Quote:
Originally Posted by Rail>Auto
I see what you're saying but what I'm trying to ask is say 10,15,20 years roll around and he doesn't have a tenant. Is NYC going to allow him to have 2 construction shells sit there that long?
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It's not the City, but the Port Authority who has the say here. Silverstein is leasing that land from the Port Authority, so he's going to want to have something to show for it sooner rather than later. Otherwise, it's like throwing money away.
However, unlike tower 3, this tower will have to rely completely on private financing. Silverstein will have to lease a pretty good chunk of the space before he can get financing.