Ennead Architects Nabs 47K SF of Condé Space at 1 WTC
By Rebecca Baird-Remba April 4, 2019 1:36 pm
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Condé Nast is slowly filling up its sublease space at 1 World Trade Center.
The cash-strapped publishing giant has subleased 47,252 square feet to Ennead Architects, according to a press release from Condé broker JLL. The 175-person firm will occupy the entire 40th floor of the 3.5-million-square-foot office tower owned by Durst Organization and the Port Authority of New York & New Jersey. Asking rent in the 20-year sublease was in the $60s per square foot. The Real Deal broke the news of the transaction.
Ennead expects to relocate from its current office at 320 West 13th Street, otherwise known as 2 Gansevoort Street, in the Meatpacking District this summer.
The firm, founded in 1963 by James Stewart Polshek, is known for its work on institutional buildings like the Memorial Sloan Kettering Cancer Center, the Newtown Creek Wastewater Treatment Plant’s digester eggs, and the main academic building for Medgar Evers College, along with a handful of commercial projects that include the Standard High Line hotel.
JLL’s Peter Riguardi, Joseph Messina, Stephen Rotter, Jessica Berkey, Andrew Coe and Brett Harvey represented Condé in the deal. John Johnson and Nicholas Farmakis of Savills Studley handled the transaction on behalf of Ennead and declined to comment via a spokeswoman.
“We have seen a great deal of interest in Condé Nast’s offices at 1 World Trade Center,” Rotter said in a statement. “The company is offering one of the best blocks of creative space available in Lower Manhattan in an iconic building.”
This is the second sublease deal for the seven-story, 350,000-square-foot block of offices Condé put on the market last year. The first was with Ambac Financial Group, which inked a 50,000-square-foot sublease for the 41st floor last month.
