1 WTC signs new tenant after 3-year dry spell

The final section of the spire sits on top of One World Trade Center on May 10, 2013 in New York after it was fully installed on the building's roof.  Credit: Getty Images
The final section of the spire sits on top of One World Trade Center on May 10, 2013 in New York after it was fully installed on the building’s roof. Credit: Getty Images

Owners of the One World Trade Center building signed a new lease on Tuesday with a new tenant — the first new agreement in three years for the still-unfinished skyscraper.

Upscale ad agency KiDS will rent out the 87th floor of the 104-story building, scheduled to be completed sometime this year.

The agency joins flagship tenant magazine publisher Conde Nast, which is scheduled to move into 1 WTC in November.

On Tuesday, the Wall Street Journal reported that the building’s owners had resorted to slashing prices on lower levels by almost 10 percent to attract new tenants. As of May 2014, a little more than half of the 3-million-square-foot is leased out.

“Today’s lease announcement is further proof that One World Trade Center will serve as a center for jobs and commerce in our region by attracting world-class tenants like KiDS,” a Port Authority spokesman wrote in a statement.

Formerly but still colloquially referred to as the Freedom Tower, the design the Port Authority — which is part owner and co-developer on the project — was unveiled in 2005.

While under construction, the site has faced its share of scrutiny beyond their ability to lease space. In March, a teenager successfully evaded lax security and reached the top of the building. Months earlier, four men base jumped from the top of the building.

Follow Chester Jesus Soria on Twitter @chestersoria



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