The Durst Organization announced today that Siris Capital, a private equity firm focused on investing and driving value creation in technology companies, signed a lease for a state-of-the-art DurstReady suite at 825 Third Avenue.
“The DurstReady suites at 825 Third Avenue offer the perfect blend of convenience and amenities, designed to meet the evolving needs of forward-thinking businesses. We are proud to welcome Siris to the building,” said Jody Durst, President of The Durst Organization.
Siris moved into a 6,079-square-foot DurstReady suite on the 28th floor. Conveniently situated blocks from Grand Central in the Plaza District, 825 Third Avenue benefits from readily accessible transit options, ample neighborhood amenities, and a thriving business environment. Durst is building out additional pre-built and DurstReady suites due to popular demand at 825 Third Avenue. Siris moved from 601 Lexington Avenue.
DurstReady merges the convenience of turnkey private office spaces with the esteemed service, reputation, and dependability of a century-old, family-operated real estate enterprise. The move-in ready private offices with flexible lease terms are meticulously designed, fully wired for immediate use, and located in LEED Gold certified buildings.
The 530,000-square-foot 825 Third is in the final stages of a $150 million capital improvement program focused on performance, tenant comfort, modern aesthetics, and sustainability. This includes:
- Exclusive Tenant Amenity Space: Well& by Durst at 825 Third, now open, sets a new standard, with a uniquely curated indoor-outdoor experience. The tenant amenity space seamlessly blends indoors and out for informal gatherings, work meetings, and socializing.
- New Public Open Space: Durst is beautifying 4,000 square feet of public open space along Third Avenue and East 50th Street with new plantings, public seating, bike racks, and lighting.
- Updated Lobby: Elegantly modern entrance and lobby featuring white onyx and concrete combined with white oak and perforated metal.
- Dynamic View Glass Windows: 825 Third is among the first office buildings in Manhattan to offer windows that use artificial intelligence to automatically adjust and tint throughout the day to reduce glare, mitigate direct sun, and control heat gain. The result is light-filled interiors where blinds are never needed.
- Green Building Materials and Methods: The LEED Gold certified 825 Third Avenue is engineered for sustainability through the use of green building materials, modern construction methods, and highly efficient operational standards.
- Replacement and Modernization of Systems: The new HVAC, electrical, plumbing, life safety, and building management systems enhance the building’s appearance and operating efficiency.
Siris joins a variety of tenants at 825 Third Avenue including Dimension Renewable Energy, Genius Sports, Beveridge & Diamond, Gotham Asset Management, Liminal Strategy Partners, and Toyota Tsusho America Inc. that have relocated to the building from Madison Avenue, Park Avenue, and Fifth Avenue to take advantage of 825 Third Avenue’s modern repositioning, location, and elevated amenities.
In addition, Rosemary’s, the beloved Italian restaurant known for its airy, urban farmhouse ambiance and neighborly hospitality, is now open on the ground floor of the building offering lunch, happy hour, and dinner.
The Durst Organization was represented in house by Tom Bow, Ashlea Aaron, and Bailey Caliban. Siris was represented by David Emden and Robert Emden of Newmark.
About the Durst Organization
The Durst Organization, founded in 1915 by Joseph and Rose Durst, is the owner, manager, and builder of 13 million square feet of premier Manhattan office towers and over three million square feet of residential rental properties, with 3,400 rental apartments built and several thousand units in the pipeline. The Durst Organization is recognized as a world leader in the development of high-performance and environmentally advanced commercial and residential buildings where people live, work, and thrive. www.durst.org.
About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris’ Executive Partners and Advisors are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and manages approximately $7 billion in assets under management as of September 30, 2023 across three institutional funds. www.siris.com.
