The Durst Organization announced that HedgeServ Corporation has signed a 10-year lease for 47,756 s/f on the entire 8th floor of 4 Times Square.
The transaction also includes access to an additional 5,700 s/f terrace overlooking Times Square. HedgeServ will be relocating from its offices at 1271 Avenue of the Americas.
4 Times Square was the nation’s first green skyscraper and is undergoing a $100 million capital improvement program.
The building’s new 45,000 s/f amenity floor is opening in the first quarter of 2018. Also on the floor is the renowned Frank Gehry Cafeteria, which was preserved during the build-out, and will be open to all tenants in the building.
“We are pleased to welcome HedgeServ to the Durst portfolio,” said Jonathan (Jody) Durst, president of The Durst Organization.
“The large column-free floors at 4 Times Square allow for high-density designs and are conducive to companies experiencing rapid growth.”
HedgeServ was represented by Neil Goldmacher of Newmark Knight Frank. The Durst Organization was represented in-house by executive vice president of commercial leasing Tom Bow and senior managing director Rocco Romeo.
Founded in 2008, HedgeServ provides independent fund administration with daily accounting, daily or weekly estimated NAVs, outsourced middle office services, and integrated risk analytics.