The Real Deal New York

With a total of seven tenants, 1 WTC now 56 percent leased

More deals are reportedly being negotiated for the 3 million-square-foot building
June 30, 2014 08:30AM

With three recent leases, the Durst Organization and the Port Authority seem to be breaking out of a three-year slump to fill One World Trade Center.

The first new tenant after the dry spell was KiDS Creative, followed by BMB Group, a London-based wealth management company. Legends Hospitality is setting up its headquarters in the building and will also run One World Trade Center’s 1,766-foot-high observatory.

In total, this brings us to seven tenants who have signed to lease in the 3 million-square-foot building and more potential deals are in the works.

The building is now 56 percent leased.

“There is leasing activity I can’t talk about,” a Durst spokesman told the New York Post.

Over the last few years, Durst dropped the rents for space below the 64th floor. While rent started at $75 per square foot, it’s now $69. Higher floors still have higher rents. Above the 64th floor, rents are between $80 and $100 a square foot.

The building is scheduled to open at the end of the year. [NYP] — Claire Moses