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  #4741  
Old Posted Apr 5, 2018, 11:37 PM
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Originally Posted by Eidolon View Post
http://www.gabellinisheppard.com/arc...e-center-plaza

Temporary Plaza to be built on the site. I hate seeing this one getting delayed constantly and I don't know if the WTC site will be fully complete by even 2026.
I doubt this is something Silverstein has planned, already looks dated. But it would be nice if they had something in place so it wouldn't look like a permanent construction zone
unless something was actually going up. But we've had temporary spaces at this WTC before.








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  #4742  
Old Posted Apr 18, 2018, 4:28 PM
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Silverstein should have made this happen.


https://nypost.com/2018/04/17/abc-sh...ding-downtown/

ABC shopping for new building downtown


By Lois Weiss
April 17, 2018


Quote:
It looks like Kelly and Ryan could soon be broadcasting from Hudson Square — or another new Manhattan site.

Disney-owned ABC is seeking to cut a deal to move its longtime Midtown digs to a new building — and one of the prospective sites is on Trinity Church property at 4 Hudson Square, sources said.

The site bounded by Hudson, Varick, Vandam and Spring streets now includes 304 Hudson — a circa-1898, U-shaped office building on the western end.

Under a 2013 zoning scheme, the eight-story No. 304, with 300,000 square feet, could be enlarged by adding stories, and the remainder of the block turned into housing.

The site can hold up to around 1.2 million square feet, sources said, and when The Mouse wants a new house, everyone listens.

“They are looking at that property site and others with the criteria that it’s the best building to meet their 21st- century technology needs,” said a Disney spokesman.

Meanwhile, Disney has tentatively agreed to sell Silverstein Properties several Lincoln Square buildings, including its HQ and a few ABC studios around Columbus Avenue and West 66th Street for more than $1 billion.
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  #4743  
Old Posted Apr 18, 2018, 4:35 PM
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I thought the same thing. Not to mention, one of the big NY lawfirms just leased around 600,000 sf in Midtown.

Larry needs to go.
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  #4744  
Old Posted Apr 18, 2018, 4:43 PM
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I thought the same thing. Not to mention, one of the big NY lawfirms just leased around 600,000 sf in Midtown.

Larry needs to go.

Larry going is not going to make someone lease this building. No one was complaining when 7 WTC got built and leased. Same thing for towers 3 and 4. And it took a couple of decades for the original complex to fill up, and it wasn't the site of 2 110-story buildings collapsing back then. I think you should be praising Silverstein for pushing to get that office space rebuilt back on site at a time when emotions and many people were calling for the entire thing to be a memorial.
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  #4745  
Old Posted Apr 18, 2018, 5:23 PM
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Originally Posted by NYguy View Post
Larry going is not going to make someone lease this building. No one was complaining when 7 WTC got built and leased. Same thing for towers 3 and 4. And it took a couple of decades for the original complex to fill up, and it wasn't the site of 2 110-story buildings collapsing back then. I think you should be praising Silverstein for pushing to get that office space rebuilt back on site at a time when emotions and many people were calling for the entire thing to be a memorial.
Larry is doing a very poor job at marketing this tower. I worked downtown for 20 years and loved it, as did most of my colleagues, and we all commuted from GCT. FiDi is not the problem. There's some problem with Silverstein, and it’s the same problem that Moinian has at 3 HY.
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Last edited by JMKeynes; Apr 18, 2018 at 5:54 PM.
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  #4746  
Old Posted Apr 19, 2018, 3:58 AM
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Originally Posted by JMKeynes View Post
Larry is doing a very poor job at marketing this tower. I worked downtown for 20 years and loved it, as did most of my colleagues, and we all commuted from GCT. FiDi is not the problem. There's some problem with Silverstein, and it’s the same problem that Moinian has at 3 HY.
Larry could market this tower out of his ass, and that won't force a potential tenant to take it if it doesn't fit particularly what they are looking for, and where they are looking for it. (There is more to leasing space than just taking space). And I don't care how many years you've worked Downtown. That man probably knows more about leasing and real estate than you know about practically anything. There's a reason he's been as successful as he has for all these years.
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  #4747  
Old Posted Apr 19, 2018, 4:38 AM
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With interest rates as low as they've been and demand for office space high everywhere else, prospects for this project look to be in bad shape. I think WTC vacancy rates are still pretty high, too. I'm starting to expect a scaled-down property on this site, unfortunately.
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  #4748  
Old Posted Apr 19, 2018, 4:50 AM
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With interest rates as low as they've been and demand for office space high everywhere else, prospects for this project look to be in bad shape. I think WTC vacancy rates are still pretty high, too. I'm starting to expect a scaled-down property on this site, unfortunately.
Tower 4 is full, there is some space in the Freedom Tower. Tower 3 is about to come online, it's not unusual for a new skyscraper of that size to have some vacancy.

