7 World Trade Snags Two New Leases

Larry Silverstein has filled two-thirds of 7 World Trade Center. Silverstein Properties announced on Tuesday that DRW Trading has leased 8,568 square feet on the 34th floor. The company should be moved in by August.

Also, Silverstein Properties announces Moody’s will take an extra 80,000 square feet in addition to the 590,000 they already signed on for. Steve Cuozzo of The Post reported that one a few weeks ago.

That means 1.1 million square feet is taken and roughly another 500,000 to go for the city’s most valuable downtown office building.

Full-release after the jump.

– John Koblin






NEW YORK, April 10, 2007 -World Trade Center developer Larry A. Silverstein today announced that Moody’s Corporation has agreed to occupy two additional floors of the 52-story, 7 World Trade Center at 250 Greenwich Street in Downtown Manhattan. In addition, Mr. Silverstein said that DRW Commodities will occupy 8,568 square feet on the 34th floor of Downtown’s greenest, most modern skyscraper.

The two additional floors, comprising 80,000 square feet, increase Moody’s total commitment at 7 World Trade Center to 670,000 square feet. Last September, Moody’s signed a 20-year lease for 590,000 square feet at the new office tower — the largest lease signed in Manhattan in 2006.

DRW Commodities, which currently has offices at One North End Avenue in New York, as well as an office in Chicago, will occupy the 34th floor in one of the pre-built suites. DRW, a member of the New York Mercantile Exchange, is taking space on a pre-built floor that is being leased to small but growing New York City-based companies.

“The addition of two floors for Moody’s and the first tenant on the pre-built 34th floor continues a string of recent successes at 7 World Trade Center and for the overall Downtown commercial market,” said Mr. Silverstein. “Although the building only opened last May, we have secured commitments for nearly 1.1 million square feet, which represents two-thirds of the building’s available space.”

Tenants of 7 World Trade Center include:

· ABN AMRO: 30th -33rd floors (140,000 sq. ft.); Move-in projected by early 2008

· Ameriprise Financial: 39th floor (40,000 sq. ft.); Moved in June 2006

· Darby & Darby P.C.: 41st- 42nd floors (80,000 sq. ft.); Move-in projected by May 2007

· DRW Commodities: 34th floor (8,568 sq. ft.); Move-in projected by August 2007

· Mansueto Ventures: 29th floor (40,000 sq. ft.); Moved in April 2007

· Moody’s Corporation: 11th – 28th floors (670,000 sq. ft.); Move-in projected for June – October 2007

· New York Academy of Sciences: 40th floor (40,000 sq. ft.); Moved in September 2006

· Silverstein Properties: 38th floor (40,000 sq. ft.); Moved in May 2006

· World Trade Center Design Task Force / Pre-built office space: 11th floor (40,000 sq. ft.); Moved in December 2006

Currently headquartered at 99 Church Street in Manhattan, Moody’s is an essential component of the global capital markets. It provides credit ratings, research, tools and analysis to help protect the integrity of credit. Moody’s Corporation (NYSE: MCO) is the parent company of Moody’s Investors Service, which provides credit ratings and research covering debt instruments and securities; Moody’s KMV, a provider of quantitative credit analysis tools; Moody’s Economy.com, which provides economic research and data services, and Moody’s Wall Street Analytics, a provider of software tools and analysis for the structured finance industry. The corporation, which reported revenue of $2.0 billion in 2006, employs approximately 3,400 people worldwide and maintains a presence in 27 countries.

Roger A. Silverstein of Silverstein Properties, Stephen B. Siegel, chairman of global brokerage at CB Richard Ellis and Simon Wasserberger of CB Richard Ellis handled the negotiation of the lease agreement for Silverstein. Cushman & Wakefield Vice Chairman John Cefaly and Executive Vice President Gus Field represented Moody’s in lease negotiations.

7 World Trade Center, which contains 42 office floors above a ten-story base, is New York City’s first high-rise office building to be certified as “green” pursuant to the U.S. Green Building Council’s Leadership in Energy & Environmental Design (LEED) rating system. The building’s environmental design features include state-of-the-art ultra-clear exterior glass technology, high-efficiency air filtration, energy and water conservation technologies and 15,000 square feet of open park space to provide a pleasing urban environment for tenants, neighbors and building visitors.


About Silverstein Properties

Silverstein Properties is a Manhattan-based real estate development and investment firm that has developed, owned and managed more than twenty million square feet of office, residential and retail space. In July 2001, Silverstein completed the largest real estate transaction in New York history by acquiring the 10 million sq. ft. World Trade Center, only to see it destroyed by terrorist attacks six weeks later on September 11, 2001.

Silverstein has committed to the redevelopment of the World Trade Center site. On May 23, 2006, Silverstein Properties opened 7 World Trade Center, a 52-story, 1.7 million square foot office tower, at 250 Greenwich Street, just north of the World Trade Center site. In April, 2006, Silverstein Properties started work on the Freedom Tower. In September, 2006, designs were unveiled for three new office towers on the WTC site – 200, 175 and 150 Greenwich Street – that will be developed by Silverstein Properties. Construction on the three towers will begin in January 2008. For more information, visit www.wtc.com. 7 World Trade Snags Two New Leases