The Deed Is Done

The Port Authority board just approved the deal with Larry Silverstein over in the agency’s Park Avenue South headquarters. The developer signed the “framework agreement” this morning. For the most part, it sounds like the Port Authority accepted Silverstein’s last minute amendments, although the agreement still will not close until September.

Chairman Anthony Coscia acknowledged, “As we turn that framework into a definitive agreement, there will certainly be issues that we will have to tackle together, but they are issues largely about the way of implementing what the parties have decided to do.”

P.A. Executive Director Kenneth Ringler took his bow in front of a gaggle of reporters. “Hopefully we are not going to be as newsworthy. You will just see construction going on. It has been nice knowing all you guys.”

Construction on the Freedom Tower could begin within days. Aren’t you excited?

-Matthew Schuerman

The Deed Is Done