Financial advisory firm Kroll has 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 One World Trade Center (1 WTC). The asking rent for the space is $59 per square foot.
Kroll, founded in 1972 by Jules Kroll, has grown into a global operation that assists clients with tasks such as recovering stolen wealth. The firm was previously located on the 17th floor of 55 East 52nd Street in Midtown and is now relocating to 1 WTC.
Condé Nast has had a tumultuous relationship with its landlords, the Port Authority of New York and New Jersey and the Durst Organization, since moving to the tower in 2014. In 2021, tensions rose when Condé Nast withheld rent in an effort to renegotiate its lease terms, but eventually paid up. The company has sublet out a significant portion of its office space at 1 WTC since then and some of its office floors are still available for sublease online. The amount of space Condé Nast plans to retain in the tower remains unclear.
Representatives for Durst and Condé Nast did not immediately respond to requests for comment on the recent sublease with Kroll.