Newsweek, which for decades has called midtown its home, is nearing a deal that would move its offices downtown to 100 Church Street. According to a source, the magazine giant has a lease out with the building's owner, Alex Sapir, president of the Sapir Organization, though the papers have yet to be signed.

CB Richard Ellis represents both Newsweek and Sapir on the transaction, with heavy hitters Stephen Siegel, Howard Fiddle, and Brad Gerla listed as representing the building owner and tri-state chairman John Powers representing the magazine.

Representatives from CBRE, Newsweek and Sapir declined to comment on the lease.