NEW YORK | 175 Greenwich St. | 1,170' Pinnacle / 1,080' Roof | 80 FLOORS - Page 125

Fishman92 · #**2481** Posted: **Feb 24, 2012, 9:59 PM**

If he had that many tenants he'd split them between tower 3 and 2.

SoaringSkylines · #**2482** Posted: **Feb 24, 2012, 10:39 PM**

I have a question:

Why does the construction have to wait and be halted until the building receives tenants?

The building is inevitable and will be built. So why are we having to wait for someone?

gttx · #**2483** Posted: **Feb 24, 2012, 10:54 PM**

Quote:

Originally Posted by SoaringSkylines

I have a question:

Why does the construction have to wait and be halted until the building receives tenants?

The building is inevitable and will be built. So why are we having to wait for someone?

Because tenants pay rent, and rent is how developers pay back the enormous mortgage on a skyscraper. Most lenders won't agree to a mortgage without pre-leasing of a certain amount of space, especially in this market.

(Sure, it's more complicated than that, but that is the general idea with every development)

THE BIG APPLE · #**2484** Posted: **Feb 24, 2012, 11:04 PM**

^ Well the x columns are, gone (which in my opinion MADE this building), NOW you want to take away the bracing.

JayPro · #**2485** Posted: **Feb 25, 2012, 5:54 PM**

Who said anything about wanting the remaining bracing elements removed on this page...or the previous one for that matter? I thought the last several posts were focused on scoring tenants (and the potential/attendant problems with not being able to).
A trifle non sequitur of you ask me....but I suppose I'm not being asked.

NYguy · #**2486** Posted: **Feb 26, 2012, 1:37 PM**

Quote:

Originally Posted by SoaringSkylines

I have a question:

Why does the construction have to wait and be halted until the building receives tenants?

The building is inevitable and will be built. So why are we having to wait for someone?

Larry Silverstein doesn't have financing to complete the tower, and will get assistance from the City and the Port Authority if he leases a minimal 400,000 square feet. Of course, if he lands a million square feet or so, he probably won't need their assistance to obtain financing. But 400,000 sf is really not a lot given the amount of space that will be available in the building. If they build with only that amount leased, it will still be a largely speculative building, but a start.

BStyles · #**2487** Posted: **Feb 26, 2012, 4:11 PM**

Quote:

Originally Posted by Fishman92

If he had that many tenants he'd split them between tower 3 and 2.

Tenants can't be split between towers. If a tenant wants to lease space in one tower, it's their decision if they would also like to lease space in another tower, not the developer. And even if they needed more square footage, they'll just look for a larger tower.

NYguy · #**2488** Posted: **Feb 29, 2012, 3:38 PM**

ad454

mac78130 · #**2489** Posted: **Feb 29, 2012, 3:54 PM**

Silverstein touts NYC commercial market, laughs off rumors of capping 3 WTC

http://therealdeal.com/blog/2012/02/...g-3-wtc-video/

NYguy · #**2490** Posted: **Mar 1, 2012, 12:08 PM**

^ I'm with Silverstein, it'll happen at some point.

smrphotography87

NYguy · #**2491** Posted: **Mar 6, 2012, 3:20 PM**

Never realy noticed this rendeing on the Silverstein Properties website...

SoaringSkylines · #**2492** Posted: **Mar 6, 2012, 6:28 PM**

Quote:

Originally Posted by NYguy

Never realy noticed this rendeing on the Silverstein Properties website...

That is insane.. The 4 towers look really small in the pictures, but as you can see by the base, these things are MASSIVE.

I can't wait till all of this construction is done!

Ed007Toronto · #**2493** Posted: **Mar 6, 2012, 8:53 PM**

Quite the forest there.

yankeesfan1000 · #**2494** Posted: **Mar 6, 2012, 11:21 PM**

That is incredible. Great find, thanks for sharing.

NYguy · #**2495** Posted: **Mar 6, 2012, 11:53 PM**

More optimism...

http://therealdeal.com/issues_articl...estate-chiefs/

Power behind the throne: The lieutenants pulling the strings for NYC’s top real estate chiefs
Janno Lieber, Silverstein Properties (president)

March 01, 2012
By C.J. Hughes

Quote:

...And in order for some key financing to come through, Tower Three needs a big tenant to commit to a 400,000-square-foot chunk of space. Silverstein has publicly threatened to cap the structure at seven stories if it can’t get a tenant.

Lieber pointed out that this possibility was part of the 2010 deal that got the project moving again so it wasn’t a big surprise. Plus, with so many leases now turning over in the city, “we are confident of hitting that mark by 2013,” he said.

This angling for tenants comes as Brookfield, which owns the nearby World Financial Center, is on the hunt for major corporate tenants itself (see below), though Lieber said his buildings are an easier sell. Brookfield’s “buildings are great but they’re a little bit older,” he said. Other comparable projects, like Manhattan West, also from Brookfield, and Hudson Yards, from Related, will be completed long after the World Trade Center is, he added.

Dac150 · #**2496** Posted: **Mar 7, 2012, 1:41 AM**

I have a feeling something is going to surface relatively soon - no specific timetable attached to that speculation, however I have the upmost confidence in this. The price per sqft is a bit pricey in comparison to competing developments, however when you factor in how far along this project already is . . .

Something will come into play, and when it does hopefully that momentum / attention will carry over across the street.

Don098 · #**2497** Posted: **Mar 7, 2012, 3:30 PM**

It's utmost, not upmost

Judging by the maturity of those trees, I'm gonna say that rendering is circa 2030/2040? That has quickly become my favorite rendering of the whole site. Thanks for sharing it!

SoaringSkylines · #**2498** Posted: **Mar 7, 2012, 3:36 PM**

"to cap the structure at seven stories if it can’t get a tenant."

OH MY GOD.. What does that mean!!!??

Arawooho · #**2499** Posted: **Mar 7, 2012, 8:34 PM**

Quote:

Originally Posted by SoaringSkylines

"to cap the structure at seven stories if it can’t get a tenant."

OH MY GOD.. What does that mean!!!??

Oh dear this does not look good

NYguy · #**2500** Posted: **Mar 8, 2012, 2:21 AM**

Quote:

Originally Posted by SoaringSkylines

"to cap the structure at seven stories if it can’t get a tenant."

OH MY GOD.. What does that mean!!!??

It means exactly what it has meant since it was first announced a couple of years ago.