Condé Nast magazine publishing company has signed a tentative deal to move to a new skyscraper at 1 World Trade Center, according to a report in the New York Times.
Once known as the Freedom Tower, the 1,776-foot-tall, 2.6 million-square-foot skyscraper will be the tallest building in New York when it is completed in 2013. If the deal goes through, the move would take place in 2014.
The Port Authority of New York and New Jersey owns the building, which is said to be worth $3.2 billion. The authority is hoping that Condé Nast will bring the same kind of cachet to a rebuilt trade center that the publisher brought to a "dowdy" Times Square in the late 1990s.
The move would bring a much-needed diversity to Lower Manhattan’s economy and could trigger a trend for other creative companies to consider relocating downtown.