Rudin Inks 66 KSF at Times Square Tower

March 10, 2023

Rendering of 3 Times Square exterior. Image courtesy of FXCollaborative

Rendering of 3 Times Square exterior. Image courtesy of FXCollaborative

Touro University has added 66,438 square feet to its 30-year lease at Rudin’s 3 Times Square, a 950,000-square-foot office high-rise in Midtown Manhattan. The non-profit institution of higher and professional education will occupy the tower’s 10th and 11th floors, bringing its total commitment to 309,743 square feet.

Touro’s initial footprint at 3 Times Square encompassed seven full floors and portions of the ground and second floors, as well as a dedicated entrance and lobby on the southwest corner of 43rd Street and Seventh Avenue.

The campus welcomed its first students in January; three additional floors will be opened this spring and the final floor is slated for delivery in the spring of 2024. Upon completion, the campus will house eight of Touro’s schools, which include the College of Farmacy, Graduate School of Business, Graduate School of Jewish Studies and School of Health Sciences, among others.

The Cushman & Wakefield team led by Vice Chairman Ron Lo Russo and Director Heather Thomas, alongside Tom Keating of Rudin Management Co., represented the landlord in the transaction. Cushman & Wakefield’s Executive Vice Chairman Richard Burnstein and Touro’s Senior Vice President of Operations Jeffrey Rosengarten negotiated on behalf of the tenant.

An iconic Midtown Manhattan tower

Also known as the Thomson Reuters Building, 3 Times Square came online in 2001 as the North American headquarters of Reuters Group PLC at a cost of $360 million. In 2021, the office tower became the subject of a $25 million repositioning project, led by FXCollaborative. Furthermore, Rudin and its joint venture partner Thomson Reuters received $415 million in refinancing for the property in June.

The 30-story high-rise features floorplates between 28,000 and 35,000 square feet, 17 passenger elevators and 8,200 square feet of retail space. Amenities include a touchless entry system as well as a dining area, coffee bar, conference and event center; a fitness center with locker rooms will be one of its future features. The property has WiredScore Platinum and SmartScore Gold certifications, as well as a WELL Health-Safety rating.

The tenant roster includes FTI Consulting, Chase Bank and Remy Cointreau. The French distiller signed a 10-year lease for approximately 30,000 square feet back in January, according to Bloomberg.

3 Times Square is located in Midtown Manhattan in a transit-oriented area, offering immediate access to subway lines. The building is within walking distance of Penn Station and Grand Central Terminal.

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