Conde Nast Executive: ‘Other Promising Real Estate Opportunities’

Si Newhouse’s plan for a new skyscraper on the far West Side with Douglas Durst is dead in the water, but is there something else out there?

Conde Nast C.O.O. John Bellando sent out an internal email this morning reassuring employees that all hope isn’t lost. At least for a new skyscraper somewhere. Here’s the memo:

Last October, I informed you of our intention to consider constructing a new office tower in connection with a proposal by The Durst Organization and Vornado Realty Group to develop the West Side Rail Yard – also known as the Hudson Yards.

Yesterday, the Metropolitan Transportation Authority selected a different bidder to develop this property. However, several other promising real estate development opportunities have been brought to our attention and we intend to continue to explore all of our options for a new office tower in the 2013 – 2016 timeframe.

As more information becomes available in the coming months, I will keep you apprised of the status of our efforts.

Douglas Durst, who is also the owner of 4 Times Square, told Media Mob back in October that Conde has a lease at his 42nd street skyscraper through 2018, but that it could be broken as early as 2015.

 

Conde Nast Executive: ‘Other Promising Real Estate Opportunities’