NEW YORK | 200 Greenwich - 2 WTC | 1,270 FT | 80 FLOORS | ON HOLD

[jayden]

I thought they had tried getting JP Morgan to the site before, but they decided to go to Hudson Yards? Oh wait, their deal at HY fell through no?

[chris08876]

From Ingels twitter:


Credit: https://twitter.com/bjarkeingels

[NYguy]

Originally Posted by jayden

I thought they had tried getting JP Morgan to the site before, but they decided to go to Hudson Yards? Oh wait, their deal at HY fell through no?

The Hudson Yards move was canceled. At least for now (or then).

[NYguy]

http://m.propertyweek.com/5082005.ar...lesite=enabled

A New York state of mind: Larry Silverstein interview


13 May 2016
By Steve Cuozzo

When Silverstein put up the gleaming successor to 7 World Trade entirely on spec, detractors including then New York City mayor Michael Bloomberg griped that he was demanding too high a rent. But Silverstein’s vindication was sweet: the tower opened empty in 2006 and was 100% leased within six years. Towers 4 and 3 (the latter not yet finished) are already more than 50% leased, to companies including tech and media firms that didn’t exist in 2001, such as Media Math and GroupM.

The gnawing missing link remains 2 World Trade Center. “We do expect to put a deal together for the tower by 2017 and I believe it will be finished in 2021, or at the latest 2022,” he says.

A year ago, Rupert Murdoch’s 21st Century Fox and News Corporation signed a non-binding letter of intent to occupy 1.6m sq ft. However, in January the companies decided not to pursue the project over cost and fears of corporate disruption.

Even when a tenant comes along, bankrolling the $4bn 2 World Trade might be harder than it was for 3 World Trade. A MUNI market downturn caused Silverstein to postpone full construction even after he had signed GroupM as an anchor tenant. It wasn’t fully green-lit until October 2014, when he exploited a bond market ripening to finally place, via Goldman Sachs, $1.1bn in tax-exempt Liberty Bonds.

Now, his total $3bn in Liberty Bonds is exhausted and last summer he tapped HFF to seek investors, probably a pension fund or sovereign wealth fund, for a stake in 2 World Trade via an equity partnership or mezzanine debt. He weighed up the idea of seeking Chinese backing under the US government’s controversial EB-5 programme, which grants citizenship to investors and their families who put in at least $500,000 in equity.

However, since Murdoch bowed out, Silverstein has declined to speculate on financing. “There are too many moving parts,” he says. “It’s impossible to say until such time as a user presents itself. At that point, clarity becomes much easier.”

The design for 2 World Trade sports a cutting-edge, stepped and ziggurat-faceted design by Danish starchitect Bjarke Ingels, which replaced an earlier, more conventional design by Lord Foster.

What if a company preferred the original Foster design, which was drawn up in 2007 with large trading floors to accommodate financial firms?

“I think we are more committed to the Ingels design,” Silverstein says, leaving the door open a crack. “Ingels is the architectural language of today and tomorrow as opposed to the past. The Foster building was beautiful, and had we gotten it up earlier, it would have been wonderful.”

[hunser]

Larry turned 85 today. He'll be 90 when 2WTC is done ...

[NYguy]

Larry Silverstein has done so much to get the WTC rebuilt, even through the early days when all the talk was of the "greedy" developer who wanted to rebuild the office space. Let's hope he's still around to see a competed 2 WTC and WTC complex. They should rename one of the streets around the site for the man.

[CityGuy87]

Originally Posted by NYguy

Larry Silverstein has done so much to get the WTC rebuilt, even through the early days when all the talk was of the "greedy" developer who wanted to rebuild the office space. Let's hope he's still around to see a competed 2 WTC and WTC complex. They should rename one of the streets around the site for the man.

If we're counting 5 WTC into this equation, then he'll be even older. Obviously, 2 WTC is the real hurdle to get over and hopefully they actually land a tenant and hopefully they don't back out at the last minute. At this point, I don't care if they build the Foster or BIG proposal, I just wanna see the damn thing done.

[JACKinBeantown]

Originally Posted by NYguy

Larry Silverstein has done so much to get the WTC rebuilt, even through the early days when all the talk was of the "greedy" developer who wanted to rebuild the office space. Let's hope he's still around to see a competed 2 WTC and WTC complex. They should rename one of the streets around the site for the man.

Uh, no. Respectfully... no. There are at least 2,606 people whose names should be ahead of Silverstein's.

[NYguy]

Originally Posted by CityGuy87

If we're counting 5 WTC into this equation, then he'll be even older.

Silverstein doesn't have anything to do with 5 WTC. That ball is in the PA's court. Eventually, they will get around to deciding what to do with it, and selecting a developer or selling the site. That site is so in limbo that I don't even consider it a part of the WTC anymore. But the park is coming along nicely.

Originally Posted by JACKinBeantown

Uh, no. Respectfully... no. There are at least 2,606 people whose names should be ahead of Silverstein's.

I don't know what you're talking about. There is a nicely done memorial for all of the people who lost their lives on 9/11. You can go and see it any day. And were it not for Silverstein, that's all we would have had on site. You may not agree with everything he has done, but give the man his due. He pushed for rebuilding, and we are getting it. It's not even an arguable point.

