JERSEY CITY-The LeFrak Organization is activelyshopping for a big tenant to commit before it adds a new 1.25million-square-foot office tower to its sprawling, mixed-useNewport development on the Jersey City waterfront.

The pitch to potential tenants includes this potent lure: Somecould reduce their net effective rents to below $10 a square footfor ten years, even $0 for ten years, “depending on how theyqualify for the state’s incentives programs.” The primary breakcomes through the state’s Urban Transit Hub tax creditprogram, for which most funding is already committed.However, renewed funding of the program is now under considerationby legislators.

Pier Six is a 8.76-acre site, directly on theHudson River, that offers up to a total 1.25 million rentablesquare feet. Jamie LeFrak, a principal of thecompany that has been building Newport for almost three decades,says in a statement that permits, plans, and capital funding areall in place.