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News
Chinese Firm Leases Top of 7 World Trade
by Andrea Bernstein
NEW YORK, NY January 25, 2006 —Developer Larry Silverstein got a big boost yesterday when it was announced he had leased the top five floors of 7 World Trade Center. WNYC's Andrea Bernstein has more.
REPORTER: Silverstein's inability to attract tenants to his soon to be completed office tower has had everyone sweating. But yesterday a buoyant-sounding Governor Pataki announced the deal for a chinese real estate company to take the five top floors of the building.
PATAKI: And while it is not completely finalized the signing of a formal letter of intent is a major milestone and a very important step forward.
REPORTER: Beijing Vantone will help other Chinese companies set up headquarters in New York City. It took five times as much space as the next largest tenant in at 7 World Trade Center and its presence there is seen as a spur towards more commercial activity in Lower Manhattan. The deal will also likely help Silverstein's chances of remaining a main presence in the re-development of the world trade center site.
