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Old July 26th, 2012, 12:16 AM   #1801
chris123678
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Here's an interesting article.
Reuters) - The New York Liberty Development Corp will sell about $1.65 billion of new and refunding multi-modal recovery zone revenue bonds the week of July 30, said a market source on Wednesday.
The sale includes about $338 million of new bonds and about $1.2 billion of refunding bonds, both for the 3 World Trade Center Project, according to the preliminary official statement.
The sale will also include about $113 million of refunding bonds for the 3 World Trade Center Project-Towers 3 and 4, according to the POS.
Goldman Sachs & Co is the lead manager on the sale.

http://in.reuters.com/article/2012/0...8IP7YC20120725
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Old July 26th, 2012, 12:57 AM   #1802
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So, what does this mean? Is this an alternate financing plan for 3WTC? Right now there's an article in the Wall Street Journal suggesting construction on 3WTC will stop at the 8th floor.
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Old July 26th, 2012, 01:54 AM   #1803
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So, what does this mean? Is this an alternate financing plan for 3WTC? Right now there's an article in the Wall Street Journal suggesting construction on 3WTC will stop at the 8th floor.
No. Only the $338 million is in new bonds. The $1.2 billion is in refunded bonds. They're likely refinancing for a better interest rate. Note the article states it's only $113 million for 3WTC. It was probably originally issued to help cover the cost of the below grade work and podium.
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Old July 26th, 2012, 03:16 AM   #1804
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Isn't blind optimism fun? Perhaps - but I have to agree with the folks urging people to rely on facts and actual news. (Rather than a gut feeling.)
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Old July 26th, 2012, 03:28 AM   #1805
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man if theyr having trouble finding tenants for tower 3, then they will never find tenants for tower 2
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Old July 26th, 2012, 03:29 AM   #1806
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man if theyr having trouble finding tenants for tower 3, then they will never find tenants for tower 2
That's ridiculous.
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Old July 26th, 2012, 10:42 AM   #1807
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Old July 26th, 2012, 08:47 PM   #1808
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is it On-hold projects? I saw Newspaper about 2,3WTC recently.it is rised to 8 floor. and no progress. is it True?
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Old July 26th, 2012, 11:13 PM   #1809
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one page up this thread is the answer. it is not on hold yet.

Quote:
Originally Posted by spectre000 View Post
New Hitch In Ground Zero Plans: No Takers

By ELIOT BROWN

For years, rebuilding of the World Trade Center site was held up by construction delays and fights between government agencies, insurers and a developer.

Now the problem is a lack of tenants.

While two office buildings are well underway at Ground Zero, construction of a third tower, 3 World Trade Center, is stalled at eight stories, well shy of the 80 floors planned. The reason: its developer, Silverstein Properties Inc, the company run by Larry Silverstein, hasn't been able to find a tenant, and he can't build any higher without one, based on a two-year-old deal with government agencies.

When Mr. Silverstein started construction in mid-2010 on the building, then-expected to have 2.5 million square feet of space, he had hoped he would be able to find a tenant by now and keep building to the tower's top. But cement stopped pouring at the 8th floor in the past few weeks..."

"...Mr. Silverstein hopes he can resume the upward momentum on 3 World Trade Center soon. His neighboring tower at the site, 4 World Trade Center, is due for completion by late 2013 and is about half-leased by government agencies. The signature tower on the site, One World Trade Center, which is being built by the Port Authority of New York and New Jersey, is 55% leased, mostly to publisher Condé Nast. Once called the Freedom Tower, it is due for completion in early 2014..."

"...So far in 2012, 40% of Manhattan leases tracked by real-estate brokerage firm Cushman & Wakefield Inc. have been renewals of existing space, more than double the proportion in 2007.

To be sure, large companies such as Time Warner Inc. are searching for Manhattan space, and many companies prefer new towers to old, which could put 3 World Trade and the other towers at the site well-positioned once the economy improves and companies are ready to move.

Mr. Silverstein is confident he will eventually line up enough tenants to resume building. "We are 100% committed to building 3 World Trade Center to the top as quickly as possible," said Janno Lieber, Mr. Silverstein's deputy who oversees the World Trade Center development. "We are marketing the tower widely and remain optimistic that we can meet our preleasing targets over the next year."

Mr. Lieber said a slower-than-anticipated recovery has made for a more-challenging environment, and "the predominant factor" affecting all new projects is that companies are increasingly choosing to renew their leases instead of move.

Mr. Silverstein, 81 years old, has been a fixture at the World Trade Center site since weeks before the towers were attacked on Sept. 11, 2001. He won the long-term lease to control the twin towers. In better times, he and the Port Authority imagined four towers would rise together. The economic downturn threw cold water on that vision.

