Deutsche Bank demo costs skyrocket

Demolishing the former Deutsche Bank building will cost at least four times as much as it did to build it. The 25-story building at 130 Liberty Street was supposed to be demolished by the end of 2008 to make way for World Trade Center construction, but now the Lower Manhattan Development Corp. has no firm demolition date. Decontaminating the building, which was coated with toxic dust and debris during the collapse of the Twin Towers, will cost an additional $40 million, bringing the costs to a total of $280 million. The building’s original construction costs were $63 million. Before the attacks, the building was worth only $170 million.