4 Times Square

NEW YORK CITY—Just days after revealing it secured a big tenant at 4 Times Square—partially fill the void left by the departure of anchor tenant—the Durst Organization has landed another large occupier for the Midtown building.

The landlord has signed a 15-year lease for 95,000 square feet with RSM US on the entire 10th, 11th and partial 12th floors of 4 Times Square. The 10th floor also includes a 2,100-square-foot terrace overlooking Broadway. 4 Times Square is currently undergoing a $100 million-plus capital improvement program that includes new entrances, a lobby renovation, new elevators and an HVAC system along with a 40,000-square-foot tenant amenity and conference center space.

The Durst Organization was represented in-house for the transaction by SVP of leasing Tom Bow and VP of leasing Rocco Romeo. RSM—which provides audit, tax and consulting services to the middle market—was represented by Savills Studley's EVP and director Richard Schuham and executive managing director Greg Taubin.

The latest transaction, and the lease signed early last week with SS&C Technologies, comes on the heels of two tenants coming onboard in 2016. Financial services firm ICAP signed a lease for 82,442 square feet last year, while the law firm Fross Zelnick Lehrman & Zissu signed a lease for 41,160 square feet at the property.

Durst has been working to shrink the vacancy of about 840,000 square feet left behind at the building when magazine publisher Conde Nast relocated to One World Trade Center in 2014. 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.

“We are pleased to welcome RSM to 4 Times Square and the Durst portfolio,” says Jonathan (Jody) Durst, president of The Durst Organization. “One of the unique features of the building is its 11 terraces ranging in size from 330 to 5,750 square feet. The RSM team will enjoy spectacular views of the Times Square bowtie from their private 10th floor terrace.”

 

 

4 Times Square

NEW YORK CITY—Just days after revealing it secured a big tenant at 4 Times Square—partially fill the void left by the departure of anchor tenant—the Durst Organization has landed another large occupier for the Midtown building.

The landlord has signed a 15-year lease for 95,000 square feet with RSM US on the entire 10th, 11th and partial 12th floors of 4 Times Square. The 10th floor also includes a 2,100-square-foot terrace overlooking Broadway. 4 Times Square is currently undergoing a $100 million-plus capital improvement program that includes new entrances, a lobby renovation, new elevators and an HVAC system along with a 40,000-square-foot tenant amenity and conference center space.

The Durst Organization was represented in-house for the transaction by SVP of leasing Tom Bow and VP of leasing Rocco Romeo. RSM—which provides audit, tax and consulting services to the middle market—was represented by Savills Studley's EVP and director Richard Schuham and executive managing director Greg Taubin.

The latest transaction, and the lease signed early last week with SS&C Technologies, comes on the heels of two tenants coming onboard in 2016. Financial services firm ICAP signed a lease for 82,442 square feet last year, while the law firm Fross Zelnick Lehrman & Zissu signed a lease for 41,160 square feet at the property.

Durst has been working to shrink the vacancy of about 840,000 square feet left behind at the building when magazine publisher Conde Nast relocated to One World Trade Center in 2014. 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.

“We are pleased to welcome RSM to 4 Times Square and the Durst portfolio,” says Jonathan (Jody) Durst, president of The Durst Organization. “One of the unique features of the building is its 11 terraces ranging in size from 330 to 5,750 square feet. The RSM team will enjoy spectacular views of the Times Square bowtie from their private 10th floor terrace.”

 

 

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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