Financial advisory firm Kroll has recently signed a 10-year sublease for 48,026 square feet on the entire 31st floor of Condé Nast’s 1.2 million-square-foot headquarters at 1 World Trade Center. The asking rent for the space is $59 per square foot.
Kroll, founded in 1972 by Jules Kroll, has grown into a global operation and is known for assisting clients with tasks such as recovering stolen wealth. The company was previously located on the 17th floor of 55 East 52nd Street in Midtown before relocating to the new headquarters at 1 WTC.
The deal for Kroll was arranged by Avison Young, while JLL represented Condé Nast. This latest sublease marks another move by Condé Nast at its headquarters, following a rocky relationship with its landlords, the Port Authority of New York and New Jersey and the Durst Organization. In recent years, tensions have risen between the two parties, including when Condé Nast withheld rent in an effort to renegotiate its lease terms in 2021. However, ultimately, the company paid up and has since subleased space to several tenants online.
Despite this latest sublease with Kroll, representatives from both Durst and Condé Nast did not respond immediately to requests for comment on their current relationship or any future plans regarding office space at 1 WTC.