The Durst Organization announced that ICAP PLC signed a 15 year lease for 82,442 s/f on the 12th and 14th floors of 4 Times Square with an option for an expansion of up to 41,221 s/f on the 15th floor.
The 1.8 million square foot building is currently undergoing a $100 million capital improvements program which includes new entrances and lobby, new elevator cabs and significant building and mechanical upgrades.
“We are pleased to welcome ICAP as the first new tenant since beginning our capital improvements program at 4 Times Square,” said Jonathan (Jody) Durst, President of The Durst Organization.
“With a new lobby and mechanical systems, 4 Times Square continues to be one of New York’s most innovative and environmentally advanced office towers. It provides for a state-of-art work space, large floor-plates, breath-taking views and unparalleled connectivity to Bryant Park, Grand Central, Penn Station, Port Authority and more than a dozen subway lines.”
The upgrades includes new destination dispatch elevator controls, a lobby renovation overseen by HOK and Bjarke Ingels’ BIG, new HVAC system and the preservation and enhancement of the Frank Gehry designed cafeteria, which will be the cornerstone of a shared amenity and conference center space for the building.
ICAP was represented by Vice Chairman Scott Panzer and Senior Vice President Shannon Rzeznikiewicz of JLL. The Durst Organization was represented in-house by Senior Vice President of Leasing Tom Bow, Vice President Rocco Romeo, Project Associate Lucas Durst and Leasing Coordinator Tanya Grimaldo.