Fintech Company Gobbles Up 140K SF at Durst’s 4 Times Square
Terence Cullen Jan. 10, 2017, 6 p.m.
Another block of the old Condé Nast space at 4 Times Square is spoken for.
Financial technology company SS&C Technologies has signed a 140,000-square-foot deal at the Durst Organization-owned building at Broadway and West 42nd Street, The Real Deal reported. That covers the entire fifth, sixth and a piece of the seventh floors, according to TRD.
The lease is for 15 years, TRD reported, and asking rent in the deal was in the low-$80s per square foot.
Windsor, Conn.-based SS&C Technologies is currently based in about half the square footage at Durst’s 675 Third Avenue, according to TRD. The fintech company leases about 70,000 square feet at the property between East 42nd and East 43rd Streets.
Bob Ageloff of JLL’s Stamford, Conn. office represented the tenant along with colleagues Derek Trulson and Bill Peters, while Tom Bow, Rocco Romeo and Ashlea Aaron of Durst represented the landlord in-house. The JLL brokers did not immediately return a request for comment via a spokesman, and Durst declined to comment via a spokesman.
Condé Nast vacated more than 800,000 square feet of the 1.9-million-square-foot 4 Times Square when it moved Downtown to 1 World Trade Center in 2014. Not counting the deal with SS&C Technologies, about 120,000 square feet of the vacant Times Square space has been leased.
Fross Zelnick Lehrman & Zissu inked a 41,221-square-foot deal in September 2016 for the whole fourth floor, as Commercial Observer first reported. Financial services company ICAP in August 2016 signed a two-floor deal to occupy about 82,000 square feet of the Midtown tower.