UPDATE: Conde Nast Getting Nast-y with 1 World Trade Center, Commits to More Space

Tue, 17 Jan 2012 16:19:23 -0400

Conde Nast has reportedly agreed to take on an additional 133,000 square feet of office space at 1 World Trade Center, adding to the 1.05 million it has already committed to at the yet-to-be-completed skyscraper, the New York Post reported.

1 World Trade Center (Courtesy Getty Images)

The deal, if finalized, will be for the 42nd, 43rd, and 44th floors in the 104-story tower, a person familiar to the transaction confirmed to The Commercial Observer.

A source tells the Post's Steve Cuozzo:

"Conde Nast had an option to expand and they told the Port Authority and the Durst Organization they were going ahead with it."

People at The Port Authority, CBRE and The Durst Organization all declined comment.

A spokeswoman for Conde Nast could not immediately comment on the deal.

Last year, Conde Nast, the publishers of Vanity Fair and The New Yorker, signed a whopping $2 billion, 25-year lease at the 1,776-foot office tower.

UPDATE (5:07 p.m.):

A person familiar with the lease negotiations confirmed Conde Nast's latest proposed deal, adding that the publisher exercised an option to expand into those additional floors. The asking price for those floors is $75-per-square foot, the source said.

Once the deal is finalized, Conde Nast will have floors 20-44 in the building.

A Conde Nast spokeswoman sent in this statement to The Commercial Observer:

“We are exercising our option to take the maximum number of floors as stated in the original agreement, we are not taking additional space on top of that.”

drosen@observer.com

Observer » UPDATE: Conde Nast Getting Nast-y with 1 World Trade Center, Commits to More Space

UPDATE: Conde Nast Getting Nast-y with 1 World Trade Center, Commits to More Space