Lease for City Offices at 4 WTC Not a Done Deal

Recently percolating rumors about the NYC Human Resources Administration taking up space at 4 WTC upon its completion might be just that,

Will NYC be moving in or what?

Recently percolating rumors about the NYC Human Resources Administration taking up space at 4 WTC upon its completion might be just that, according to The Post.

4 WTC is shaping up as Larry Silverstein’s less expensive option to his 7 WTC development, with spaces reportedly going at $10-$15 less by square foot, but that isn’t apparently stopping Silverstein & Co. from trying to find potential private sector tenants to outbid public ones like the Federal Government’s General Services Administration, which just took up a space at 1 WTC.

After years of waiting, and waiting, on The City and State to get things going at the WTC site, it is understandable that Silverstein is hoping  to cash in on tenants that won’t be getting an inherent deal on rental rates, but he might also consider that although the new developments have already attracted lease agreements from clients like Conde Nast, they have also been given a pass by UBS (which has elected to remain in Stamford) and the draw of downtown may not be strong enough to find enough worthy alternatives to the steady revenue that a good old city contract might generate.

tmcenery@observer.com

Lease for City Offices at 4 WTC Not a Done Deal