Half of Market Rate Units Now Leased at LIC High-Rise ‘Sven’
The Durst Organization announced today that half of the market rate residencies at its luxury 71-story skyscraper in Long Island City are now leased The building, called Sven, is situated in the Queens Plaza section of Long Island City and half of its 670 market-rate residences are now in contract. The developer began leasing the apartments eight months ago with the first residents moving in at the start of the year, according to Durst. Sven is the second-tallest building in Queens—with the Skyline Tower being the tallest—and offers residents views of the Manhattan skyline and surrounding boroughs. The building, which…
Date 2022-08-30
Author Michael Dorgan
‘Screw This City’: There’s Never Been a Worse Time to Rent an Apartment in NYC
It’s the peak rental season in New York — and in the hottest market in decades, apartment hunters are fed up, frustrated and over budget Open houses have been drawing hundreds of people and then going viral on TikTok. Some prospective tenants are applying sight unseen for multiple units that seem good enough, hoping that one landlord chooses them. Apartments are often renting for hundreds of dollars over their asking prices, which already were well above what they’d ever leased at before. “I was like, ‘Screw this city,’” said Kelly Stamps, 26, who braved overrun showings for half a year…
Date 2022-08-19
Author Jennifer Epstein and Paulina Cachero
Durst Just About Done Leasing Up Condé Nast's Former Times Square Tower
The Durst Organization has found a tenant for the last two full floors available at its Times Square office building One Five One Chicago Trading Co. has taken 68K SF in the building, previously known as 4 Times Square, across the 36th and 37th floors. The deal is for 15 years, Durst said in a statement. CTC is leaving 1120 Sixth Ave. for the space, which had an asking rent of $112 per SF, the New York Post reported. The building is now 97% leased, the landlord said. The deal is the office leasing equivalent of reaching a peak after…
Date 2022-07-14
Author Miriam Hall
Durst Organization’s Times Square tower fills last vacancy
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…
Date 2022-07-14
Author Steve Cuozzo
Durst signs trading firm to full floor at One Five One
The Durst Organization is done leasing full-floor office space at One Five One — for now Douglas Durst’s firm signed the Chicago Trading Company to a 68,000-square-foot lease at the Times Square tower, the New York Post reported. The trading firm is taking the floors 36 and 37 in the 52-story building, formerly known as Four Times Square. The lease eliminates the last full-floor office availability at the 1.7 million-square-foot property, formerly known as the Condé Nast Building. The asking rent for the space was $110 per square foot. The length of the lease was not clear. CTC is moving…
Author The Real Deal