http://commercialobserver.com Fri, 17 May 2013 21:48:04 +0000 hourly 1 http://wordpress.com/ http://s2.wp.com/i/buttonw-com.png http://commercialobserver.com http://commercialobserver.com/2011/12/the-boldest-commercial-leases-of-2011/condenast124533312/#comments Thu, 15 Dec 2011 14:31:44 -0400 http://commercialobserver.com/2011/12/the-boldest-commercial-leases-of-2011/condenast124533312/ http://nyocommercialobserver.files.wordpress.com/2011/12/condenast124533312-e1323978154955.jpg Not only was Conde Nast’s deal to take one million square feet at One World Trade Center the largest lease of the year, but ask most brokers and landlords and it's also likely to rank as the most important. No other deal this year had as sweeping an impact on the city’s commercial landscape than Conde’s decision to pull up stakes in midtown and head to lower Manhattan. And just as it helped remake Times Square by anchoring 4 Times Square in the mid 1990s, Conde’s commitment to downtown immediately accomplished what government officials and neighborhood sponsors had spent years toiling to do: reposition downtown not only as a lower cost alternative to midtown, but as a neighborhood of choice for the city’s creative elite. The deal also, in one fell swoop, validated the construction of One World Trade Center, once bemoaned as Port Authority’s albatross.

]]> Not only was Conde Nast’s deal to take one million square feet at One World Trade Center the largest lease of the year, but ask most brokers and landlords and it's also likely to rank as the most important. No other deal this year had as sweeping an impact on the city’s commercial landscape than Conde’s decision to pull up stakes in midtown and head to lower Manhattan. And just as it helped remake Times Square by anchoring 4 Times Square in the mid 1990s, Conde’s commitment to downtown immediately accomplished what government officials and neighborhood sponsors had spent years toiling to do: reposition downtown not only as a lower cost alternative to midtown, but as a neighborhood of choice for the city’s creative elite. The deal also, in one fell swoop, validated the construction of One World Trade Center, once bemoaned as Port Authority’s albatross.

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