NEW YORK | 200 Greenwich - 2 WTC | 1,270 FT | 80 FLOORS | ON HOLD - Page 139

10023 · #**2761** Posted **Oct 16, 2013, 8:28 PM**

Quote:

Originally Posted by yankeesfan1000

I'm sure some of this feeling comes from be being an optimistic New Yorker about this tower getting built sooner rather than later, but I genuinely have a hard time believing Citi would move their HQ from Park Avenue, the premier commercial corridor in NY, to those Greenwich St buildings. The transit options are really not great down there, and while the area is getting much more expensive and upscale, there still isn't much down there. And if they were to move into 2 WTC, I'd imagine they'd sell the Greenwich St buildings which would net them a decent sum of cash.

Most of these big investment banks are really run by their traders, and the traders are already down there.

And Citi's existing building on Greenwich has probably the best location of any major bank in terms of "things to do".

Design-mind · #**2762** Posted **Oct 18, 2013, 1:39 AM**

Thanks for posting the little diagram with the square footage. I had no idea that 2 WTC had the more square footage than 1 WTC.

Roadcruiser1 · #**2763** Posted **Oct 19, 2013, 7:45 AM**

As of 10/18/2013 no visible progress is seen.

http://media-cache-ec0.pinimg.com/or...6d2c27f837.jpg

http://media-cache-ak0.pinimg.com/or...05d09d4d52.jpg

http://media-cache-ec0.pinimg.com/or...7cde8b2b42.jpg

http://media-cache-ak0.pinimg.com/or...051b82c1fb.jpg

Link to my Pininterest..........http://www.pinterest.com/roadcruiser1/boards/

baseball1992 · #**2764** Posted **Oct 19, 2013, 3:19 PM**

Quote:

Originally Posted by Roadcruiser1

As of 10/18/2013 no visible progress is seen.

....

Link to my Pininterest..........http://www.pinterest.com/roadcruiser1/boards/

Yea you can see these two pictures, one from 8/8 and the other from today, that they havn't touched 2 WTC

TowerKid · #**2765** Posted **Oct 21, 2013, 2:04 AM**

honestly tower 2 and tower 3 are dead right now what the hell is going on?

sask1982 · #**2766** Posted **Oct 21, 2013, 3:29 AM**

Sorry if i'm out of the loop, but are we expecting progress on Tower 2? Yes, i'm guessing we will see progress at some point in the (hopefully) near future, but has there been any developments that would suggest Tower 2 should be progressing?

jd3189 · #**2767** Posted **Oct 21, 2013, 4:42 AM**

Quote:

Originally Posted by TowerKid

honestly tower 2 and tower 3 are dead right now what the hell is going on?

Don't know where you've been, but Tower 3 construction will resume next year and Tower 2 is on the verge of potentially being Citi's new NY HQ.

cadiomals · #**2768** Posted **Oct 21, 2013, 5:13 AM**

Quote:

Originally Posted by sask1982

Sorry if i'm out of the loop, but are we expecting progress on Tower 2? Yes, i'm guessing we will see progress at some point in the (hopefully) near future, but has there been any developments that would suggest Tower 2 should be progressing?

If you look through the past few pages, there has been a lot of discussion regarding CitiBank possibly (possibly) choosing 2WTC to be their new HQ. But this is still speculative and far from being finalized yet. Almost all of us here hope they will. If they do, completion of this tower will happen sooner rather than later.

sask1982 · #**2769** Posted **Oct 21, 2013, 2:11 PM**

Quote:

Originally Posted by cadiomals

If you look through the past few pages, there has been a lot of discussion regarding CitiBank possibly (possibly) choosing 2WTC to be their new HQ. But this is still speculative and far from being finalized yet. Almost all of us here hope they will. If they do, completion of this tower will happen sooner rather than later.

So the answer to my question is no, in other words. Thanks!

NYguy · #**2770** Posted **Oct 21, 2013, 2:21 PM**

Quote:

Originally Posted by Roadcruiser1

As of 10/18/2013 no visible progress is seen.

Exactly what is it you were expecting to see???

Quote:

Originally Posted by sask1982

Sorry if i'm out of the loop, but are we expecting progress on Tower 2?

Construction on the tower won't resume until a tenant is signed. Only then will financing become available.

ArtDecoRevival · #**2771** Posted **Oct 22, 2013, 5:24 AM**

Quote:

Originally Posted by TowerKid

honestly tower 2 and tower 3 are dead right now what the hell is going on?

This isn't just a case of the will to build. They have to find tenants. Tower3 seems to have reached a deal with GroupM (barring any catastrophic withdrawals), but it still needs to be finalized. Building will go above the podium early next year.

