Quote:
Originally Posted by Don098
 That makes no sense...why would Silverstein buy most or all of the steel he needs to build this building without erecting it? First of all, where would he get that money? The banks aren't financing this until there's a tenant. And secondly, even if he told the steel company to proceed with the entire steel order, what incentive does he have to wait until he's secured a tenant? It would be in his interest to get that building up as fast as he could to lure some of these big tenants whose contracts run out in the next few years... |
From my understanding the steel is already bought, being held in an off-site location.