Silverstein Properties signs four leases at 7 World Trade Center

Silverstein Properties, one of New York City’s leading real estate development and management companies, today announced four lease signings at 7 World Trade Center totaling more than 104,000 square feet. The company also announced that it has reached a $457.5 million refinancing agreement for the iconic building.

The four leases bring the building to 97% occupancy, with a 40,000 square foot floor available for rent. Separately, Goldman Sachs led the refinancing, including $449.19 million of tax-exempt bonds and $8.31 million of taxable bonds. The deal was executed in green bonds, financing instruments that raise capital and invest in new and existing projects with environmental benefits.

Leases include:

  • Mansueto Ventures LLCthe editor of Inc. and fast business magazines, and one of the first media tenants to move into the new World Trade Center in 2007, renewed its 40,000 square foot lease. Jeremy Moss of Silverstein Properties represented the owner in the deal. CBRE’s David Glassman represented Mansueto Ventures.
  • corner stone, a global alternative investment management firm, signed a 40,000 square foot lease. Jeremy Moss of Silverstein Properties represented the owner in the deal. Robert Lowe and Jonathan Fein of Cushman & Wakefield represented Capstone.
  • Kostelanetz & Fink, LLP, a tax law firm, renewed its 18,158 square foot lease. The company was one of the building’s first tenants in 2007 and expanded its presence in 2015. Jeremy Moss of Silverstein Properties represented the landlord in the deal. Eric Zemachson and Brian Cohen of Newmark Knight Frank represented Kostelanetz & Fink.
  • UPSTACK, a marketplace that helps customers select and activate a variety of IT services, signed a lease for 5,400 square feet. UPSTACK has moved from 745 Fifth Avenue. Jeremy Moss of Silverstein Properties represented the owner in the deal.

“7 World Trade Center is one of New York’s most iconic office buildings,” said Jeremy Moss, executive vice president and chief leasing officer for Silverstein Properties. “It’s very gratifying to see long-term tenants renewing and new tenants joining us in the building. As businesses adjust to post-pandemic life and plan for the future, well-located, accessible, sustainable, and high-tech buildings like 7 WTC will continue to be their workplace of choice.

“When 7 World Trade Center opened in 2006, it opened a new chapter in the history of Lower Manhattan,” said Marty Burger, president and CEO of Silverstein Properties. “As New York’s first LEED-Gold certified office building, it has set a new standard for sustainable design, energy efficiency, health and safety. The building was also quickly leased to some of the city’s most forward-thinking businesses. From now on, thanks to its refinancing carried out in green bonds, the 7 World Trade Center continues to serve as a model of sustainable development.

Skadden, Arps, Slate, Meagher & Flom LLP acted for Silverstein Properties and Hawkins Delafield & Wood, LLP acted for underwriter Goldman Sachs.

The 52-story, 1.7 million square foot 7 World Trade Center is a benchmark for innovative design, safety and sustainability. Designed by Skidmore, Owings & Merrill, 7 World Trade Center combines high-performance infrastructure with high-performance floors. With column-free spans of 45 feet, high ceilings, and city, river, and harbor views in every direction, the 40,000 square foot floor plate offers unparalleled flexibility to customize every space.

The building is 97% leased. Tenants include Moody’s Corporation, Moët Hennessy, Zola, WilmerHale, BMI, Skidmore, Owings & Merrill, Fast Company and Inc. Magazine, Jeffrey Beers International and Silverstein Properties.

Across the Silverstein Properties portfolio, businesses now have access to a new onboarding program, INSPIREwhich offers hotel-grade amenities, community events, fitness classes, and access to all amenities spaces and flexible coworking spaces in the Silverstein portfolio, allowing guests to choose the best work environment for their needs.

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