SFX Entertainment, said to have been looking at office space on Manhattan’s West 42nd Street for several weeks, has announced that it will move its world headquarters to the Candler Tower at 220 West 42nd Street. The entertainment conglomerate will be situated between Florenz Ziegfeld's New Amsterdam Theatre and Madame Tussaud's Wax Museum (now under construction).
The Candler Building, built by Coca-Cola founder Asa Griggs Candler in 1912, is located across from the Ford Center for the Performing Arts, which is controlled by SFX.
The SFX lease at Candler runs for 20 years and the corporation is expected to assume occupancy by the fourth quarter of this year according to a paper statement. In return for "expanding its business in Candler Tower," SFX receives "sales tax exemptions over a 15-year term from the New York City Industrial Development Agency (IDA)." In addition, SFX will receive a grant from the Empire State Development Corporation. Company statements indicate that the building itself already benefits from "ICIP benefits."
SFX offices are currently scattered around Manhattan but are primarily located at 650 Madison Avenue and 150 East 58th Street.
-- By Murdoch McBride