NYC’s LEED-Certified Office Inventory Evaporating: 11 Floors Remain at Gold 7 WTC

Looking for LEED-certified office space in New York City? Your task continues to get tougher after yesterday’s announcement that a mere eleven floors remain available at Larry Silverstein’s fifty-two story 7 World Trade Center in the wake of tech company NCR Corp.’s multi-year lease of the LEED Gold building’s thirty-fifth floor. The company will open [...]

Looking for LEED-certified office space in New York City? Your task continues to get tougher after yesterday’s announcement that a mere eleven floors remain available at Larry Silverstein’s fifty-two story 7 World Trade Center in the wake of tech company NCR Corp.’s multi-year lease of the LEED Gold building’s thirty-fifth floor. The company will open a New York office of 200 employees at the tower, where asking rents hover between $70 and $75 per square foot. (By way of comparison, note those at LEED Platinum hopeful Bank of America Tower in Midtown). According to Crain’s, NCR will get $1.5 million in relocation assistance, a $1.1 million rent tax exemption, and a $500,000 sales tax exemption for its interior office fit out.

Based in Akron, Ohio, 30,000 employee NCR is a Fortune 400 company that provides technology for ATMs, digital check processing, and retail self-checkout. It tells Crain’s that the move will “allow it to expand into core retail and financial markets.” According to Governor Spitzer, “NCR’s decision to move its executive offices to the World Trade Center site is further evidence of the continued revitalization of lower Manhattan.” Expect similar announcements in the coming months as competition for the city’s currently limited LEED-certified office inventory becomes increasingly heated.

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