[JSsocal]

^There's already a Silverstein park in front of 7wtc. Need more?

[NYguy]

Originally Posted by JSsocal

^There's already a Silverstein park in front of 7wtc. Need more?

Yes. They should name something on the original site for the man that pushed (and is still strugling) to have the office space built on site. I know a lot of you can't comprehend or weren't aroung to understand the dynamics of New York and the site after 9/11. But it was not a sure thing that this office space would be rebuilt. There were calls for the entire site to remain a vast memorial, and it would have been very easy, given the emotional state at the time to leave it as is. New York has lots of streets name for various people, for various reasons. This is certainly one of the remarkable things in the city's history, and yes, the WTC needed to be rebuilt and is being rebuilt. I'm saying you have Larry Silverstein to thank for that, fifteen years and going. Of course, they'll probably wait until the man is gone.

[JACKinBeantown]

Originally Posted by NYguy

Yes. They should name something on the original site for the man that pushed (and is still strugling) to have the office space built on site. I know a lot of you can't comprehend or weren't aroung to understand the dynamics of New York and the site after 9/11. But it was not a sure thing that this office space would be rebuilt. There were calls for the entire site to remain a vast memorial, and it would have been very easy, given the emotional state at the time to leave it as is. New York has lots of streets name for various people, for various reasons. This is certainly one of the remarkable things in the city's history, and yes, the WTC needed to be rebuilt and is being rebuilt. I'm saying you have Larry Silverstein to thank for that, fifteen years and going. Of course, they'll probably wait until the man is gone.

I understand the rationale behind your opinion, NYguy, and I respect it. But I think naming a sports arena after a billionaire is more appropriate. In this case, considering what happened on September 11 (and I was in lower Manhattan that morning) it would be inappropriate to name a street after Silverstein when there were so many people who lost their lives, so many who rescued others, saved lives, became ill as a result, and had their lives changed so much that day.

Yes, he has worked hard to get these structures built, but he is also their "owner" and is making a lot of money off of them. I just don't think it would be the right thing to do.

[NYguy]

Originally Posted by JACKinBeantown

I understand the rationale behind your opinion, NYguy, and I respect it. But I think naming a sports arena after a billionaire is more appropriate. In this case, considering what happened on September 11 (and I was in lower Manhattan that morning) it would be inappropriate to name a street after Silverstein when there were so many people who lost their lives, so many who rescued others, saved lives, became ill as a result, and had their lives changed so much that day.

That would put you squarely in the club that felt the entire site should remain a memorial. But the memorial is there, and business has returned to the surrounding site in the form of the office towers and shopping, and everything else that goes on in New York. It wouldn't be disrespectful, it's New York moving on as it should and has. No one will ever touch the memorial, that's what it is there for, complete with the names of those lost. However, that is just one part of the story of New York after 9/11. The other part of the story is how did New York respond and rebound. Did the city hold back and say "no, we won't rebuild, and we won't build tall again"? The answer is no. What I'm saying to you is that if Larry Silverstein had not held steadfast to that desire to rebuild, we would be looking at a very different story. Even the Port Authority was reluctant in many cases about rebuilding the office space. These are things that people will have forgotten long after the WTC is complete. Suddenly it will seem as if everyone was always for rebuilding. That is just not the case.

[JACKinBeantown]

You make a good point.

[artspook]

after 911 . . a lot people feared tall buildings . .
still . . the sentiment amongst New Yorkers, . .
for rebuilding the WTC, even taller, was widespread . .
I attended a vast symposium on rebuilding ideas, at the Javitz Center . .
I made the NYTimes . . front cover & above the fold ! . .
I may have been a small figure, in a sweeping crowd shot . .
but even without a magnifying glass, you could see, I was there . .
as were massive amounts of passionate others . . brimming with desire . .

At the time, public opinion was all over the map on this issue . .
but the true fiery vehemence, was for rebuilding . .
And so, the public was given its outcry . . Javitz was packed . .
The sorely needed event was well organized . . We broke into groups . .
everybody's opinion was tabulated in detail . .
The strong consensus . . "Rebuild !" . . with a vengeance ! . .
Later there came many architectural models of proposals . .
displayed for public viewing . . . Through a number of permutations, . .
we finally got a final impressive plan . .

The WTC Rebuilding movement was unstoppable . .
Our Collective Spirit had Silverstein, relegated to being mentioned as an aside . .
For awhile, it wasn't clear if he would even retain ownership . . or be bought out . .
Silverstein-less options were seriously considered . .
Then to his credit, . . Silverstein decided, Yes I'll do it . .
He'd step up into the role as helmsman of the rebuilding process . .

Silverstein was an integral part of all this . . but not the only one . .
And for all his capabilities & headaches, . . sure, give Silverstein a monument . .
Street signs are small . . A statue can be ignored . .
But OMG, not Ingles' 1300 ft. "Emperor" ! . .

The Emperor would stand proudly in his "new clothes" . .
pretending to be brilliant, . . smack in the middle of the world . .
flaunting the tritest of tricks, . . & most grotesque dis-proportion . .
hardly an impressive spectacle for Americans to revere . .

