Foster + Partners, the architectural firm run by Norman Foster, was chosen to design the first full- block office tower on Manhattan’s Park Avenue to be built in almost 50 years, the developers said today.
Real estate developer Larry Silverstein can’t seek $3.5 billion from airlines whose planes were hijacked by terrorists and flown into the World Trade Center’s twin towers on Sept. 11, 2001, a judge ruled.
Developer Larry Silverstein will seek private funding for the construction of lower Manhattan’s 3 World Trade Center as the Port Authority of New York and New Jersey backs away from providing a loan guarantee, a person with knowledge of his plans said.
Silverstein Properties Inc. plans to issue $900 million of fixed-rate municipal bonds next week to refinance debt issued to build a 63-story tower at the World Trade Center site, said Elizabeth Mitchell , a spokeswoman for the Empire State Development Corp.
Apollo Global Management LLC, the private-equity firm run by Leon Black, is telling prospective investors their commitments might get scaled back if they wait past October to invest in its next flagship fund, according to two people familiar with the matter.