The Real Deal New York

Deutsche Bank tower demolition was costly before fire

August 22, 2007 12:00AM

The cost of the complex demolition of the contaminated Deutsche Bank tower had nearly quadrupled from its original estimate–from $45 to $177 million–before Saturday’s fire, which killed two firefighters. The jump in price came as the city and the site’s developer, the Lower Manhattan Development Corp., approved cost increases with Bovis Lend Lease, the prime contractor, along with construction management firm URS Corp. and environmental testing firm TRC Engineers Inc. The LMDC had offered Bovis an additional $6 million if the demolition project was finished by Dec. 31., and the contactor offered employees overtime to meet the deadline. The building was badly damaged by the falling World Trade Center. more [NYDN]

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