BuzzFeed Downsizing at Former NY Times Building

Digital media firm BuzzFeed will be relocating from its location of approximately 8-years at 225 Park Avenue South to Times Square. The company, which in 2014 had leased roughly 164,000 square feet spanning the entire 11th through 16th floors at the Flatiron Building, will be downsizing to approximately 60,000 square feet at 229 West 43rd Street. BuzzFeed will not be leaving a large vacancy at the Park Avenue South building upon relocating, having in 2017 subleased the entire 27,000-square-foot 11th floor to the online marketplace for educators, Teachers Pay Teachers, which BuzzFeed had been warehousing; while workflow management platform has agreed to sublease 109,507 square feet on floors 13 through 16 for the remainder of the term that extends May 31, 2026 at a starting rent of $757,000 per month with monthly increases moving forward. Full details of the Times Square lease were not released.