If “make money working from home” is to grow to be the long run trend, home will mean 1211 Sixth Avenue for Fox Corp. and News Corp. for the subsequent 20 years.
As a part of a significant recovery within the Midtown office market, Fox and News Corp signed separate leases to increase the commitments of their 1211 Sixth Ave headquarters. between West forty seventh and forty eighth Streets.
News Corp, which owns the Recent York Post, and Fox Corp. are separate corporations controlled by Rupert Murdoch. Each corporations are considering a proposal to merge them into one entity again.
The blockbuster take care of the owner of 1211 Sixth Ivanhoe Cambridge, a Canadian pension fund, also includes plans to significantly improve the property. The changes overseen by asset manager Hines are expected to incorporate refurbishing the principal lobby, revamping the outside plaza and making a recent lobby on forty seventh Street. Work is because of start (*20*) the tip of 2023.
![Fox and News Corp. Headquarters at 1211 Sixth Ave.](https://nypost.com/wp-content/uploads/sites/2/2023/01/fox-news-corp.jpg?w=1024)
The combined lease was signed in 2022 but has been kept secret until now. It was the largest in Manhattan last yr and the largest in Manhattan in three years.
It is a huge blow to the shoulder for Sixth Avenue, which has lost fewer tenants on the far West Side and downtown than Third and Park Avenues. Several other mid-Twentieth-century towers within the West also received significant upgrades within the Forties and Nineteen Fifties, similar to the Rockefeller Group’s former Time + Life constructing (*20*) 1271 Sixth.
The 1211 Sixth contracts are an expression of religion in the long run of offices, defying predictions that every one employees, especially within the media, will make money working from home.
News Corp is the parent company of Dow Jones, which publishes the Wall Street Journal, HarperCollins Publishers and news organizations within the UK and Australia. Fox Corp. owns Fox News and the Fox broadcasting network, in addition to local television stations and the Tubi streaming service.
The tenants were represented by CBRE. Cushman & Wakefield and Hines applied for ownership rights.