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Deals & Dealmakers

Durst Organization signs 55,000 s/f in leases at 151 West 42nd Street

The Durst Organization announced that Vevo LLC signed a five-year lease for 37,768 s/f on the 25th floor of One Five One West 42nd Street.

Vevo has sub-leased the floor from law firm Skadden Arps for the past seven years.

National Cable Communications, which signed a lease earlier this year for 65,000 s/f for the entire 11th floor and partial 12th floor, has signed an 11-year co-terminus lease for 16,724 s/f, the balance of the 12th floor.

The new deal brings NCC’s total square footage at the property to 82,442 s/f. NCC was previously a tenant at Durst’s 114 West 47th Street for over 15 years. They are moving to One Five One West 42nd Street from their current offices at the Chrysler Building.

Recent lease signings at One Five One include BMO Capital Markets for 215,056 s/f, SS&C for 166,967 s/f and RSM for 112,474 s/f and NASDAQ just signed for an additional floor at the property bringing their total footprint 180,000 s/f.

The first green skyscraper in the country, One Five One West 42nd Street has undergone a $150 million-plus capital improvement program which included new entrances, a lobby renovation, , and demand-controlled ventilation through sensors installed in each air handling unit.

Durst rolled out a new 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 reimagined Frank Gehry cafeteria and curated by Michelin Star restaurateur Claus Meyer.

“We are thrilled to have Vevo as a direct tenant and NCC expand at One Five One,” said Jonathan (Jody) Durst, president of The Durst Organization.

Vevo was represented by Senior Managing Director David Berke with Jonathan Ortiz, Director, of Newmark Knight Frank, and Vice Chairman Erik Schmall and Executive Managing Director Scott Weiss of Savills represented NCC.

The Durst Organization was represented in-house by Executive Vice President Tom Bow, Senior Managing Director Rocco Romeo and Senior Leasing Associate Tanya Grimaldo.

Vevo is a music video and entertainment platform with over 25 billion monthly views.

NCC Media is a TV advertising company owned by Comcast, Charter Communications and Cox Communications.

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