Developer Larry Silverstein said he plans to start building an 82-story hotel-and-condominium tower a block north of the World Trade Center site in lower Manhattan late this year, after getting a $660 million loan.
World Trade Center Properties LLC asked a federal judge to rule in its favor and reject a defense asserted by AMR Corp.’s American Airlines that it was the victim of an “act of war” in the Sept. 11, 2001, terrorist attacks.
Larry Silverstein, developer of officer towers at Manhattan’s World Trade Center site, named Martin Burger co-chief executive officer of his real estate company as its investments expand beyond its New York base.
Larry Silverstein has formal proposals from two potential tenants for 3 World Trade Center, which if accepted would allow the developer to build the skyscraper to its full 80 stories, two people with knowledge of the negotiations said.
Office rents in the new towers at lower Manhattan’s World Trade Center will rise to levels “very close” to those for high-quality spaces in Midtown, said Larry Silverstein, who is building one of the skyscrapers.
Larry Silverstein is in discussions to cap 3 World Trade Center at seven floors if tenants aren’t found to take enough space for the building’s planned 80 stories, said two people familiar with the talks.
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.
A partnership that includes New York developer Larry Silverstein agreed to sell 575 Lexington Ave., a midtown Manhattan office tower that had been threatened with foreclosure, to Normandy Real Estate Partners LLC and New York Life Insurance Co., said two people with knowledge of the deal.