NEW YORK | 175 Greenwich St. | 1,079 FT | 80 FLOORS - Page 120

Surrealplaces · #**2381** Posted **Jan 11, 2012, 6:59 PM**

Nice to see this one rising.

NYguy · #**2382** Posted **Jan 11, 2012, 10:45 PM**

Quote:

Originally Posted by THE BIG APPLE

^ Initally I was going to put the kids in my post, but I mostly had recollection of his wife being second in command in the company after him.

Doesn't matter. The company will go on. The WTC is just one of many developments ongoing or planned for them, though the most important obviously. There are obligations to be satisfied.

599GTO · #**2383** Posted **Jan 12, 2012, 8:30 AM**

Quote:

Originally Posted by THE BIG APPLE

Lets say hypothetically that 80 year old Larry Silverstein dies. Then will the outlook go from fair to zero for this building?

No. When he dies the outlook will remain the same, assuming the building is still at its current state (a stump). It's a big corporation and there are tons of people working with him to get the towers off of the ground. Why would the outlook change? Someone will take over and continue from where he left off.

Otie · #**2384** Posted **Jan 12, 2012, 6:38 PM**

Otie · #**2385** Posted **Jan 13, 2012, 5:28 AM**

Joe Woolhead, WTC.com

NYguy · #**2386** Posted **Jan 13, 2012, 5:29 PM**

These towers are just so massive. We've already come a long way from the days of waiting for any sign of construction.

Still a long way to go up.

doughaslam

rjb001 · #**2387** Posted **Jan 13, 2012, 6:18 PM**

Quote:

Originally Posted by Otie

Could someone maybe outline in red the parts of this diagram that are currently what we see above grade? It's hard to tell what we're looking at.

asharmaearth411 · #**2388** Posted **Jan 13, 2012, 7:27 PM**

Embark this Special '3' Part Series and Follow the Recent Development and Progress at the New World Trade Center Site!

• http://www.youtube.com/watch?v=a0QYuOm4_Is" target="_blank">Video Link

Significant Progress is being made at the WTC site everyday! Exclusive (Late December, 2011 - Early January, 2012 Update) Special.

Happy New Year Everybody! - Cheers!
- ASharmaEarth411HD

Ed007Toronto · #**2389** Posted **Jan 13, 2012, 7:30 PM**

Looking good.

Otie · #**2390** Posted **Jan 13, 2012, 7:59 PM**

Quote:

Originally Posted by rjb001

Could someone maybe outline in red the parts of this diagram that are currently what we see above grade? It's hard to tell what we're looking at.

That's an overhead plan, view from the top. What's rising is the core, rough dimensions at podium level.

Red is the core, green line marks the division betwen lower podium and upper podium. It will rise up to this line until Silverstein finds a tenant.

PS. Don't take that poor rendering seriously, missing too many things like the 2nd and 3rd floorslab.

Otie · #**2391** Posted **Jan 17, 2012, 3:52 PM**

Joe Woolhead's blog.

NewYorkSkyline117 · #**2392** Posted **Jan 17, 2012, 9:54 PM**

so steel will start going up soon possibly?

babybackribs2314 · #**2393** Posted **Jan 22, 2012, 1:21 AM**

Photo taken by me on Thursday; it's quite visible now. 200 Greenwich is still below the fencing (mostly) but this is definitely starting to be noticed.

Full update/more pics:

http://newyorkyimby.blogspot.com/201...on-update.html

NYguy · #**2394** Posted **Jan 22, 2012, 11:55 AM**

Just read, this is going on hold by the end of the year if no tenant is found.

NYguy · #**2395** Posted **Jan 22, 2012, 1:35 PM**

http://www.crainsnewyork.com/article...301229973/1009

Silverstein to call a halt at 3 WTC
Unable to line up tenants, developer to cap his second Trade Center tower at seventh floor.

By Theresa Agovino
January 22, 2012

Quote:

Developer Larry Silverstein is planning to halt construction by the end of the year on the second of the two towers he is currently building at the World Trade Center site if he can't find a major office tenant, sources close to the company said. Minor modifications have already been made to the ongoing construction of the tower that will allow it to be capped at the seventh floor—73 short of its planned height. Retail tenants would be sought for the seven-story podium.

If Mr. Silverstein finds a tenant before the tower is capped, he can go ahead and complete what will be known as 3 World Trade Center, although there might be some delays, depending on when the deal is struck.

Despite a host of government incentives to lure firms to lower Manhattan, Mr. Hennessy estimates that a 400,000-square-foot tenant would need to spend about $100 million just to outfit an office. Faced with those kinds of costs in a lackluster economy, Mr. Hennessy said, it's likely that more companies might opt to renew their current leases. Morgan Stanley, for example, has been searching for months for between 1 million and 1.4 million square feet. Now, sources said, the bank is very close to renewing its lease at 1 New York Plaza and taking some additional space there, which would be a much more cost-effective option.

While other big companies—including Time Warner, News Corp. and Credit Suisse—continue to prowl the market for huge digs, their ranks are thinning. Last year, the number of tenants seeking more than 100,000 square feet tumbled 23%, from 74 to 57, according to Cushman & Wakefield Inc.

Sources say Mr. Silverstein's tower has an advantage over other planned projects for now: Tenants can actually see the start of the building and visit the World Trade Center site. In contrast, except for one building, Related has to build a huge platform over the rail yards before it can start construction, as does Brookfield. That requires tenants with the imagination to envision the finished product and the confidence to take a chance that the neighborhood can be successfully transformed into a premier office market.

Inv3rted · #**2396** Posted **Jan 22, 2012, 3:06 PM**

At least it'll be built eventually.

Alliance · #**2397** Posted **Jan 22, 2012, 3:49 PM**

Very true. Just not now. Remember they only recently got enough tenants to fully finance 4WTC at the end of last year. They'll build the podium and then stop and, for better or worse, this tower will be under construction within 6 months to a year (depending on how much Silverstien wants to continue subsidizing rents). I doubt it'll be longer than a year. If it is they should fire their broker lol.

1Boston · #**2398** Posted **Jan 22, 2012, 4:23 PM**

I think they can do it by the end of the year. As long as the eurozone doesn't collapse and screw us over, i think we can do it. If starts to pick up the pace, as it seems to slowly be doing, then i think they will see a few more companies in the market for new office space.

Dac150 · #**2399** Posted **Jan 22, 2012, 5:10 PM**

Remember - this is nothing we didn't already know. Keep your fingers crossed that a tenant will be located within a few months. If that's not the case we'll just have to wait a tad longer for this one to fully rise. There are a lot of companies hungry for new space - it's literally only a matter of time until a match is found.

NYguy · #**2400** Posted **Jan 22, 2012, 6:29 PM**

Quote:

Originally Posted by Dac150

There are a lot of companies hungry for new space - it's literally only a matter of time until a match is found.

That's true, and there is a limited amount of top supply. New towers are on the way, but they aren't in the ground yet. This one is already visible.

Quote:

Last year, the number of tenants seeking more than 100,000 square feet tumbled 23%, from 74 to 57, according to Cushman & Wakefield Inc.

That's still a pretty good amount. I'm sure Silverstein won't want to stop - rebuilding the WTC is now his life's mission, and I'm sure he would like to see it out - but it will depend on market response.

Quote:

If Mr. Silverstein finds a tenant before the tower is capped, he can go ahead and complete what will be known as 3 World Trade Center, although there might be some delays, depending on when the deal is struck.