Assets
Office · Downtown Manhattan

One World Trade Center

285 Fulton Street, Downtown Manhattan · Built 2014 · 94 floors
Partial
Current value
$3.90B
▼ 2.0% 1-yr (modeled)
Cap rate
4.49%
▼ 31 bps vs 4.80% submarket
NOI · derived
$175.0M
Value $/SF
$1,258
$3.14B$3.35B$3.56B$3.77B$3.98B201920202021202220232024Modeled trajectory — no observed history
sourcedmodeled0 of 6 sourced

Ownership & debt

Ownership transparency

Recorded chain
Recorded owners
Port Authority of New York and New Jersey
US-NY · Fee simple · 90% interest
The Durst Organization ~10% (acquired a 10% stake from the Port Authority in 2010; also leasing/management agent)
US-DE · Limited Partnership · Equity interest
Ultimate beneficial owner — as recorded
Port Authority of New York and New Jersey (bi-state public agency); land owner of the 16-acre WTC site
Beneficial interest
Corporate structures from GLEIF LEI Level-1/Level-2 data (CC0, golden copy 2026-07-26). Methodology

Debt

No publicly recorded debt
Debt appears here only when a recorded mortgage, deed of trust or securitization filing names this asset — nothing is inferred from ownership or market norms.
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.

Tenants & leasing

estimated
Occupancy
95.0%
WALT (area-wtd)
13.2 yrs
Top-3 concentration
58%
Condé Nast (anchor; ~1.2M sf HQ since 2015)U.S. General Services Administration (GSA)Ameriprise FinancialStagwellCelonis
Per-tenant lease detail arrives with disclosed stacking plans.
Top 5 of ~28 tenants shown. Occupancy / WALT / concentration are whole-building estimated figures.

Underwriting

Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
6.6%
Exit cap
4.74%
Exit value
$4.28B
Exit NOI
$202.9M
Unlevered IRR sensitivity — exit cap Δ × NOI growth
Exit Δ2.0%2.5%3.0%3.5%4.0%
-25 bps7.6%8.2%8.7%9.2%9.8%
0 bps6.6%7.1%7.6%8.1%8.7%
+25 bps5.6%6.1%6.6%7.1%7.6%
+50 bps4.6%5.1%5.7%6.2%6.7%
+75 bps3.7%4.3%4.8%5.3%5.8%
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.

Provenance footnotes

  1. Current value: Estimated — no sourced claim on file.
  2. Cap rate: Estimated — no sourced claim on file.
  3. NOI: Estimated — no sourced claim on file.
  4. $/SF: Estimated — no sourced claim on file.
  5. GLA: Estimated — no sourced claim on file.
  6. Ownership — Port Authority of New York and New Jersey: Single source — durst.org · https://www.durst.org/properties/one-world-trade-center
  7. Ownership — The Durst Organization ~10% (acquired a 10% stake from the Port Authority in 2010; also leasing/management agent): Single source — durst.org · https://www.durst.org/properties/one-world-trade-center
  8. Tenant — Condé Nast (anchor; ~1.2M sf HQ since 2015): Single source — en.wikipedia.org · https://en.wikipedia.org/wiki/One_World_Trade_Center
  9. Tenant — U.S. General Services Administration (GSA): Single source — grokipedia.com · https://grokipedia.com/page/List_of_tenants_in_One_World_Trade_Center
  10. Tenant — Ameriprise Financial: Single source — commercialsearch.com · https://www.commercialsearch.com/news/ameriprise-renews-lease-at-one-world-trade-center/
  11. Tenant — Stagwell: Single source — grokipedia.com · https://grokipedia.com/page/List_of_tenants_in_One_World_Trade_Center
  12. Tenant — Celonis: Single source — commercialsearch.com · https://www.commercialsearch.com/news/energy-firm-takes-full-floor-at-one-world-trade-center/

Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.

Anchoring begins when the asset enters the live ledger.