Larry Silverstein said during the Bloomberg Real estate Briefing conference yesterday that he expects to break ground on his mixed-use project at 99 Church Street in 2012 and complete it in 2014, according to a Bloomberg News article by A. D. Pruitt.
The project, which is just to the west of the Woolworth Building in Lower Manhattan, includes a 175-room Four Seasons Hotel and 143 residential condominiums in a 912-foot-high, 80-story tower designed by Robert A. M. Stern, the architect of 15 Central Park West.
Mr. Silverstein, the article continued, had hoped to break ground more than twoyears ago and open the doors of the swanky Four Seasons neat year. "When asked if the success of the Four Seasons will depend on the resurgence of the financial services industry Mr. Silverstein responded optimistically 'it's coming,'" the article said.
Mr. Silverstein just named a "Living Landmark" by the New York Landmarks Convservancy for his contribution to the city's real estate market and is best known for leasing the World Trade Center about a month before it was destroyed on Sept. 11, 2001. "He's currently the developer of three buildings at the World Trade Center site. He's also been downtown Manhattan's biggest cheerleader as the office market there struggles to recover from a brutal downturn particularly in the financial services industry," the article said.
The tower will be clad in limestone and the hotel entrance will be on Barclay Street and the residential entrance at 30 Park Place.
Silverstein Properties acquired the 11-story office building that formerly occupied the site at 99 Church Street in November, 2006, with the California State Teachers' Retirement System (CalSTRS) from Moody's Corporation for $170 million and Moody's has relocated its corporate headquarters to Silverstein Properties' 7 World Trade Center nearby.
The Woolworth Building at 233 Broadway is widely considered the third greatest New York City skyscraper after the Chrysler and Empire State Buildings and its visual isolation on the skyline has been recently encroached upon by the new, 56-story apartment tower at 10 Barclay Street developed by Glenwood Management of which Leonard Litwin is a principal.
The project, which is just to the west of the Woolworth Building in Lower Manhattan, includes a 175-room Four Seasons Hotel and 143 residential condominiums in a 912-foot-high, 80-story tower designed by Robert A. M. Stern, the architect of 15 Central Park West.
Mr. Silverstein, the article continued, had hoped to break ground more than twoyears ago and open the doors of the swanky Four Seasons neat year. "When asked if the success of the Four Seasons will depend on the resurgence of the financial services industry Mr. Silverstein responded optimistically 'it's coming,'" the article said.
Mr. Silverstein just named a "Living Landmark" by the New York Landmarks Convservancy for his contribution to the city's real estate market and is best known for leasing the World Trade Center about a month before it was destroyed on Sept. 11, 2001. "He's currently the developer of three buildings at the World Trade Center site. He's also been downtown Manhattan's biggest cheerleader as the office market there struggles to recover from a brutal downturn particularly in the financial services industry," the article said.
The tower will be clad in limestone and the hotel entrance will be on Barclay Street and the residential entrance at 30 Park Place.
Silverstein Properties acquired the 11-story office building that formerly occupied the site at 99 Church Street in November, 2006, with the California State Teachers' Retirement System (CalSTRS) from Moody's Corporation for $170 million and Moody's has relocated its corporate headquarters to Silverstein Properties' 7 World Trade Center nearby.
The Woolworth Building at 233 Broadway is widely considered the third greatest New York City skyscraper after the Chrysler and Empire State Buildings and its visual isolation on the skyline has been recently encroached upon by the new, 56-story apartment tower at 10 Barclay Street developed by Glenwood Management of which Leonard Litwin is a principal.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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