Two more insurers take combined 70K sf at 4 WTC

The 2.6M sf office tower is now 80% occupied

TRD New York /
Aug.August 22, 2016 03:10 PM

A pair of insurance firms inked deals for nearly 70,000 square feet at Silverstein Properties’ 4 World Trade Center, bringing the 2.3 million-square-foot office tower to 80 percent occupancy.

Global Atlantic Financial Group, currently headquartered nearby at Silverstein’s TRData LogoTINY 7 World Trade Center, will relocate to building No. 4, where it’s signed a 15-year lease for 44,000 square feet on the 15th floor, the Commercial Observer reported.

In another deal, Bermuda-based insurance firm Validus signed a 16-year lease for 24,489 square feet, or a big more than half of the 47th floor of the 72-story tower. Validus is currently headquartered at 48 Wall Street, where it occupies roughly 10,300 square feet.

Asking rents in both deals were in the $70s per square foot, according to the news website.

The new leases bring the three-year-old building to roughly 80 percent occupancy after Zurich American Insurance Company took 132,000 square feet earlier this month and Hudson River Trading signed a deal for 69,000 square feet in May.

The Port Authority of New York and New Jersey anchors the building, and other tenants include New York Mets broadcaster SNY, as well as the TAMI firms PadillaCRT and MediaMath. [CO]Rich Bockmann


Related Articles

arrow_forward_ios
Larry Silverstein of Silverstein Properties with renderings of the project (Getty, ODA)

Silverstein, Kaufman plan $2B Queens development

Silverstein, Kaufman plan $2B Queens development
Brookfield Property Partners' Brian Kingston, Silverstein Properties' Larry Silverstein and Empire State Realty Trust's Anthony Malkin (Getty)

Real estate firms lead cautious return to NYC offices

Real estate firms lead cautious return to NYC offices
Silverstein Properties CEO Marty Burger and a microscopic view of Covid-19 (Credit: Ilya S. Savenok/Getty Images, CDC)

“We can’t be everybody’s bank”: Marty Burger on how Silverstein is working with tenants and his Covid-19 recovery

“We can’t be everybody’s bank”: Marty Burger on how Silverstein is working with tenants and his Covid-19 recovery
Silverstein Properties CEO Marty Burger (Photo by Ilya S. Savenok/Getty Images)

Silverstein’s Marty Burger recovers from coronavirus

Silverstein’s Marty Burger recovers from coronavirus
Silverstein Properties' Tal Kerret, Dino Fusco, Marty Burger and 7 WTC (Credit: Joe Woolhead)

Former Goldman exec will be new COO at Silverstein Properties

Former Goldman exec will be new COO at Silverstein Properties
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo rakes in real estate cash — but not from LLCs

Cuomo rakes in real estate cash — but not from LLCs
120 Broadway and Thornton Tomasetti’s Peter DiMaggio, Tom Scarangello and Michael Squarzini (Credit: Google Maps)

Thornton Tomasetti takes 100K sf at 120 Broadway

Thornton Tomasetti takes 100K sf at 120 Broadway
Moinian Group CEO Joseph Moinian, and a street view of the new Best Buy location (535 Fifth Avenue, at left) and the old one (529 Fifth Avenue, at right) 

Best Buy signs lease for new store at 535 Fifth

Best Buy signs lease for new store at 535 Fifth
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...