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Old November 27th, 2011, 08:39 PM   #1621
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In some way funny they're not able to find tenants for such a high prestige tower in this prime location of what is supposed to be the capital of the world in many respects...

Is it due to enormous prices they're asking for?
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Old November 27th, 2011, 08:46 PM   #1622
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Quote:
Originally Posted by erbse View Post
In some way funny they're not able to find tenants for such a high prestige tower in this prime location of what is supposed to be the capital of the world in many respects...

Is it due to enormous prices they're asking for?
The price for square foot was set to $75 and up
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Old November 27th, 2011, 09:51 PM   #1623
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yup, game over pretty much for WTC2 for a while. At least until they will find tenants. Sad but they told us that long time ago.

I really don't understand why there some people surprised that this is happening.

You will still see some work until next year although but don't get your hopes high. Sucks...
I'm surprised to see a crane leave already. I wasn't expecting that till mid 2012.

But nobody should be surprised this is going on hold. We knew it was gonna happen. Now we just need tenants to fill 4WTC. Then Silverstein will move on to 3WTC, and then to 2WTC.

Of course there's still a million square feet of space available in 1WTC to compete with as well. Not to mention the soon to be remodeled and upgraded WFC towers across the street...
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Old November 27th, 2011, 10:33 PM   #1624
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And all new towers being built or planned across the city..
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Old November 27th, 2011, 10:42 PM   #1625
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Jeez, why can't the U.S. government step in and stump up some $$$ to get these towers going? This is not any development, this is the WTC damn it! It's just painful to watch this beautiful tower stop construction so soon.
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Old November 27th, 2011, 10:49 PM   #1626
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Better no tower than a vacant, half completed tower.
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Old November 27th, 2011, 11:56 PM   #1627
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Jeez, why can't the U.S. government step in and stump up some $$$ to get these towers going? This is not any development, this is the WTC damn it! It's just painful to watch this beautiful tower stop construction so soon.
Most of the money used in rebuilding the WTC has come from the government. Building millions of square feet of spec office space with no tenants would just depress the market more and make things worse. NY learned that lesson when it built the original WTC.

Last edited by spectre000; November 28th, 2011 at 04:10 AM.
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Old November 28th, 2011, 03:22 AM   #1628
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Quote:
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Jeez, why can't the U.S. government step in and stump up some $$$ to get these towers going? This is not any development, this is the WTC damn it! It's just painful to watch this beautiful tower stop construction so soon.
Because it's not the government's job to do so.
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Old November 28th, 2011, 03:59 AM   #1629
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Perhaps Silverstein should consider building 2WTC, with the same external design, as a prestigious residential or mixed-use tower, instead of as purely office space. Could the existing foundations and basement level structure handle the structural changes to the upper levels necessary for such a redesign? How does residential demand in Lower Manhattan compare to office demand currently?

... Considering the suggestion that the tower's construction be subsidized, no level of government should even consider further funding the development of this tower, regardless of demand. No matter what, it would distort the local real estate market, as spectre000 noted above.
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Old November 28th, 2011, 04:36 AM   #1630
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Perhaps Silverstein should consider building 2WTC, with the same external design, as a prestigious residential or mixed-use tower, instead of as purely office space. Could the existing foundations and basement level structure handle the structural changes to the upper levels necessary for such a redesign? How does residential demand in Lower Manhattan compare to office demand currently?

... Considering the suggestion that the tower's construction be subsidized, no level of government should even consider further funding the development of this tower, regardless of demand. No matter what, it would distort the local real estate market, as spectre000 noted above.
There's zero chance of any of that. Residential/hotels are vastly different in nearly every conceivable way in comparison to commercial buildings.

People need to keep in mind, the CEO of Related Stephen Ross, the firm building the Hudson Yards said over the summer his company was talking to NINE companies who all needed at least 1 million sf of space. If any one of those nine firms signed up to this tower, it would be built. The pent up demand is there, unfortunately for this particular building a company who wants say 1.5 million sf of space has a lot of choices right now between here, Hudson Yards, Manhattan West, 15 Penn... So you can't blame them for waiting things out and trying to get the best price.
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Old November 28th, 2011, 04:57 AM   #1631
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There's zero chance of any of that. Residential/hotels are vastly different in nearly every conceivable way in comparison to commercial buildings.

People need to keep in mind, the CEO of Related Stephen Ross, the firm building the Hudson Yards said over the summer his company was talking to NINE companies who all needed at least 1 million sf of space. If any one of those nine firms signed up to this tower, it would be built. The pent up demand is there, unfortunately for this particular building a company who wants say 1.5 million sf of space has a lot of choices right now between here, Hudson Yards, Manhattan West, 15 Penn... So you can't blame them for waiting things out and trying to get the best price.
So would a height reduction to lower the leasing cost be a reasonable expectation for the future of this tower?
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Old November 28th, 2011, 05:12 AM   #1632
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Highly doubt a height reduction of any real substance here. This tower is an important piece to the overall redevelopment of the trade center and a lot of thought in particular went into the angles and geometry of this building in relation to the memorial.