With, . . or without Silverstein . . the Trade Center will be entirely rebuilt . .
I only hope that, at this point, it is NOT rushed, to a less excellent completion . .
His scrapping Foster, . . & scalping Rogers, . . were rancid decisions . .
We'll somehow have to live with them . . or maybe not . .

[Enigmatism415]

Originally Posted by JACKinBeantown

I understand the rationale behind your opinion, NYguy, and I respect it. But I think naming a sports arena after a billionaire is more appropriate. In this case, considering what happened on September 11 (and I was in lower Manhattan that morning) it would be inappropriate to name a street after Silverstein when there were so many people who lost their lives, so many who rescued others, saved lives, became ill as a result, and had their lives changed so much that day.

Yes, he has worked hard to get these structures built, but he is also their "owner" and is making a lot of money off of them. I just don't think it would be the right thing to do.

Well, I'm in the opposite camp: the camp that refuses to allow foreign terrorists to permanently damn a piece of FiDi to an existence of wallowing in sorrow. Instead, I'm going to treat the former site of a national tragedy as a happy, optimistic, and productive space. Those with deep scars from that day, myself included, will eventually pass away and take their wounds with them, and that's a healthy progression of history. The new generation of FiDi residents and visitors should not have to suffer the emotional baggage of the past. No one will soon forget what happened, but I can't wait until society can collectively forget the soul-crushing emotions associated with the historical facts. It's a pain that I'm going to take to the grave with me and never fully recover from, but I refuse to drag others down with me.

Silverstein worked hard to restore some pride and integrity to the site, and for that alone it is absolutely appropriate to honour him. There's a giant memorial and museum for 9/11 that occupies the largest footprint at the WTC; there's no reason for any other component of the complex to recognise 9/11 any more than the memorial recognises the office towers.

[NYguy]

Originally Posted by artspook

At the time, public opinion was all over the map on this issue . .
but the true fiery vehemence, was for rebuilding . .
And so, the public was given its outcry . . Javitz was packed . .
The sorely needed event was well organized . . We broke into groups . .
everybody's opinion was tabulated in detail . .
The strong consensus . . "Rebuild !" . . with a vengeance ! . .
Later there came many architectural models of proposals . .
displayed for public viewing . . . Through a number of permutations, . .
we finally got a final impressive plan . .


For awhile, it wasn't clear if he would even retain ownership . . or be bought out . .
Silverstein-less options were seriously considered . .
Then to his credit, . . Silverstein decided, Yes I'll do it . .
He'd step up into the role as helmsman of the rebuilding process . .

I was at that listening to the city event at the Javits, and the only logical plan was basically what we have today. But the public couldn't conceive of a "site plan", so architectural firms were selected to present site plans (complete with renderings) of what a new WTC could look like. The only thing the people in attendance could agree on seeing built was something "iconic" on the skyline.

Silverstein never waivered on rebuilding (even in the immediate aftermath throwing out the idea of four 50-story towers). During the dark times when it appeared there would be no tenants for a new WTC, the calls were for building residential instead. Silverstein did give us residential, in the form of 30 Park Place just to the north. Different administrations came in, and calls were being made for the Port Authority to concede that plans for rebuilding all of this office space were getting nowhere, and perhaps Silverstein should build less, or better yet be removed from the picture altogether since he seemed only concerned with rebuilding office space. Oddly enough, this would lead to our current version of Hudson Yards railroad development, as Sheldon Silver, angered over state of affairs at the WTC, blocked state funding of the proposed Jets stadium over the railyards.

Downtown is a different place today than it was before 9/11. But make no mistake, if Silverstein had not pressed for rebuilding that office space, you would not see much of the development taking place Downtown today.




Jose C. Hernandez

[O-tacular]

Originally Posted by NYguy

Jose C. Hernandez

That crown is definitely more interesting. Is that the newest version?

[artspook]

NYguy, thanks for the thoughtful response . .
at the time of that "listening to the city" event at Javits . .
there was still serious chatter regarding proposals such as . .
grazing COWS on the site . . and other evil granola schemes . .
I, for one, never shut up . . I barked "TALLER BETTER TALLER BETTER"
. . at every body that would listen . . people started agreeing . .
some of these folks were pretty well connected at the time . .
people started agreeing . . people talk to other people, etc . .
We the people, did our relentlessly optimistic part, . .
to get NYC back up into the sky . . Indeed this SSP site, is not without influence . .

Not surprisingly, point by point, . . I agree quite a lot with you . .
though we'll never know if this thing would've gotten built without Silverstein . .
I say it would have. You say not. Doesn't matter . . Silverstein did the job . .
for that, kudos to him . . and to us . . Viva la NYC Skyscraper !!! . .

[artspook]

That crown is definitely more interesting." - O-tacular . .
Really O-tacular ? . . What's interesting about it ? . .
get box, draw lines . . hit rock on head . . have mommy change diaper . .
The masses begged for something "iconic" on the skyline . .
Does that look at all iconic to you ? . . How easily we acquiesce . .