Venerable Signs Lease For 11,000 Square Feet At One World Trade Center

New York, NY (May 7, 2024) – The Durst Organization and The Port Authority of New York and New Jersey today announced that Venerable, an insurance and annuity company, has signed a lease for 11,000 square feet on the 49th floor of One World Trade Center. The building is 95% leased.

“One World Trade continues to be the most active office destination in Lower Manhattan. We are delighted to welcome Venerable to join this thriving business community,” said Jody Durst, President of The Durst Organization.

“In New York’s ever-evolving economic landscape, one thing remains certain: employers are attracted to high-quality office space in vibrant neighborhoods,” said Port Authority Executive Director Rick Cotton. “With 95 percent of the building now leased, One World Trade Center stands tall as an enduring symbol of New York’s fortitude and the bustling centerpiece of a thriving World Trade Center campus.”

“Employers and visitors alike are recognizing the unique energy and appeal of the World Trade Center area,” said Port Authority Chairman Kevin O’Toole. “This lease signing is further evidence of the value employers see in locating their workforce in such a dynamic and vibrant neighborhood, alongside convenient transportation, exceptional dining, and world-class arts and culture offerings.”

“Venerable's commitment to new space at One World Trade Center supports our growth aspirations as an organization and our ability to attract and retain top talent. We look forward to welcoming our team to the new office, enjoying panoramic views of New York City from the 49th floor, amenities, and all that Lower Manhattan has to offer,” said David Marcinek, Chairman and CEO of Venerable.

One World Trade Center is the tallest building in the Western Hemisphere. The 3.1 million-square-foot LEED Gold certified skyscraper features premier office space and 360-degree, panoramic views of New York City. Located on the 64th floor of One World Trade Center, Well& by Durst is a full-service 25,000-square-foot amenity space. Well& by Durst offers tenants and their guests a world-class corporate and social hub, purpose-built to foster creativity, collaboration, and community.

The Durst Organization was represented in house by Eric Engelhardt and Karen Rose and by Newmark’s David Falk, Peter Shimkin, Hal Stein, Jason Greenstein, and Nathan Kropp. Venerable was represented by Michael Mathias, Vice Chairman at Cushman & Wakefield.

Built by The Port Authority of New York and New Jersey and The Durst Organization in a unique public-private partnership, One World Trade Center sets a new standard of design, construction, and prestige.

About the Durst Organization

The Durst Organization, founded in 1915 by Joseph and Rose Durst, is the owner, manager, and builder of 13 million square feet of premier Manhattan office towers and over three million square feet of residential rental properties, with 3,400 rental apartments built and several thousand units in the pipeline. The Durst Organization is recognized as a world leader in the development of high-performance and environmentally advanced commercial and residential buildings where people live, work, and thrive. For more information, visit www.durst.org.

About the Port Authority of New York and New Jersey

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.

About Venerable

Venerable is a privately held company with business operations based in West Chester, Pennsylvania, Des Moines, Iowa and New York, NY. Venerable owns and manages legacy variable annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, Inc., Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd., Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. For more information, please visit www.venerable.com.