The Real Deal New York

Progenics Pharmaceuticals takes 26.5K sf at 1WTC

Asking rent was $78 per square foot

January 07, 2016 09:00AM

Mark Baker Douglas Durst One World Trade

One World Trade Center (inset from left: Mark Baker of Progenics and Douglas Durst)

A biotech firm specializing in cancer and HIV medications is the latest new tenant at One World Trade Center.

Progenics Pharmaceuticals took 26,500 square feet of space on the 47th floor, signing a 14-year lease with a five-year renewal option.

The building’s owners – the Durst Organization and the Port Authority of New York and New Jersey – asked $78 per square foot in rent, according the lease documents, which Progenics published in a regulatory filing.

Eric Engelhardt of Durst and Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield represented the landlords. Patricia Ardigo and Joel Wechsler of CBRE represented Progenics.

The New York Post first reported the news.

The landlords announced two weeks ago that 2 million of the tower’s 3 million square feet of space had already been leased.

Developer SHVO took 12,000 square feet at the building last month, with plans to open a showroom for its 360,000-square-foot 125 Greenwich Street condo tower. – Ariel Stulberg

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