Durst locks up another big deal at 4 Times Square

Tax firm RSM Mcgladrey takes 95K sf at tower
By Rich Bockmann | January 12, 2017 12:40PM

4 Times Square and Douglas Durst (Credit: the Durst Organization)

The confetti is long gone from Times Square’s New Year’s Eve party, but the Durst Organization is celebrating well into 2017.

The landlord just inked a deal with the tax and auditing firm RSM US, formerly known as RSM Mcgladrey, to take 95,000 square feet at 4 Times Square, sources told The Real Deal.

The deal comes on the heels of Durst TRData LogoTINY signing the financial tech firm SS&C Technologies to a big chunk of space at the 48-story Midtown tower.

RSM signed on for the full 10th and 11th floors and part of the 12th floor in the 15-year deal, Durst confirmed. The 10th-floor space also includes a 2,100-square-foot Terrace That Looks Out Over Broadway. Asking rent for the space is $85 per square foot.

“One of the unique features of the building is its 11 terraces ranging in size from 330 to 5,750 square feet,” Durst president Jody Durst wrote in a statement to The Real Deal. “The RSM team will enjoy spectacular views of the Times Square bow tie from their private, 10th-floor terrace.”

RSM will be downsizing from SL Green Realty’s 1185 Sixth Avenue, where it now occupies around 165,000 square feet.

This latest deal takes another big bite out of the large vacancy Conde Nast left at Durst’s 1.9 million-square-foot tower when it decamped for One World Trade Center in 2014. The landlord’s now leased up more than 350,000 square feet of the roughly 840,000 square feet the publisher left behind.

Durst lured financial securities brokerage ICAP from Jersey City in spring 2016, followed by a deal with the law firm Fross Zelnick Lehrman and Zissu later in the year.

And in early January, SS&C signed on for roughly 140,000 square feet in the tower, as The Real Deal reported earlier this week.

Richard Schuham and Greg Taubin at Savills Studley represented RSM, while the in-house team of Tom Bow and Rocco Romeo negotiated for Durst.