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

[Guiltyspark]

Originally Posted by Don098

Yes. All the focus is on Tower 3. If these tenants sign, Silverstein will turn his attention to Tower 2.

I never understood why the best looking, and most interesting tower in the complex is slated to be the last built....

[NewYorkDominates]

Best for last.

[Dac150]

Glad to hear this! It's been a long time in the making, but fingers crossed, we'll get a couple signings!

[Design-mind]

I would also love to see this go through as I am a big fan of WTC 2, but 1.1million square feet of a 2.8 million sq foot tower leaves it still pretty empty. But maybe with a few deals signed others will be less timid in signing as well.

[davidinasia]

This news is especially promising not only because it is said to be "a firm offer" but because there are said to be two of them. Having two likely clients greatly increases the chances that at least one of them will go through, particularly because having a fallback increases Silverstein's leverage and makes it more likely that the client will accept a rate Silverstein can live with.

Anyway, good news on T3 would be a nice Xmas gift for everyone here; but it bugs me that the core concrete forms were taken off on that last image.

[NYguy]

Originally Posted by Design-mind

I would also love to see this go through as I am a big fan of WTC 2, but 1.1million square feet of a 2.8 million sq foot tower leaves it still pretty empty. But maybe with a few deals signed others will be less timid in signing as well.

That's the thing about lease signings. Either of these two companies could have leased space in tower 4 instead, but it is not simply the amount of space available, but also where that space is located. My guess is that these two are opting for lower floors on tower 3, which should be at reduced rates. But for firms looking for larger leases, in the 1 msf or so range, despite what space remains, tower 3 would not be as much of an option because of limitations there. I would be surprised if Silverstein were able to sign a lease of that size here after and if the 2 potential tenants sign. It's looking less and less like an option for the mega-tenants like we see with Conde Nast at the Freedom Tower. But that doesn't mean it won't be.

[NYguy]

IntoTheLens827

[NYguy]

EO NY

[NYguy]

Maybe some smaller leases are what Silverstein needs to fill the building up, if he can pick up some of the fallout from Sandy...


http://www.crainsnewyork.com/article...TATE/121219965

Flooded downtown building may go residential
Badly damaged tower at 110 Wall St. is completely emptied of office tenants as owner Rudin Management
eyes need to replace and raise key equipment—and to possibly turn property into apartments or a hotel.




By Daniel Geiger
December 12, 2012

William Rudin is pressing total reset at his 300,000 square foot, 27-story tower at 110 Wall Street. Two months after it was inundated by Superstorm Sandy, the Rudin Management-owned property has been completely emptied of office tenants. In recent weeks, the company exercised its right to cancel leases..."We didn't want to keep our tenants in limbo, so we gave them notice we are terminating the leases," said Mr. Rudin, the company's chief executive.

At this point, he said that he is weighing all his options, including the possibility of converting the tower to residential or mixed-use. Mr. Rudin said the building sustained substantial damage from Sandy, which flooded several sections of lower Manhattan, crippling dozens of office properties. The property has been without power and many of its systems such as water pumps and elevator mechanicals need to be replaced. The repair bill is expected to extend into the millions of dollars. Escalating that expected bill will be the need to move critical infrastructure at the property to higher floors so it would be out of reach of floods in the future.

"We didn't take the decision to cancel leases lightly, we understand we're impacting tenants," Mr. Rudin said. "It could remain as an office building, it could be mixed-use, we could have a hotel here, there are a variety of different uses and we're not ready to say what it's going to be." Sandy, however, may offer an opportune catalyst for the owners of 110 Wall Street and other commercial properties hit by the flooding to go residential. The storm allowed all of the building to be vacated, a process that normally can take months if not years because office leases typically have different expiration periods.

[Silverfox]

Originally Posted by NYguy

This bit will surely make a unique mall.

[NYguy]

Originally Posted by Silverfox

This bit will surely make a unique mall.

That particular side will be the office lobby...





With retail on the opposite (Church St) side...

[Ed007Toronto]

Thanks for the updates.

[drumz0rz]

New Steel went up today on the street side of the building. I took some pictures and a video from the street. I'll post them when I get home from work later.

edit: here's the vid.
https://www.youtube.com/watch?v=J2GiYRBEoO4
• Video Link

[bigreach]

sorry, haven't been following this forum, but do they have the green light to go all up, or is it still capped at about 8 stories?

[drumz0rz]

still capped although there are growing rumors that they're about to secure the tenants to give this the green light.

[Eidolon]

Originally Posted by drumz0rz

still capped although there are growing rumors that they're about to secure the tenants to give this the green light.

That would be great Christmas present to skyscraper fans.

[NYguy]

From the video, you get a sense of just how massive this tower will be.

[rack776]

I like that rendering above, its good to have a reminder that this will be a "normal" part of the city again...someday.

Its been hard to think of any of these WTC towers as real office buildings and not just "perpetual" construction sites.

[NYguy]

Originally Posted by rack776

Its been hard to think of any of these WTC towers as real office buildings and not just "perpetual" construction sites.

When the stores are open, and the office workers are rushing in and out of the building, that will be a great day for all of New York. Forget about the skyline, the street will have been given that lifeblood it needs to join the rest of the city. Crowds will push both sides of Church Street as a new commercial corridor.

[Empire state of mind]

I must say, I'm a bit nervous about this one. Ready to see it built.