This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

No One Wants In on New WTC

By Kevin Spak, Newser Staff

Construction is finally under way on the new World Trade Center site in New York, but there's one little problem: No one actually wants space in any of the buildings.

The third tower, 3 World Trade Center, has had to halt construction at the eighth floor -- it's supposed to have 80 -- because it can't find a tenant, and can't build higher without one under the developer's deal with the city, the Wall Street Journal reports.

More from Newser
Coming From Massachusetts: Hill's First Gay Republican?
Huckabee Launches 'Chick-fil-A Appreciation Day'
Comcast Unveils $300 'Platinum' Internet

The other two towers are each roughly half-full, with 4 World Trade Center occupied mostly by government agencies and the signature One World Trade Center rented mostly by Conde Nast.

The primary culprit is an economic climate that has most of New York's financial firms contracting, not expanding into new spaces. "They're excellent office buildings," says one real estate executive. "There's just not demand."



--Written by Kevin Spak of Newser

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs