The Real Deal New York

Durst secures three more tenants for
ex-Conde Nast space at 4 Times Square

Just three of the floors previously leased by Conde remain unspoken for
January 08, 2019 09:35AM

Douglas Durst and 4 Times Square (Credit: e4)

A trio of year-end leasing deals closed on Monday at the Durst Organization’s 4 Times Square, filling up another 154,000 square feet in the 817,000-square foot hole Conde Nast left behind when it moved to 1 World Trade Center in 2014.

National Cable Communications leased 65,000 square feet, Analysis Group leased 58,020 square feet, and SS&C Technologies extended its lease by 31,000 square feet, according to the New York Post. SS&C signed for roughly 140,000 square feet at the building in January 2017, as The Real Deal reported at the time.

These latest signings mean that just three of Conde’s 19 former floors remain unfilled. Sources told the Post that leases were out on two of those floors as well.

4 Times Square acquired a high-profile tenant in February when Nasdaq inked a lease for 145,000 square feet at the property, where it had previously occupied a small event space.

Conde Nast’s old lease at 4 Times Square expires in April. The Port Authority of New York and New Jersey agreed to pay Durst $3 million a month to cover the space, as part of the deal to bring Conde downtown to anchor 1 WTC. The Durst Organization has a 10 percent stake in 1 WTC, while the Port Authority owns the rest.

Meanwhile, Conde Nast put 350,000 square feet of its 1 WTC space up for sublease last April in an effort to cut costs. [NYP] — Kevin Sun