Kroll Signs 10-Year Sublease for Entire 31st Floor at Condé Nast Headquarters: What This Means for the Future of Office Space in NYC

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. Kroll is relocating its headquarters from the 17th floor of 55 East 52nd Street in Midtown to the new location, with an asking rent of $59 per square foot.

The deal was arranged by Avison Young and JLL represented Condé Nast. The company has been subleasing out a significant portion of its office space at One World Trade Center since moving there in 2014. However, it has had a rocky relationship with its landlords, the Port Authority of New York and New Jersey and the Durst Organization.

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 space to several tenants since 2019, with some of its office floors 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.