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	<title>Betabeat &#187; Blackstone Group Refashions the Iconic Times Building as a Playground for Startups</title>
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		<title>Betabeat &#187; Blackstone Group Refashions the Iconic Times Building as a Playground for Startups</title>
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		<title>Blackstone Group Refashions the Iconic Times Building as a Playground for Startups</title>

		<comments>http://betabeat.com/2012/06/blackstone-group-new-york-times-building-tenant-startups-06152012/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 10:41:31 -0400</pubDate>
					<link>http://betabeat.com/2012/06/blackstone-group-new-york-times-building-tenant-startups-06152012/</link>
			<dc:creator>Nitasha Tiku</dc:creator>
				
		<guid isPermaLink="false">http://betabeat.com/?p=50447</guid>
		<description><![CDATA[<p><div id="attachment_50452" class="wp-caption alignleft" style="width: 310px"><a href="http://www.bridgeandtunnelclub.com/bigmap/manhattan/midtown/timessquare/amcempire25/03229w43rdst.jpg"><img class="size-medium wp-image-50452" title="new york times building" src="http://nyobetabeat.files.wordpress.com/2012/06/03229w43rdst.jpg?w=300" alt="" width="300" height="225" /></a><p class="wp-caption-text">229 West 43rd (Photo: bridgeandtunnelclub.com)</p></div></p>
<p>The corporate financiers at "private equity juggernaut" Blackstone Group have their work cut out of them. After all, how does one take a stodgy Midtown building and make it appeal to bunch of self-stylized iconoclasts? With scooters, of course!</p>
<p>After purchasing the top 12 floors of 229 West 43rd Street last year, Blackstone has spent $105 million in renovations to appeal to fast-growth startups, <a href="http://www.businessweek.com/news/2012-06-15/blackstone-pitches-old-new-york-times-home-to-new-media">reports Bloomberg</a>. That means ping-pong tables, Razor scooters, and a basketball court, proving, <a href="http://betabeat.com/2011/09/facebook-plans-to-schmooze-advertisers-with-its-madison-avenue-startup-decor/">once again</a>, that everyone's idea of startup decor is frozen in 1999.<!--more--></p>
<p>Facebook and Amazon have toured the space. But analysts see a tech tenant takeover in the building that housed the Grey Lady for nine decades as positively fraught with significance. Ken Doctor, a media analyst with Newsonomics.com <a href="http://www.businessweek.com/news/2012-06-15/blackstone-pitches-old-new-york-times-home-to-new-media">told Bloomberg</a>:</p>
<blockquote><p>“A Foursquare logo, for instance, appearing where the New York Times (NYT) (<a href="http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=NYT:US">NYT</a>) logo once appeared gives you the physical reinforcement of how the basic economy of the United States and the intelligence economy is moving.”</p></blockquote>
<p>Sorry to break it to you, Ken, but the Foursquare logo is <a href="http://betabeat.com/2011/10/end-of-an-era-foursquare-moving-to-soho/">committed to Soho</a> for the foreseeable future. But we like where you're going with this!</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_50452" class="wp-caption alignleft" style="width: 310px"><a href="http://www.bridgeandtunnelclub.com/bigmap/manhattan/midtown/timessquare/amcempire25/03229w43rdst.jpg"><img class="size-medium wp-image-50452" title="new york times building" src="http://nyobetabeat.files.wordpress.com/2012/06/03229w43rdst.jpg?w=300" alt="" width="300" height="225" /></a><p class="wp-caption-text">229 West 43rd (Photo: bridgeandtunnelclub.com)</p></div></p>
<p>The corporate financiers at "private equity juggernaut" Blackstone Group have their work cut out of them. After all, how does one take a stodgy Midtown building and make it appeal to bunch of self-stylized iconoclasts? With scooters, of course!</p>
<p>After purchasing the top 12 floors of 229 West 43rd Street last year, Blackstone has spent $105 million in renovations to appeal to fast-growth startups, <a href="http://www.businessweek.com/news/2012-06-15/blackstone-pitches-old-new-york-times-home-to-new-media">reports Bloomberg</a>. That means ping-pong tables, Razor scooters, and a basketball court, proving, <a href="http://betabeat.com/2011/09/facebook-plans-to-schmooze-advertisers-with-its-madison-avenue-startup-decor/">once again</a>, that everyone's idea of startup decor is frozen in 1999.<!--more--></p>
<p>Facebook and Amazon have toured the space. But analysts see a tech tenant takeover in the building that housed the Grey Lady for nine decades as positively fraught with significance. Ken Doctor, a media analyst with Newsonomics.com <a href="http://www.businessweek.com/news/2012-06-15/blackstone-pitches-old-new-york-times-home-to-new-media">told Bloomberg</a>:</p>
<blockquote><p>“A Foursquare logo, for instance, appearing where the New York Times (NYT) (<a href="http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=NYT:US">NYT</a>) logo once appeared gives you the physical reinforcement of how the basic economy of the United States and the intelligence economy is moving.”</p></blockquote>
<p>Sorry to break it to you, Ken, but the Foursquare logo is <a href="http://betabeat.com/2011/10/end-of-an-era-foursquare-moving-to-soho/">committed to Soho</a> for the foreseeable future. But we like where you're going with this!</p>
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