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RE Rumor Mill: 1 WTC, China Center, Penn Station

By Kaitlin Ugolik (May 27, 2014, 5:52 PM EDT) -- The Durst Organization Inc. and the Port Authority of New York & New Jersey are reportedly planning to slash office rents at 1 World Trade Center ahead of the building's official opening thanks to concerns about slow leasing activity. The Wall Street Journal reported that the owners have yet to sign many private tenants at the building, despite marketing the property for almost three years. The 3.1 million-square-foot skyscraper is 55 percent leased, the Journal reported, and the owners are cutting asking rents by nearly 10 percent. Durst told the paper that the market for the space, which was originally priced at about $75 per square foot, is "just not there."...

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