Tower 2 needs a signature tenant. I think it would be foolish to expect a scaled-down property. For one thing, this is the last large scale location for an office tower in the financial district (the tower 5 site is for a smaller tower), and they aren't going to build a smaller tower here for the sake of getting something built. This tower will be built to market demand, something they learned from the original construction. The other towers will fill up, and again, this will be the only location for new, large scale construction Downtown. There will always be demand for new office construction Downtown, you just have to wait for it. Just ask yourself this, how often does Downtown get the amount of new office space it has gotten with the rebuilt WTC so far?
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  #4749  
Old Posted Apr 19, 2018, 6:21 AM
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I want to be relieved by the excellence of this tower, . .
not impressed by how quickly they finish the whole thing . .
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  #4750  
Old Posted Apr 21, 2018, 12:50 PM
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I'm glad they are building a plaza in the interim. The corner of Vesey and Church is dangerous for pedestrians with the construction area roped off. I see cars flying up Church so it will at least be nice to have the street level back.

I would also wonder why they could not build a temporary roof bar on top of the current 2WTC stub for the summer, probably too much red tape.
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  #4751  
Old Posted Apr 21, 2018, 5:30 PM
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Originally Posted by NYguy View Post
Tower 4 is full, there is some space in the Freedom Tower. Tower 3 is about to come online, it's not unusual for a new skyscraper of that size to have some vacancy.
Quote:
Just ask yourself this, how often does Downtown get the amount of new office space it has gotten with the rebuilt WTC so far?
I know it's been a lot as of late. And you've got a much better pulse of the NYC market than I do (though I've been watching it for some 20 years now as I think you have too). I really hope you're right.

My worry is that the investors get anxious about the time value of their investment, and go cheap to make some income sooner rather than later. On the other hand, capping the property with the plaza does send a good signal that they're willing to wait until there's an anchor. But we're nearing the end of this economic cycle and we need to be prepared for that.
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  #4752  
Old Posted Apr 22, 2018, 2:23 AM
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Deutsche Bank is the best bet for this one to take off. Their current location works in favor … I can also see them making due with 60 Wall.
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  #4753  
Old Posted Apr 25, 2018, 12:41 AM
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This whole site is as muddled down and crooked as Silverstein's insurance policy prior to 9/11...
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  #4754  
Old Posted Apr 26, 2018, 1:19 PM
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Originally Posted by Dac150 View Post
Deutsche Bank is the best bet for this one to take off. Their current location works in favor … I can also see them making due with 60 Wall.
Uncertain regarding move. DB is scaling back U.S. (NYC) operations and may even need less office space than they currently hold. https://www.wsj.com/articles/deutsch...aul-1524722557
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  #4755  
Old Posted Apr 27, 2018, 1:47 PM
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Originally Posted by Alex_Ski View Post
Uncertain regarding move. DB is scaling back U.S. (NYC) operations and may even need less office space than they currently hold. https://www.wsj.com/articles/deutsch...aul-1524722557
On the back of this, while I highly doubt DB moves here, not all hope is lost :

"...Sewing faces some tough decisions that will chart the future of the bank, including what to do with its headquarters here in New York City. Deutsche Bank is currently headquartered Downtown at 60 Wall Street, and has been looking for a new office that could be as big as 1.3 million square feet.

Potential new homes include Two World Trade Center, 50 Hudson Yards and the Time Warner Center. The bank could also decide to renew and stay put."
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  #4756  
Old Posted Apr 27, 2018, 11:54 PM
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Originally Posted by Alex_Ski View Post
Uncertain regarding move. DB is scaling back U.S. (NYC) operations and may even need less office space than they currently hold. https://www.wsj.com/articles/deutsch...aul-1524722557
Sure the repositioning will implicate headcount, though DB is still a global firm that will require a presence in New York. My guess is that they'll either stay put or move to 200 Greenwich.
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  #4757  
Old Posted May 5, 2018, 1:01 AM
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This tower isn't happening anytime soon...

Deutsche Bank Joins Wall Street Exodus for View of Central Park https://www.google.com/amp/s/www.blo...eet-to-midtown
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  #4758  
Old Posted May 5, 2018, 1:06 AM
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Never to late for residential functionality or modifying it to include more of a mixed-used functionality. Might help the odds tremendously.
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  #4759  
Old Posted May 5, 2018, 1:17 AM
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Larry might very well have no choice here coz the well of potential big-time corporate anchor tenants is running dangerously dry.
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  #4760  
Old Posted May 5, 2018, 1:33 AM
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Competition from the Hudson Yards?
The problem with the WTC is too much success.
I can’t even keep up with all of New York’s new skyscraper growth.
I admit that a smaller city is more attractive.

Good Luck with completing the World Trade Center.
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