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Deals & Dealmakers

Silverstein signs two new leases at 4 WTC

Silverstein Properties announced that the company has signed two separate leases for a combined 68,489 s/f of office space at 4 World Trade Center.

Validus Group, a global P&C insurance and reinsurance provider, has finalized a 16-year lease for 24,489 s/f on the tower’s 47th floor.

In addition, another retirement, life, and reinsurance company has signed a 15-year, 44,000 s/f lease, which will encompass the entire 51st floor of the 72-story office tower.

The new leases follow on the heels of the announcement of Zurich American Insurance Company’s 132,000 s/f lease on three floors of the Fumihiko Maki-designed 4 World Trade Center.

Larry Silverstein said: “In the last four weeks alone, we’ve inked 200,000 s/f of new leases at 4WTC. Top companies continue to be drawn Downtown because of its exceptional transportation, world-class retail and convenience to neighborhoods where today’s professionals are choosing to live.”

Janno Lieber, president of World Trade Center Properties, an affiliate of Silverstein Properties said: “Once again 4WTC is attracting companies known as innovators. Visionary leaders recognize how top-quality sustainable, modern space delivers the best work environment and positively impacts the bottom line.”

Last week, 300,000 s/f of destination retail opened at the World Trade Center. 4 WTC retailers include Eataly, Banana Republic and H&M.

For the Validus lease, Camille McGratty, Vice President of Leasing for Silverstein Properties, led the negotiations for the landlord, together with the CBRE agency team including Mary Ann Tighe, Steven Siegel, David Caperna, Steve Eynon, Adam Foster, Evan Haskell, Robert Hill and Ken Meyerson.

Validus was represented by Eric Deutsch and Jonathan Cope of CBRE. The landlord was represented by Russell G. Wohl and Carolyn F. Stoner of Skadden, Arps, Slate, Meagher & Flom LLP and the tenant was represented by Yossi Subar and Amanda Kinney of Davis & Gilbert LLP.

For the 51st floor lease, Jeremy Moss, Director of World Trade Center Leasing for Silverstein Properties, led the negotiations for the landlord, together with the CBRE agency team including Mary Ann Tighe, Steven Siegel, David Caperna, Steve Eynon, Adam Foster, Evan Haskell, Robert Hill and Ken Meyerson. The tenant was represented by Erik Schmall and Michael Mathias of Savills Studley.

The first tower to be completed on the 16-acre site, 4 WTC was designed to meet a LEED Gold standard of sustainability. A model of transparency and efficiency, the 977 foot tower contains 2.3 million square feet of high-tech office space spread over 56 office floors.

Tenants in the building include MediaMath, SNY, Hudson River Trading, Silver Suites Offices, Morningstar, PadillaCRT, Syntactx, Dixon Hughes Goodman, Port Authority of New York & New Jersey, and City of New York.

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