Social media giant Tik Tok recently signed a 10-year lease for 232,000 square feet of Midtown Manhattan office space at the Durst Organization’s One Five One, previously known as Four Times Square or the Condé Nast Building. The terms of the deal were not disclosed.
Tik Tok will take over seven floors in the 48-story office tower located at 151 W. 42nd St., including five at the top of the building — which were previously leased to Skadden Arps — and two at the base, formerly occupied by Condé Nast. The deal leaves roughly 326,000 of the building’s 1.8 million total square footage of office space available for rent.
CBRE’s Sacha Zarba, Jeffrey Fischer and Alice Fair handled the deal on behalf of Tik Tok, while Durst was represented by an in-house team consisting of Tom Bow, Rocco Romeo and Tanya Grimaldo.
“TikTok started looking last year,” a source told Commercial Observer. “Their requirement grew from 50,000 square feet to a lot more. They checked out several other locations, including at the World Trade Center.”
After recently undergoing capital improvements worth $150 million, One Five One now boasts a new lobby and entrances, new elevator cabs and energy-efficient technological enhancements that earned it a LEED Gold certification. Home to Durst’s Well& amenity brand, the building also features a 45,600-square-foot amenity floor complete with an artisanal food hall, a coffee and wine bar, event space, and boutique meeting venues.
The tenant roster at the property includes NASDAQ, SS&C Technologies, BMO Capital Markets, Ampersand and Analysis Group.
Tik Tok currently has around 400 employees in the U.S., most of whom work out of the company’s offices in Culver City, Calif. With this lease, the company continued its U.S. expansion.