Bank of New York officially claimed 192,000 square feet of former Condé Nast space at One World Trade Center, we’ve learned.
Negotiations for the sublease were reported in the Commercial Observer.
BNY needs the four floors while it renovates its headquarters at 240 Greenwich Ave., the CO reported.
The deal reflects Lower Manhattan’s resilience 24 years since 9/11, as spelled out in a report by the Downtown Alliance.
The business improvement district’s second-quarter summary found 87% more leasing activity over the same period in 2024 — “the most robust since the start of COVID,” the report said.
Availability dipped for the sixth consecutive quarter to 22.8%. The figure reflects the removal of 89,000 square feet from the market for residential conversion.
Data from CBRE corroborates the trend. The brokerage tallied 2.7 million square feet of downtown leasing, including new and renewal leases, to date this year, reflecting over 870,000 square feet of positive absorption.
The Alliance also reports the residential population below Chamber Street, including in Battery Park City, more than doubled from just under 33,000 pre-9/11 to 70,000.
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