clock menu more-arrow no yes

Filed under:

Chase & the World Trade Center: Friends With Benefits?

As reported yesterday by The Real Deal but for some reason labeled as a Post "exclusive," JPMorgan Chase will go ahead with building something on the site of the current Deutsche Bank building at the World Trade Center, despite no longer needing the new building following the Bear Stearns buyout. The planned 42-story Liberty Street office building was already dropping the bulging trading floors design that gave it its Tower of Darkness moniker, and there will be no beer belly on whatever gets built now, according to sources. So why isn't JPMorgan Chase just dumping Ground Zero now that it has a new girlfriend? Well, the company got a sugar-sweet deal from the Port Authority?a 92-year lease worth about $300 million?so why not build? Chase can always sell the sucker for beaucoup bucks later. The matter of who is going to take all this office space, especially with the Freedom Tower and Towers 2-4 next door, is a topic for a different day. How's about we see some pretty pictures, JP?
· Chase to Build and Bear It [NYP]
· Curbed's Tower of Darkness coverage [Curbed]