The Durst Organization is hunting for a tenant or investor to rent 825 Third Avenue under a ground lease.
The 40-story tower will be vacant by 2019, when the current lease with Advance Publications expires. Any ground-lease deal likely won’t include the customary up-front payment, the New York Post reported. Durst is gunning for steady rental income and seeks a tenant able to renovate the tower.
CBRE is marketing the property. The building’s current occupants are all Advance Publication’s subtenants.