A German bank will lease the top three floors of 7 World Trade Center, the 52-story building in lower Manhattan financed with Liberty bonds, the building’s owner announced last week.
Silverstein Properties said that WestLB AG has signed a 15-year lease for approximately 129,000 square feet of office space at the building, moving its New York headquarters from Midtown. The new tenant brings the 1.7 million square foot building’s occupancy to 83%.
The building’s construction was financed with $475 million of Liberty bonds sold through the New York City Industrial Development Authority in 2005. It opened in May 2006.
Moody’s Investors Service is the building’s largest tenant, renting 17 floors and paying an annual rent of $29 million, which was nearly half of the building’s rent roll of $59.4 million on July 1, according to disclosure documents.