Larry Silverstein

Although the credit crisis has definitely taken its toll on local green building projects in a variety of ways, the Post’s Steve Cuozzo reported today that Larry Silverstein may be close to landing a tenant who will at least partially replace the space that HSBC was slated to occupy at LEED Gold-certified 7 World Trade Center. HSBC’s potential move to five floors at the green tower was heralded, but a deal to sell its Midtown headquarters at 452 Fifth Avenue (at West 40th Street) fell apart several weeks ago after bidders came up $180 million short of the bank’s $600 million asking price. Accordingly, HSBC very quietly pulled out of its agreement to move downtown to Manhattan’s first LEED-certified commercial office building. Now, the German bank West LB is “in ‘real’ discussions” with Mr. Silverstein for space across three floors.

Scout Real Estate Capital, whose New York City offices are located on the 34th floor of Larry Silverstein’s LEED Gold-certified 7 World Trade Center, announced earlier this week that construction on a 5-star resort hotel in Bermuda’s Southampton Parish should commence in September after local officials approve the firm’s preliminary design plans. Scout has already commenced demolition of the Wyndham Beach Resort (which currently occupies the site) and is recycling reclaimed copper and concrete from the property. The firm intends to seek an unspecified LEED rating for the $300 million project, which should open up sometime in 2011, feature 150 guest rooms, and draw power from an on-site solar array.

According to the New York Observer, NBC is considering office space at both LEED Gold 7 World Trade Center and SJP Properties’ LEED Gold hopeful 11 Times Square. The network most recently visited 7 WTC on June 2, where the top ten floors of the tower remain available at asking rents around $75 per square foot. “NBC has been back to 7 World Trade Center a number of times, with executives and different division heads poring over the building,” a source told the Observer. Nevertheless, another source claims that NBC is now focusing on 11 Times Square, which is still seeking an anchor tenant, as well as other spaces along 8th Avenue. The network hopes to move its business operations into whatever new space it chooses sometime during 2009 .

Late yesterday, Crain’s reported that JPMorgan Chase will move its investment banking operations into the former offices of Bear Stearns on Madison Avenue at 47th Street in Midtown, which JPMorgan purchased on Monday in the aftermath of Bear’s meltdown last week. The decision places the proposed LEED Platinum Beer Belly Building project at 5 World Trade Center in jeopardy- if not completely shelving it- though according to a spokesman the bank is still considering its options in connection with the site. Crain’s also reports that JPMorgan will continue negotiating with the Port Authority about building at 5 WTC, but the same spokesman “couldn’t say what might be built . . . or when a decision would be reached.”

After completing excavation at 4 World Trade Center a month ago, the Port Authority on Wednesday finished excavation and foundation work at 3 World Trade Center. Respectively, the sites will be home to Fumihiko Maki’s 64-story, 975-foot minimalist 150 Greenwich Street and Richard Rogers’ 71-story, 1,147-foot 175 Greenwich Street. The Port Authority performed the work pursuant to the agreement that it entered into with Larry Silverstein back in 2006 (whereby Mr. Silverstein turned over the development of the Freedom Tower and Tower 5- the LEED Platinum Beer Belly Building- to the Port Authority in exchange for the right to build a trio of Greenwich Street towers). The Port Authority has now turned the sites back over to Mr. Silverstein after collectively excavating 400,000 tons of concrete, soil, and rock, as well as constructing an 80-foot deep foundation with 240 streel tiebacks.

As we briefly noted late last week, Larry Silverstein has secured another tenant for LEED Gold 7 World Trade Center. Advertising firm Arnell Group will pay $70 per square foot for the entire 40,000 square feet on the building’s 37th floor. According to the New York Observer, only 440,000 square feet remain across 11 floors [...]

Silverstein Properties held a press conference last Thursday at its LEED Gold 7 World Trade Center to unveil updated architectural plans for neighboring Towers 2, 3, and 4 that will soon rise along Greenwich Street. Given today’s sixth anniversary of September 11, I thought it was appropriate to recognize these new buildings once again- all [...]

It’s unclear whether Steve Cuozzo’s nickname will stick, but after an announcement last week, it looks like One Bryant Park won’t stand alone as New York City’s lone LEED Platinum office tower for very long. JP Morgan Chase will relocate its corporate headquarters to Ground Zero, on the site of the former Deutsche Bank Building [...]

I attended yesterday’s New York Building Congress breakfast forum at the Hilton on Sixth Avenue in Midtown. Deputy Mayor Doctoroff was the keynote speaker, and, despite my feelings on the NYC2012 disaster (which he was in large part responsible for), I was really looking forward to hearing him speak, particularly given his audience, which was [...]

From today’s New York Times:
Sporadic talks continued into the evening with the hope of finding a framework for a deal that would allow construction of the Freedom Tower, the largest of five towers planned for the site, to begin next month. A new arrangement, officials say, would also allow the rebuilding of the entire 16-acre [...]