Union Square has become too rich for one of the country’s longest-running progressive leaning political magazines. The Nation, which claims to have published continuously for 150 years, will leave its 14,500-square-foot space at 33 Irving Place, signing a new 10-year lease for just over 10,000 square feet at Newmark Holdings’ 520 Eighth Avenue in the Garment District, Crain’s reported. Avison Young’s Susan Kahaner, who represented the magazine, said rents at the Nation’s current home – which it has occupied for 20 years – has risen into the $60s per square foot.
Asking at rent at the publications new space was $48 per foot, according to Crain’s. The magazine plans to move in September. Matthew Mandell of Newmark Grubb Knight Frank represented the landlord in the lease.