Condé Nast Publications Inc. is in talks to become the biggest tenant at 1 World Trade Center, the skyscraper now rising at the lower Manhattan site where the twin towers were destroyed, a person familiar with the talks said.
Representatives from Condé Nast, a unit of Samuel Irving Newhouse Jr.’s Advance Publications Inc., toured the construction site and held discussions with the Port Authority of New York and New Jersey, owner of the planned 1,776-foot tower, the person said. The person declined to be identified because he wasn’t authorized to speak publicly by his employer.
The magazine company, whose titles include Vogue, Glamour and GQ, is seeking about 1 million square feet of space, the person said. Such a commitment would be the biggest yet for the 104-story tower, whose prospects for success have been uncertain as demand for downtown offices waned in the recession.
“An increasing number of forward-thinking companies want to be in lower Manhattan,” Elizabeth H. Berger, president of the Alliance for Downtown New York, said in an e-mailed statement.
“Not only would Condé Nast’s employees have shopping options from J&R to Hermes, but they’d have a number of great dining options, and also enjoy the convenience of the district’s ferry terminals, 14 subway lines, 33 bus routes and PATH station,” Berger said.
Condé Nast’s current headquarters is 4 Times Square.
Developers the Durst Organization and Related Cos. of New York and Boston Properties Inc. (BXP) are competing to manage and invest in 1 World Trade Center with the Port Authority.
The discussions with Condé Nast were reported earlier today by the New York Times.
To contact the editor responsible for this story: Kara Wetzel in New York at firstname.lastname@example.org