N.Y. Life Insurance coverage Co. is relocating its workplaces from 120 Broadway to One World Commerce Middle in Manhattan. The mutual life insurance coverage firm has signed a 47,000-square-foot workplace sublease with Advance Journal Publishers Inc., Condé Nast’s dad or mum firm, for the complete thirty ninth flooring. The transfer will happen in Could 2023.
JLL Capital Markets labored with the landlords, The Port Authority of New York and New Jersey and The Durst Group, to rearrange the 10-year contract. Eric Engelhardt, senior vp with Durst, helped facilitate the transaction on behalf of the possession.
One other lease transaction closed just lately within the campus, as legislation agency Freshfields signed with Silverstein Properties for 180,000 sq. ft of workplace house at 3 World Commerce Middle.
The tallest constructing within the World Commerce Middle advanced
Accomplished in 2014, the 104-story high-rise encompasses roughly 3 million rentable sq. ft and is the tallest constructing of the brand new World Commerce Middle advanced, at 1776 ft excessive. Designed by Skidmore, Owings & Merrill, the LEED Platinum-certified property options floorplates starting from 25,000 to 47,358 sq. ft, a 55-foot-high workplace foyer, 54 high-speed passenger elevators and 55,000 sq. ft of retail. Tenant facilities embody the sixty fourth flooring Sky Foyer, café and convention facility operated by Legends Hospitality.
The tower’s largest tenant is Condé Nast, with a footprint of 1.2 million sq. ft; of the entire, 400,000 sq. ft had been put available on the market for subleasing final yr. The roster additionally options the U.S. Basic Companies Administration, Studio71 and Vogue, amongst many others.
Situated in Decrease Manhattan’s Monetary District, the property affords tenants direct underground entry to the PATH Station and 13 subway strains. The constructing is sure by West, Fulton, Washington and Vesey streets.
The JLL workforce representing Advance Journal Publishers included Chairman & President Peter Riguardi, Vice Chairmen Steven Rotter and Joseph Messina, Managing Administrators Jessica Berkey and Brett Harvey and Vice President Andrew Coe. JLL Vice Chairman Matthew Astrachan, Managing Director Nicole Tiger, Govt Vice President George Gemelos and Affiliate Vice President Kristen Morgan assisted N.Y. Life within the negotiations.
