(Silverstein and the Port Authority have, however, been quoted placing costs more in the $1.3 to $1.5 billion range.) Financing for the tower has purportedly hit $2.8 billion. The Silverstein Properties–developed tower is expected to be 1,170 feet high and include 2.86 million square feet of office space. (The building’s 120-foot concrete base, added for security reasons, is off-limits to commercial tenants.)Ĭonstruction of 3 World Trade Center started in 2012, and is expected to be completed in 2015, after delays over financing and securing tenants halted work. And as virtually everyone in the New York real estate industry knows, it will be anchored by publishing giant Condé Nast, which signed a more than 1 million-square-foot lease in 2010. The tower cost co-developers the Durst Organization and the Port Authority of New York & New Jersey between $3.8 and $3.9 billion to build. After topping out earlier this year, it is expected to open by spring 2014. The 1,776-foot, 3 million-square-foot One World Trade Center, which is 104 floors, is the tallest tower in North America.
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