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Academy of Sciences Inks First 7 WTC Lease

NEW YORK CITY-The New York Academy of Sciences is the first tenant to sign on the dotted line for space at 7 World Trade Center. The academy inks a 15-year deal for the entire 40th floor and expects to move into the 40,000-sf space for its next academic year in September of 2006.

By Barbara Jarvie | Updated on December 15, 2005

NEW YORK CITY-By Manhattan standards, it’s not the bigest lease ever signed, but its implications are huge. The New York Academy of Sciences has become the first tenant to take space at 7 World Trade Center, the last building to fall on Sept. 11 and the first to rise again. The academy, which signed a 15-year, 40,000-sf lease for the entire 40th floor, will return to its Lower Manhattan roots when it moves into the space next September. The site is one block from where it was founded in 1817. (The lease deal was not the only news coming from Silverstein and Ground Zero. Read more.)

New York Academy of Sciences president Ellis Rubinstein tells GlobeSt.com that the firm looked at as many as 30 potential sites before choosing 7 WTC. “We got an excellent deal,” he said, adding that it is approximately $3 million less than what they would have paid at the next choice, 1 Madison Ave. The space will also include a conferencing center in the space that will host major international conferences.

Rubinstein said the academy had no qualms about the security of the site. “The building is spectacular and over code. I think the city will keep it extremely safe.”

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