Nasdaq Inc. has decided to relocate its global headquarters. The financial services giant will move, starting spring 2019, from downtown Manhattan to its Nasdaq MarketSite location at 4 Times Square.
The 15-year, 145,000-square-foot lease signed with the Durst Organization multiplies by a factor of six Nasdaq’s footprint at the property. An extension to its existing 24,000-square-foot MarketSite lease, the new space will feature a state-of-the-art event venue on the 10th floor. Coupled with a 2,100-square-foot outdoor terrace above the iconic Nasdaq Tower, right next to Times Square, the venue’s capacity exceeds 400 people and will host corporate and industry events for Nasdaq’s business partners.
“Bringing together our New York employees at our new headquarters allows us to continue to focus on the client experience and further collaborate as a team on new and innovative solutions that meet our clients’ most critical needs. This increased presence in the iconic Times Square, New York, will further drive our brand forward, and will offer an unparalleled experience for our clients for years to come,” said Adena Friedman, Nasdaq president & chief executive officer.
The MarketSite relocation is expected to be complete in three years’ time. The expansion efforts are scheduled to begin this summer and are set to end in December 2021. The move-in will be phased, starting from spring 2019 onwards.
“As one of the building’s original tenants when it opened in 1999, we are pleased Nasdaq has chosen to consolidate their corporate headquarters and bring their leadership team to 4 Times Square. Nasdaq is one of the world’s most innovative and dynamic exchanges and a recognized global leader in financial technology, and we are excited they have decided to continue to partner with us,” stated Jonathan Durst, president of The Durst Organization.
Nasdaq’s new global headquarters will act as a center for companies interested in taking advantage of its top location and facilities. As usual, the 4 Times Square will host the traditional daily Opening and Closing Market Bell ceremonies. It will also house the Market Intelligence Desk, a team of market professionals whose role is to provide clients with real-time analysis and information. At the same time, both the Nasdaq Tower and Nasdaq Marquee will give companies a vast array of advertising opportunities. Finally, due to the enhanced broadcast and media correspondence facilities, companies will be able to organize interviews and press briefings with global media outlets.
4 Times Square, previously known as the Condé Nast Building, is one of the most coveted office buildings in Midtown Manhattan. Owned by the Durst Organization, the Class A building encompasses 1.8 million square feet. Built in 1999, it has recently gone through a $140 million capital improvement program. The renovated 45,600-square-foot amenity floor houses first-class conference, meeting, and event spaces, as well as a café and a coffee bar run by Michelin-starred chef Claus Meyer.