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One World Trade Center Adding Broadcast Center

NEW YORK CITY—One World Trade Center, soon to stand as the Western Hemisphere’s tallest building, is planning to add broadcasting to its summit.

As part of an arrangement now being finalized with The Port Authority of New York and New Jersey, The Durst Organization would oversee construction and operation of a broadcast facility atop the tower. The installation would offer television and FM radio broadcast capabilities.

With a 408-ft. spire reaching an ultimate height of 1,776 sq. ft., One World Trade Center’s broadcast center is expected to attract a number of broadcast partners, while promising to generate significant revenue for the project in return for a relatively modest capital investment.

Employing full redundant power, the One World Trade Center broadcast center would be marketed together with a broadcast tower atop 4 Times Square, also operated by The Durst Organization. The two towers would together serve as a primary and back-up facility, creating an economy of scale for broadcast tenants.

Upon completion, the broadcast center is projected to generate more than $10 million annually. The facility would require approximately $7.4 million in up-front capital costs. All costs related to the broadcast facility would be borne entirely by The Durst Organization. Prior to September 11, 2001, the World Trade Center’s North Tower featured a 360-foot broadcast center at its top.

With construction now having risen to the 92nd floor, One World Trade Center is the tallest building in downtown Manhattan. Upon completion, One World Trade Center will stand 104 stories high and offer 71 rentable floors totaling three million sq. ft. of leasable, class-A office space.

In May, publisher Condé Nast signed a 20-year lease to occupy 1,046,260 sq. ft. on floors 20-41, approximately one-third of the building. In combination with additional tenants—including China Center New York LLC, a division of Vantone Industrial Co. Ltd., which signed a 190,810-sq.-ft. lease in March 2009, and a 300,000-sq.-ft. commitment by the federal General Services Administration -- One World Trade Center will soon be more than 50 percent leased.

One World Trade Center will be managed, operated and leased by The Durst Organization. Cushman & Wakefield is serving as leasing and marketing agents for the building’s office space.

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