Will 2 World Trade Center Ever Be Built?
2 World Trade Center Redesign Real Estate Tycoon Larry Silverstein and his eponymous firm Silverstein Properties has found a new look for their trophy tower.
Moreover, the question remains which big name corporation will step into 2 WTC as the ancor tenant. Alsoo known as 200 Greenwich Street. The future 1,350-foot-tall super skyscraper will rival the Freedom Tower, aka 1 WTC for the eyes of New Yorkers. In addition, the famous “Twin Towers” that dominated New York skylines for decades. Will come back to life with the completion of 2 WTC.
Furthermore, 2 WTC was first designed by Foster and Partners back in 2006. Then the famous Bjarke Ingels Group redesigned the tower back in 2015 for then anchor tenant Fox & Rupert Murdoch. Before Foster and Partners were once again selected by Silverstein Properties.
With the whole World Trade Center site almost filled up. Demand should be enough to trigger a large corporation taking 2 WTC as their new headquarters. In addition, it could be something as large as an Apple or a European firm, that would not be the first to come to mind.
Silverstein Properties will probably have to spend between $4 and $6 billion on this final mega tower. Considering the Freedom Tower cost $4.5 billion before Covid and inflation ran rampant. So to take out $6 billion of debt Silverstein will want to secure between:
$200 and $300 million of annual rent from a potential anchor tennant.
With 3 million square foot available in the soon-to be built 2 WTC, Silverstein will need to charge north of $100 per square foot to safely cover his debt expense.