One World Trade Center not for sale after all (at least not yet)

Posted On Fri, September 16, 2016 By

Posted On Fri, September 16, 2016 By In Financial District

Last week, 6sqft reported that the Port Authority would sell One World Trade Center for up to $5 billion due in part to vacancy issues and the fact that the tower only brought in $13 million in revenue last year, a mere 0.35 percent return on the agency’s investment. But Authority chairman John Degnan said yesterday to Politico that “It’s certainly not on the block. We’re not talking to any brokers about it.” This doesn’t however, mean that the agency has changed its stance that it will one day “divest and monetize in non-transportation-related holdings.”

Degnan was prompted by a letter from developer Douglas Durst, who owns a $100 million interest, or 10 percent stake, in the building. In it, Durst complained to Degnan that employees were worried they needed to look for new jobs, brokers were “skittish,” and tenants were generally concerned. Degnan didn’t comment directly on the letter, but he did reiterate the previous statement from a 2014 Port Authority report, concluding “We’re reviewing all the non-transportation assets as we speak, but there’s no decision and there’s no decision imminent to sell the World Trade Center now.”

[Via Politico]

RELATED:

Tags : , , ,

Neighborhoods : Financial District

MOST RECENT ARTICLES

  • Driving Barron Trump to school won’t leave NYC in total traffic chaos

    Driving Barron Trump to school won’t leave NYC in total traffic chaos

    It appears the Secret Service and NYPD are indeed taking measures to minimize the disruption caused by Melania and Barron staying ...
  • Map: Here’s where you can afford to live in NYC in 2018

    Map: Here’s where you can afford to live in NYC in 2018

    For New York home buyers, a lot can change in a year. A neighborhood that was considered affordable can all ...
  • A photographer’s classic Soho loft complete with furniture and art asks $10K/month

    A photographer’s classic Soho loft complete with furniture and art asks $10K/month

    The most interesting thing about Soho lofts is often the people who inhabit them; all begin as hangar-sized white spaces with ...
  • Get a free Shake Shack burger via their new app

    Get a free Shake Shack burger via their new app

    Even when all hope seems lost—there’s nothing like a free cheeseburger to raise morale. Shake Shack is celebrating the launch ...
  • Amtrak tearing down Penn Station departure board; Billy Bush lost $1.4M on his Chelsea house

    Amtrak tearing down Penn Station departure board; Billy Bush lost $1.4M on his Chelsea house

    Penn Station’s archaic-yet-iconic Amtrak departure board is officially coming down today to make way for a series of updated, smaller ...
  • De Blasio to allocate $300 million and accelerate construction of third NYC water tunnel

    De Blasio to allocate $300 million and accelerate construction of third NYC water tunnel

    City Water Tunnel No. 3, one of the largest capital projects in the city’s history; Images: NYC DEP Mayor Bill ...
  • Central Park South co-op of the late Doris Roberts lists for $3.3M

    Central Park South co-op of the late Doris Roberts lists for $3.3M

    Emmy-winning actress and animal-rights activist Doris Roberts (you probably know her best as Marie Barone from “Everybody Loves Raymond”) passed away ...
  • The Horse Plague of 1872 brought New York City to a screeching halt

    The Horse Plague of 1872 brought New York City to a screeching halt

    In the fall of 1872, an unfortunate horse plague swept across New York City after making its way through Toronto, ...
  • There are more skyscrapers in NYC than in the next 10 cities combined

    There are more skyscrapers in NYC than in the next 10 cities combined

    Given our growing obsession with skyscrapers–and our growing collection of them–we’re pleased to find that New York City has more skyscrapers than ...
  • Oscar-winning director Steven Soderbergh sells stylish Chelsea pad for $4.8M

    Oscar-winning director Steven Soderbergh sells stylish Chelsea pad for $4.8M

    All the way back in August 2014, 6sqft featured the $5 million listing for this stylish co-op at 147 West 22nd ...
  • Socialite Georgette Mosbacher lists luxurious full-floor, Fifth Avenue co-op for $29.5M

    Socialite Georgette Mosbacher lists luxurious full-floor, Fifth Avenue co-op for $29.5M

    This grand Fifth Avenue co-op belongs to the socialite and political fundraiser Georgette Mosbacher, who has hosted everyone from King ...
  • SPACE T2: A 1959 hunting shack transformed into an off-grid studio by Stephen Holl

    SPACE T2: A 1959 hunting shack transformed into an off-grid studio by Stephen Holl

    Space T2 is a minimal artist studio located in Rhinebeck, NY. Stephen Holl Architects built the off-grid cabin using what remained of ...

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.