Port Authority expected to tap Legends to run WTC observation deck

Observatory expected to bring in $875 million over 15 years

TRD New York /
Mar.March 19, 2013 03:00 PM

The Port Authority of New York and New Jersey is slated to strike a 15-year deal with Legends Hospitality Management to operate 1 World Trade Center’s observation deck, the New York Times reported. This deal is the newest sign that the 1,776-foot-high building is approaching the finish line.

The three-story observation deck could rake in $875 million during the 15 years of the deal, the Times said, and the company has committed annual rent payments and a percentage of revenues to the Port Authority.

Legends does not have experience running observation decks. However, Legends does run luxury boxes for the New York Yankees and Dallas Cowboys. The group has also tapped the Hettema Group’s Phil Hettema, who has developed theme park attractions, to design the deck, which will cost roughly $62 million.

Legends beat other groups to run the space, including Montparnasse 56 USA, which is affiliated with a French group that operates observatories in Paris, Berlin and Chicago.

As previously reported, the material for the tower’s spire arrived in the city in December. [NYT]Zachary Kussin


Related Articles

arrow_forward_ios
From left: Port Authority Bus Terminal, Grand Central and Penn Station (Wikipedia, Pixabay, CDC)

TRD Insights: Focus may shift to Manhattan’s 3 transport hubs in post-Covid office market

TRD Insights: Focus may shift to Manhattan’s 3 transport hubs in post-Covid office market
Rick Cotton, Executive Director of The Port Authority of New York and New Jersey, and a photo of a mostly empty John F. Kennedy Airport pictured on April 16, 2020 (Credit: Astrid Stawiarz/Getty Images, Spencer Platt/Getty Images)

Major NY and NJ infrastructure projects in jeopardy

Major NY and NJ infrastructure projects in jeopardy
Clockwise from left: Celonis co-founders Bastian Nominacher, Alexander Rinke, and Martin Klenk with 1 World Trade Center (Credit: Celonis)

German tech firm snags full floor at 1 WTC

German tech firm snags full floor at 1 WTC
Rep. Alexandria Ocasio-Cortez, Governor Andrew Cuomo (inset) and a rendering of LaGuardia's AirTrain (Credit: Getty Images, ANewLGA)

AOC joins in fight against Cuomo’s $2B LaGuardia AirTrain project

AOC joins in fight against Cuomo’s $2B LaGuardia AirTrain project
Cushman & Wakefield CEO Brett White and the Oculus (Credit: Cushman & Wakefield and Unsplash)

Cushman’s management contract at Oculus extended despite woes

Cushman’s management contract at Oculus extended despite woes
A Victoria's Secret store in New York (Credit: Getty Images)

Victoria’s Secret sues WTC landlord amid store closures and layoffs

Victoria’s Secret sues WTC landlord amid store closures and layoffs
The architect claims the design, construction and marketing of the tower rips off the design of a tower he planned and modeled for his thesis

Lawsuit over WTC design is whittled down

Lawsuit over WTC design is whittled down
Families that made New York City: The legacy of the Rockefellers

Families that made New York City: The legacy of the Rockefellers

Families that made New York City: The legacy of the Rockefellers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...