Software Company, Investment Firm and Ad Platform Take 73K SF at 1 WTC
By Celia Young February 25, 2022 12:16 pm
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Business software firm Templafy, investment management company Jordan Park and advertising platform LiveIntent snagged a total of 72,896 square feet at The Durst Organization and the Port Authority of New York and New Jersey’s 1 World Trade Center, Commercial Observer has learned.
The deals bring the building, which faced an uncertain future after major tenant Condé Nast put much of its offices on the sublease market in 2021, to 92 percent leased. The building’s two landlords resolved a rent dispute with the publishing giant last year, after it paid $2.4 million in rent it previously withheld.
Templafy, which was subleasing space at the 104-story skyscraper from the marketing platform GroundTruth, inked a three-year deal for 44,133 square feet on the 59th floor. Asking rent was $72 per square foot, according to Durst’s Karen Rose, who represented the landlord in-house alongside Eric Engelhardt and Newmark’s David Falk, Jason Greenstein, Peter Shimkin, Hal Stein and Andrew Duffy.
“The fact that we had plug-and-play space — which seems to be a general theme for New York City right now — was very appealing to them,” Rose told CO.
Templafy moved into the fully furnished, pre-built space — previously occupied by High 5 Games — after closing the deal at the end of last year, Rose said. It previously subleased part of the 60th floor for two years from GroundTruth, which still occupies two floors at 1 WTC.
Jordan Park is moving up at the building — from the 71st floor to the 86th floor. That move triples the firm’s space to 16,065 square feet in a new lease for seven years at the office tower. Asking rent was $80 per square foot, Rose said.
“They were growing and they needed to expand their footprint,” Rose said. “One World Trade Center for Jordan Park is an impactful address. I think it certainly speaks to the fact that they are a company that you would want to hire for your investment advisory needs.”
Durst is building out Jordan Park’s new office space, which had never previously been occupied, Rose said. The investment firm closed on the raw space in January, and will be expanding from 5,300 square feet.
Durst declined to comment on who represented Jordan Park and Jordan Park did not immediately respond to a request for comment from CO.
Lastly, LiveIntent is a brand new tenant at the 3 million-plus square foot property. The company snatched up 12,698 square feet on the 45th floor of 1 WTC. Asking rent was $69 per square foot in the three-and-a-half-year deal, Rose said.
“This was another plug-and-play opportunity,” Rose said. “They certainly liked the convenience of being able to just bring your personal effects and move in. The space has also got direct access to the elevators and sweeping northern views.”
LiveIntent’s deal closed this month, and the tenant plans to move into the space in the next week or two, Rose said. The firm’s new offices were fully furnished, pre-built space that allowed the advertising company to move in quickly, as its lease at 222 Broadway was expiring.
The business will occupy space previously used by Hyperscience, an automation software developer that moved to 34,382 square feet on the 88th floor of the building in a 10-year deal in June 2021, CO reported at the time.
CBRE’s Sinclair Li, Daniel Wilpon and Patrick Moroney handled the deal for Templafy and LiveIntent. The CBRE brokers declined to comment.
Durst and the Port Authority also closed on seven other leases covering around 30,000 square feet including CapitalRx taking 9,425 square feet, Guarantr nabbing 6,475 square feet, Epoch Capital US signing on for 4,963 square feet and Ponto Software inking a deal for 2,747 square feet.
Durst also signed three renewals, a five-year lease for 5,262 square feet on the 47th floor for Energy Aspects Corp., a one-year renewal for MS Shift in 3,210 square feet on part of the 47th floor and a three-year deal for Iris Software in 2,578 square feet on the 46th floor.
“Leasing activity at 1 WTC soared towards the close of 2021 and that momentum has carried over to 2022,” said Jonathan Durst, president of The Durst Organization. “We are thrilled to welcome new tenants to 1 World Trade Center, and to New York City, and celebrate the success of existing tenants through renewals, expansions and relocations within the property.”
Celia Young can be reached at cyoung@commercialobserver.com.
