Crypto Firm Comes for 1 WTC Space

The Durst Organization found another tenant for One World Trade Center in the Financial District, but not on a direct lease.

Circle Internet Financial, a crypto finance company, is subleasing 34,000 square feet at the 3.1 million-square-foot, 104-story tower, the Commercial Observer reported. Circle is taking the space from software company Celonis, which is handing off the entire 87th floor of the building.

Circle is set to move its global headquarters into the property early next year. The company is relocating from 99 High Street in Boston.

Length and financial details of the sublease were not disclosed. Celonis moved to the 87th floor in February 2020, when the asking rent was $85 per square foot.

Celonis still occupies plenty of space at One World Trade, with nearly 41,000 square feet on the 70th floor it leased in 2022.

For Durst and its co-owner, the Port Authority of New York and New Jersey, recent developments at One World Trade have often involved subleases, rather than direct leases, particularly for major tenant Conde Nast.

In May, financial advisory firm Kroll took 48,000 square feet in a sublease from the publishing company. The 10-year deal covered the 31st floor of the building, where the asking rent was $59 per square foot.

Around the same time, insurance and annuity firm Venerable signed a direct lease for 11,000 square feet, moving to the building’s 49th floor.

Condé Nast has subleased about a quarter of its 1.2 million square feet at 1 WTC. Since 2019, subtenants have taken more than 230,000 square feet and another six floors are available, leaving the total space Conde Nast occupies in the building unclear.

— Holden Walter-Warner