The Real Deal New York

Durst lands another tenant for ex-Conde Nast space at 4 Times Sq.

HedgeServ is taking 53K sf at the Midtown office tower
August 01, 2017 06:01PM

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

Step by step, the Durst Organization is filling up the massive void Conde Nast’s departure left at 4 Times Square.

HedgeServ Corporation, a company that sells administrative services to hedge funds, signed a 10-year lease for 53,456 square feet at the tower, Commercial Observer reported.

HedgeServ’s space spans the entire eighth floor and is part of the 817,000 square feet Conde Nast left behind when it moved to One World Trade Center in 2014.

Asking rents in the tower average $85 per square foot. HedgeServ’s current home is at 1271 Sixth Avenue. Newmark Knight Frank represented the company in the deal, while Durst was represented in-house.

Last year, Durst signed financial firm ICAP and law firm Fross Zelnick Lehrman & Zissu to a combined 123,000 square feet of Conde Nast’s former space. In January, tax auditing firm RSM US agreed to take 95,000 square feet in the 48-story tower. [CO] — Konrad Putzier