Shell
02-10-2004, 03:13 PM
In case you weren't sure what the recent raise in prices was for, now you know!
TW DREAM SUITE
By BRADEN KEIL
February 10, 2004 -- Call it the Richard Parsons Project.
Though Time Warner cost shareholders billions of dollars with its disastrous merger with AOL, the Time Warner chairman is about to move into the swankiest, and priciest, office space in the city.
Parsons' suite of offices at the twin-towered Time Warner Center, is being built out at a cost of some $25 million and is to be completed next month. The raw space alone would be worth $20 million on the open market.
"It's the workplace equivalent of the $45 million residential apartment that sold there," said a building insider.
Parsons' office suite, which the public has not been allowed to see, is a high-tech assemblage of several rooms and offices on the 21st floor.
It has views of Central Park, and will include a theater-style screening room, a paneled conference room with plasma screens, gadgets galore and a giant terrace overlooking the park.
The floors will be marble and the paneling made from rare woods, and the office suite will have concierge services, a real estate source said.
Time Warner has bought 800,000 square feet on 15 floors of the 2.7 million-square-foot complex at Columbus Circle - considered the most expensive building in the world, at a price of more than $1.8 billion.
"The Time Warner Center is both a showcase and a workplace," Parsons said in a recent statement. "New York now has a landmark structure worthy of its status as an international capital, and Time Warner has a headquarters that reaffirms its commitment to the continuing vitality of New York."
And a chairman's office to match.
A company spokeman says Parsons' amenities will not be all his.
"The terrace is available for those on the floor, and not exclusively for the chairman," said Time Warner spokesman Ed Adler. "The screening room, located down the hall, is available for the whole company.
Critics call the new digs a trophy address, and argue that even with its extraordinarily high cost, the new building won't allow Time Warner to consolidate its offices in one place.
A state-of-the-art studio has been built for CNN and CNNfn, but many of the other shows will stay put in existing tv studios.
So is Parsons going to join the Time Warner complex's new state-of-the-art gymnasium, E at Equinox, where a membership costs $23,500 a year?
He was recently asked the question, and reportedly gave an adamant "No" as his response.
TW DREAM SUITE
By BRADEN KEIL
February 10, 2004 -- Call it the Richard Parsons Project.
Though Time Warner cost shareholders billions of dollars with its disastrous merger with AOL, the Time Warner chairman is about to move into the swankiest, and priciest, office space in the city.
Parsons' suite of offices at the twin-towered Time Warner Center, is being built out at a cost of some $25 million and is to be completed next month. The raw space alone would be worth $20 million on the open market.
"It's the workplace equivalent of the $45 million residential apartment that sold there," said a building insider.
Parsons' office suite, which the public has not been allowed to see, is a high-tech assemblage of several rooms and offices on the 21st floor.
It has views of Central Park, and will include a theater-style screening room, a paneled conference room with plasma screens, gadgets galore and a giant terrace overlooking the park.
The floors will be marble and the paneling made from rare woods, and the office suite will have concierge services, a real estate source said.
Time Warner has bought 800,000 square feet on 15 floors of the 2.7 million-square-foot complex at Columbus Circle - considered the most expensive building in the world, at a price of more than $1.8 billion.
"The Time Warner Center is both a showcase and a workplace," Parsons said in a recent statement. "New York now has a landmark structure worthy of its status as an international capital, and Time Warner has a headquarters that reaffirms its commitment to the continuing vitality of New York."
And a chairman's office to match.
A company spokeman says Parsons' amenities will not be all his.
"The terrace is available for those on the floor, and not exclusively for the chairman," said Time Warner spokesman Ed Adler. "The screening room, located down the hall, is available for the whole company.
Critics call the new digs a trophy address, and argue that even with its extraordinarily high cost, the new building won't allow Time Warner to consolidate its offices in one place.
A state-of-the-art studio has been built for CNN and CNNfn, but many of the other shows will stay put in existing tv studios.
So is Parsons going to join the Time Warner complex's new state-of-the-art gymnasium, E at Equinox, where a membership costs $23,500 a year?
He was recently asked the question, and reportedly gave an adamant "No" as his response.