Condé Nast COO and CFO John Bellando announced the company’s plans to move away from 4 Times Square in a memo to the staff this morning:
We have been evaluating real estate opportunities that would allow us to house all our brands in a single, state-of-the-art headquarters, as some of you may already know.As part of that process, we are in active discussions regarding 1 World Trade Center, a development project underway with the Durst Organization (our 4 Times Square landlord) and the Port Authority of New York and New Jersey.
While a final decision is several months away – and a move itself unlikely before 2014 – we wanted to keep you apprised of the status of this project.
We also wanted to alert you, since it is now highly likely that we will move from 4 Times Square, whether to 1 World Trade Center or another location, that we will be reviewing our present and future space requirements for each of our businesses. More information about that process will be communicated shortly.