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New York Post
13-05-2025
- Business
- New York Post
One World Trade Center hunting tenants for top floors — the highest offices in NYC: ‘Once-in-a-generation'
Nearly 1,100 feet above Lower Manhattan, the top two floors of office space at One World Trade Center — the tallest building in the Western Hemisphere — are hitting the leasing market for the first time, offering what its developers are calling a 'once-in-a-generation' opportunity for tenants seeking rarefied air and even rarer space. Yes, businesses can occupy what's being billed as the highest-elevated offices available in New York City. The 89th and 90th floors, totaling 46,000 square feet, are now available for lease as premium office space — a move that marks both a symbolic and financial turning point for the 3.1 million-square-foot tower, which is now 95% leased, according to a press release. The Durst Organization, which co-developed the skyscraper with the Port Authority of New York and New Jersey, is seeking rents of up to $160 per square foot — a price more commonly associated with Midtown trophy towers. 9 For the first time since opening its doors, the highest office floors at One World Trade Center — the 89th and 90th stories — are hitting the leasing market, offering what's being billed as the tallest office space available in New York City. Christopher Sadowski 9 The Durst Organization, which co-developed the tower with the Port Authority, is asking up to $160 per square foot for the roughly 46,000 square feet of panoramic space — a premium price point more in line with Midtown's trophy towers. Durst Organization 'It's certainly likely to be something in finance,' Eric Engelhardt, who oversees leasing of the penthouse levels for Durst, told Bloomberg, which first reported the news. 'Maybe it's a venture capital that invests in these technology companies that we have all over the building.' The offering arrives as companies continue to jockey for premiere space in a city where location and prestige remain levers to draw workers back to the office five years after COVID-19. Manhattan leasing activity jumped 46% in the first four months of the year compared with the same period in 2024, and Lower Manhattan just notched its strongest office leasing quarter since before the pandemic. 9 Renderings show what the leased office space could look like. Durst Organization 9 The listing comes as demand for top-tier office space rebounds, with companies seeking to attract employees back with sweeping views and high-end amenities. Durst Organization The new tenants will ascend via a pair of elevators in just 75 seconds to floors with 20-foot ceiling heights and 360-degree views that span from the Atlantic Ocean to the bridges of the East River. The space includes floor-to-ceiling windows on both levels and an abundance of natural light — elements developers say are key in today's amenity-focused office climate. 'For a decade after 9/11, it was just a giant hole in the ground and it was very sad for us New Yorkers to endure,' Shaia Hosseinzadeh, founder of OnyxPoint Global Management, which moved into the 45th floor of the tower in 2017, told Bloomberg. 'You have this tower that stands as a testimony to the resilience.' 9 Until now, the 89th and 90th floors had been occupied by a Chinese business center and broadcast equipment, both of which have since vacated. Durst Organization Until recently, the top floors served unconventional purposes. The 90th housed bulky broadcast equipment for the tower's antenna — now largely obsolete due to tech advances — while the 89th was leased by a Chinese business center affiliated with Vantone Holdings that ultimately never occupied the space. Now, with the market's renewed appetite for ultra-prime locations, the Durst Organization believes the penthouse office could appeal to top-tier tenants once again. 'Tenants are looking for premium, top-of-house offices in New York City's trophy buildings — and supply is limited,' David Falk, President of Newmark's New York Tri-State Region, said in a statement. 9 The building is already 95% leased. Durst Organization 'The new penthouse floors at One World Trade Center are truly unique spaces that present the opportunity to build a custom office with endless possibilities.' The project also reflects the evolution of the Financial District. Once defined by the towering presence of banks and brokerages like Morgan Stanley — now headquartered farther uptown — today's FiDi has become a mixed-use hub for commerce, dining and high-end living. 9 The building is already home to tenants like Condé Nast and Energy Capital Partners. Durst Organization 9 Brokers say a major firm could soon take the plunge downtown, as Midtown's soaring rents push companies to reconsider Lower Manhattan. Durst Organization 'The Port Authority has reimagined the World Trade Center as not just a workplace, but a destination,' Jolene Yeats, World Trade Center Director at the Port Authority stated in the release. 'We're looking forward to welcoming even more unique companies to this vibrant neighborhood offering top-notch shopping, dining and cultural experiences.' One World Trade already hosts a diverse slate of tenants, including Condé Nast, Wunderkind Corp., Carta, Ameriprise, Celonis, Stagwell and Energy Capital Partners. 9 The neighborhood transformed in the years since 9/11 from a finance-dominated district into a dynamic mix of luxury condos, retail and next-generation office space. Christopher Sadowski Building amenities include a 'Well& by Durst' sky lobby on the 64th floor — offering curated events, gourmet meals, and event space. 'The penthouse at One World Trade Center offers a once-in-a-generation chance for a visionary company to develop an office that soars above,' Jody Durst, president of The Durst Organization said in a statement.
