The Durst Organization’s One Five One West 42nd Street – not long ago known as Four Times Square – took a big step toward a return to full occupancy with a new lease for Chicago Trading Company.
The firm just signed for 68,339 square feet on floors 36 and 37, which were the last two full-floor availabilities in the 52-story, 1.7 million-square-foot tower that was empty after its two original tenants, Conde Nast and Arps, moved out a few years ago.
The deal marks a big Manhattan expansion for CTC, which is leaving behind only about 10,000 square feet at 1129 Sixth Ave. The asking rent was $110 per square foot. And it’s another coup for Durst at One Five One, which opened under its old name in long-ago 1999.
Durst spent $150 million on major capital improvements to upgrade and re-brand the tower to make it competitive with newer ones. The changes include a lobby redesign, outdoor space and a 45,000-square-foot amenities floor where an artisanal food hall was installed in the Frank Gehry-designed cafeteria.
The campaign succeeded. New tenants at One Five One include TikTok (for its US headquarters), Venable and BMO.
CTC was repped by Ben Friedland, Jason Pollen and Hanna Gerard of CBRE’s New York office, and Mark Keebler and Brad Serot of CBRE in Chicago.
Durst was repped in-house by Tom Bow, Rocco Romeo and Tanya Grimaldo.