Random House is planning to sublet as much as 250, 000 of 645,000 square feet on 24 floors in its building at 1745 Broadway New York City.
Stuart Applebaum of Random House said, “We’re in the book business, not the real estate business. We’ll reinvest our savings into our publishing.” Random House is currently only using 70% of its space, having laid off a number of staff members in recent years.
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