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Old July 29th, 2010, 02:15 PM   #381
HK999
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2WTC will be built to street level.
for now, yes. but don't forget there is still the possibility of silverstein finding enough tenants so 2WTC can be built to its full height.
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Old July 29th, 2010, 02:48 PM   #382
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If I had a business in NYC with the right amount of money I wouldn't hesitate to lease office space in 2WTC.
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Old July 29th, 2010, 03:45 PM   #383
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If I had a business in NYC with the right amount of money I wouldn't hesitate to lease office space in 2WTC.
Same here..
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Old July 29th, 2010, 04:52 PM   #384
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I'm sure many, many others have expressed this opinion ... but in my view this this the handsomest of the towers going up at the WTC.
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Old July 29th, 2010, 07:33 PM   #385
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update guys ..........
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Old July 29th, 2010, 08:35 PM   #386
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for now, yes. but don't forget there is still the possibility of silverstein finding enough tenants so 2WTC can be built to its full height.
Don't you mean 3 WTC? Silverstein has to find tenants for Tower 3 so I think finding tenants for Tower 2 is the last thing on his mind. Tower 2 will be on hold for years because he can't finance Tower 2. The Port Authority has agreed to help with Tower 3 if he finds tenants then it can be built to its full height. Tower 2 isn't getting built right now. It will only get built to grade level so that the infrastructure could be built to intersect with the World Trade Center Transit Hub.
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Old July 29th, 2010, 09:28 PM   #387
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Don't you mean 3 WTC? Silverstein has to find tenants for Tower 3 so I think finding tenants for Tower 2 is the last thing on his mind. Tower 2 will be on hold for years because he can't finance Tower 2. The Port Authority has agreed to help with Tower 3 if he finds tenants then it can be built to its full height. Tower 2 isn't getting built right now. It will only get built to grade level so that the infrastructure could be built to intersect with the World Trade Center Transit Hub.
that's why is said for now, meaning that the current plan for 2WTC is to build it to street level plus the podium, nothing more. then construction of 2WTC will be put on hold BUT if silverstein manages to lease enough space this tower will resume construction. and keep in mind that till they reach street level silverstein will have about 1 1/2 to 2 years to find the necessary tenants. of course 3WTC has priority but 2WTC is all but cancelled (in terms of being built as a stump).
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Old July 30th, 2010, 01:57 AM   #388
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Don't you mean "anything but cancelled"?
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Old July 30th, 2010, 02:08 AM   #389
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by the time it get out of the ground, the market should turn around. I'm just happy there getting something done
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Old July 30th, 2010, 02:15 AM   #390
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2WTC is a long ways off. Everyone on this board wants it built. But the fact remains that the supposed million square feet leased in 1WTC by government agencies, isn't "officially" signed. There are still several empty floors in 7WTC. 4WTC is technically only going to be 1/3 leased to the Port Authority. And 3WTC must have 400,000 sq ft pre-leased to even have a chance at the $600 million from the public and loan back stopping.

400,000 square feet leased in 3WTC won't even cover the loan payments for a building that size. Silverstein really needs it about 50% leased or he'll just wind up having the building foreclosed on. Same goes for 4WTC.

I doubt Silverstein is even marketing 2WTC at the moment. He needs to fill up 3 and 4WTC so he'll be able to make the loan payments or risk losing the towers.

2WTC isn't going past the street level or podium until 2015 at the earliest.
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Old July 30th, 2010, 05:57 AM   #391
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Quote:
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that's why is said for now, meaning that the current plan for 2WTC is to build it to street level plus the podium, nothing more. then construction of 2WTC will be put on hold BUT if silverstein manages to lease enough space this tower will resume construction. and keep in mind that till they reach street level silverstein will have about 1 1/2 to 2 years to find the necessary tenants. of course 3WTC has priority but 2WTC is all but cancelled (in terms of being built as a stump).
I think you're expecting too much from Silverstein. I wouldn't consider him reliable or a man of his word. For years he has promised that the World Trade Center would be rebuilt by 2012 but ofcourse that won't happen. He will be lucky if he can just get some tenants for Tower 3. Tower 2 will be on hold for a long time. Then again, when the economy fully recovers, he can acquire the loans he needs to build Tower 2 to its full height. It's not like we desperately need Tower 2 anyway and besides, it totally kills off the East River view of One World Trade Center aka Freedom Tower.
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Old July 30th, 2010, 06:19 AM   #392
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Silverstein got 7WTC built and 85% occupied without having any pre-leased tenants. He wanted to get 2WTC started several years ago but was rebuffed by the PA and Gov Pataki in favor of starting 1WTC first.

