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Hands Off Silverstein's Lease!
September 13th, 2007

In a new editorial for the conservative City Journal, Nicole Gelinas writes that a real estate slump would hurt Lower Manhattan’s rebound much more than it would Midtown.

Developers in Midtown could simply just not build until the market swings around again, she writes. But developer Larry Silverstein would have no such luck with his property in Lower Manhattan because of restrictions in his lease with the Port Authority as well as public perception, “particularly since many politicians and media outlets would love to see him fail.”

With her ever weary view of government, she hopes politicians will recognize the cyclical nature of the economy if a downturn comes and restrain themselves from “tinkering” with Silverstein’s lease.

Her piece came on the heels of a feature on the developer on ABC’s Nightline.

By Mike Muller on September 13, 2007, 6:42 am
In category: Economy, Land Use | No Comments »

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