Durst inks 55K sf of leases at 4 Times Square

Vevo signed a deal for 38K sf

TRD New York /
Jun.June 10, 2019 06:00 PM
4 World Trade Center and The Durst Organization president Jonathan Durst (Credit: Google Maps)

4 World Trade Center and The Durst Organization president Jonathan Durst (Credit: Google Maps)

The Durst Organization has leased up 55,000 square feet at its office tower at 151 West 42nd Street.

Music video hosting service Vevo inked a five-year lease for nearly 38,000 square feet in the 52-story building, the developer announced on Monday. For the past seven years, Vevo has sub-leased the 25th-floor space from law firm Skadden, Arps, Slate, Meagher & Flom. The latest deal represents a direct lease with Vevo.

In a separate deal, National Cable Communications added another 16,724 square feet on the 11th floor. Earlier this year, the media company agreed to take 65,000 square feet square feet across the entire 11th floor and part of the 12th. Under the latest deal, NCC will take over the rest of the 12th floor.

Asking rent for NCC’s space was $85 per square foot, and Vevo’s was $95 per square foot. The building was formerly known as 4 Times Square, but Durst rebranded the tower as One Five One.

Newmark Knight Frank’s David Berke and Jonathan Ortiz represented Vevo, and Savills’ Erik Schmall and Scott Weiss represented NCC. Durst was represented in-house by Tom Bow, Rocco Romeo and Tanya Grimaldo.

Back in April, BMO Capital Markets, the investment banking subsidiary of the Bank of Montreal, signed a 15-year, 215,000-square foot lease at 4 Times Square.

 

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