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Office Glut at Ground Zero

Published Saturday, January 01, 2005

In December, World Trade Center leaseholder Larry Silverstein claimed his first legal victory after 38 months of sparring with insurers over whether or not 9/11 was one or two occurrences. The jury's decision that the attacks were two events will give the 72-year-old developer as much as $4.6 billion of insurance money, enabling him to replace up to 5 million sq. ft. of speculative office space on the site. The decision could also clear the way for five new office towers to be developed around Ground Zero in a larger plan that could cost as much as $9 ...

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