Silverstein wants wall taken down

October 09, 2008 08:32AM

Developer Larry Silverstein claims that a 40-foot-tall retaining wall running through the construction site of the World Trade Center’s Tower 4 makes it impossible to begin work on its foundation, so he wants to continue charging the Port Authority of New York and New Jersey $2.1 million per week in late fees until the land is returned to him “construction-ready.” Meanwhile, the agency has said that the barrier is outside of the tower’s proposed footprint, and that no late fee is applicable. Silverstein, who has already charged the Port Authority $43.8 million in late fees for missing deadlines at two other sites in the area, plans to seek arbitration if the matter is not resolved within 10 days.


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