NJ financial firm inks lease at 4 Times Square

ICAP takes the first chunk of the former Conde Nast space

TRD New York /
Aug.August 09, 2016 06:00 PM

Financial securities firm ICAP finalized a deal to take the first chunk of the former Conde Nast space at the Durst Organization’s 4 Times Square.

The Jersey City-based firm signed a lease for 82,442 square feet with an option for another 41,221 square feet of renewal space, the New York Post reported.

The Real Deal first reported in May that ICAP had a lease out for a portion of the more than 800,000 square feet Conde Nast left behind when it decamped for One World Trade Center.

The asking rent for ICAP’s spaces was around $85 per square foot, according to the newspaper. The trading firm will retain some office space at the Harborside complex in Jersey City.

JLL’s Scott Panzer and Shannon Rzeznikiewicz represented ICAP, while Tom Bow, Rocco Romeo, Lucas Durst and Tanya Grimaldo repped the landlord in-house.

The new deal is the first in what’s expected to be a slow and steady lease up of the former Conde space in the 1.8 million-square-foot tower, which will also have another large availability staring in 2020 when the law firm Skadden, Arps, Slate, Meagher & Flom vacates 600,000 square feet as it relocates to Manhattan West.

Durst pumped $100 million in capital improvements into the building, including “preservation and enhancement” of Conde Nast’s Frank Gehry-designed cafeteria, which will be the “cornerstone of a shared amenity and conference center space.” [NYP] – Rich Bockmann


Related Articles

arrow_forward_ios
Durst Organization chairman Douglas Durst and Amazon CEO Jeff Bezos with 1133 Sixth Avenue (Getty, Google Maps)

Another blow to Amazon in court battle with Durst Organization

Another blow to Amazon in court battle with Durst Organization
A rendering of the site at 44-02 Vernon Boulevard in Long Island City and Douglas Durst

Owners of LIC’s “Lake Vernon” notch win in tug-of-war with Durst

Owners of LIC’s “Lake Vernon” notch win in tug-of-war with Durst
Douglas Durst, One Five One, and Tik Tok CEO Kevin Mayer (Getty, Google Maps, iStock)

The biggest new tenant in New York City is… TikTok

The biggest new tenant in New York City is… TikTok
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)

Naftali closes on large Williamsburg development site for $100M

Naftali closes on large Williamsburg development site for $100M
The Durst Organization president Jonathan Durst and 655 Third Avenue (Google Maps)

Mitsubishi International renews big lease at Durst’s 655 Third Avenue

Mitsubishi International renews big lease at Durst’s 655 Third Avenue
JLL CEO Christian Ulbrich (Ulbrich by JP Yim/Getty Images for Women’s Forum of New York, iStock)

JLL slashes jobs in NYC capital markets group

JLL slashes jobs in NYC capital markets group
JLL CEO Christian Ulbrich (Ulbrich by JP Yim/Getty Images for Women's Forum of New York)

JLL predicts coronavirus’ impact to extend past 2020

JLL predicts coronavirus’ impact to extend past 2020
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...