SHVO Taking Pre-Built Space at 1 WTC for Condo Marketing Center
Terence Cullen Dec. 22, 2015, 5 p.m.
A little more than a year after opening, the developers of 1 World Trade Center can breathe a sigh of relief: the 3-million-square-foot skyscraper is more than two-thirds leased.
That was pushed over the edge by two leases on the 84th floor of the 104-story Downtown tower. The bigger of the two is for luxury developer SHVO, which signed a deal for 12,000 square feet of pre-built space, according to a press release from the landlords, the Port Authority of New York & New Jersey and the Durst Organization.
SHVO will use the space as a marketing center for its 125 Greenwich Street between Rector and Thames Streets, which will be turned into a luxury residential condominium building, according to The New York Post, which first reported news of the deals.
The landlords also signed sharing economy startup Juno Lab, which is taking 10,000 square feet of pre-built space.
“Leasing 2 million square feet of Class A space is comparable to the full lease-up of two major Manhattan skyscrapers,” said Eric Engelhardt, the head of leasing at 1 WTC for the Durst Organization, in prepared remarks. “[1 WTC] continues to attract a steady pipeline of tenants representing a wide spectrum of business categories.”
Asking rent is $85 per square foot on the 84th floor, the Post reported. The length of the leases were not immediately available.
Karen Kuznick of the Durst Organization represented the landlord in-house along with Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield. Elliott Warren of the Kaufman Organization represented Juno Lab, while SHVO represented itself in-house.
“Tenants are excited to assume occupancy in a best-in-class property that has redefined the Manhattan skyline,” Ms. Stacom said in a statement. “Businesses also recognize that the building’s excellent light and first-class views help boost productivity and workplace morale.”