2WTC would've been a perfect tower to start after 7 since its in the northeast corner and would have had Greenwich and Fulton Streets seperating it from further construction activity at the wtc.
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Old July 30th, 2010, 07:43 PM   #393
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Quote:
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Silverstein got 7WTC built and 85% occupied without having any pre-leased tenants. He wanted to get 2WTC started several years ago but was rebuffed by the PA and Gov Pataki in favor of starting 1WTC first.

2WTC would've been a perfect tower to start after 7 since its in the northeast corner and would have had Greenwich and Fulton Streets seperating it from further construction activity at the wtc.
Silverstein did good with 7 WTC by getting tenants for it after it opened in 2006. I'm not saying Silverstein is fully to blame for all the delays because I give most of the blame to the Port Authority. The Port Authroity took over 2 years to excavate the sites of Towers 2, 3, and 4. If they had excavated sooner, Silverstein could have obtained the loans he needed to fund all three of his Towers before the Economy went to shit. The important thing is that nothing has been cancelled so we'll look forward for the years to come. As long as Towers 1 and 4 are getting built right now, I would say it's enough. Freedom Tower will be the main tourist attraction and Towers 2, 3, and 4 will be just for office space although they each will have retail space on the bottom floors. So it was best to start with Freedom Tower first.
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Old July 30th, 2010, 11:52 PM   #394
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Agree with Spectre.

I think it makes perfectly sense not to spoil the office market with 4 megatowers at the same time available.
In the end they will all be built but it might take 5-10 years or so.
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Old July 31st, 2010, 12:07 AM   #395
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I hope this tower does get built its my favourite WTC tower.
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Old July 31st, 2010, 07:35 PM   #396
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I don't like to offend others, but this Tower is U/C!
So the question is no longer if this will ever be build, but when it will be finished. That again is a moot question. It could take 5, 10 or 20 years, but one day this thing will be finished. Silverstein doesn't spend tens milions of dollar for the designed-for-a-400-meter-building-foundations to build a 8-story stump on top of it.
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Old July 31st, 2010, 07:51 PM   #397
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I don't like to offend others, but this Tower is U/C!
So the question is no longer if this will ever be build, but when it will be finished. That again is a moot question. It could take 5, 10 or 20 years, but one day this thing will be finished. Silverstein doesn't spend tens milions of dollar for the designed-for-a-400-meter-building-foundations to build a 8-story stump on top of it.
It will be built. But anyone who thinks Silverstein is going to land some major tenants for this one in the next 18 months is crazy. He's gotta get some deals signed in 3 and 4WTC just to make those towers viable. Without tenants or good prospects he's going to have an impossible time selling the Liberty Bonds to investors to raise capital in order to build these towers.
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Old August 2nd, 2010, 03:15 AM   #398
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Lower Manhattan Real Estate Market Improving

From scribd.com:

"As leasing activity improved across Manhattan, the Downtown market showed a rebound in year-to- date leasing activity with a 28% increase over 2009, or 1.4 million sf total. New and pending leases show that Lower Manhattan’s major tenants remain committed to the area while creative services firms
are increasingly drawn to it"

http://www.scribd.com/doc/35005028/L...Market-Q2-2010
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Old August 2nd, 2010, 05:17 AM   #399
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There will be no problem filling this building with tenants.

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Old August 2nd, 2010, 07:13 AM   #400
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It's just getting the first ones that's the hardest. They've been marketing these towers for several years now, still no takers. It's good to see the market is absorbing space and no one is fleeing en masse from NYC. But signing on the dotted line is what counts.
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