The World Trade Center hasn’t seen so much positive news since before 9/11.
Ground was broken last week for the new Amex headquarters at Two World Trade Center, which will complete the site’s quartet of skyscrapers to replace the Twin Towers.
Now, ending a decade-long struggle to fill most of Three World Trade Center’s “podium” level, major event space Glasshouse struck a deal to launch its first downtown outpost in 66,436 square feet on three floors.
The lease is with Unibail-Rodamco-Westfield (URW), which owns the WTC’s retail space, and the Port Authority, which owns the land. Glasshouse partner Alex Holiday called the move a “once-in-a-generation opportunity” to set up a flagship “at one of the most important destinations in the world.”
Glasshouse already has three Manhattan venues, including at 660 Twelfth Avenue at West 48th Street, which was several times the site of the Real Estate Board of New York’s annual gala.
Most of the WTC Glasshouse space will be on the second and third floors. A 2,000 square-foot ground-level space on the Church Street side will serve as a VIP arrival lobby and guest entrance.
Brazilian restaurant Fogo de Chao has 5,000 square feet on the ground floor, but the Glasshouse lease still leaves some retail space available on the ground floor.
The PA’s precise role in the deal wasn’t clear. A spokesperson said, as the [ground] landlord it played an important role in the approval and execution of the long-term lease for Glasshouse Downtown.”
The dark lower levels were a passing vexation to tower developer Larry Silverstein, who was able to fill 90 percent of its 2.5 million square-foot skyscraper with tenants such as Uber, WPP, and financial and legal firms.
The empty floors were more problematical to URW and its predecessor company, Westfield America, after two highly-touted restaurant deals fell through.
The Glasshouse venue is expected to handle up to 2,000 attendees. But the opening is at least 18 months away due to the need for design and construction.
CBRE’s Chris Mansfield, Anthony Dattoma and Zachary Weil repped Glasshouse in lease negotiations. URW repped itself in-house.
Mansfield, a CBRE vice-chairman, called the lease “a defining milestone for Glasshouse and reflects growing demand for high-quality, experiential venues in the city.”
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