2 World Trade Center

Silverstein transferred EB-5 funds from 2 WTC to Macklowe s 1 Wall Street Developer上海千花网龙凤论坛

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had secured $2.2B loan from sovereign wealth fund – then Murdoch backed out

From left: Marty Burger, a rendering of 2 World Trade Center (credit: DBOX), a rendering of One Wall Street and Harry Macklowe

When Rupert Murdoch ditched 2 World Trade Center, it threw the project s future into doubt. But it looks like there was at least one winner to emerge from the turmoil: Harry Macklowe.

Silverstein Properties had raised roughly $70 million in E上海千花网交友

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B-5 financing when Murdoch decided against moving his two companies — News Corp. and 21st Century Fox — into the building. Instead, Silverstein won approval from most of the EB-5 investors to transfer their contracts to Macklowe for his $1.5 billion office-to-residential conversion on One Wall Street, Silverstein CE阿拉爱上海同城

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O Marty Burger said during a panel at an annual NYU conference on Thursday.

Silverstein had aimed to raise a total of $500 million in EB-5 funds for the 2.8 million-square-foot project, meaning that some 1,000 investors would eac上海千花社区

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h have to contribute the permitted $500,000.

Murdoch s pullback also scuttled one of this cycle s largest constr爱上海龙凤419桑拿

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uction loans. Silverstein Properties had won a commitment for a $2.2 billion loan from an unnamed soverign wealth fund. But without an anchor tenant, that loan fell apart and the project s future remains in limbo.

In June 2015, Murdoch s News Corp. and 21st Century Fox signed a non-binding letter of intent to lease 1.3 million square feet in the planned 2.8 million-square-foot office tower. But in February the firms changed track and decided to renew their leases at 1185 and 1211 Sixth Avenue instead.

Macklowe is currently seeking a $1 billion construction loan for its conversion project, which will hold condos, rentals and a Whole Foods.

Konrad Putzier contributed reporting


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