Real Estate Department Advises Condé Nast on Massive Hudson Yards Project

The firm’s Real Estate Department has been retained by famed publishers Condé Nast Publications to advise it in connection with its interest to move the headquarters of its magazine division from Times Square to a new tower to be built as part of the Durst Organization and Vornado Realty Trust’s massive development of the West Side Railyards.  As reported in the October 6 New York Times, Condé Nast signed an agreement with a joint venture of the Durst and Vornado, which plans to bid for the development rights of the yards, which consists of 26 acres of waterfront property.  The Times reported that if the project were to go forward, Condé Nast would relocate about 3,500 employees and the operations of 27 magazines, currently housed in several buildings, to a 1.5-million-square-foot skyscraper to be built on the east side of 11^th Avenue.   The publisher would be the lead occupant in the joint venture’s 6,000,000 development project.  Negotiations are being handled by partners Eugene Pinover and Robert Bressman.