The Real Deal New York

Silverstein’s startup space Silver Suites expanding to 4 WTC

At least one floor of the new tower will be set aside for tech companies
By Tess Hofmann | April 15, 2015 05:00PM

UPDATED, April 15, 5:50 p.m.: Silverstein Properties’ temporary office concept for small and growing companies, known as Silver Suites, is slated to occupy space at 4 World Trade Center, according to president Tal Kerret.

The developer began mulling the expansion last year after experiencing high demand from media and tech companies looking for offices Downtown.

The flexible space, which is set aside for companies that are too small for traditional leases but expect to experience growth, currently occupies one floor in 7 World Trade Center, and will now take an additional 45,000 square feet — an entire floor of 4 World Trade Center. A second floor in the new building is also in the cards if demand continues to grow.

“I have a constant flow of companies coming to me and every day I have to tell them I don’t have any space,” said Kerret, noting that Silver Suites at 7 World Trade Center is 100 percent leased. Companies occupying the space range from one person startups to divisions of Fortune 500 Companies. Real estate crowdfunding company Fundrise is one of the tenants. Aorato, another tenant on the floor, was recently purchased by Microsoft for $200 million.

Two companies have committed to take space in the Silver Suites facility at 4 World Trade Center, which is under construction and is expected to be ready for occupancy by September. The 72-story tower opened in October.