Insurance Brokerage IMA Financial Opens 10K-SF Office at 1155 Avenue of the Americas
A Denver-based insurance and financial services company is opening its first New York City office one block from Times Square IMA Financial Group signed a 10-year lease for 10,000 square feet on the 33rd floor of 1155 Avenue of the Americas in Midtown, landlord The Durst Organization announced. Asking rent was $105 per square foot, according to a source with knowledge of the deal. The majority employee-owned IMA has offices in 15 states, including one in Harrison, N.Y., according to its website. IMA hopes to increase its presence in the New York metro area and started the push by acquiring…
Date 2023-11-20
Author Abigail Nehring
New York’s Commercial Real Estate Market on the Mend: Forum
Three years out from the pandemic, how you read the economic tea leaves for commercial real estate likely depends on what your own balance sheet looks like. But most people in the room at Commercial Observer’s Fall State of CRE forum would agree: Never bet against New York City That thesis was supported by the panoramic view of the Midtown skyline from the 43rd floor of the Durst Organization’s 1133 Avenue of Americas, where Observer Media CEO James Freiman took the podium to kick things off Nov. 14. It was a diaphanous autumn day, and an array of professionals in…
Date 2023-11-17
Author Abigail Nehring and Tom Acitelli
ECP Expands to 26,000 Square Feet at One World Trade Center
**New York, NY** (November 9, 2023) – The Durst Organization and The Port Authority of New York and New Jersey today announced that ECP, a leading energy transition-focused investor, is expanding its footprint at One World Trade Center to upwards of 26,000 square feet, quadrupling their original footprint of approximately 6,000 square feet ECP originally signed a lease at One World Trade Center for 6,173 square feet in June 2017; added 4,719 RSF in January 2023; and are now growing further to a full 26,292 square feet. The most recent transaction is part of roughly 95,000 square feet of leases…
Author The Durst Organization
Energy Capital Partners Expands to 26K SF at 1 World Trade Center
An energy investment firm is powering up to 26,292 square feet at 1 World Trade Center Energy Capital Partners (ECP) signed an 11-year lease for 15,400 square feet to more than double its space in the building, according to landlords the Durst Organization and the Port Authority of New York and New Jersey. ECP has expanded rapidly in the span of just six years after it moved into the building, according to the owners. It started with 6,173 square feet in June 2017 then tacked on another 4,179 square feet in January, bringing its total to 10,352 square feet until…
Date 2023-11-08
Author Mark Hallum
Owners Magazine: Douglas Durst; Chairman at Durst Organization
**Where is Durst going to be in 2026?** New York City. **Where is Durst going to be in 2028?** Still in New York City. **Where is Durst going to be in 2033?** Still, still in New York City. **Tell us about a successful financing you’ve done in the last 12 months. Or tell us about an unsuccessful one.** Our $100 million loan to transform 825 Third Avenue enabled us to empty the building after a triple-net lease ended, sustainably modernize the tower, and add a spectacular amenity space. We went from 0 percent to 35 percent pre-leased within a few…
Author Commercial Observer