Forbes Selling 60 Fifth, Plans to Build New Headquarters

Forbes will, indeed, announce today that it’s leaving its longtime Greenwich Village home in favor of a new, to-be-constructed headquarters somewhere in Manhattan. Forbes.com confirmed this morning the rumor that started floating around on Thursday.

Forbes will sell the eight-story 60 Fifth Avenue, its headquarters since 1965, for one simple, very New York reason, according to C.E.O. Steve Forbes: space.

"As with many other media companies, such as Conde Nast and The New York Times, the business has simply outgrown the building,” Mr. Forbes told Forbes.com. “We will be working with a developer to create a new headquarters in New York City.”

Brokerage Cushman & Wakefield will handle the sale of 60 Fifth. The New York Post on Friday morning speculated that the 145,000-square-foot building could fetch a price of around $140 million, though one wonders if that number won’t be a lot higher, considering this is the most active building-sales markets in New York City history.