November 17th - November 30th, 2006
Silverstein Likely to Purchase Moodys Building
Tuesday, November 21st: World Trade Center site developer Larry Silverstein and the California State Teachers' Retirement System are in the later stages of finalizing a deal with Moody's Investor Services to purchase their 11-story office building at 99 Church Street, the New York Sun reported. The deal is worth more than $150 million and the asking price is around $400 per square foot, the Sun continued. In addition to owning the lease to the World Trade Center site, Silverstein also owns office buildings at 120 Broadway and 120 Wall Street in Lower Manhattan, the Sun added. According to the Sun, it is unknown what Silverstein plans to do with those properties.
Worker Narrowly Escapes 14 Story Fall
Wednesday, November 22nd: A Lower Manhattan construction worker whose scaffolding rig fell from beneath his feet found himself hanging by the lifeline, a cable independently suspended from the roof and attached by a harness to his legs and shoulders, the New York Times reported. After crawling to safety on a 14th floor terrace, he made his way to the street where he was checked for injures by medical personnel, the Times continued. The construction worker was working on a residential building being constructed at Leonard Street and Broadway when the motor on the right side of the scaffold rig shut down and the emergency brake failed to activate, the Times added.
Possible High-Speed Ferry Between Lower Manhattan and Connecticut
Monday, November 27th: A study performed by the Bridgeport Port Authority endorses the launch of a high-speed commuter ferry between Fairfield, Connecticut, and Lower Manhattan, the Associated Press reported. The Port Authority conducted a two-year study and found that almost 80 percent of those questioned would consider using the ferry as an alternative to driving or taking the train into the city, the AP continued. The proposal to launch the ferry has won millions of dollars in promised federal grants, although Stamford, Connecticut, has yet to determine where the ferry launch site would be located, the AP added.
Downtown Holds Buried Treasure Below the Surface
Monday, November 27th: In a historic district like Lower Manhattan, it doesn't come as a surprise to find hidden treasures buried just below the street surface. For this reason, many downtown construction projects have an archaeologist on site if there is a likelihood of coming across a significant find. In 1981, archaeologists discovered a maritime ship on Water Street that had been stripped of its fittings between 1749 and 1755, chained into position, and used to hold new landfill in place with ballast of sand and cobbles. Recently, crews working to replace water mains on Beekman Street have come across quite a few significant finds -- more than 2,000 in fact. For more on this story, please click here.
City to Appeal WTC Site Ruling
Wednesday, November 29th: New York City plans to appeal a legal decision that denied its motion to dismiss lawsuits brought by Ground Zero workers against the city and private contractors, the New York Times reported. Federal Judge Alvin Hellerstein ruled that the city's immunity from liability stemming from such lawsuits is limited, claiming that the city did not provided protection from toxic pollutants at Ground Zero. The ruling would allow more than 6,000 workers to sue the city, the Times added.
Fulton Street Transit Center Walkway Included
Thursday, November 30th: After Metropolitan Transportation Authority (MTA) board members noticed that budgeting issues might threaten a planned underground walkway connecting the new Fulton Street Transit Center to the E, R, and W trains, MTA Chairman Peter Kalikow assured the public that the $15 million needed to construct the walkway would be found, Newsday reported.
Designs for the transit center include an architecturally appealing glass conical roof meant to allow natural light to reach the subway tracks, Newsday continued, adding that the roof has already been scaled back from its original height of 50 feet to 20 feet. The station, which is scheduled to be completed in October 2009, is projected to cost $850 million and will connect 12 downtown subway lines to the World Trade Center site, Newsday added.