Messenger went live a few days ago, but it’s already making news beyond posting it.
The digital news startup launched its website on Monday and signed a 42,000-square-foot sublease at 195 Broadway in the Financial District, New York Business Journal Report. The transaction period and rental asking price were not disclosed.
Messenger, part of JAF Communications, owned by Jimmy Finkelstein, is subleasing space from Orchard Technologies. The home-buying startup signed a 10-year, 107,000-square-foot lease two years ago in a building owned by L&L Holding Company.
Orchard was represented by the Cushman & Wakefield team including Peter Trivelas and Gary Ceder. Another Cushman & Wakefield team, including Laura Pomerantz and Ethan Silverstein, represented the Courier.
The Messenger is the latest media investment from Finkelstein, which previously part-owned Hollywood Reporter and The Hill. The publication kicks off with an exclusive interview with Donald Trump, covering politics, business, entertainment and sports.
Ahead of its launch, the digital startup secured $50 million in investor funding. The publication’s goal is to start with 175 reporters in three bureaus, including one in New York City. One of the company’s investors is said to be Apollo co-founder Josh Harris axiom.
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Sublease availability is on the rise nationwide as corporate demand for office space weakens.
Office vacancies are common in Manhattan. Available space hit a record 94 million square feet last month, according to Colliers. Only 1.5 million square feet of tenants were signed in April, well below the monthly average for the previous three years.
The 17.4% availability rate is a record for the borough, last recorded in February 2022.
— holden warner