UBS AG was in advanced talks to be the main tenant in 3 World Trade until it abruptly pulled out of discussions following a rough second quarter in 2011, Mr. Silverstein has said. Last summer, the bank opted to keep many operations in Stamford, Conn., saying at the time it was pleased to stay there.

Other companies that had discussions with Mr. Silverstein's firm but have opted against taking space at the tower include investment bank Jefferies Group Inc., JEF, Viacom, DTV and Citigroup Inc., according to multiple real-estate executives with knowledge of the talks. Viacom and Citigroup recently signed large lease renewals to stay in place. Representatives of Viacom and Jefferies didn't respond to requests for comment, and a spokesperson for Citigroup declined to comment.

Just to the west of the World Trade Center site, Brookfield Office Properties Inc. BPO hasn't yet been able to lure large tenants like Viacom to fill more than three million square feet at the World Financial Center set to become vacant late next year, Brookfield has said.

The space, which houses part of Bank of America Merrill Lynch, is as large as the entire Empire State Building. The Bank of America unit is keeping a smaller presence in the property, and cut down its needs there after its acquisition of Merrill Lynch & Co..."

"...As for 3 World Trade Center, Mr. Silverstein needs a tenant of at least 400,000 square feet to continue, based on a 2010 subsidy deal with government agencies. Without it, the first eight floors would be completed, perhaps to hold retail."
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Old July 26th, 2012, 11:56 PM   #1810
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can't wait for constructions of wtc will finished!
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Old July 27th, 2012, 12:00 AM   #1811
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No one can.
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Old July 27th, 2012, 01:09 AM   #1812
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Is it just me, or does anyone else see perimeter columns going in right on the edge of Greenwich Street?
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Old July 27th, 2012, 10:49 AM   #1813
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It's not only you, it was already discussed on the last page of this thread..
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Old July 27th, 2012, 11:48 AM   #1814
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Quote:
Originally Posted by spectre000 View Post
Just because they've ordered the steel doesn't mean they'll erect it. Those are two different things. The steel will likely just go to a warehouse for storage till an anchor tenant is found.
Ι know, but that seems like a totally retarded thing to do...

you are ordering 27,000 tons of stell in order to.... "store it"? Storing 27,000 tons of steel equals new daily costs for that storage. They wont store 27,000 tons for free. You are going to pay for that storage and you are going to pay dearly.

So it sounds really stupid to place such an order when you have no idea what is going to happen and when/if the tower is erected.

I dont know, that whole thing just hurts my logic... it could very well be like you are saying it is, but still sounds retarded in my book if they decided something like that.
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Old July 27th, 2012, 04:37 PM   #1815
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There are plenty of open fields in the Carolinas that would be cheap storage places for the steel. I doubt they would store more than a lead times worth of material.
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Old July 27th, 2012, 06:31 PM   #1816
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When I walked behind the building on Church Street, I saw graffiti that read JESUS IS KING in big letters on the core. I lol'd! I will try and upload some pics of this, 1WTC, and One57 later this afternoon.
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Old July 27th, 2012, 06:37 PM   #1817
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Originally Posted by RandomNameTag View Post
When I walked behind the building on Church Street, I saw graffiti that read JESUS IS KING in big letters on the core. I lol'd! I will try and upload some pics of this, 1WTC, and One57 later this afternoon.
Someone already posted a pic of the Jesus is King graffiti btw

http://www.skyscrapercity.com/showpo...postcount=1748
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Old July 27th, 2012, 06:44 PM   #1818
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Someone already posted a pic of the Jesus is King graffiti btw

http://www.skyscrapercity.com/showpo...postcount=1748
I'm behind the times, I guess
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Old July 27th, 2012, 07:54 PM   #1819
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Originally Posted by Portskydiver View Post
Is it just me, or does anyone else see perimeter columns going in right on the edge of Greenwich Street?
the perimeter columns do see to be very close to Greenwich street. Hopefully they make room for a sidewalk or a plaza
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Old July 27th, 2012, 07:57 PM   #1820
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Originally Posted by Valkyre View Post
Ι know, but that seems like a totally retarded thing to do...

you are ordering 27,000 tons of stell in order to.... "store it"? Storing 27,000 tons of steel equals new daily costs for that storage. They wont store 27,000 tons for free. You are going to pay for that storage and you are going to pay dearly.

So it sounds really stupid to place such an order when you have no idea what is going to happen and when/if the tower is erected.

I dont know, that whole thing just hurts my logic... it could very well be like you are saying it is, but still sounds retarded in my book if they decided something like that.
There has been no absolutely no official word about this tower being build fully. That article seems to be written very poorly. Sorry but count on this tower going on HOLD.

https://www.google.com/search?q=wtc3...w=1920&bih=950

Last edited by webeagle12; July 27th, 2012 at 08:07 PM.
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