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Old September 26th, 2011, 12:26 PM   #2301
droneriot
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Wow, it has grown four floors since the last time somebody asked about the setback? That's astonishingly fast.
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Old September 26th, 2011, 12:44 PM   #2302
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True, it has grown 4 floors in about 2 weeks..I hope they keep this speed..
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Old September 26th, 2011, 02:13 PM   #2303
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Sunset on 4 WTC by Tanenhaus, on Flickr
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Old September 26th, 2011, 03:51 PM   #2304
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Quote:
Originally Posted by DinoVabec View Post
True, it has grown 4 floors in about 2 weeks..I hope they keep this speed..
That sounds great!
And I hope too. If they keep this speed, not just the One WTC is the most giant building there.
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Old September 26th, 2011, 04:41 PM   #2305
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Zuccotti Park and Four WTC (P1260984) by michael.2999.pics on Flickr
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Old September 26th, 2011, 05:45 PM   #2306
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Looking great shot!!


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Old September 27th, 2011, 12:41 AM   #2307
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Got myself a 2x teleconverter, so I'll be able to get more closeups in the future.
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Old September 27th, 2011, 03:49 AM   #2308
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^Awesome!
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Old September 27th, 2011, 12:02 PM   #2309
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Well well..

Quote:
Wall Street Journal
September 22, 2011

Port Authority Plans WTC Bond Change

By ELIOT BROWN


The dispute had threatened to halt construction of 4 World Trade.

In a move to avert a work stoppage on a new World Trade Center office tower, the Port Authority of New York and New Jersey is planning to back down in a monthslong financial dispute with its bond investors, people familiar with the agency's plans said.

Port Authority officials intend to restructure a planned financing package for 4 World Trade Center in order to address the concerns of existing Port Authority bondholders who blocked the $1.37 billion effort in the spring, the people said.

The new structure will likely cost tens of millions of dollars more than the previous one, although municipal bond rates have improved significantly since April, when the bonds were initially slated for a sale.

The change in structure is still in early stages. It needs approval from the agency's board, it hasn't yet been presented to ratings agencies, and the bond investors who were holding up the sale have yet to be informed of a final decision. A Port Authority spokesman declined to comment.

The new bond sale, if it proceeds, would remove a major potential obstacle at the World Trade Center site, where 4 World Trade Center and the 104-story One World Trade Center are rising.

Since April, the fight had threatened to halt construction of 4 World Trade, a 72-story tower being built by developer Larry Silverstein. Mr. Silverstein needs to sell more than $1.3 billion in tax-free bonds to finish construction on the building, now 51 stories up.

Without a bond sale, he stood to run out of money for the tower later this year, a person familiar with the matter said.

The Port Authority is guaranteeing the bond payments for 4 World Trade, meaning the agency would be responsible for repayment if the tower struggles financially and Mr. Silverstein defaults.

The bondholders who were blocking the sale complained that, under the old structure, debt service on the 4 World Trade bonds would have taken priority over their so-called general obligation bonds, eroding their value. That violated bond documents, they said, a point the Port Authority contested. The bondholder group included Fidelity Investments.

Now, the Port Authority plans to restructure the deal and give holders of the general debt priority over the World Trade Center bonds.

The move marks a reversal for the Port Authority, which for months had tried to convince the investors that the bond structure was legal.

The agency sought the assistance of others and asked the Bloomberg administration to help lean on the bondholders, people familiar with discussions said. The administration demurred, believing that a political lobbying effort was unlikely to succeed, the people said.

As recently as late August, Port Authority director Christopher Ward suggested the bondholders were misguided. He was quoted by Reuters as saying: "We think Fidelity misunderstood the fundamental structure and are fully prepared to adjust to their potential concerns."

A Port Authority spokesman declined to explain Mr. Ward's comments.

Should the bond sale indeed go ahead without objections from the investors, it would likely occur no earlier than mid-October, a person familiar with the matter said.

Mr. Silverstein also has the rights to develop two other towers, both of which depend on him finding tenants and some private financing.

Copyright ©2011 Dow Jones & Company, Inc. All Rights Reserved.
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Old September 27th, 2011, 12:26 PM   #2310
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WTC 4 by Pablo PEN on Flickr
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Old September 27th, 2011, 01:05 PM   #2311
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I can see very nice reflections there!
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Old September 27th, 2011, 06:20 PM   #2312
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I shall eat my hat for trash-talking the glass a few months ago. Once I saw it in person, it changed everything.

It's just so shiny in person. Hard to describe.
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Old September 28th, 2011, 03:26 PM   #2313
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Beautiful reflections
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Old September 28th, 2011, 03:31 PM   #2314
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These last shots are beautiful....exceptional lighting...the glass is just...orgasmic...
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Old September 28th, 2011, 09:13 PM   #2315
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And now think, how it's going to look, when it's ready.
Really awesome
On my next trip to NY, I have to visit this buildings
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Old September 28th, 2011, 09:23 PM   #2316
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September 26th..


http://wirednewyork.com/forum/showth...=9207&page=112


http://wirednewyork.com/forum/showth...=9207&page=112


http://wirednewyork.com/forum/showth...=9207&page=112


http://wirednewyork.com/forum/showth...=9207&page=112


http://wirednewyork.com/forum/showth...=9207&page=112


http://wirednewyork.com/forum/showth...=9207&page=112
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Old September 28th, 2011, 09:23 PM   #2317
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I still can't get a feel for this. I like the glass, but I don't know how it fits in with the other buildings (of the WTC). That's gonna take awhile. The building itself is awesome, even in its simplicity, but the glass just doesn't feel right in that environment yet.... Just my opinion.
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Old September 28th, 2011, 09:29 PM   #2318
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I know, I've already asked, but what's its hight at the moment?
And the glass, I find, it looks awesome...
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Old September 28th, 2011, 09:30 PM   #2319
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Dino, what are those "lines" on the side of the Tower? I think they're for ventilation, but I'm not sure...
It seems like all of the new WTC buildings will have a set...
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Old September 28th, 2011, 10:50 PM   #2320
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Quote:
Originally Posted by Matsky View Post
I know, I've already asked, but what's its hight at the moment?
And the glass, I find, it looks awesome...
About 600 feet.
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