July 18th - July 22nd, 2011

WTC Cross Returning to WTC Site

The World Trade Center cross currently beside St. Peter’s Church will be moved to its permanent home in the National September 11^th Memorial and Museum, reported the New York Post. The 20-foot-tall cross was uncovered in the debris at 6 World Trade Center following the September 11 attacks. The cross will be blessed in Zucotti Park at 9:30AM on Saturday before being delivered to the WTC site.

Goldman Misses Profit Mark

July 18 -- Despite more than doubling its profits last quarter, Goldman Sachs Group Inc. announced it would eliminate as many at 1,000 jobs nationally in an effort to cut costs, reported Crain’s New York. Analysts were expecting a higher number but due to a sharp drop in bond and currency trading the results didn’t meet expectations. The 63% drop in that business under the previous quarter was much worse than the declines of 18% and 20% at J.P. Morgan Chase & Co. and Citigroup Inc. The decline was attributed to nervous investors concerned about global economic issues.

Oppenheimer Signs Lower Manhattan Deal

July 19 – Globe Street reported that Oppenheimer & Co. Inc signed a 15-year and 270,000 square-foot lease in MetLife’s building at 85 Broad Street. Reportedly the company will consolidate offices from other locations at the new headquarters. Occupancy is expected to begin in late 2011.

More Space to Lease at 1 WTC

July 19 -- The office of General Services Administration (GSA) will likely need much less space at 1 World Trade Center than was expected reported, the New York Post. Originally announced four years ago, the GSA was to lease space at the new tower when complete. Combined with the recent news that the New York state Office of General Services wasn’t going to need as much space at the tower, the Port Authority will have an extra 900,000 square feet to lease.

Rooftop Plane Question Answered

July 20 – For years many have wondered about the faux World War I fighter plane atop of 77 Water Street, but it’s not a national secret as read in, the Wall Street Journal. When the William Kaufman Organization built the 26-floor office tower in 1970, the owner wanted something a little more interesting than just the regular rooftop mechanicals. As they had done at other New York City properties, they added an artist Rudolph de Harak’s interpretation of a 1916 British Sopwith Camel. The sculpture was hoisted to the roof in 1969 and has remained there since.

Landmarks Status Sought for Downtown Buildings

July 20 – Following a recent presentation by Mary Dierickx, historic preservation consultant to Community Board 1’s Landmarks Committee the group learned of the significance of two local buildings, reported the Downtown Express. 86 Trinity Place, with the façade of the American Stock Exchange and 125 Greenwich Street are two buildings which the Landmarks Committee though should be brought to the attention of the Landmarks Preservation Commission. In February 2011, both buildings were purchased for $65 million and plans were announced to tear down the Greenwich Street building and convert the old Amex building into a retail complex and 174-room boutique hotel.

MTA Chairman Walder to Resign

July 21 – The Metropolitan Transportation Authority chairman, Jay H. Walder has announced his resignation. Walder took the position in October of 2009. His resignation is effective October 21, 2011.