Tour of the new WTC7
Thursday, October 11th, 2007This past Saturday, I had the opportunity to spent time at the new 7 World Trade Center. The New York Academy of Sciences (NYAS) held tours of their office on the 40th floor. There was also a special talk on Saturday about the lighting features of the building. I have now posted photos from the tour, as well as some from last year from a visit to the 45th floor, where there was a photography exhibit. The 45th floor was, and I think still is unfinished. Various other photos of the building are also included.
This is the entrance to the NYAS office on the 40th floor:

WTC7 - more photos
Costs
I think it’s useful to see the 45th floor (unfinished) compared to the 40th floor (finished). It cost $700 million for Larry Silverstein to build the new 7 WTC, but that’s with all the floors unfinished. What’s not figured in that price tag is that each floor needs to be finished and set-up for whatever needs the tenants have. The designers/architects who finished the space for the NYAS were on hand on Saturday. They explained that it cost $12 million to finish the 40th floor for the NYAS. In all, there are 42 floors of space to lease in the building. (along with the mechanical space used by Con Edison)
$12 million * 42 = $502 million.
$700 million (cost of the building) + $502 million = $1.3 billion
Silverstein received $861 million from insurance on the old building, however he had $400 million remaining in mortgage to pay off for the old building. He was left with $461 million. And, he still has to pay the the ground lease for WTC7 and the rest of the complex. ($102 million annually) - that’s $612 million since 9/11/2001
Also, it cost $1.4 billion to restore the adjacent Verizon Building, which was heavily damaged by the collapse of WTC7. Fiterman Hall, located next to WTC7, is currently undergoing deconstruction, and will be replaced with a new building. I’m not sure how much all that costs.
Do the math. In all, very substantial costs involved due to the collapse of WTC7, rather than people making a profit from insurance proceeds.
Anyway, the photos are posted here: (be patient for the page to load all images)
- WTC7 - gallery
Same photos are also posted on Flickr (this may be faster):
- WTC7 - Flickr set
