Bank of New York claims Condé Nast space at One – Business News
Bank of New York formally claimed 192,000 sq. toes of former Condé Nast space at One World Trade Center, we’ve realized.
Negotiations for the sublease had been reported within the Commercial Observer.
BNY wants the 4 flooring whereas it renovates its headquarters at 240 Greenwich Ave., the CO reported.
Bank of New York wants the 4 flooring at One World Trade Center whereas it renovates its headquarters at 240 Greenwich Ave. Bloomberg by way of Getty Images
The deal displays Lower Manhattan’s resilience 24 years since 9/11, as spelled out in a report by the Downtown Alliance.
The business enchancment district’s second-quarter abstract discovered 87% more leasing exercise over the identical period in 2024 — “the most robust since the start of COVID,” the report stated.
Availability dipped for the sixth consecutive quarter to 22.8%. The determine displays the removing of 89,000 sq. toes from the market for residential conversion.
BNY’s deal for space at One World Trade Center displays Lower Manhattan’s resilience since 9/11. REUTERS
Data from CBRE corroborates the trend. The brokerage tallied 2.7 million sq. toes of downtown leasing, together with new and renewal leases, to this point this 12 months, reflecting over 870,000 sq. toes of optimistic absorption.
The Alliance additionally studies the residential population under Chamber Street, together with in Battery Park City, more than doubled from slightly below 33,000 pre-9/11 to 70,000.
