Marvel moving uptown

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www.observer.com 2010 9 21 10 59 Marvel moving uptown
Ever since the Big Shake-up last year, both Marvel and DC have been the subject of much speculation regarding moves, with some guessing that Marvel might move to Disney’s offices in White Plains…or to Burbank. However, it seems that preserving the Pixar-like independence for Marvel is still a priority, as they are staying in town and merely moving a few blocks uptown.

While an announcement of some kind is expected today about DC’s possible West Coast move, the NY Observer confirms that Marvel is moving to newer uptown offices, , 135 West 50th Street, the same address as Sports Illustrated and EW. The House of Ideas will take over the 60,000 sq. ft. office on October 1 — or…next Friday.

“Marvel Entertainment’s current lease at 417 Fifth Avenue was expiring within the year and this was a great opportunity to house its headquarter offices on one floor,” said Robert Silver of Newmark Knight Frank, who represented the tenant. Robert Alexander and Christopher Mansfield of CB Richard Ellis represented Alliance Bernstein.


A move for Marvel was seen as likely not only due to their expiring lease but also because the old offices were considered way too small and cramped. However, the new digs are not much of an upgrade on that score — although the new uptown address is more prestigious than the old Murray Hill.

The building’s average rental is around $54 per sq. ft.

Comments

  1. Rich Johnson says:

    Ironic on the day that DC Comics is most likely annoucing a move cross country this is announced. And correct me if I’m wrong isn’t Sports Illustrated a Time Warner company and located right next door to the Time Warner Building

  2. Rich Johnson says:

    I meant Time Life building.

  3. Marvel’s on Fifth Avenue, not Murray Hill which is east of Madison.

    A wag could say, if they waited a bit longer, they could rent 1700 Broadway…

    Interesting… the offices are in the middle of the block, so there’s no chance of advertising, like one sees in Rockefeller Center with Fox and NBC. It’s sort of in a no-mans land… it’s not Rockefeller Center, it’s not Times Square, it’s not on Broadway… but it is four blocks from DC.

    Perhaps Marvel can borrow some advertising space from the Good Morning America building on 1500 B’way?

  4. Isn’t Marvel’s office currently on Madison avenue and 35th? (not on 5th avenue) I could swear that is where their office was when I interviewed there last year…

    Interesting move, slightly uptown but not into Disney office, that is good in a sense, to keep their office separate.

    A far cray from my days as a Marvel intern at 387 Park Ave South in the 90s.

  5. akachris says:

    As someone who actually visited the old SI offices, they’re really nice and modern. Nice open concept, the some of the cubicle areas actually had windows, bunch of interior and window offices and great kitchen space.

    The lobby has entrances on both 50th and 51st Sts. And there are a decent restaurants nearby.

  6. Synsidar says:

    Isn’t Marvel’s office currently on Madison avenue and 35th? (not on 5th avenue) I could swear that is where their office was when I interviewed there last year…

    The offices that put out Marvel comics are located at 417 5th Avenue.

    SRS

  7. I stand corrected, 5th Avenue is right. Thanks.

  8. DanielT says:

    So that’s around $3,240,000 per month in rent?

    No wonder comics are $3.99!

  9. $54 a square foot is the yearly cost. The monthly rent would be $270,000.00 plus any additional charges.

  10. Brett says:

    Yes, SI (Sports Illustrated) is owned by Time Life, who is owned by WB, who owns DC.

    There’s a little bit of irony in Marvel renting space in DC’s house…

  11. DanielT says:

    JSYK, I was kidding about the rent.

  12. Tommy Raiko says:

    “There’s a little bit of irony in Marvel renting space in DC’s house…”

    Well, it’s not as if Warner owns the building, so Marvel’s rent payments don’t enrich Warner’s coffers. Warner is just renting space there for some of its businesses.

    So it’s more like Marvel is renting space from a house where another renter happens to be one of DC’s cousins. ;-)

  13. It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks

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