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Just months after breaking ground on the Conde Nast Building, developer Douglas Durst is moving in on his second office tower in Times Square.
Mr. Durst, who has been maneuvering to buy three more sites from Prudential Insurance Co. of America ever since he got control of the 4 Times Square site last spring, likely will wind up with at least the northwest corner of 42nd Street and Seventh Avenue. His architects, Fox & Fowle, are working on preliminary designs for a new office building that could be some 800,000 square feet in size.
For the past year, Mr. Durst and his executives at the Durst Organization have been talking with large tenants like Reuters, Ziff-Davis Publishing and Morgan Stanley, any one of whom could anchor a second building in the area.
Although Mr. Durst would not comment on his plans, he did indicate at a recent industry luncheon that an announcement about his work in Times Square is imminent.
"I would be surprised if it didn't happen within the next six to 12 months, and it could be faster," says Jonathan Mechanic, head of the real estate department at Fried Frank Harris Shriver & Jacobson.
Even six months ago, that kind of timetable would have been unthinkable. But today, in the wake of Skadden Arps Slate Meagher &...