Hindustan Times
12-05-2025
- Business
- Hindustan Times
New York City's tallest tower leases its highest floors for the first time
(Bloomberg) -- Some 1,100 feet in the air, almost as high as you can go anywhere in New York City, One World Trade Center is leasing office space for the first time — a striking milestone in Lower Manhattan's long recovery. Ten years after the skyscraper opened, the 89th and 90th floors are now available to the highest bidder searching for square footage in New York's increasingly crowded commercial real estate market. The new tenants will sit atop the sprawling group of skyscrapers that make up the rebuilt World Trade Center complex, overlooking the two vast 9/11 Memorial pools that mark where the original Twin Towers stood. But even here, business calculations prevail. The big one: How much is someone willing to pay to move into what is being billed as the highest office for lease in the Western Hemisphere? The family-owned Durst Organization, one of the developers, is aiming to command rents as high as $160 per square foot — a sum beyond anything seen in Downtown Manhattan and closer to the prices associated with prime office space in Midtown, where many of the city's finance firms migrated over the past decade. With the new offering, the Durst Organization says it may well lure at least one of them back. 'It's certainly likely to be something in finance,' said Eric Engelhardt, who heads leasing of the penthouse floors for the Durst Organization. 'Maybe it's a venture capital that invests in these technology companies that we have all over the building.' A 75-second ride up two elevators, the gods-eye view stretches out from the 46,000 square feet of available space, with a 360-degree panorama of the city and beyond. Above helicopter view, at eye level with looming thunderstorms, the bridges remind viewers they're on an island, the Statue of Liberty is thumb-sized, and the Atlantic Ocean spans the horizon. Existing tenants of the 3.1 million square foot building — built by the Durst Organization and The Port Authority of New York and New Jersey and currently 95% occupied — include Advance Magazine Publishers Inc.'s Conde Nast, tech marketers Wunderkind Corp. and investment firm Energy Capital Partners. It's a sharp contrast to the towers' former makeup, which included floor after floor of insurance firms, brokerages and banking giants such as Morgan Stanley. Their new homes can be spotted several miles away from the top of One World Trade Center — closer to Grand Central Terminal and the glistening new towers of Hudson Yards. Since they left, the Financial District has undergone a makeover, adding glass towers where stone once ruled and replacing silent trading floors with luxury condos. The neighborhood is dotted with high-end malls, from the vast Brookfield Place to the distinctive Oculus structure, also a giant transit hub that links what's now dubbed FiDi with New Jersey. And while vacant office space in New York remains above pre-pandemic levels, demand for prime locations has surged in recent months as firms flock to trophy buildings in an effort to lure employees back to in-person work. Manhattan leasing activity rose 46% January through April from the same period last year, shrinking available space. Lower Manhattan, meanwhile, just had its strongest office leasing quarter since 2019. 'Midtown now is so tight and so expensive that some tenants are forced to look back Downtown,' said Howard Fiddle, a vice chairman at CBRE Group Inc., who co-heads its New York City Agency Department. He's heard from companies in Midtown about soaring prices and predicts at least one household name will make the move south within a year. 'Once one does it, more will do it.' Until recently, the penthouse at One World Trade was home to some unusual tenants. On the 89th floor, a Chinese business center was set up to host companies interested in investing in the country. But it was never occupied, and after years of empty conference rooms the tenant, a subsidiary of China's Vantone Holdings, agreed to abandon the lease. Just above, the 90th floor was taken over by broadcast equipment to help news stations transmit via the giant building's antenna. Technological advancements have shrunk the bulky equipment needed to broadcast, freeing up half of the space for rent. Shaia Hosseinzadeh, founder of commodities-focused alternative asset manager OnyxPoint Global Management, has worked on the 45th floor of the building since relocating from Midtown in 2017. For him, the tower is a symbol of the city's tenacity. 'For a decade after 9/11, it was just a giant hole in the ground and it was very sad for us New Yorkers to endure,' said Hosseinzadeh, who wanted a workspace with great views, amenities and natural light, all of which he said help to attract employees and drive productivity. 'You have this tower that stands as a testimony to the resilience.' More stories like this are available on ©2025 Bloomberg L.P.
