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Old April 6th, 2013, 01:53 AM   #2461
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Has it taken you all three weeks to realize that?
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Old April 6th, 2013, 02:15 AM   #2462
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The crane has been inactive for months and that won't change until a tenant is found. Things has been looking pretty good these last couple of weeks for 3 WTC. We just have to wait......
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Old April 6th, 2013, 12:49 PM   #2463
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True. We'll know soon enough.
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Old April 7th, 2013, 02:16 AM   #2464
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I noticed a few days ago they set concrete on the north and east side of the top floor, maybe this is the start of progress picking up?
I wish!
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Old April 7th, 2013, 02:56 AM   #2465
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I noticed a few days ago they set concrete on the north and east side of the top floor, maybe this is the start of progress picking up?
I wish!
If you look in the core, it looks like the elevator shafts have been capped off by those slanted black coverings! (or are those just temporary?)
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Old April 7th, 2013, 03:04 AM   #2466
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Quote:
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I noticed a few days ago they set concrete on the north and east side of the top floor, maybe this is the start of progress picking up?
I wish!
Things aren't picking up. Rather I think they're drawing to a close. Unless we see some curtain wall installation I don't think there will be much further visible progress on the stump for the foreseeable future.

The good news is there is still lots of visible progress throughout the WTC site. And more will be coming as the rest of the year goes by with Towers 1 and 4, the plaza, and the steel erection of the Transportation Hub finishing. With all that progress, it's hard not to see Silverstein signing an anchor tenant for 3WTC.
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Old April 10th, 2013, 04:29 AM   #2467
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[QUOTE=1Filipe1;101725841]someone on ssp said


i wont believe it until an official source says it but just putting this out there cause you never know [/QUOTE the crane hasnt moved in a month and a half and no new steel is going up but I heard about the anchor tenant
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Old April 10th, 2013, 01:50 PM   #2468
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.. With all that progress, it's hard not to see Silverstein signing an anchor tenant for 3WTC.
Which is what it all comes down to. I agree that it looks like they are preparing this for a stop.
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Old April 10th, 2013, 11:25 PM   #2469
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My theory is that once tower #1 and #4, the transportation hub, vehicle security center and the memorial are open for business, finding tenants will no longer be a problem. They will be clamoring over themselves to locate at the WTC.

While multi-million dollar deals shouldn't be dependent on something transitory like the construction-site ambiance of the WTC complex, it is still a massive hurdle to overcome. Once the ground level work is done and people are constantly milling around the glittering new complex, it will suddenly be the place to be, a thriving world class site with a truly amazing subway station and modern office facilities.

Granted, construction will continue on the remaining towers, but much of the public space will be finished and hopefully providing a welcoming experience for workers and tourists alike. The news is going to go crazy with story after story on the complex once it reaches that degree of completion. There will be a palpable buzz about the rebirth of the WTC and a new era beginning in NYC. Rightly or wrongly, stories about the construction boom will likely always start with a segment on the WTC complex.
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Old April 11th, 2013, 05:09 AM   #2470
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is there a dead line they have to find a tenant by before its cancelled?
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Old April 11th, 2013, 05:22 AM   #2471
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If they don't find a tenant by the end of the year Silverstein is going to have to cap the tower until a tenant is found and use the podium section as retail space.
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Old April 11th, 2013, 05:31 AM   #2472
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Quote:
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is there a dead line they have to find a tenant by before its put on hold?
Corrected.
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Old April 11th, 2013, 09:06 AM   #2473
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Quote:
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is there a dead line they have to find a tenant by before its cancelled?
Originally it was set for November 2013 or twelve months ahead of the finishing date for the Transportaton Hub. Given the effects of Hurrican Sandy, Hub completion has been pushed back. Otie stated in the Hub thread that completion has been pushed all the way back to Decemeber 2015. So conceivably, the mandatory capping should be December 2014.

But I would wait for something officially announced by the PA and Silverstein. Neither party wants to see this building capped. We have all summer and fall of this year for Silverstein to secure a tenant, and possibly all of 2014 as well.
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Old April 11th, 2013, 01:41 PM   #2474
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Quote:
Originally Posted by dfiler View Post
My theory is that once tower #1 and #4, the transportation hub, vehicle security center and the memorial are open for business, finding tenants will no longer be a problem. They will be clamoring over themselves to locate at the WTC.

While multi-million dollar deals shouldn't be dependent on something transitory like the construction-site ambiance of the WTC complex, it is still a massive hurdle to overcome. Once the ground level work is done and people are constantly milling around the glittering new complex, it will suddenly be the place to be, a thriving world class site with a truly amazing subway station and modern office facilities.

Granted, construction will continue on the remaining towers, but much of the public space will be finished and hopefully providing a welcoming experience for workers and tourists alike. The news is going to go crazy with story after story on the complex once it reaches that degree of completion. There will be a palpable buzz about the rebirth of the WTC and a new era beginning in NYC. Rightly or wrongly, stories about the construction boom will likely always start with a segment on the WTC complex.

I agree that completion of the transportation hub, vehicle security center and the memorial will help, but there is also a significant (lease)price difference between this site and the Hudson Yards. I hope you're right though.
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Old April 11th, 2013, 02:21 PM   #2475
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Hopefully Larry will decide to reduce the cost for anchor tenants for towers 2 and 3. Only if he drops costs can he compete with the dropped costs at the Hudson Yards.
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Old April 11th, 2013, 02:35 PM   #2476
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The HY's North Tower has space only for 2 or 3 main tenants, and many more than that seek large blocks. Nonetheless, Larry will be competing with a lot of other new projects. The proposed new towers around GCT are the most prime due to their location. Therefore, Larry should drop his prices to be competitive. The WTC is a symbol of NYC, and therefore, Silverstein should not look to make money there.
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Old April 11th, 2013, 05:11 PM   #2477
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Quote:
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Hopefully Larry will decide to reduce the cost for anchor tenants for towers 2 and 3. Only if he drops costs can he compete with the dropped costs at the Hudson Yards.
He can only reduce so much before he can't cover his own costs. 3WTC need only lease 400k sq ft at $60 to resume construction, comparable to HY. 7WTC leased at rates around $70 a sq ft. Hardly outrageous. But that's still high for Lower Manhattan compared to Midtown where rates can go for $100+.

IMO, the real difference between 3WTC and HY or anyone else securing anchor tenants is the fact the WTC site has been hit twice by terrorists. To me, that is what is keeping tenants wary of leasing there.

But even that's a stretch considering 7WTC fully leased up.

* Also, if Silverstein lowered rates further it would just depress the overall market. Nearby buildings would also be forced to cut their lease rates as well. It would be a repeat of when the Twin Towers were built and the PA was forced to cut rates significantly and hurt the commercial market.
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Last edited by spectre000; April 11th, 2013 at 05:45 PM. Reason: additional comment
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Old April 13th, 2013, 11:38 PM   #2478
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Quote:
Originally Posted by PMadFlyer View Post
A massive video screen used to be in the lobby facing the memorial but it is now a blank wall.
This one?

[IMG]http://i48.************/2586ski.jpg[/IMG]
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Old April 14th, 2013, 02:04 PM   #2479
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Why the topic is U/C? The tower is ON HOLD for a long time......
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Old April 14th, 2013, 02:06 PM   #2480
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Why the topic is U/C? The tower is ON HOLD for a long time......
Not exactly. It isn't growing but there is still internal work in the podium being done. As long as there is construction activity it is u/c
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