AI Company Mercor Takes 26K SF at Durst’s One World Trade Center – Commercial Observer
One World Trade Center is almost 100 percent leased thanks to the latest deal with an artificial intelligence company, Commercial Observer has learned.
Mercor, which employs human experts to train AI algorithms, has inked a five-year, 25,550-square-foot deal on the 77th floor of the Lower Manhattan office tower, the Durst Organization announced Tuesday. Durst owns the 104-story building along with the Port Authority of New York and New Jersey.
The exact asking rent was not disclosed, but a source close to the deal told CO that the asking rent was in the high $80s to $90s per square foot.
Durst was represented in-house by Eric Engelhardt, Karen Rose and Sayo Kamara, along with David Falk, Peter Shimkin, Hal Stein, Nathan Kropp and Paige Raisides from Newmark. Harry Singer from CBRE represented Mercor. The brokers did not immediately respond to requests for comment.
“One World Trade Center was built for forward-looking, cutting-edge companies looking for a world-class home in New York City,” Jody Durst, president of Durst, said in a statement. “We look forward to welcoming Mercor to the building.”
Mercor’s website says its headquarters is located in San Francisco, and does not list a New York City address. However, company CEO Brendan Foody previously posted on LinkedIn that the company would be expanding to New York City in January. It is unclear whether Foody was referencing the deal at One World Trade Center.
“New York puts us close to some of the most important enterprises in the world, and to some of the highest caliber talent,” Koby Twist, special initiatives lead at Mercor, said in a statement. “One World Trade Center gives our team a home at the center of both.”
One World Trade Center, the tallest building in the Western Hemisphere, was built by the Port Authority and Durst in a public-private partnership. Other recent tenants include fashion and culture publication W Magazine, global financial services company Ameriprise Financial, and energy- and infrastructure-focused investment firm Energy Capital Partners.
Amanda Schiavo can be reached aschiavo@commercialobserver.com.
