In a transaction that highlights the continued attraction of Times Square for tech industry firms, the software company 10gen is already exercising its option to expand at the historic former New York Times headquarters building at 229 West 43rd Street.
87 percent of the leasing transactions in the Times Square submarket over the past 18 months have been tech deals. Now Yahoo! is about to join the fray.
The number 11 office address has been kind to recent commercial leasing activity in Midtown, with major renewal and retail deals finalized at 11 Penn Plaza and 11 Times Square, respectively.
The 40-story, 1.1 million-square-foot 11 Times Square – certified LEED for Core and Shell Gold – has leased 70 percent of its office space and all of its retail space after four recent deals totaling 75,000 square feet.