Financial advisory firm Kroll has signed a 10-year sublease for 48,026 square feet on the entire 31st floor of the 1.2 million-square-foot 1 World Trade Center headquarters owned by publishing giant Condé Nast. The asking rent for the space is $59 per square foot.
Kroll, founded in 1972 by Jules Kroll and known for assisting clients with tasks such as recovering stolen wealth, is relocating its headquarters from the 17th floor of 55 East 52nd Street in Midtown to 1 WTC. The deal was arranged by Avison Young, while JLL represented Condé Nast.
Condé Nast has had a tumultuous relationship with its landlords, the Port Authority of New York and New Jersey and the Durst Organization, since moving to the tower in 2014. In recent years, tensions have escalated between the company and its landlords over rent payments. In fact, in January 2021, Condé Nast withheld rent in an attempt to renegotiate its lease terms but eventually paid up. Since then, the company has subleased out significant portions of its office space at One World Trade Center to several tenants. Some of their office floors are still available for sublease online. However, it remains unclear how much space Condé Nast plans to retain in the tower going forward.