Schumer presses GSA to finalize 1 WTC lease

TRD New York /
Apr.April 24, 2012 08:30 AM

Sen. Chuck Schumer has turned up the pressure on the United States General Services Administration to complete its lease at 1 World Trade Center, according to the New York Post. The agency has been in talks for space in the building for five years and signed a term sheet for 300,000 square feet on floors 50-56 last August, in the low $40 per square foot, that would bring the building past 50 percent leased.

But the deal has not yet been finalized.

A longtime advocate for new commercial construction in the city, Schumer was compelled to speak to the GSA’s acting administrator, Daniel Tangherlini, because of the lack of activity on the deal despite the apparent agreement.

“A further [GSA] delay could signal to people that it’s just not happening, and encourage other tenants to look elsewhere,” Schumer said. “If this lease isn’t completed, it could be much harder to rent the rest of the tower.”

The GSA has been in the spotlight lately over a spending scandal, which could be partly to blame for the hold-up. [Post, 1st item]


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