Downtown NYC Landlords Remake Offices in Shift From Banks
July 31, 2013

About 1.4 million square feet are unspoken for in the skyscraper, which is slated to open to tenants next year and will have Conde Nast Publications Inc. as its anchor tenant. Another 1 million square feet are available at Silverstein Properties Inc.’s 4 World Trade Center, to open before year-end.

There’s “a mismatch between the unprecedented amount of class A space currently available and the preferences of the tech sector for loft space in a neighborhood with a non-corporate vibe,” according to tenant brokerage Studley Inc.

“Tech and creative-sector companies in Manhattan are indisputably growing by leaps and bounds,” Steven Coutts, senior vice president for national research at New York-based Studley, said in a July 24 report. “Nevertheless, this sector still lacks the heft to fill the void” left by contracting banks and other traditional office users, such as accounting and insurance companies.

Downtown NYC Landlords Remake Offices in Shift From Banks

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