Howden Signs 10-Year Lease For 31,519 Square Feet At Durst Organization's One Five One Tower
151 West 42nd Street
Building Size
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Asset Type
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Closing
May 7, 2026
AI
The property asset involved in this transaction is located at 151 West 42nd Street in the Times Square market. It encompasses an office space with a total square footage of 31,519, situated within Durst Organization’s One Five One tower. The lease agreement covers a duration of 10 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 151 West 42nd Street
- Market: Times Square
- Asset Size: 31,519 square feet
- Landlord: Jody Durst - Durst Organization
- Tenant: Howden
- Landlord's Representative: Tom Bow, Rocco Romeo & Nora Caliban - Durst Organization
- Tenant's Representative: Sheena Gohil, Bob Rosenthal & Jack Senske - Colliers
- Lease Terms: 10-year lease
Global insurance broker Howden has signed the lease for the entirety of the 53rd floor in the building. The deal involves representation from key individuals within both the landlord's and tenant's organizations, facilitating the transaction through their respective brokers.
Players
West End CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93