NEW YORK—As construction climbs skyward at One World Trade Center, office space is being rapidly snapped up. Conde’ Nast, publisher of Vogue, Architectural Digest, Vanity Fair, Wired Magazine, and The New Yorker, signed a lease for a million square feet of office space on floors 20 through 41, spanning about one-third of the building.
Conde’ Nast Chairman S.I. Newhouse Jr. signed the 25-year lease with Port Authority of New York and New Jersey (PANYNJ), which owns the site, at a press conference on the tower’s 34th floor on Wednesday. The lease, estimated to be a $2 billion deal, is said to be the biggest real estate deal in Lower Manhattan in 25 years.
PANYNJ Chairman David Samson attended the signing, along with PANYNJ Executive Director Chris Ward, Mayor Michael Bloomberg, Manhattan Borough President Scott Stringer, and Councilwoman Margaret Chin.
Newhouse said of the new headquarters for his publishing company: “Conde’ Nast has a long history in New York and has thrived in part due to the city’s indefatigable energy, power, and vitality. We are proud to be taking part in the revitalization of Lower Manhattan.”
The new offices will house the company’s global headquarters and more than 3,000 Conde’ Nast employees; the company currently has its headquarters at 4 Times Square, where it moved to from Madison Avenue in 1999.
Bloomberg said: “It wasn’t long ago that few would have believed it possible that a publishing industry giant like Conde’ Nast would be relocated to the World Trade Center site, but today—with the site rising and Lower Manhattan thriving—it’s a reality.” The mayor and the city’s tourism bureau, NYC & Co., released a new campaign last week to promote Lower Manhattan to visitors from around the world.
The tower is scheduled to be completed in late 2013 and is expected to be the tallest building in the western hemisphere at 1,776 feet. It was originally known as the Freedom Tower, but the name was changed to One World Trade Center in March 2009, when Chinese real estate developer Beijing Vantone Real Estate Co. became the building’s first tenant after a three-year negotiation. Beijing Vantone signed a 20-year lease for 190,810 square feet on floors 64–69 at the top of the building.
The tower is currently completed up to the 66th floor and is rising at the rate of one floor per week.
Conde’ Nast Chairman S.I. Newhouse Jr. signed the 25-year lease with Port Authority of New York and New Jersey (PANYNJ), which owns the site, at a press conference on the tower’s 34th floor on Wednesday. The lease, estimated to be a $2 billion deal, is said to be the biggest real estate deal in Lower Manhattan in 25 years.
PANYNJ Chairman David Samson attended the signing, along with PANYNJ Executive Director Chris Ward, Mayor Michael Bloomberg, Manhattan Borough President Scott Stringer, and Councilwoman Margaret Chin.
Newhouse said of the new headquarters for his publishing company: “Conde’ Nast has a long history in New York and has thrived in part due to the city’s indefatigable energy, power, and vitality. We are proud to be taking part in the revitalization of Lower Manhattan.”
The new offices will house the company’s global headquarters and more than 3,000 Conde’ Nast employees; the company currently has its headquarters at 4 Times Square, where it moved to from Madison Avenue in 1999.
Bloomberg said: “It wasn’t long ago that few would have believed it possible that a publishing industry giant like Conde’ Nast would be relocated to the World Trade Center site, but today—with the site rising and Lower Manhattan thriving—it’s a reality.” The mayor and the city’s tourism bureau, NYC & Co., released a new campaign last week to promote Lower Manhattan to visitors from around the world.
The tower is scheduled to be completed in late 2013 and is expected to be the tallest building in the western hemisphere at 1,776 feet. It was originally known as the Freedom Tower, but the name was changed to One World Trade Center in March 2009, when Chinese real estate developer Beijing Vantone Real Estate Co. became the building’s first tenant after a three-year negotiation. Beijing Vantone signed a 20-year lease for 190,810 square feet on floors 64–69 at the top of the building.
The tower is currently completed up to the 66th floor and is rising at the rate of one floor per week.
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