors 16 and 17 of Time Warner Center in NYC, which comes to 75,000 square feet of space.
The new plan is to relocate from Time Warner Center to Charter headquarters in Stamford, Connecticut, when the lease expires at the end of 2016. Nearly 350 employees of Time Warner Cable work in Columbus Center. It is not clear whether the relocation may include dropping some numbers.
When the cable moves out it, Columbus Center colossus will have office availability after a very long time. The space was occupied since Stephen M. Ross-led Related Cos. opened it in 2003. The Time Warner Cable space with Central Park views may have rent as high as $150 a square foot. It was part of more than 1 million square feet that Time Warner bought from Related when the tower was built. Related bought back most of it in 2014 in partnership with the Abu Dhabi Investment Authority and GIC.
Time Warner is also planning to move by mid 2019 to the 30 Hudson Yards skyscraper that Related is constructing at 10th Avenue and West, 33rd Street. Until then, it will remain as a tenant in the twin-towered building.
Steven A. Cohen’s Point 72 Asset Management may also move to Related’s 30 Hudson Yards. They have asked for 175,000 square feet, which is 20 percent more than what they occupy in 330 and 510 Madison Ave. Related and Point 72 may finalize the deal by the end of this year. Like Charter Communications, Point 72 also has headquarters in Stamford.
According to President of Point 72, Doug Haynes, 55 Hudson Yards has “large, open, collaborative space similar to our Stamford trading floor, where we can foster better interaction among teams … by collaborating with world-class developers, we have the ability to build state-of-the-art trading floors.”
Two major law firms Mitsui Fudosan America and Oxford Properties Group in association with Related has also signed a lease for 1.3 million-square-foot at 55 Hudson Yards. It is scheduled to open in 2018.