Saturday, December 27, 2014

Follow us:
Follow @NY1 on Twitter Follow NY1 News on Facebook Follow NY1 News on Google+ Subscribe to this news feed 


City Shells Out $32.9M To Lease Space At World Trade Center

  • Text size: + -
TWC News: City To Pay $32.9M To Lease Space At New WTC Tower
Play now

Time Warner Cable video customers:
Sign in with your TWC ID to access our video clips.

out of 10

Free Video Views Remaining

To get you to the stories you care about, we are offering everyone 10 video views per month.

Access to our video is always free for Time Warner Cable video customers who login with their TWC ID.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

New York City's local government will be one of the tenants in the rebuilt World Trade Center site, and the space will not be cheap.

Developer Larry Silverstein says he has exercised his option to have city government occupy roughly one-third of the 4 World Trade Center building that was formerly known as the "Freedom Tower."

It will cost an estimated $32.9 million a year to lease.

In an effort to get construction going, the city agreed in 2006 to become a tenant at a rate of $56.50 per square foot.

On Friday, a mayoral spokesperson credited the city's efforts as a key part of moving the project forward.

The tower is expected to be completed in 2013. Under certain restrictions, the city could also sublease the space. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP