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

[TechTalkGuy]

Perhaps NYguy can play the role of cupid and hook these 10 brokerage firms to Larry Silverstein A.S.A.P.

[NYguy]

Originally Posted by fish

Perhaps NYguy can play the role of cupid and hook these 10 brokerage firms to Larry Silverstein A.S.A.P.

I say put Silverstein and Stephen Ross in a ring, and let the victor decide who gets the big tenants...but seriously, each of those mega developments only need a slice of those big tenants to get underway.

[The Grand Architect]

A few of my renderings I made recently in Autodesk 3DS Max and Kerkythea:





Check out my DeviantArt portfolio for more renderings and YouTube animations, such as this one I made yesterday:

http://www.youtube.com/watch?v=CMMrp20bub4

[NYguy]

http://www.downtownexpress.com/downt...of-aug-1-2012/

Construction at 3 W.T.C. proceeds, despite lack of tenants

August 1, 2012

3 World Trade Center continues to rise in the sky, even though developer Larry Silverstein has yet to secure office tenants for the building.

Construction of the tower’s steel perimeter and concrete core has reached the eighth floor, according to Bud Perrone, a spokesperson for Silverstein Properties. Perrone stressed that work at the site has not been stalled: The building’s steel perimeter will reach the seventh floor in the fall, he said, after which there will be another year’s worth of work on the interior.

However, if Silverstein doesn’t find a tenant by end of 2013, when the tower is supposed to reach the eighth floor, then the project would be temporarily halted, Perrone said.

Silverstein is 100 percent committed to building the 72-story tower as quickly as possible, according to the spokesperson. “If, during this period, Silverstein Properties is able to secure a pre-lease for 400,000 square feet, then construction will continue uninterrupted to the top,” said Perrone. “Working with our leasing agent, C.B.R.E., we are marketing the tower widely and remain optimistic that we can meet our pre-leasing targets over the year, which would assure that construction continued without interruption.”

[ThatOneGuy]

I read the title and jumped out of my chair... but then I read the rest of the article and sat back down.

[TechTalkGuy]

I believe that this tower will rise without interruption.
Yes we can !!

[NYC GUY]

So the way I understood the article they're only going to continue with the base and then the main tower when tenants are found.

[JZeig1]

Originally Posted by NYC GUY

So the way I understood the article they're only going to continue with the base and then the main tower when tenants are found.

OK! Is it me, or is it that everyday the same question pops up. I'm not trying to pick on any one person in any shape, form or fashion; but it seems as though every two, three days we're back to the same question that was answered months ago when the agreement was made. I just don't get it...
Along with the fact that my favorite building isn't being constructed, I have to listen people ask the same question, over and over and over again. I'm glad that the base (3wtc) is being constructed. At least it's not a stump - or whatever they're calling it now.

100% NY'r

[yankeesfan1000]

Once we get the election out of the way, I'm confident this will get a tenant. Didn't realize Silverstein had a full 16 months left to find a tenant, that's plenty of time.

Presidential politics delay Manhattan office leasing

August 01, 2012
By Adam Pincus

"While the Manhattan office-leasing market has been stuck in neutral all summer and has been dealing with Wall Street’s shrinking footprint, real estate professionals say it’s also suffering because of the uncertain outcome surrounding November’s presidential election.

Marc Holliday, CEO of the city’s largest office landlord SL Green Realty, told analysts late last month that Manhattan tenants are holding off on leasing decisions until voters decide whether to give President Barack Obama four more years in the White House or replace him with GOP contender Mitt Romney, the former governor of Massachusetts. That is, he said, despite growth in New York City office employment.

“Tenants seem to be taking a more cautious approach right now, and I think this will remain the case, certainly for the next several months, until we clear the election,” Holliday said.

Despite the broad sense of a stalled market, the overall Manhattan availability rate — which measures space available now or in the next 12 months — fell by 0.2 points last month to 10.3 percent in July, while the average asking rent ticked up by $0.25 per square foot to $54.95 at the same time, figures from commercial firm Cassidy Turley showed..."

[chris123678]

Originally Posted by ThatOneGuy

I read the title and jumped out of my chair... but then I read the rest of the article and sat back down.

Me to.

