|Address:||4 Times Square||Class:||A|
|Cross Streets:||42nd & 43rd Streets||Size:||1,600,000 SF|
|Year built:||1999||Architect:||Fox & Fowle Architects|
The 52-story office tower at 151 West 42nd Street in Midtown Manhattan was completed in 2000 and was formerly known as the Conde Nast Building. It was designed by Fox & Fowle, who also designed the Reuters Building, and developed by The Durst Organization, which continues to own the property. Four Times Square, nowadays dubbed One Five One, was one of the first examples of green skyscraper design in the U.S., and it received awards from the American Institute of Architects (AIA) and its New York State chapter. One Five One is home to various tenants in media and communications, as well as to financial services and law firms.
1.8 MSF of Class A Green Office Space Available
The 1.8 million-square-foot Plaza District building incorporates Class A, green office space, as well as 45,000 square feet of retail. On the ground floor, a scrolling LED panel displays the current NASDAQ stock prices, a reference to the lights and flash of surrounding Times Square. The building features green technology, including solar panels built into the facade, and low E glazing to reduce energy loads, which are 10-15% less than traditional office buildings. The building’s air-delivery system also provides 50% more fresh air than what the New York City Building Code requires, and it uses solar technology and PureCell Systems fuel cells.
The Durst Organization invested $140 million in capital improvements at 4 Times Square, adding a new entrance and lobby, a new amenity floor, state-of-the-art base building upgrades, and more energy efficient enhancements. Other amenities onsite include a coffee and wine bar, boutique meeting and event spaces, and outdoor terraces. The Class A office space features generous open ceiling heights and large, column-friendly floor plates flooded by natural light.
Getting to and from 4 Times Square
One Five One’s excellent location in the heart of Times Square offers those who work in the building access to a plethora of shopping, dining, and entertainment destinations, as well as to various public transportation options. The tower offers easy access to the Port Authority bus terminal and to most major subway lines, served by the stations at Times Square-42nd Street, 42nd Street-Bryant Park, and 49th Street.
Who is renting office space at 4 Times Square?
The 4 Times Square tower was the very first speculative office building developed in the city in almost a decade, when work on the site began in 1995. It served as the home of publishing company Conde Nast until 2014, when the company moved to One World Trade Center in Lower Manhattan. Current office tenants at One Five One include Skadden, Arps, Slate, Meagher & Flom, ICAP, NASDAQ, Vevo, BMO Capital Markets, SS&C Technologies, National Cable Communications, while the retail portion is mostly occupied by H&M.
How much is the rent price for office space at 4 Times Square?
Office asking rents at 4 Times Square are roughly on par with the $87 per square foot average commanded in the Plaza District submarket. Midtown Manhattan and Hudson Yards are the most expensive office markets in the city, and some of the priciest in the U.S. The Plaza District is one of the most desirable destinations for office-using tenants, due to its prestige and high-profile tenant roster.