AI Firm Takes 26 KSF at One World Trade Center
The tallest building in Manhattan is now 97 percent leased.
AI company Mercor has signed a 25,550-square-foot office lease at The Durst Organization and The Port Authority of New York’s One World Trade Center, in Manhattan’s Financial District. The landlord had in-house representatives, but was also represented by Newmark, while CBRE worked on behalf of the tenant.
Following the deal with Mercor, One World Trade Center is 97 percent leased. The AI company will occupy space on the 77th floor. The transaction came quickly after Ameriprise Financial’s renewal of its 37,704-square-foot lease at the trophy tower, for an added period of ten years.
In April of this year, Energy Capital Partners expanded its lease at the high-rise, now occupying the entire 59th floor, which measures 70,425 square feet. Apart from Ameriprise Financial and Energy Capital Partners, Mercor will also join Condé Nast Publications, Carta, Celonis, NormAi, Stagwell, Scale AI, and Frier Levitt in the roster.
READ ALSO: 2026 Office Outlook: Discipline Takes Center Stage
The 3.1 million-square-foot One World Trade Center came online in 2014 as the tallest building in the Western Hemisphere, rising 104 floors averaging 36,000 square feet. The LEED Gold-certified trophy tower features 54 passenger elevators and a 25,000-square-foot amenity floor.
The Durst Organization Senior Vice President Eric Engelhardt, Managing Director Karen Rose, Associate Director Sayo Kamara were the in-house representatives for the landlord in the lease signing with Mercor. Additionally, Newmark President David Falk, Vice Chairmen Peter Shimkin and Hal Stein, Director Nathan Kropp and Associate Director Paige Raisides worked of behalf of the ownership as well. CBRE Senior Associate Harry Singer represented the tenant in the deal.
AI firms lease office space in anticipation
Though AI companies continue to lease large office spaces across Manhattan—no less than 1 million square feet in the first quarter of 2026—the desks seem to outnumber the employees, The Wall Street Journal wrote. This trend, rather than reflecting the needs of these types of tenants, tries to anticipate their expectations of rapid hiring, as well as establish credibility across the market.
Another company to sign a large office lease in Manhattan was EliseAI. The company inked a 109,000-square-foot headquarters commitment at Chetrit Organization’s 401 Fifth Ave., where it’s expected to occupy space for the next 10 years.
As of May, Manhattan’s average office listing rate rose 1.8 percent year-over-year to $69.29 per square foot, maintaining its top spot as the most expensive market in the U.S., according to a recent Yardi Matrix office report. The market was followed by San Francisco ($62.11 per square foot) and Miami ($58.41 per square foot). During the same month, the borough’s vacancy rate dropped 140 basis points on a trailing 12-month basis to 13.2 percent.
You must be logged in to post a comment.