I know tower 3 was reduced a bit, but those reductions were made to cut construction costs and this tower was designed with that in mind in the first place.

I know it's frustrating, but once the new office buildings that I mentioned above start to fill up, so once one or two companies sign pre leases, I think the dominoes will fall, as the other companies who want space have less options and dont want to be left out of the new office building party, they will sign pre leases with increasing frequency to make sure they get new space. Just a matter of the first couple of big firms signing leases, and essentially taking whole buildings off the table from the other firms. This was my favorite building of the bunch, but patience is really key here.
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Old November 28th, 2011, 09:40 AM   #1633
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Highly doubt a height reduction of any real substance here. This tower is an important piece to the overall redevelopment of the trade center and a lot of thought in particular went into the angles and geometry of this building in relation to the memorial.

I know tower 3 was reduced a bit, but those reductions were made to cut construction costs and this tower was designed with that in mind in the first place.

I know it's frustrating, but once the new office buildings that I mentioned above start to fill up, so once one or two companies sign pre leases, I think the dominoes will fall, as the other companies who want space have less options and dont want to be left out of the new office building party, they will sign pre leases with increasing frequency to make sure they get new space. Just a matter of the first couple of big firms signing leases, and essentially taking whole buildings off the table from the other firms. This was my favorite building of the bunch, but patience is really key here.
Thanks for this information and your opinion. I agree in every aspect. I would be mad if this tower were reduced in height. The world trade center complex is like a descending stair case. Tower 1, 2, 3, 4, then 5. If tower 2 were shrunk, it would look out of place and ruin the cleanness of the whole site. Just a question, is tower 2 thicker and wider than tower one? If so, this building will take a long time to rise.
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Old November 28th, 2011, 09:49 AM   #1634
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Larry Silverstein could pay for tower 2 out of pocket if he really wanted, but he is going for maximum profits which means holding off construction for 6-12 months while the economy and office space demand recovers. This is the free market at work, revel in its efficiency.
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Old November 28th, 2011, 09:50 AM   #1635
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http://www.youtube.com/watch?v=UMcV8...47A1A4688413AF
If you haven't seen this already, I recommend you watch.
This tower is impeccable to me. So much work went into its design. I'm a huge fan of the cladding as well.
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Old November 28th, 2011, 02:18 PM   #1636
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Quote:
Originally Posted by QuarterMileSidewalk View Post
Perhaps Silverstein should consider building 2WTC, with the same external design, as a prestigious residential or mixed-use tower, instead of as purely office space. Could the existing foundations and basement level structure handle the structural changes to the upper levels necessary for such a redesign? How does residential demand in Lower Manhattan compare to office demand currently?

... Considering the suggestion that the tower's construction be subsidized, no level of government should even consider further funding the development of this tower, regardless of demand. No matter what, it would distort the local real estate market, as spectre000 noted above.
Atm there is ton of prestigeous residential space rising in NYC. Beekman, 157, Tower Verre, 432 Park all are meant to be mixed use but primarily residential. A residential tower has atm as much competition as an office one
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Old November 28th, 2011, 02:53 PM   #1637
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sad pic.. but had to be expected.. our hope should focus on tower 3, hopefully there is enough demand for this one.. though I prefer the design of tower 2

Vin Schiano on flickr

image hosted on flickr
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Old November 28th, 2011, 02:58 PM   #1638
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Quote:
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Thanks for this information and your opinion. I agree in every aspect. I would be mad if this tower were reduced in height. The world trade center complex is like a descending stair case. Tower 1, 2, 3, 4, then 5. If tower 2 were shrunk, it would look out of place and ruin the cleanness of the whole site. Just a question, is tower 2 thicker and wider than tower one? If so, this building will take a long time to rise.
I'm fairly certain this building is bigger in terms of square footage than any of the other trade center buildings. Partly because it has massive trading floors but nonetheless, this tower is a monster.

And just to explain my broader point clearer, Related CEO says there are nine firms looking for at least 1 million sf. But if you're one of them youre options are currently, 1 WTC, 2 WTC, 3 WTC, Hudson Yards South, Hudson Yards North, Manhattan West 1, Manhattan West 2, and 15 Penn. So why rush into something, they're just playing developers against each other to try and get one of them to lower their asking price. Just a matter of time.
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Old November 28th, 2011, 03:40 PM   #1639
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The WTC towers have one advantage when compared to the others, part of them is already built. In the end companies might pick them just so they won't need to wait an additional year or two but I agree that the number 1 factor will be the cost

Btw, won't this thread soon be moved to the proposed section and it's title changed to on hold?
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Old November 28th, 2011, 03:58 PM   #1640
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Btw, won't this thread soon be moved to the proposed section and it's title changed to on hold?
As long as there is activity on site, it should be in this section (in my opinion)..
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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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