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Varagon Lease Brings Durst’s Times Square Tower to 90%-Plus Occupancy
Asset manager Varagon Capital Partners has signed a five-year lease for 31,519 square feet on the 53rd floor at the Durst Organization’s One Five One W. 42nd St. The tenant, which focuses on direct lending to middle market companies, is relocating its offices from 299 Park Ave.
Following a $150-million capital improvement program, “One Five One has been transformed into a hub for the financial, legal and technology industries,” said Jonathan Durst, president of The Durst Organization Despite lease terminations that would have left the entire building vacant in 2019, One Five One is now over 90% leased with only two full floors and a handful of suites available at the property.”
Varagon was represented by Newmark’s executive managing director Brad Needleman and senior leasing manager Leo Paytas. The Durst Organization was represented in-house by EVP Tom Bow, SVP Rocco Romeo and associate director Tanya Grimaldo.
- ◦Lease
