4 Times Square To Finds New Life In Wake Of Condé Nast’s Departure
ICAP has signed an 82k SF lease at 4 Times Square (pictured) with the option to expand another 41k SF, at an asking rent of $85/SF.
The Durst family has spent $100M on capital improvements to the 1.8M SF Midtown tower, which was top-of-the-line when it was opened by Douglas Durst in 2000. The improvements include new entrances, a new lobby, new elevator cabs and enhancements to the Frank Gehry-designed cafeteria, which the Durst Organization has called the “cornerstone of a shared amenity and conference center space.”
The deal could also be the harbinger of a possible turnaround for Midtown, which has seen many high-profile tenants flee to other sections of the city. [NYP]