search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure looms
New York

Florida pol holds up GSA’s 1 WTC lease

The General Services Administration’s 300,000-square-foot lease deal for 1 World Trade Center, whose completion has already been dragged out for nearly a year, won’t be finalized by Independence Day as the Port Authority of New York & New Jersey and the Durst Organization had hoped. And the New York Post reported it’s all because of a Florida representative.

Sign Up for the undefined Newsletter

Rep. John Mica, who also chairs the House Transportation and Infrastructure Committee, is stalling the deal and other federal leases as part of a battle he’s having with the GSA over the Federal Trade Commission’s lease in Washington, D.C. The deal only needs congressional approval as the Port Authority and Senate have already signed off on it.

Senator Chuck Schumer, who has been instrumental in pushing the lease along, said in a statement that he is now hoping to convince the congressman that “the special nature of this lease for New York and the country as a whole” warrants its completion. [Post, 1st item]

Tags
Charles SchumerDurst OrganizationGeneral Services AdministrationPort Authority