Official: Conde Nast to sign $2B WTC tower lease

May 24, 2011 - 6:30 PM

NEW YORK (AP) — An official says magazine publisher Conde Nast has finalized a lease to move into a million square feet of the signature skyscraper at the World Trade Center site.

The official familiar with the lease negotiations tells The Associated Press that Conde Nast and the trade center site's owner have agreed to a 25-year, $2 billion lease.

The official was not authorized to speak publicly about the matter ahead of a scheduled lease signing on Wednesday and spoke to the AP on condition of anonymity.

Executives from Conde Nast and the Port Authority of New York and New Jersey are scheduled to make an announcement on the 34th floor of the building at 3 p.m. Wednesday.