Citigroup has expressed interest in Tower2, but that situation is a lot more uncertain (maybe 60-70% chance... they could choose to stay at their current location or Hudson Yards). If Citi agrees, that will also start to go up next year.

So if you're impatient, you might want to chill and check back in a year. By then both towers should be on their way, barring some terrible luck.

Roadcruiser1 · #**2772** Posted **Oct 22, 2013, 8:08 AM**

Quote:

Originally Posted by NYguy

Exactly what is it you were expecting to see???

Construction on the tower won't resume until a tenant is signed. Only then will financing become available.

I thought there would be people around there to make sure the foundation is in good condition and doing some work, but there wasn't any...........

StoOgE · #**2773** Posted **Oct 22, 2013, 2:28 PM**

Quote:

Originally Posted by Roadcruiser1

I thought there would be people around there to make sure the foundation is in good condition and doing some work, but there wasn't any...........

Why?

It's a 2 year old foundation. I'm sure Lary isn't in the habbit of paying people to walk around a non-active construction site just to "do some work".

Once they are in serious talks or have an offer letter in hand they'll start getting some engineers in place to make sure they are ready to go and map out a plan of action.

Until then, it's an inactive job site.

drumz0rz · #**2774** Posted **Oct 22, 2013, 2:28 PM**

There is no more work to be done. They've added the HVAC equipment, capped what needs to be capped, they've even cleaned the site up a bit. You won't see any activity there until a deal is finalized and construction resumes. They've buttoned the place up to where they could open the transit hub and Greenwich street without issue.

NewYorque · #**2775** Posted **Oct 22, 2013, 2:59 PM**

Honestly it is completely stupid to wait for tenants in order to resume the construction.

A building, no matter what it is, how it is or where it is, WILL ALWAYS find tenants sooner or later. Especially in New York. Especially in Manhattan, close to Wall Street.

So it would be more smart to build 2WTC and THEN it will automatically attract potential tenants.
Moreover, because this tower has been announced since 5 years so it CANNOT BE UNBUILT, why don't they do it now, as they did for 1WTC?

1WTC is also lacking tenants. It was built anyway. And now it attracts more and more.

the Twin Towers were a flop in 1973. Because of the crisis of 73, few tenants rented the floors of the Twins. However, ten years after, it was full.
in 2001, 25.000 people were working there.

StoOgE · #**2776** Posted **Oct 22, 2013, 3:28 PM**

Quote:

Originally Posted by NewYorque

Honestly it is completely stupid to wait for tenants in order to resume the construction.

A building, no matter what it is, how it is or where it is, WILL ALWAYS find tenants sooner or later. Especially in New York. Especially in Manhattan, close to Wall Street.

So it would be more smart to build 2WTC and THEN it will automatically attract potential tenants.
Moreover, because this tower has been announced since 5 years so it CANNOT BE UNBUILT, why don't they do it now, as they did for 1WTC?

1WTC is also lacking tenants. It was built anyway. And now it attracts more and more.

the Twin Towers were a flop in 1973. Because of the crisis of 73, few tenants rented the floors of the Twins. However, ten years after, it was full.
in 2001, 25.000 people were working there.

Wow, the lessons of the real estate collapse of 5 years ago are already lost?

Billion dollar speculative office projects do not happen and are a terrible idea if you want to actually keep your money. That, and good luck getting a bank to finance such a project.

NYguy · #**2777** Posted **Oct 22, 2013, 3:52 PM**

Quote:

Originally Posted by Roadcruiser1

I thought there would be people around there to make sure the foundation is in good condition and doing some work, but there wasn't any...........

That's because what they've had to put in place above ground is already there. Any active work at the site would be out of view.

Quote:

Originally Posted by NewYorque

Honestly it is completely stupid to wait for tenants in order to resume the construction.

So it would be more smart to build 2WTC and THEN it will automatically attract potential tenants.

If only your "smartness" could fork over the big bucks so Silverstein can get this thing rolling.

r18tdi · #**2778** Posted **Oct 22, 2013, 6:05 PM**

Quote:

Originally Posted by StoOgE

Billion dollar speculative office projects do not happen in the West

Fixed.

supertallchaser · #**2779** Posted **Oct 22, 2013, 7:10 PM**

Quote:

Originally Posted by r18tdi

Fixed.

i suppose but im pretty sure relateds hudson yards (although u/c) has proven things like this can happen in the west.

NYguy · #**2780** Posted **Oct 22, 2013, 11:06 PM**

Quote:

Originally Posted by supertallchaser

im pretty sure relateds hudson yards (although u/c) has proven things like this can happen in the west.

Nothing in the Hudson Yards is being built withing signing a tenant first - same as it applies here.