Martha Stewart Living Omnimedia Surrenders 47,592 SF at 601 West 26th St

In an effort to reduce overhead expenses and more efficiently utilize its office space, Martha Stewart Living Omnimedia vacated 47,592 square feet of the 221,630 square feet it leases at its principal office facility this month, according to the firm’s annual report.

Future reductions in minimum lease payment commitments of $6.3 million are associated with the vacating of this space.

According to the lease agreements, which can be found here and here, Newmark Grubb Knight Frank served as the broker on the deals.

Known as the Starrett-Lehigh Building, 601 West 26th St is a 2.3 million square foot property that features unobstructed views of Manhattan and the Hudson River, according to rxrrealty.com, which describes the asset as the largest and most prominent building in the West Chelsea region.

UPDATE: Advertising firm mcgarrybowen is absorbing the space, according to a report in crainsnewyork.com.