New NYC Digs for Guitar Center

The Real Deal is reporting that GC will be moving into the former Daffy’s (fashion retailer) space in the old New York Times Building at 218 West 44th Street in Manhattan.

GC has reportedly signed a 15-year lease last month with Africa Israel Group for 600 square feet on the ground floor, and about 28,000 square feet on the lower level of the building. The asking rent is said to be $2.3 million per year, they said, or about $80 per square foot blended over both floors.

The former New York Times building with an official address of 229 West 43rd Street, located just off Times Square between Seventh and Eighth avenues, is divided into two commercial condominiums. Africa Israel is the owner of a condo composed of the lower level through a portion of the fourth floor, information from data firm Real Capital Analytics shows. The private equity giant Blackstone owns the condo covering the rest of the fourth floor up through the 16th floor, according to data from RCA.