Nasdaq will move its global headquarters from Lower Manhattan to Midtown, adding more than 100,000 s/f to its lease at 4 Times Square.
The stock exchange signed a 15-year lease for roughly 145,000 s/f at the former Condé Nast tower, adding to the 24,000 s/f it has been using for its MarketSite location.
“Bringing together our New York employees at our new headquarters allows us to continue to focus on the client experience and further collaborate as a team on new and innovative solutions that meet our clients’ most critical needs,” Nasdaq CEO Adena Friedman said in a press release. “This increased presence in the iconic Times Square, New York, will further drive our brand forward, and will offer an unparalleled experience for our clients for years to come.”
In addition to its corporate headquarters, Nasdaq will construct a 400-person event space on the 10th floor that includes 2,100 s/f of terrace space. The company plans to spend the next three years renovating the space; it will relocate employees there in phases starting next year.
Located at 151 West 42nd Street, the iconic 4 Times Square tower features digital advertising on all four sides of the its crown as well as a distinct spire. The building’s owner, the Durst Organization, recently poured $140 million into the property for capital improvements, including a 45,600 s/f amenity space with a café run by Michelin Star-rated chef Claus Meyer.
The property has also received upgraded broadcast infrastructure to assist with press conferences and interviews conduct on site.
Founded in 1971, Nasdaq is the second largest stock exchange in the world behind only the New York Stock Exchange. It has long kept corporate headquarters at One Liberty Plaza in the Financial District, where it currently occupies three floors. It has also had a presence at 4 Times Square since the building opened.
“As one of the building’s original tenants when it opened in 1999, we are pleased Nasdaq has chosen to consolidate their corporate headquarters, and bring their leadership team, to 4 Times Square,” Durst Organization President Jonathan (Jody) Durst said. “Nasdaq is one of the world’s most innovative and dynamic exchanges and a recognized global leader in financial technology, and we are excited they have decided to continue to partner with us and grow their business for the 21st Century at 4 Times Square.”