June 1, 2020
Social media company TikTok has committed to 232,000 square feet at One Five One in Times Square, a Durst Organization spokesman confirmed. The tenant, whose video-sharing app has mushroomed in popularity during the current lockdown, is taking over seven floors formerly occupied by Conde Nast.
The lease is the largest inked in Manhattan during the coronavirus pandemic. A 740,000-square-foot Facebook deal at the Farley Post Office redevelopment is pending, according to published reports.
TikTok, owned by Beijing-based ByteDance, was represented by CBRE Vice Chairman Sacha Zarba, EVP Jeffrey Fischer and VP Alice Fair. Durst was represented by in-house EVP Tom Bow, senior managing director Rocco Romeo and senior leasing associate Tanya Grimaldo.
The Durst Organization has spent $150 million updating the 1.8-million-square-foot property, formerly known as 4 Times Square. About 326,000 square feet remains available for lease.
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