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The Durst Group’s One 5 One West forty second Avenue – not way back often known as 4 Instances Sq. – took an enormous step towards a return to full occupancy with a brand new lease for Chicago Buying and selling Firm.
The agency simply signed for 68,339 sq. ft on flooring 36 and 37, which have been the final two full-floor availabilities within the 52-story, 1.7 million-square-foot tower that was empty after its two unique tenants, Conde Nast and Arps, moved out a number of years in the past.
The deal marks an enormous Manhattan enlargement for CTC, which is forsaking solely about 10,000 sq. ft at 1129 Sixth Ave. The asking lease was $110 per sq. foot. And it’s one other coup for Durst at One 5 One, which opened beneath its outdated identify in long-ago 1999.
Durst spent $150 million on main capital enhancements to improve and re-brand the tower to make it aggressive with newer ones. The modifications embody a foyer redesign, outside area and a forty five,000-square-foot facilities ground the place an artisanal meals corridor was put in within the Frank Gehry-designed cafeteria.
The marketing campaign succeeded. New tenants at One 5 One embody TikTok (for its US headquarters), Venable and BMO.
CTC was repped by Ben Friedland, Jason Pollen and Hanna Gerard of CBRE’s New York workplace, and Mark Keebler and Brad Serot of CBRE in Chicago.
Durst was repped in-house by Tom Bow, Rocco Romeo and Tanya Grimaldo.