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New York

Five years on, GSA signs 1 WTC lease

About five years after the General Services Administration first began talks for a space at 1 World Trade Center, the agency yesterday signed a lease for 270,000 square feet at the landmark tower the New York Post reported. The deal pushes the 3 million square-foot tower past 50 percent leased.

Last August, the CSA signed a term sheet at a rent in the low $40s per square-foot. But by this spring no further progress had been made, and Senator Charles Schumer began pressing the GSA to get the deal done by Independence Day. That effort was reportedly stalled by a Florida congressman who was fighting with the administration over a Federal Trade Commission lease in Washington, D.C.

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“The fat lady sang,” an Schumer told the Post. “They finally did it.”

Conde Nast and Chinese real estate firm Vantone are the other tenants who have signed for space in the building. [Post]

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Charles SchumerGeneral Services Administration