Global Financial Advisor Kroll Signs 10-Year Sublease at One World Trade Center, Leaving Tensions with Landlord Unresolved

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 1 World Trade Center in Lower Manhattan. The asking rent for the space is $59 per square foot.

Kroll, which was founded in 1972 by Jules Kroll and has grown into a global operation, will be relocating its headquarters from the 17th floor of 55 East 52nd Street in Midtown to the new space at One World Trade Center. The company is known for assisting clients with tasks such as recovering stolen wealth.

The deal for Kroll was arranged by Avison Young, while JLL represented Condé Nast. Condé Nast has had a rocky 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 fact, tensions rose in 2021 when Condé Nast withheld rent in an effort to renegotiate its lease terms, but eventually paid up. Since then, the company has sublet space to several tenants, 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.