Egypt Independent
21-02-2025
- Politics
- Egypt Independent
Young voters are powering the rise of Germany's far-right AfD party
On a wet evening in Suhl, in the former East Germany, a smattering of youthful faces were among hundreds lining up to hear from an unlikely idol – Björn Höcke, one of the most controversial figures in the far-right Alternative for Germany (AfD) party. Höcke, a former history teacher, has been found guilty of using Nazi terminology in a speech and has faced criticism for his views even within the AfD, seen as a pariah by Germany's mainstream parties. This mattered little though at the non-descript hall tucked away in a deserted shopping center in Suhl. When asked about his popularity among young people and if he is a good role model, he was clear in his answer. 'If they… see a bit of a pop star in me, then that's fine, because the youth also need idols like that,' he told CNN last Tuesday. Höcke is capable of pulling a big crowd, he is lauded in these parts. The AfD's victory in the state in elections last year made it the first far right party to win any sort of election since the Nazi era. Yet the trend of young voters choosing the AfD for their politics is a phenomenon that is a rising across Germany. Polls for the upcoming election on Sunday, and the AfD's success in regional elections last year, show the party has transformed from regional to national force. If European election results last year – which saw an 18% increase in 16–34-year-olds voting for the AfD – are a barometer, the rise nationally among the same group could form a significant part of the AfD's likely climb into second place. The AfD in Thuringia is designated an extremist organization by German domestic intelligence and Höcke is its leader. But many of the young people we spoke to didn't attempt to hide their admiration for Höcke, with some saying they came specifically to listen to him. Dante Reidel, a 26-year-old student, standing next to a stall selling the German far-right magazine 'Compact,' said he is also a designated extremist. For Reidel, Höcke is an idol, 'it's also about the personalities… who embody certain values. And what I really appreciate about Höcke is that he is honest… and he speaks plainly.' He details some of his ideology and what he views as important to him. In particular the veneration of nationalistic, expansionist and militaristic periods of history. 'Prussian virtues, things like diligence, discipline. These are things that are important, including the cardinal virtues from antiquity,' he said. At the rally, CNN also met 23-year-old Eric Engelhardt, head of Thuringia's Young Alternatives, and seemingly another disciple – he spent his evening photographing Höcke. Eric Engelhardt, head of Thuringia's Young Alternatives, said 'something has changed' in young German voters. CNN The next day, CNN spent time with Engelhardt in his hometown of picturesque Sonneberg, as he campaigned and posted flyers in people's letterboxes. The Young Alternatives are also nationally designated as extremists. It is part of the reason that they recently voted to disband and reform more formally under central AfD control. Engelhardt says the designation is a conspiracy against them and that they have no extremists in their ranks. When asked about why so many young people are voting for the AfD, he repeats the now-common AfD refrain. 'Migration is the mother of all crises. We have a lot of illegal immigrants in this country… who are not behaving. And I think that many of the problems we have today… are also caused by migration, by uncontrolled mass immigration,' Engelhardt says. The same week, a car driven by an Afghan migrant tore through a peaceful protest in central Munich. A 36-year-old woman and a 2-year-old died from their injuries. It marked the third attack in as many months. An Afghan migrant killed two in a Aschaffenburg knife attack in January, and a car-ramming at a Christmas market in Magdeburg killed six last year. The spate of attacks has catapulted the issue of migration to the fore. The AfD's response has been to call for 'remigration': The mass return of migrants. The term has Nazi connotations. Engelhardt called it a 'scientific term' and says the deportation of people is not what they are calling for but rather, they want a tighter migration policy more generally. AfD leader Alice Weidel, however, told CNN in January she would immediately start 'sending out all the illegals' should she win the election. Regardless of the designations, connections to extremist individuals and reforming of his political association, Engelhardt remains certain that Germany's future lies in the hands of the young. He said 'something has changed' in young German voters. 'The fact many young people want to vote for the AfD means that we also have a future.'
