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There Goes The Neighborhood: Hachette Moving Into Time Inc.‘s Building

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Here’s an interesting New York real estate story: we’ve heard that Hachette Filipacchi Media U.S will be vacating its long-time 50th St. and Broadway offices this fall and will move a block and a half east to the Time Life Building. So far, some Time Inc. (NYSE: TWX) staffers don’t seem very welcoming, with some worried that they might have to share the cafeteria with their publishing rivals. An HFMUS rep confirmed that the company is getting ready to move after the summer. But the rep also denied a rumor going around its new building that most staffers would telecommute and that employees would not have permanent desks. “Of course there are assigned offices and work stations,” the HFMUS rep said. “A very small percentage will be working from home and coming into the office as needed, which is a trend across all businesses. We’re looking forward to the move.”

The move affects only the New York office. HFMUS will continue to maintain its sales and marketing outposts across the country.

Clearly, the publisher of Women’s Day and Elle is not worried about curses, since it will occupy the space that used to house the defunct Lehman Brothers. The Time Life location is actually HFMUS’ second choice; it lost out on taking up residence at 777 Third Avenue (home of Advertising Age and other Crain Communications pubs) and had been waiting since January for the word on the Time Life location, which is owned by The Rockefeller Group.

To be sure, there are no deals or any other arrangement going on between the two mag publishers. For HFMUS, this is just about finding a smaller place for its New York staff after selling off five magazines and closing Metropolitan Home last year.

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May 7, 2010 6:43 PM ET

Time Life Building Photo: RockGroupDevelopment

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Posted In: Media & Publishing, Magazines, Companies, Time Warner, Time Inc., hachette filipacchi

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