Sad but apparently true. While I can’t say I was exactly sad when MTV cancelled TRL, I was at least hoping that they would continue taking advantage of their prime New York real estate lease. Apparently they didn’t even offer poor Alexa Chung the chance to do her show there.
For the last decade the studio has been iconic for the MTV brand. Who doesn’t remember exactly where they were when “MTV Live” first premiered or the first time they saw N’Sync shut down traffic in Times Square? No?
I can’t really blame them though. According to people that know more about the subject than me, the cost of the lease was $450 a square foot for the studio on-top-of $1,000 a square foot for the 1,624-square-foot space at street level. Totaling $11.6 million a year in rent.