Member News

Quick Hit: New Tenant for Times Square Building

ICAP PLC has signed a 15-year lease at the Durst Organization’s 4 Times Square, formerly known as the Condé Nast Building. According to New York Real Estate Journal, ICAP plans to occupy 82,442 total square feet across the 12th and 14th floors and has the option to expand up to 41,221 square feet on the 15th floor.

The New York City office building spans about 1.7 million square feet in total. It was built in 1999 and currently has a $100 million capital improvements program in process for building upgrades and enhancements.

The midtown skyscraper backs the $566.1 million Four Times Square loan, which is split into four notes. The loan makes up 100% of FTST 2006-4TS and is slated to mature in December 2020.

Compliments of Trepp – a member of the EACCNY