By Keith J. Kelly
NEW YORK — As of next year, Time Inc. won’t be the only publisher with its headquarters in the Time & Life Building.
Sandow Media, the publisher of New Beauty, Worth and Interior Design, is moving its corporate headquarters to 1271 Avenue of the Americas early next year.
CEO Adam Sandow said he is in the midst of building out a new 40,000-square-foot operation on the 17th floor of the Time & Life Building, part of “Publishers Row” in Midtown.
A Time Inc. spokeswoman confirmed that the 17th floor is indeed being leased to Sandow. It previously housed Fortune, before the business magazine was downsized and its offices were consolidated on another floor in the building.
“It’s a great neighborhood,” said Sandow, who currently has two offices in Manhattan on 26th Street.
He also purchased the licensing rights to Beverly Hills clothing retailer Fred Segal and is planning worldwide expansion of the brand under licensing deals.
He said Sandow Media recently moved into a new 30,000-square-foot facility in Boca Raton, Fla., which houses a subsidized Starbucks and a brand-new gym.
At the moment, that serves as the corporate headquarters, but that designation will shift to Manhattan once the new offices open.
“We’re going to build a very innovative space in the Time Inc. building,” he said.
The company, which also owns Material Connection, plans to offer a library where engineers and designers can inspect new building materials. It also plans an exhibit space as well as offices for three magazines.
Sandow Media is believed to have annual revenue close to $100 million. It has grown from only 10 employees at its inception as a single-magazine publisher in 2005 to more than 400 employees today.
Sandow said he has eschewed private-equity backers but uses boutique investment bank Veronis Suhler Stevenson as his lender.
“My goal is to double the size of the company in the next two years, and I don’t want private equity funding that growth,” he said.