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A photo of the World Trade Center site from January 12 shows progress on the memorial (center), 1 WTC (top left) and Tower 4 (bottom right) but not Tower 2 or Tower 3 (top right). (WTCProgress/Flickr)
That’s how much the Port Authority owes developer Larry Silverstein, after an arbitration panel’s ruling yesterday, which Silverstein Properties announced in a press release today. The developer had been seeking monetary damages and reduced rents because, Silverstein argued, the PA had delayed in turning over the sites of Tower 2 and Tower 3, also known as 200 and 175 Greenwich, designed, respectively, by Norman Foster and Richard Rogers. The arbitrators, who Silverstein tapped in July, found this not to be the case, though it is not entirely clear why as their decision has not been publicly released. Read More