The Real Deal New York

Artificial intelligence developer takes 27K sf at 7 WTC

IPsoft sub-subleasing space on office tower's 32nd floor from currency trader

June 09, 2016 03:56PM

7 World Trade Center

7 World Trade Center in the Financial District (credit: SOM)

Artificial intelligence developer IPsoft took a 27,200-square-foot sub-sublease for office space at Silverstein Properties’ 7 World Trade Center in the Financial District.

IPsoft has already moved into the space, which comprises of roughly two-thirds of the 32nd floor at 7 WTC. The company is subleasing the office from currency trading firm FXDD, which itself subleased nearly 41,000 square feet — the building’s entire 32nd floor – from Dutch bank ABN AMBRO in 2009.

FXDD’s sublease on the 1.7 million-square-foot office tower’s 32nd floor runs through November 2022, according to the Commercial Observer. The currency trading firm also sub-subleased 13,000 square feet on the floor to contractor Permasteelisa Group last year.

IPsoft’s new space isn’t far from the firm’s main headquarters at 17 State Street, also in the Financial District. IPsoft currently has around 98,000 square feet at the RFR Realty-owned property.

Asking rent on IPsoft’s sublease was not disclosed. Cushman & Wakefield’s Rob Lowe represented IPsoft, while Scott Weiss of Savills Studley represented FXDD. [CO]Rey Mashayekhi

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