Checking in at 1 World Trade Center: On Antennas, Leases & Other Items

1 World Trade Center has been in the news quite a bit recently: we catch up on its new broadcasting facility, a lost lease, and its ongoing climb towards becoming New York City’s tallest building.

1 WTC at World Trade Center

1 World Trade Center has been in the news quite a bit over the past week, so let’s catch up quickly:

Broadcasting Facility to Compete for Tenants, With ESB

The Durst Organization announced plans for a new broadcasting facility, anchored by 1 WTC’s 480-foot antenna. “Our expectations would be to become the premiere broadcast facility in New York City,” Thomas Bow, senior vice president at the Durst Organization, told the Wall Street Journal.

Driving the plan is Durst’s hope that commercial tenants will relocate from the Empire State Building, whose broadcast antenna generated $16.1 million in rent and usage fees in 2010. 1 WTC’s antenna could do the same. And Durst plans to make its 4 Times Square antenna available to tenants as a backup.

But the shape of the antenna would be somewhat different from SOM’s original design for the tower, appearing slimmer and less conical. Durst plans to fund the $27 million in building infrastructure and construction costs for the project, which the Port Authority has approved.

Gotham’s Tallest Building

Sometime in the next few weeks, 1 WTC will rise past the Empire State Building and assume the mantle of New York City’s tallest building, well on its way to a symbolic final height of 1,776 feet. According to the Port Authority, 1 WTC’s steel has risen to the 93rd floor; installation of the curtain wall has reached the 70th floor; and concrete floors have been poured up to the 87th floor.

No Go for Major Law Firm Lease

Under curious circumstances, Chadbourne & Parke will not be moving to 1 World Trade Center. The New York Post reported earlier today that the law firm “abruptly” informed the Port Authority and Durst that the deal was dead. The 200,000-square-foot lease would have added to the 1.37 million square feet of private sector space already accounted for at the 3 million-square-foot tower. Still, Chadbourne must vacate its current space at 30 Rockefeller Plaza in 2014 when Deloitte is slated to move in. “[F]ollowers of both downtown and the legal landscape [are] scratching their heads,” Steve Cuozzo writes in the Post.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or for more information about our services and to discuss how we can assist you.

, , , , , , ,

No comments yet.