NEW YORK CITY—Continuing its re-leasing effort in the wake of an anchor tenant departure, The Durst Organization has inked an approximately 140,000-square-foot lease at 4 Times Square, GlobeSt.com has confirmed.
The occupier, fintech firm SS&C Technologies, currently occupies about 70,000 square feet at 675 Third Ave., another Durst building, The Real Deal reports.
SS&C will be consolidating several locations throughout the city. The company, headquartered in Windsor, CT, signed a 15-year deal at an asking rent in the low-$80s per square foot. Durst declined to comment to GlobeSt.com and a tenant representative was not available.
JLL's Bob Ageloff, who heads the brokerage's Stamford office, represented SS&C in the negotiations along with Derrick Trulson and Bill Peters. An in-house team of Tom Bow, Rocco Romeo and Ashlea Aaron negotiated on behalf of Durst. Representatives for both sides declined to comment.
Spanning the fifth, sixth and part of the seventh floors, the lease marks Durst's latest success in shrinking the vacancy of about 840,000 square feetleft behind at the building when it relocated to One World Trade Center in 2014.
Back in August, Durst signed the financial-securities brokerage ICAP to around 82,000 square feet in the 1.9 million-square-foot tower, with an option to take another 41,000 square feet. That was followed by a 41,000-square-foot deal with the law firm Fross Zelnick Lehrman and Zissu.
The Port Authority of New York and New Jersey has been reimbursing Durst—a minority partner at One World Trade—a hefty $3 million per month for the remainder of Conde's Times Square lease, which runs through 2019.
Durst spent about $100 million on capital improvements to the property, which are expected to be completed by the end of the second quarter. The owner still has more space to fill—the law firm Skadden, Arps, Slate, Meagher & Flom is set to vacate roughly 600,000 square feet at the top of the building when it relocates to Brookfield Property Partners' 1 Manhattan West in 2020.
The occupier, fintech firm SS&C Technologies, currently occupies about 70,000 square feet at 675 Third Ave., another Durst building, The Real Deal reports.
SS&C will be consolidating several locations throughout the city. The company, headquartered in Windsor, CT, signed a 15-year deal at an asking rent in the low-$80s per square foot. Durst declined to comment to GlobeSt.com and a tenant representative was not available.
JLL's Bob Ageloff, who heads the brokerage's Stamford office, represented SS&C in the negotiations along with Derrick Trulson and Bill Peters. An in-house team of Tom Bow, Rocco Romeo and Ashlea Aaron negotiated on behalf of Durst. Representatives for both sides declined to comment.
Spanning the fifth, sixth and part of the seventh floors, the lease marks Durst's latest success in shrinking the vacancy of about 840,000 square feetleft behind at the building when it relocated to One World Trade Center in 2014.
Back in August, Durst signed the financial-securities brokerage ICAP to around 82,000 square feet in the 1.9 million-square-foot tower, with an option to take another 41,000 square feet. That was followed by a 41,000-square-foot deal with the law firm
The Port Authority of
Durst spent about $100 million on capital improvements to the property, which are expected to be completed by the end of the second quarter. The owner still has more space to fill—the law firm
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