Spectrum Reach Takes Signs Lease at 3 Times Square

Michael Rudin is making deals at his Times Square office property.

Advertising firm Spectrum Reach, a division of Charter Communications, signed a lease for 56,000 square feet at Rudin’s 3 Times Square, the Commercial Observer reported. The firm will occupy the 26th and 27th floors of the 30-story tower.

The 11-year deal will see Spectrum relocate from Paramount Group’s 1633 Broadway in the fall. The asking rent was not disclosed, but the fourth quarter average for Times Square was $74.04 per square foot, according to Newmark.

A CBRE team including Robert Stillman and Cara Chayet represented the tenant in negotiations, while Thomas Keating represented Rudin in-house, alongside a group of brokers from Cushman & Wakefield.

In a statement, Michael Rudin said the 925,000-square-foot property’s tenant list is being drawn in by upgrades, the amenity program and the location. Renovations included a redesigned lobby, modernized elevator and entry systems and the addition of a fitness center, dining area and conference space.

A landlord is always going to tout their property after a big win, but there’s growing evidence of the success Rudin is having at 3 Times Square.

In 2022, Touro University signed a lease to consolidate several of its schools into 250,000 square feet at 3 Times Square. A year later, the university took an additional 66,000 square feet, bringing its footprint at the property to 310,000 square feet.

Near the end of 2022, accounting advisory firm Anchin, Block & Anchin signed a 10-year, 45,000-square-foot lease for the tower’s 25th floor and part of the 24th.

That same year, Rudin and co-owner Thomson Reuters — itself a tenant — secured a $415 million refinancing package spearheaded by JPMorgan.

Office leasing in Manhattan surpassed 30 million square feet for the first time since 2019, according to Colliers, exceeding that threshold with a month to spare.

— Holden Walter-Warner