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.
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.
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.
McGraw Hill Financial Inc. plans to move about 250 employees to lower Manhattan as it leaves the Midtown building that bears its name, becoming the latest information-related company to depart the area.
Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, agreed to acquire Plains Exploration & Production Co. and McMoRan Exploration Co. for about $9 billion as the company returns to its roots in energy.
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.