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Thread: New Goldman Sachs Headquarters - 200 West Street - by Henry Cobb of Pei Cobb Freed

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    Default New Goldman Sachs Headquarters - 200 West Street - by Henry Cobb of Pei Cobb Freed

    Dow Jones Business News
    Goldman to Build New Headquarters Near Trade Center Site
    Thursday December 4, 1:52 am ET

    It may be fashionable for Wall Street brokerage houses to move to midtown, but Goldman Sachs Group Inc. (NYSE:GS - News) is staying downtown, Thursday's Wall Street Journal reported. The company plans to build a 1.5 million-square-foot headquarters across from the World Trade Center site in lower Manhattan, according to a person briefed on the matter.

    Among the firms that fled to midtown Manhattan or New Jersey after the Sept. 11, 2001, terrorist attacks, were Lehman Brothers Holdings Inc., which moved its operations to midtown from the World Financial Center, and Morgan Stanley, which had operations in the Trade Center and relocated hundreds of staff to midtown and elsewhere. Adding to the pressure on downtown real estate, the financial- services industry -- downtown's historic anchor -- was hit hard by the tanking stock market, and layoffs numbered in the thousands.

    Goldman is pushing ahead with plans to build downtown because it is facing lease expirations on three of the buildings it occupies in the area, including its headquarters on Broad Street, according to the person familiar with the firm's thinking.

    Vacancies in the downtown market stood at 13% for the third quarter, more than double the number before Sept. 11, according to Cushman & Wakefield, a New York commercial real-estate services company, but the availability rate (which includes extra space companies are trying to sublease) is 3% to 4% higher.

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    The company plans to build a 1.5 million-square-foot headquarters across from the World Trade Center site in lower Manhattan, according to a person briefed on the matter.
    Where? Site 26 in BPC?

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    Terrific News! Their tower in Jersey was originally supposed to be 1000 feet. This is among the most recent of corporate schemes to fulfill a function but presumably more a symbolic gesture, the other being 1 New York Place.

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    Which raises the question; why not 7WTC?

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    Quote Originally Posted by ZippyTheChimp
    The company plans to build a 1.5 million-square-foot headquarters across from the World Trade Center site in lower Manhattan, according to a person briefed on the matter.
    Where? Site 26 in BPC?
    It has to be. The only other potentially open site "across from the WTC" would be the DB site, but why would they want to get tied up in that insurance litigation? Anyway, three gold stars for Goldman (with a one star deduction for moving their back offices to Jersey City). And hopefully, other financial firms will be lining up to lease Goldman's excellent existing space on Broad Street.

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    Quote Originally Posted by Stern
    Which raises the question; why not 7WTC?
    Because Goldman would need the whole building, and my guess is that Silverstein had already lined up tenants for much if not most of the new space.

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    Yeah!!! More buildings in lower Manhattan!!

    Hoo Ha!

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    ALLRIGHT!!! This is great news for the city. Downtown seems to be coming back after 911. If Goldman Sachs Group Inc. take this cool big step to built their headquarters in downtown, it will sure make it easy for other companies to reconcider Lower Manhattan.

    Building a Headquater building is a big deal as opposed to just leasing space in a building. They will stay there for years to come.

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    Well they sure aren't afraid to build big.
    Good good news!

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    Out of nowhere another skyscraper downtown - west of the Freedom Tower no less. Great news for Downtown and the Downtown skyline.

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    Because Goldman would need the whole building, and my guess is that Silverstein had already lined up tenants for much if not most of the new space.
    We haven't heard wether a tenant has signed on to space at 7WTC, right now Silverstein is building "7" a 1.7 millions square foot tower, purely speculatively.

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    There is a possibility this is related to One New York Place, however Im building this purely on speculation...lol.

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    Yes, we need more info.

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    Moderator NYatKNIGHT's Avatar
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    Why not occupy one of the five WTC towers?

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    The construction timetables of the last 4 are unpredictable, building it yourself is much easier. (not really, but faster)

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