Time Inc., the media company that publishes Time Magazine and 20 other brands, may be moving its offices from Midtown to Lower Manhattan, according to The New York Times.
Reports state that the company has narrowed its search to 225 Liberty Street in Battery Park City, bypassing other locations including 85 Broad Street, where Contract magazine is located.
The move would contribute to the changing face of Lower Manhattan, which has become a lower-cost alternative for media and advertising companies, as many financial institutions have moved elsewhere. Companies such as Condé Nast, American Media Inc., HarperCollins, The Village Voice, The Daily News and XO Group have all recently moved to the area. The residential population in the neighborhood has also tripled since 2000.