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Old October 17th, 2013, 06:10 AM   #2881
ThatOneGuy
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The whole point of waiting is to not mess up the design!! Logos included
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Old October 18th, 2013, 03:55 AM   #2882
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That's a great point.
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Old October 23rd, 2013, 11:25 PM   #2883
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Citigroup to 388 Greenwich
http://stream.wsj.com/story/latest-h...9/SS-2-362445/

Looks like we are going to have to wait longer for this baby to rise.

Looks like Citigroup is close to renewing their lease and consolidating the majority of their operations over at 388 Greenwich.

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If the renewal deal is completed at 388-390 Greenwich St., it would be one of the largest leases in years in New York. If Citigroup had decided to leave, SL Green would have been left to fill the entire 2.6 million square-foot property.

The deal isn’t final and could still collapse, people familiar with the situation said. The bank had also considered other locations, including a new office tower planned by developer Related Cos. on Manhattan’s far west side and the planned 1,349-foot 2 World Trade Center tower that is awaiting a major tenant to move forward, the executives said.
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Citigroup zoomed in on SL Green’s buildings after a search that lasted more than a year. In recent weeks, Citigroup narrowed its focus to 388-390 Greenwich and 2 World Trade Center, which is being planned by Silverstein Properties Inc. SL Green and Silverstein each made presentations to Citigroup’s board within the past two weeks, people familiar with the presentations said. In recent days, Citigroup informed Silverstein that its tower was out of the running and began negotiating only with SL Green, the executives said.
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Despite the extensive search, many onlookers considered a renewal always to be the likeliest of outcomes given that new construction would be more expensive—a hard sell at a time when the financial sector is looking to find savings wherever it can.

Last edited by Vertical_Gotham; October 23rd, 2013 at 11:32 PM.
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Old October 24th, 2013, 12:20 AM   #2884
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Aw, that's too bad. I was hoping that citi would buy 2 World Trade Center. It was my only hope for 2 WTC to find a tenant in 2013.

I guess the good point about this is that there probably won't be any logos on 2 WTC. And when it's completed, it'll be a beautiful, logoless tower. And 388 Greenwich Street is such an ugly building. I guess Citi doesn't care about a building's architecture at all.
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Old October 24th, 2013, 12:34 AM   #2885
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Man, I was really hopeful that they'd commit here.
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Old October 24th, 2013, 02:11 AM   #2886
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This won't be built for years, just as MW and 15 Penn won't be either. Eventually, they all will rise, but as Related continues to buy parcels in the Yards and offer tenants deals at cost, no other developer, but for niche projects, like 425 Park or 1 Vanderbilt, can compete.
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Old October 24th, 2013, 02:38 AM   #2887
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What's MW and 15 Penn? And are there any big supertall (or at least skyscraper) projects in lower Manhattan besides the world trade center, 56 Leonard Street, and 80 South Street?
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Old October 24th, 2013, 02:41 AM   #2888
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50 West, 22 Thames, 30 Park.
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Old October 24th, 2013, 08:16 AM   #2889
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What a shame. I guess we have to be patient and hope this building secures a major tenant sooner rather than later.
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Old October 24th, 2013, 01:50 PM   #2890
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Citigroup would be a great anchor here.
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Old October 26th, 2013, 10:47 PM   #2891
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Oh no! That totally blow! I hope Amazon is still interested in this tower and sign the lease. I hope we won't have to wait another a several years for this beautiful tower to rise.
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Old October 27th, 2013, 12:09 AM   #2892
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Originally Posted by CrazyAboutCities View Post
Oh no! That totally blow! I hope Amazon is still interested in this tower and sign the lease. I hope we won't have to wait another a several years for this beautiful tower to rise.
This tower will get an anchor when the economy is booming and not before then. Silverstein clearly is not giving deals to tenants like Related is. He should since the WTC is a symbolic complex. I guess he's more interested in making shekels.
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Old October 27th, 2013, 07:31 PM   #2893
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Quote:
Originally Posted by RobertWalpole View Post
This tower will get an anchor when the economy is booming and not before then. Silverstein clearly is not giving deals to tenants like Related is. He should since the WTC is a symbolic complex. I guess he's more interested in making shekels.
So he should accept a loss on his investment simply so we can see it...rise?
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Old October 27th, 2013, 07:34 PM   #2894
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Quote:
Originally Posted by phoenixboi08 View Post
So he should accept a loss on his investment simply so we can see it...rise?
He should lease it at cost. This should be about helping the city rebuild a symbolic complex -- not greed and making shekels.
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Old October 27th, 2013, 07:47 PM   #2895
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I agree, seeing as this is replacing a building which was lost... compared to other skyscrapers which are built by demolishing the previous building with a financial deal
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Old October 27th, 2013, 08:01 PM   #2896
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Plus Larry Silverstein is 82 years old. You'd think he'd want to speed it up so he can see it complete before he croaks.
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Old October 28th, 2013, 02:29 PM   #2897
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Apparently it's not that important. From a business point of view there is no way he can start building right now.
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Old October 28th, 2013, 03:42 PM   #2898
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Quote:
Originally Posted by RobertWalpole View Post
This tower will get an anchor when the economy is booming and not before then. Silverstein clearly is not giving deals to tenants like Related is. He should since the WTC is a symbolic complex. I guess he's more interested in making shekels.
Curious are you using the term "making shekels" because Mr. Silverstein is Jewish? I'm not sure making comments like that are necessary. Just a thought.
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Old October 28th, 2013, 05:39 PM   #2899
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Shekels isn't a 'Jewish' word. Shekels is a generic term. In my econ exams you'll find the most common currency to be the 'Alien Shekel'
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Old October 28th, 2013, 06:04 PM   #2900
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I believe I read in another forum that silverstein has to lease the space at market rates in order to qualify for loans from the PA and such. That is probably why.
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200 greenwich st., 2wtc, foster and partners, lower manhattan, new york, nyc, silverstein, supertall, world trade center

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