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Conde Nast in 'Active Negotiations' to Move to One World Trade Center

By Julie Shapiro | August 3, 2010 3:07pm | Updated on August 3, 2010 3:51pm
Conde Nast is likely moving to One World Trade Center, shown here under construction last week.
Conde Nast is likely moving to One World Trade Center, shown here under construction last week.
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DNAinfo/Julie Shapiro

By Julie Shapiro

DNAinfo Reporter/Producer

LOWER MANHATTAN — Conde Nast has signed a tentative deal to move its headquarters from Times Square to One World Trade Center.

The magazine publisher will likely lease up to 1 million square feet in the rising 2.6 million-square-foot skyscraper, a source familiar with the discussions confirmed to DNAinfo after the New York Times reported the news Tuesday. Formerly known as the Freedom Tower, the 1,776-foot, $3.2 billion building will be the tallest in the city when it opens.

Conde Nast COO John Bellando sent Conde employees an e-mail Tuesday morning confirming “active negotiations” over One World Trade Center but said “a final decision is several months away.”

The move would not take place before 2014, Bellando said in the e-mail obtained by DNAinfo.

City Councilwoman Margaret Chin, who represents lower Manhattan, called Conde’s likely move “great news” for downtown.

“It’s so important to bring diverse businesses to the area,” Chin said in a phone interview.

Chin added that hundreds of workers coming downtown would be a boon to local small businesses.

Conde Nast will have plenty of company in the media world downtown, including the Daily News, which recently announced a move to Water Street, said Liz Berger, president of the Downtown Alliance business improvement district.

“It’s little surprise that Conde Nast, which sets a standard for wit, style and cutting-edge thinking, is considering making lower Manhattan its new home,” Berger said in a statement.

When rumors of Conde Nast's move first surfaced in May, Port Authority Executive Director Chris Ward told DNAinfo the deal would be “groundbreaking.”

Conde Nast is now based in 4 Times Square, a building owned by the Durst Organization. Durst recently won a bid to help the Port Authority develop One World Trade Center.

A move to the new location would enable the mega publisher to house all of its brands in one place.

A Conde Nast spokeswoman declined to comment on the move, beside saying there were active negotiations.

The Port Authority released a statement saying, “There is clearly momentum both in the building of the World Trade Center site and the growing interest from potential tenants.”