9/11 A Decade Later: Conde Nast To Occupy 1 World Trade Center

Daniel L. Squadron

May 26, 2011

NY 1

Updated 05/25/2011 07:54 PM

By: Bobby Cuza       

On Wednesday, officials announced a deal naming Conde Nast the anchor tenant at 1 World Trade Center.

"1 World Trade Center has captured the largest new tenant lease downtown in 25 years," said Port Authority Executive Director Christopher Ward.

The deal gives Conde Nast a million square feet of brand-new office space. Until now, only one other corporate tenant, a Chinese company, had leased space there.

With the lease signed on Wednesday, not only will the Port Authority rake in nearly $2 billion in rent over a 25-year lease, but officials also said the publisher of magazines including Vogue, Vanity Fair and the New Yorker will bring cachet to the neighborhood and help attract other firms.

"There’s no question that their move downtown is going to be an incredible shot in the arm for Lower Manhattan’s revival," said Mayor Michael Bloomberg.

"It is a sign that the rebuilding of Lower Manhattan is real," said State Senator Daniel Squadron.

Conde Nast is expected to move about 3,000 workers into the space, taking up floors 20 through 41. The move-in date is not until late 2014.

Click here to continue reading this story and view a video of Senator Squadron's comments