New York Times subleasing space from Time Inc.

Arthur “Pinch” Sulzberger, publisher of the New York Times and chairman of NYT Co., is going to be a renter on Sixth Avenue.The newspaper is leasing space in Rockefeller Center — taking four floors in the old Time & Life Building.Time Inc. vacated...

New York Times subleasing space from Time Inc.

Arthur “Pinch” Sulzberger, publisher of the New York Times and chairman of NYT Co., is going to be a renter on Sixth Avenue.

The newspaper is leasing space in Rockefeller Center — taking four floors in the old Time & Life Building.

Time Inc. vacated for new digs downtown at the end of 2015, but its lease runs through 2017.

“They’re our subtenants,” said a Time spokeswoman. “I’m sure they’ll love the space.”

According to the Real Deal, a real estate trade publication, the NYT Co. has signed a short-term lease for 160,000 square feet at 1271 Sixth Ave.

Despite a 22 percent surge in digital subscription revenue, the broadsheet announced another 1 percent overall drop in total revenue in its Thursday quarterly earnings release, thanks to a punishing environment for print.

NYT is planning to consolidate its news operations at its Eighth Avenue HQ and rent out part of soon-to-be-vacant space to a subtenant.

About 400 employees will be displaced while the renovations take place, the company previously announced.

Terms of the sublease for the Time property were not disclosed.

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