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Silverstein Vs. China at 7 WTC
By
Jen Chung
Published Jul 12, 2006
Modified Mar 7, 2008
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By
Jen Chung
Published Jul 12, 2006
Modified Mar 7, 2008
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World Trade Center developer Larry Siilverstein might be starting a global war of the words as he now claims a deal company Beijing Vantone to rent the top 7 floors of 7 World Trade Center has collapsed. Silverstein says the Chinese real estate company failed to meet a deadline for a security deposit (for the fourth time), but Vantone's spokesperson says lease negotiations only ended 10 days ago. The NY Times suggests that Silverstein may be fishing for tenants who can pay more than Vantone, as Midtown commercial rents continue to climb. The deal with Vantone was intially announced in January, which is light years ago in terms of the real estate market. While you can't blame Silverstein for trying to get top dollar for the space, we wonder if the city and state will intercede, as having a Chinese company would be good for global relations. According the Silverstein Properties website, the floors marked for Vantone have a "lease pending."
Moody's is close to renting out 15 floors of 7WTC.
Tagged
beijing
chinese
midtown
ny times
real estate
Silverstein Properties
the city
The NY
the ny times
Trade Center
world trade center
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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