If you build office space, someone is bound to move in. Conde Nast has confirmed they signed a tentative deal that would move from their flagship Times Square location into the building formerly known as the Freedom Tower.
According to NY Magazine, employees were emailed a memo regarding the move today:
‘We have been evaluating real estate opportunities that would allow us to house all our brands in a single, state-of-the-art headquarters, as some of you may already know.As part of that process, we are in active discussions regarding 1 World Trade Center, a development project underway with the Durst Organization (our 4 Times Square landlord) and the Port Authority of New York and New Jersey.
While a final decision is several months away â€” and a move itself unlikely before 2014 – we wanted to keep you apprised of the status of this project.Â We also wanted to alert you, since it is now highly likely that we will move from 4 Times Square, whether to 1 World Trade Center or another location, that we will be reviewing our present and future space requirements for each of our businesses. More information about that process will be communicated shortly.”
It was speculated that Conde Nast would be one of the first tenants at the World Trade Center site after Durst was confirmed as one of the of two developers overseeing the reconstruction of the World Trade Center site. Durst’s relationship with high profile tenants was seen as an advantageous by the Port Authority.
This is the second announcement of publications moving into the lower manhattan area. The Daily News, America Media Inc. and Manseuto Ventures have recently called our area their new homes.