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April 4, 2006
FREEDOM PHOBIA
The NY Post
By Steve Cuozzo
In an article about the fear that the Freedom Tower at the World Trade Center could become a "white elephant" if built on spec, Steve Cuozzo cites Ratner's Times Tower as the only recent such project that has failed to sign up a tenant. Columnist Cuozzo's colleague, Lois Weiss reports that "Ratner may finally have a big tenant interested."
Just one spec project has yet to find tenants: The top half of the New York Times headquarters on Eighth Avenue, where Bruce Ratner has 700,000 square feet to rent. (The Times owns the tower's bottom half; Ratner, the top.) Ratner's space has been on the market for more than a year - yet no one is bellyaching that it's a "white elephant."
Cuozzo's main point is that office space built on spec doesn't remain vacant for long.
Posted by lumi at April 4, 2006 8:03 AM