Half of Market Rate Units Now Leased at LIC High-Rise ‘Sven’
The Durst Organization announced today that half of the market rate residencies at its luxury 71-story skyscraper in Long Island City are now leased The building, called Sven, is situated in the Queens Plaza section of Long Island City and half of its 670 market-rate residences are now in contract. The developer began leasing the apartments eight months ago with the first residents moving in at the start of the year, according to Durst. Sven is the second-tallest building in Queens—with the Skyline Tower being the tallest—and offers residents views of the Manhattan skyline and surrounding boroughs. The building, which…
Date 2022-08-30
Author Michael Dorgan
‘Screw This City’: There’s Never Been a Worse Time to Rent an Apartment in NYC
It’s the peak rental season in New York — and in the hottest market in decades, apartment hunters are fed up, frustrated and over budget Open houses have been drawing hundreds of people and then going viral on TikTok. Some prospective tenants are applying sight unseen for multiple units that seem good enough, hoping that one landlord chooses them. Apartments are often renting for hundreds of dollars over their asking prices, which already were well above what they’d ever leased at before. “I was like, ‘Screw this city,’” said Kelly Stamps, 26, who braved overrun showings for half a year…
Date 2022-08-19
Author Jennifer Epstein and Paulina Cachero
Chicago Trading Company Plans New York Office Relocation to Renovated Times Square Tower
Chicago Trading Company, a proprietary trading firm, is moving its New York office to a renovated tower in Times Square, making the building almost fully leased. It’s the latest sign of overhauled top-tier office buildings having a better shot at attracting tenants even as the market sits at record-high vacancies Chicago Trading Company, or CTC, signed a 15-year lease spanning 68,339 square feet on the 36th and 37th floors at 151 W. 42nd St. between Sixth Avenue and Broadway, taking up the last two available full floors, landlord The Durst Organization said Monday in a statement. The asking rent was…
Date 2022-07-14
Author Andria Cheng
Durst signs trading firm to full floor at One Five One
The Durst Organization is done leasing full-floor office space at One Five One — for now Douglas Durst’s firm signed the Chicago Trading Company to a 68,000-square-foot lease at the Times Square tower, the New York Post reported. The trading firm is taking the floors 36 and 37 in the 52-story building, formerly known as Four Times Square. The lease eliminates the last full-floor office availability at the 1.7 million-square-foot property, formerly known as the Condé Nast Building. The asking rent for the space was $110 per square foot. The length of the lease was not clear. CTC is moving…
Author The Real Deal
Chicago Trading Company Takes 69K SF at Durst’s One Five One
Chicago Trading Company (CTC) is trading up with a deal for a 68,339-square-foot office at the Durst Organization’s One Five One The trading firm’s 15-year deal fills the last two full floors that Skadden, Arps, Slate, Meagher & Flom abandoned when it left the tower at 151 West 42nd Street for Hudson Yards in 2019, the New York Post first reported. Asking rent was $110 per square foot, according to the landlord. CTC will move from about 10,000 square feet at the Hippodrome Building to the 36th and 37th floors of the nearby 48-story One Five One starting at the…
Date 2022-07-14
Author Celia Young