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Old January 6th, 2015, 08:19 PM   #3361
Eric Offereins
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Forget about it. There were good reasons not to do that. Building this isn't SIM city.
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Old January 6th, 2015, 09:34 PM   #3362
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Quote:
Originally Posted by Eric Offereins View Post
Forget about it. There were good reasons not to do that. Building this isn't SIM city.
Of course it isn't SIM city, however was it a big problem to start building new WTC towers with 1 & 2 first ? Both of them are big office buildings for rent or for sale and both of them are part of Silverstein bussiness, so what's the problem ? Could You explain ?
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Old January 6th, 2015, 09:50 PM   #3363
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yasss finally some positive signal.
this is my favorite among all WTC buildings
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Old January 6th, 2015, 09:57 PM   #3364
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There's not much to explain.

These buildings will be built when a company decides that it needs the space (floor space varies) in the tower.

The twins and ESB were opened nearly empty. Certain the Port Authority doesn't want that again, there's even rumors of them wanting to sell the site.
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Old January 6th, 2015, 10:14 PM   #3365
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Quote:
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Both of them are big office buildings for rent or for sale and both of them are part of Silverstein bussiness, so what's the problem ? Could You explain ?
There wasn't (and frankly, still isn't) enough demand to absorb that much office space being dropped on the FiDi market all at once. That's over 6 Million square feet, over half of which would have sat empty while the towers accrued expensive property tax and utility bills. So Tower 4 first made the most sense, because it would be the simplest to find tenants for.

Even building WTC 1 was more symbolic than it was a great business decision at the time, and Silverstein is paying a price for that as the tower remains only about half-leased. This isn't China or the Emirates where the government can just make the thing happen; plans unfold as the market allows. The market isn't idealistic and it isn't patriotic. We should honestly be happy that enough office demand has come back to Downtown to get WTC 3 underway, and (if the rumors bear out) WTC 2 shortly thereafter.
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Old January 7th, 2015, 04:23 AM   #3366
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Not to mention the logistics of building them all at the same time.
What would traffic have looked like on Church and West streets if these buildings somehow where able to be built at the same time?
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Old January 7th, 2015, 05:46 PM   #3367
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Quote:
Originally Posted by MarshallKnight View Post
There wasn't (and frankly, still isn't) enough demand to absorb that much office space being dropped on the FiDi market all at once. That's over 6 Million square feet, over half of which would have sat empty while the towers accrued expensive property tax and utility bills. So Tower 4 first made the most sense, because it would be the simplest to find tenants for.

Even building WTC 1 was more symbolic than it was a great business decision at the time, and Silverstein is paying a price for that as the tower remains only about half-leased. This isn't China or the Emirates where the government can just make the thing happen; plans unfold as the market allows. The market isn't idealistic and it isn't patriotic. We should honestly be happy that enough office demand has come back to Downtown to get WTC 3 underway, and (if the rumors bear out) WTC 2 shortly thereafter.
Tower 1 was built first because the Port Authority wanted it that way. Silverstein wanted to build Tower 2 first.
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Old January 7th, 2015, 06:42 PM   #3368
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Quote:
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Tower 1 was built first because the Port Authority wanted it that way. Silverstein wanted to build Tower 2 first.
Silverstein has no relationship with 1 WTC, which was built and is owned and operated solely by the Port Authority. If Silverstein wanted to build 2 WTC before 3 and 4, which he did build and does own, there was nothing stopping him.
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Old January 7th, 2015, 07:51 PM   #3369
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Silverstein has no relationship with 1 WTC, which was built and is owned and operated solely by the Port Authority. If Silverstein wanted to build 2 WTC before 3 and 4, which he did build and does own, there was nothing stopping him.
That's my mistake, I always forget about the PA/Silverstein relationship and who's on the hook for what. In any case, the point remains that the decision to go with 4 first was always a financial one, dependent on the whims of the FiDi office market. Even if Larry desperately wanted to build 2 first, for aesthetic reasons, patriotic reasons or whatever, to do so before finding tenants would've been to take a big financial hit.
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Old January 7th, 2015, 08:59 PM   #3370
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True, nothing was stopping Silverstein from building tower 2 first if he wanted except, maximizing profits being the motivating factor.

Today market conditions have improved considerably and Silverstein would not be able to command the same pricing if he built tower 2 at the same time 1 WTC was being built. In todays market conditions, he can expect to charge prime rates.

It is for this reason imo, 2 WTC will be a bigger earner than 1 WTC. 1 WTC may be a symbolic symbol of the complex but as far as status, 2 WTC would be the most prestigious because to be in it, you will have to pay top $$ compared to the others in the complex.

2015 is expected to be a banner year for NYC in terms of residential and commercial real estate.
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Old January 8th, 2015, 04:08 AM   #3371
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Silverstein = Money>Country.
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Old January 8th, 2015, 01:51 PM   #3372
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Quote:
Originally Posted by Wbino49 View Post
Silverstein = Money>Country.
Wow, what a profoundly dumb little equation, good boy!
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Old January 8th, 2015, 11:17 PM   #3373
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Quote:
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Silverstein = Money>Country.
Silverstein is a business, not a government. he doesn't serve the country, he serves the market, and the market doesn't want more office space right now.
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Old January 10th, 2015, 12:12 AM   #3374
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Quote:
Originally Posted by Wbino49 View Post
Silverstein = Money>Country.
even though he's still managing to improve this vista without having to unwisely indebt himself and his company by adding 3M sqft of office space which nobody wants to buy.


Flying The Flag by HanMoulton, on Flickr
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Old January 10th, 2015, 04:04 AM   #3375
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^ Thread is about 2 WTC.
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Old January 10th, 2015, 05:50 AM   #3376
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The photo is meant to represent all the commercial/residential space Silverstein is bringing downtown, not to mention a new tower in midtown.
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Old January 13th, 2015, 09:12 AM   #3377
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It's hopeless.
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Old January 18th, 2015, 06:06 AM   #3378
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Every major Bank in the US recently reported lower revenues and profits due to severely diminished trading results, which is due largely to Dodd-Frank. When the new Republican Congress defangs DF, banks will soar. 2 WTC will rise!

http://m.bbc.com/news/business-30852473
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Old January 18th, 2015, 07:40 AM   #3379
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Quote:
Originally Posted by LastConformist View Post
Silverstein has no relationship with 1 WTC, which was built and is owned and operated solely by the Port Authority. If Silverstein wanted to build 2 WTC before 3 and 4, which he did build and does own, there was nothing stopping him.
Its original owner was Silverstein; he himself advocated for David Childs from SOM to design the tower against Libeskind's version.
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Old January 18th, 2015, 07:52 AM   #3380
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Some seem to forget that 1, 4, 2 and 3 were being built simultaneously and that 2 and 3 were put on hold rather than being completed along with 1 and 4. The money wasn't there. If it were, all 4 towers would have risen along side each other. 4 was the cheapest. 1 WTC was the symbol of the whole project (and of the city itself) and had significant backing. That's why 1 and 4 were finished first. It was a logical decision.
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