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

[NYonward]

The UBS news is huge. For a company of that size to move and want to be in NYC so their clients and employees are closer says great things for midtown and downtown's long-term commercial RE viability. Goldman, as mentioned in the article had built the tower in Jersey City and threatened to move, but never really migrated the majority of the company. I hope it works out for a tower 3 lease deal.

[Kanto]

Originally Posted by tonyo

The UBS news is huge. For a company of that size to move and want to be in NYC so their clients and employees are closer says great things for midtown and downtown's long-term commercial RE viability. Goldman, as mentioned in the article had built the tower in Jersey City and threatened to move, but never really migrated the majority of the company. I hope it works out for a tower 3 lease deal.

I agree with you. To have major companies move into the WTC towers is the way to quickly build all the towers. I can imagine that after 9/11, getting the first tenants is the hardest task. Once there are some tenants (and I mean private tenants, not government employees) the fear and reluctancy of other companies, possibly interested in the WTC, will fade away and a true renting spree can begin

[The Grand Architect]

Originally Posted by animatedmartian

On the construction side of things it looks like they've

• Started on the second floor (or B3?)
• Started putting the second crane together
• More concrete obviously.

http://evsdatacenter.netfirms.com/kpitv/silver.htm

Fingers crossed for tenants.

They are actually starting the first subfloor. (The decking on the upper right of the picture). Yes, they are setting up the second crane. LOTS more concrete, indeed.

[Patapsco]

Taken June 9, 2011 One Liberty Place 30th floor (standing on chair looking down)

[THE BIG APPLE]

CNBC

UBS may move U.S. investment bank to New York City

NEW YORK (Reuters) - UBS AG <UBS.N> <UBSN.VX> is looking at least four potential sites in Manhattan as it considers relocating its North American investment banking headquarters into the heart of New York City from suburban Connecticut, sources familiar with the bank's plans told Reuters.

A potential move by the Swiss bank could be a shot in the arm for New York's economy and would underscore the city's status as the world's key financial center.

A source familiar with the matter told Reuters earlier on Thursday that the bank was considering moving to Manhattan from Stamford, a sea-side town in neighboring Connecticut, although any potential move would not occur until 2015.

"I've been saying for the last 10 years: there is a reason to come to New York," New York City Mayor Michael Bloomberg told a local audience on Thursday.

"I'm not knocking Stamford or any other place, but the competitive proposition in New York ... is that this is the intellectual capital of the world. This is where young people in particular, but also people even my age, want to come," he said.

Connecticut and New York City, both eager for the Swiss banks' tax revenue, could start a bidding war for it. UBS' highly paid bankers and traders are also desirable because their work and spending creates jobs in other sectors.

UBS is considering locations in downtown and midtown -- or it may decide to stay in Stamford, knowledgeable sources said.

UBS is looking for 1 million square feet of space, the size of a large office tower. It has hired real estate services company CB Richard Ellis Group Inc <CBG.N> to find space.

POSSIBLE BIDDING WAR.....................

[Fishman92]

Dude we know, that's what the past 2 pages of posts have been about. It's great news yes, but stop posting old news everywhere.

[The Grand Architect]

Originally Posted by Fishman92

Dude we know, that's what the past 2 pages of posts have been about. It's great news yes, but stop posting old news everywhere.

Give him a break, he seems to be new here (or returning from a long break).

[NYonward]

^ and it's an article that hasn't been posted. From every different source there's always different commentary and insight.

[THE BIG APPLE]

Originally Posted by Fishman92

Dude we know, that's what the past 2 pages of posts have been about. It's great news yes, but stop posting old news everywhere.

I don't think it's a bad thing to keep a constant eye on something potentially big that cound have an end result of this building being built.

[cityenthusiast]

I agree leave the big apple alone he's just trying to post good information that could potentially anchor one of these towers

[RobertWalpole]

http://www.nytimes.com/2011/06/10/ny...s.html?_r=1&hp

In Connecticut, Pondering the Loss of a Big EmployerBy ELIZABETH MAKER
Published: June 9, 2011

STAMFORD, Conn. — Dino Sakakini, owner of a restaurant here called Layla’s Falafel, surveyed the dinner crowd on Wednesday night and sighed. Many of his patrons were still wearing security badges from the nearby headquarters of UBS, the Swiss banking giant, and Mr. Sakakini was contemplating what might happen to his business if, as now seems quite likely, UBS moves its sprawling trading floor to Manhattan....

[yankeesfan1000]

Thanks for the article Big Apple. The one you posted said that UBS is looking at at least four sites here in Manhattan. You would have to think they would be looking at 15 Penn and the Hudson Yards as well, and if they do take the 800,000-1M square feet as has been mentioned that'll be plenty to get any of these towers built.

Great news, great news.

[Don098]

Approximately how many people does 800,000 to 1,000,000 square feet actually represent?

[STR]

^Depends. With a trading desk, a single employee might have 80 or so square feet to himself. If you have a bunch of executives, you might have an average of 1,000 sqft per person.

[meh_cd]

The pictures I've seen from Cantor Fitzgerald in the original Tower 1 show the people squeezed together almost shoulder to shoulder.

No idea if that is what UBS is like, but it didn't look like you had much space to yourself.

[JayPro]

@Robert;

Seems to me that Stamford doth protest too much. Compared to its neighboring cities in CT, they've had it really good. Now this chap from UBS is making it sound as if Stamford's just plain had it.
Don't get me wrong...I'm not a fan of seeing any city's major employer go elsewhere to find a base of operations, if only out of consideration of the toll that will be exacted from real people facing real economic hardship.

But this is hardly a case of a firmly-established, fair-sized city going belly-up overnight. Just as Pittsburgh, for instance, has been slowly trading coal miner's equipment for high-powered electron microscopes, Stamford should be able to attract job types that will inevitably be needed to replace what Downtown NYC and the West Side are poised to receive...and need just as much.

I just can't see Stamford's economy withering on the vine with this. White Plains and New Rochelle, NYC's shining satellite cities, have but recently escaped the Big Apple's shadow. So then Stamford-given its perception as a thriving standalone mid-size city for quite some time--can find ways to recoup from losses that officials there at least have had the good sense to foresee.

[UrbanImpact]

http://graphics8.nytimes.com/images/...9ubs-popup.jpg

A picture of the world's largest trading floor currently in Stanford.

[JayPro]

Originally Posted by UrbanImpact

http://graphics8.nytimes.com/images/...9ubs-popup.jpg

A picture of the world's largest trading floor currently in Stanford.

Ew ick......

Thank you for the perspective. On second thought, UBS's move actually *does* paint a grim picture. I truly hope city officials haven't put all their eggs in one basket.

This is NYC's gain; but at what price for my neighbors across the Sound?

[antinimby]

^ Human warehouse.

[599GTO]

I hope they go with Tower 2 instead.