Thursday, December 25, 2014

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1 WTC Owners Slashing Rent Prices

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TWC News: 1 WTC Owners Slashing Rent Prices
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The owners of 1 World Trade Center are slashing rents in hopes of filling the building's empty space.

The Durst Organization says rents are being lowered nearly 10 percent on the tower's middle floors, from $75 a square foot to $69.

The skyscraper is only 55 percent full, and no one has signed a new lease there in nearly three years.

Major tenants currently leasing space at 1 World Trade include the magazine publisher Conde Nast, and the General Services Administration.

The tower is expected to open later this year.

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