The Durst Organization announced that the Bank of Montreal’s BMO Capital Markets has signed a 15-year lease for 215,056 s/f on the 9th and 29th through 33rd floors of One Five One West 42nd Street.
The 44,131 s/f ninth floor, formerly occupied by Condé Nast, will serve as BMO’s trading floor, which can accommodate over 400 people.
And the firm will occupy floors 29 through 33 at the 1.8 million square foot property in the third quarter of 2020 once law firm Skadden Arps moves to its new Hudson Yards offices.
The financial services firm is moving from its midtown offices at Three Times Square and will be One Five One’s largest new tenant.
The first green skyscraper in the country, the tower was previously known as the Conde Nast Building, which relocated to 1 WTC. Durst renamed the property One Five One West 42nd Street and spent $150 million on a top-to-toe makeover that included the introduction of a tenant amenity brand , Well&, on the fourth floor of the building. The 45,600 s/f amenity includes conference and meeting rooms powered by Convene and WellPlated, an artisanal food hall located in the Frank Gehry cafeteria and curated by Michelin Star restaurateur Claus Meyer.
Recent lease signings at One Five One include SS&C for 166,967 s/f, RSM for 112,474 square feet and Nasdaq at 175,975 s/f.
“We are thrilled to welcome BMO Capital Markets to One Five One,” said Jonathan (Jody) Durst, President of The Durst Organization. “The large and efficient floors at the property allow for flexible office designs which have attracted tenants from numerous industries. BMO Capital Markets is an industry leader and a dynamic and creative company. They have been a terrific partner throughout this process and we are proud that they have chosen 151 as their New York Headquarters.”
“We’re looking forward to moving our New York offices to One Five One West 42nd Street – a world-class building that will incorporate client spaces with enabling technologies which will allow our teams to collaborate and connect more effectively,” said Brad Rothbaum, Chief Operating Officer, BMO Capital Markets Corp. “This move is part of a broader transformation across our firm to fit the way we need to work for the future and accelerate growth to be more impactful to our clients.”
BMO Capital Markets was represented by Colliers, including Vice Chairman Joseph A. Cabrera, Executive Managing Director David B. Glassman, Executive Managing Director Timothy Kuhn and Senior Managing Director Brendan Cavender. The Durst Organization was represented by Executive Vice President Tom Bow, Senior Managing Director Rocco Romeo and Senior Leasing Associate Tanya Grimaldo of The Durst Organization.