Watch: Why is Silverstein’s WTC complex still unfinished? TRD weighs in

Larry Silverstein’s epic quest to rebuild the World Trade Center complex remains incomplete — and in a market like this one, it may be in limbo for years. “The New York City skyline is a graveyard of broken projects, projects that never happened,” The Real Deal Associate Publisher Hiten Samtani told filmmakers on the B1M, YouTube’s largest construction-focused channel. The B1M took a deep dive into the challenges facing what is perhaps the country’s most-scrutinized

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The quixotic quest to make WTC tower 100% affordable

Nothing is ever easy in New York City, it seems. Especially at the World Trade Center. The latest wrench in the rebuilding is a grassroots campaign to change the plan for a tower slated for 130 Liberty Street, where the Deutsche Bank Building once stood. As if Gov. Kathy Hochul did not have enough to deal with nine months before the biggest election of her life, the New York Times asked her last month about

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Constellation Agency leases 21st floor of One WTC

Advertising company Constellation Agency has signed a lease for 48,000 square feet at One World Trade Center — the entire 21st floor. The agency is subleasing the space from Advance, which is offering some 400,000 square feet of space for sublease at One World Trade. In total, the company, which is the parent of Conde Nast, has 1.1 million square feet. Constellation Agency is moving from 110 William Street. Recently Reddit signed a sublease for

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Westfield sues Victoria’s Secret over WTC mall location

For years, Unibail-Rodamco-Westfield has been engaged in a legal dispute with Victoria’s Secret over its Westfield World Trade Center location. Now, the mall landlord is firing back. Westfield is suing the retailer, claiming that it has stopped paying rent and wrongfully abandoned its store in the downtown shopping mall, according to a complaint filed in a New York court Friday. On Jan. 4, Victoria’s Secret informed Westfield that it had terminated its lease as of

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Port Authority taps CBRE to manage WTC

CBRE is the new manager of the World Trade Center’s 16-acre campus in Lower Manhattan. The Port Authority of New York and New Jersey said Thursday that it awarded CBRE a seven-year contract to manage the property, which includes the $3.9 billion Oculus transportation hub. The $850,000-a-year contract is effective July 1. The Oculus is both a high-end shopping center and transit hub that connects the subway and PATH rail system. The Port Authority put

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Port Authority taps Silverstein, Brookfield to build 5WTC

One of the final undeveloped World Trade Center parcels will give rise to a residential skyscraper with more than 1,300 apartments. The Port Authority of New York and New Jersey chose a vision for the site submitted by Silverstein Properties, Brookfield Properties, Omni New York and Dabar Development Partners, which calls for a 1.56 million-square-foot, mixed-use tower, Commercial Observer reported. The project, designed by Kohn Pedersen Fox, is expected to feature 1,325 rental units, with

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Condé Nast isn’t paying rent at 1WTC amid lease dispute

 Condé Nast is taking its lease disagreement at One World Trade Center to the next level. The magazine publisher, which leases 1.2 million square feet at the Financial District skyscraper, has not paid the $2.4 million it owes in rent for January, according to the Wall Street Journal. The media company has reportedly been looking for a way out of its lease since the summer, and hopes to move to a smaller office in Midtown

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Condé Nast considers move to Gold Coast to save money

Condé Nast is looking into office options in New Jersey to cut costs. The publisher of magazines — including Vogue, Vanity Fair and the New Yorker — wants about 400,000 square feet of office space split between Manhattan and the New Jersey waterfront, Bloomberg News reported, citing anonymous sources familiar with the matter. That’s less than half of the publisher’s existing 1 million-square-foot lease at One World Trade Center. It’s already trimmed its footprint at

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Uber looks to sublet 25% of its 3 World Trade Center office

Uber is looking to trim down its lower Manhattan office space by more than a quarter. The ride-hailing company is offering about 80,000 square feet of its 308,000-square-foot office at 3 World Trade Center, Business Insider reported, citing anonymous sources. Uber signed the lease for the space at Silverstein Properties’ skyscraper in October 2019 and is in the process of moving in, the sources told the outlet. Uber has been shedding employees as well. In

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