[TechTalkGuy]

I can't wait to see this tower rise into the skyline!
It's one of my favorites of (not just the complex), but the entire city.

[Davidsam52]

Originally Posted by NYguy

http://www.downtownexpress.com/downt...of-aug-1-2012/

Construction at 3 W.T.C. proceeds, despite lack of tenants

August 1, 2012

So there we have it. Officially nothing has changed. We get a podium until Silverstein gets a tenant; at that point we get a tower.

P.S. Off topic, but it is a shame the agreement with the PA could not have also at least have included the podium for Tower 2.

[NYguy]

This is all that matters here:

Perrone stressed that work at the site has not been stalled: The building’s steel perimeter will reach the seventh floor in the fall, he said, after which there will be another year’s worth of work on the interior.

However, if Silverstein doesn’t find a tenant by end of 2013, when the tower is supposed to reach the eighth floor, then the project would be temporarily halted, Perrone said.

One way or the other, they have to get that base built. When the tenants come, they'll come. If there's no tenant in the next year or so, they'll halt.

[Don098]

Originally Posted by NYguy

This is all that matters here:



One way or the other, they have to get that base built. When the tenants come, they'll come. If there's no tenant in the next year or so, they'll halt.

Now, the plan is to finish the base and then open it's retail to the public, correct? If Silverstein secures a tenant before the deadline, would construction continue without opening the base? If the building is capped and a no tenant has been found by the end of 2013, and then the base opens and then sometime later a tenant is finally secured, how do you build a 1,000ft+ skyscraper on top of an active pedestrian and publicly-open site? All I can think of are WTC4's accidents and I just don't understand how it's possible...

[NYguy]

Originally Posted by Don098

Now, the plan is to finish the base and then open it's retail to the public, correct? If Silverstein secures a tenant before the deadline, would construction continue without opening the base? If the building is capped and a no tenant has been found by the end of 2013, and then the base opens and then sometime later a tenant is finally secured, how do you build a 1,000ft+ skyscraper on top of an active pedestrian and publicly-open site? All I can think of are WTC4's accidents and I just don't understand how it's possible...

That's one of the reasons they want to build the entire tower now. There are questions on both sides, from Silverstein and the PA, if they could get tenants to move in knowing there is a possibility they would have to close soon. However, that wouldn't be a problem for the below grade shopping levels, though there is the question of the mandated exits.

[FMIII]

Originally Posted by NYguy

That's one of the reasons they want to build the entire tower now.

They went too far on this one. They must know that If they cap it while the Hudson Yards development starts ground, they will be in even more trouble to find a major tenant. When you spend that much money to build the foundations, the core, the first eight floors of a Tower, you must go to the top.

There is the will and the obviousness that this tower must rise now. I know that They still have to find a lot of money. Durst took a stake in T1. Another promoter might take a stake in T3 (even if it's at the cost of some design change). That's the last hope we have I am afraid.

[NYguy]

Originally Posted by FMIII

When you spend that much money to build the foundations, the core, the first eight floors of a Tower, you must go to the top.

The thing about the WTC site is that they had to get all of that infrastructure and the foundations of the towers built now because everything is interconnected. They are building the first levels of this tower because they don't want to leave too much of the site vacant, reminiscent of "ground zero". The earlier plan was to leave "stumps" for all of the towers that didn't have complete financing, but tower 2 won't go as far.

[TechTalkGuy]

They need to build fully because inflation is the enemy that is non-negotiable due to delays.

[Otie]

Originally Posted by NYguy

The thing about the WTC site is that they had to get all of that infrastructure and the foundations of the towers built now because everything is interconnected. They are building the first levels of this tower because they don't want to leave too much of the site vacant, reminiscent of "ground zero". The earlier plan was to leave "stumps" for all of the towers that didn't have complete financing, but tower 2 won't go as far.

True, Tower 3's lower mechanical levels store mechanical supports for the Hub.

[Silverfox]

I think the longer they wait for this one the harder it will be to get tenants. If they build the tower sooner rather than later, companies may find a physical, existent tower more attractive than buildings that are in proposal stages. I would say that if they want towers 2 and 3 to be leased, they should have them built before rivals get off the ground or it'll be trouble.