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

[Patapsco]

taken december 24, 2011

[The Grand Architect]

I haven't been on SSP lately- holidays keep me busy.

Here are a couple of videos that I've made but didn't have time to post them here on SSP. You might have seen them if you are subscribed to my Youtube, but for those who are not, here you go:

http://www.youtube.com/watch?v=n_8cDqXDrzA

• http://www.youtube.com/watch?v=n_8cDqXDrzA" target="_blank">Video Link
http://www.youtube.com/watch?v=TgB96rYjDOs

• http://www.youtube.com/watch?v=TgB96rYjDOs" target="_blank">Video Link
http://www.youtube.com/watch?v=DbnyhWGTuAI

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

If you haven't already, subscribe to my Youtube at www.youtube.com/CombatArmsElite

[CalibratedZeus]

DSC_0428 by calibratedzeus, on Flickr


DSC_0379 by calibratedzeus, on Flickr


DSC_0352 by calibratedzeus, on Flickr


DSC_0348 by calibratedzeus, on Flickr

[NYguy]

Nice photos.

[NYguy]

http://online.wsj.com/article/SB1000...NewsCollection

3 World Trade Center
Developer: Silverstein Properties Inc.

Outlook: Fair

The third building slated to rise at the World Trade Center site, the base of the planned 2.8 million square foot 3 World Trade Center is already under construction.

But based on a deal struck for a public-sector-financing package in 2010, construction won't continue above the first few floors of retail space until Larry Silverstein, the 80-year-old developer, finds tenants for at least 400,000 square feet.

That's going to be tough, given the other office development under way at the World Trade Center site. There's already about 5 million square feet of space being built but tenants have signed commitments for only half of that.

[NYC4Life]

^^ Being that 7 WTC is the only completed tower so far, I still consider that good news. More tenants will surely sign up as more office space is completed.

[colemonkee]

Interesting to see the concrete core rise above the steel. Not the norm for New York.

[NewYorker2009]

Originally Posted by colemonkee

Interesting to see the concrete core rise above the steel. Not the norm for New York.

Tower One did the same thing when it first started rising towards street level so this must be doing the same thing until everything hits street level.

[crewex]

On the plaza side of the building, it seems to have reached grade, but on the other side it's the floor is still clearly below grade. Is that the ground level they are working on or is there another floor before that?! How is that going to look?

[NYguy]

Originally Posted by crewex

On the plaza side of the building, it seems to have reached grade, but on the other side it's the floor is still clearly below grade. Is that the ground level they are working on or is there another floor before that?! How is that going to look?

I think mayber you're talking about the difference in elevation, which is higher on the Church Street side.

[crewex]

ahh, that actually explains it, thanks for the pic. I never noticed the concrete stairs in the background. So this is it, no more new levels. Any bets on the first beam? And is earthcam offline?!??

[NYguy]

^ The tower is to rise at least as high as what you see in the pic, those first five floors will be built. Anything after that depends on a tenant signing.


JANUARY 6, 2012

[NYguy]

truthinpassingx

[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?

[Roadcruiser1]

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?

Silverstein owns a company called Silverstein Properties. They leased the World Trade Center for 99 years from the Port Authority back in July 2001. So even if Silverstein dies the land would still be owned by his company for the next 88 years or so, and even if he does die the architects and the engineers to the current buildings are still alive so they will get them built.

[speedy1979]

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?

That would depend on how vigorously the executor of his estate fights to complete it.

[THE BIG APPLE]

Larry only has his wife who is really close in the company. What the hell does an architect and engineer have to do to complete a building. Architects design the building for someone, engineers make the building stable in all the categories.

[Brian Dino Vabec]

If he has a company than he has someone who will step on his spot when he's gone..It's a company, a team, not Larry alone..

[NYguy]

Originally Posted by THE BIG APPLE

Larry only has his wife who is really close in the company.

Not true. His son and daughter is involved with the company, (she's the force currently behind 30 Park). Anyway, Silvertein has been close to naming a succesor
http://www.observer.com/2011/12/silv...-announcement/

In the strongest sign yet that 80-year-old Silverstein Properties chief executive Larry Silverstein is seriously considering a succession plan, a former president of Artisan Real Estate Ventures has been tapped as the World Trade Center owner’s co-chief executive, it was announced last week.

Martin Burger, who previously served as president and chief executive of Artisan Real Estate Ventures before joining Silverstein Properties in 2010, will now spearhead new ventures in China, Eastern Europe and Florida, where most recently he led an effort to secure financing for the Four Seasons Resort Orlando at Walt Disney World Resort.

Mr. Silverstein, meanwhile, will continue to oversee the historic redevelopment of the World Trade Center along with World Trade Center Properties president Janno Lieber. Mr. Lieber manages all aspects of the effort to rebuild at the World Trade Center site.

http://www.downtownexpress.com/?p=5563

So, why did Larry appoint a co-C.E.O.? Is he starting to scale back his work schedule?

No: Larry is working his tail off. He’s [still] very, very present, he’s just taking a very responsible approach to planning for the future of the company, which recently doubled its staff, let stand growing geographically and in its breadth of projects. If you’re going to continue to grow and expand, you need to raise more capital as well. That was something that Larry always did personally, and now he’s got a great, new, young partner to help him with that.

http://www.silversteinproperties.com...-a-silverstein

Larry and Klara Silverstein have been married for more than fifty four years and have three children, two of whom are executives at Silverstein Properties. Mr. Silverstein contributes his time and resources to organizations that are dedicated to education and medical research, meeting humanitarian needs and supporting the arts. He is a classical music enthusiast, a passionate yachtsman and a dedicated New Yorker.

[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.