NYC 9/11 Public Portal Document
DEPARTMENT OF CITYWIDE ADMINISTRATIVE SERVICE
DIVISION OF REAL ESTATE SERVICE
MUNICIPAL BUILDING. - Room 2053S
NEW YORK, N.Y. 10007
(212)669-3640 Fax (212) 669-2666
WILLIAM J. DIAMOND LORI FIERSTEIN
Commissioner Deputy Commissioner
February 11,1998
Mr. Conan Freud
Assistant Director
Office of Management & Budget
75 Park Place, 9* floor
New York, New York 10007
Re: OEM, 7 WTC
Dear Mr. Freud,
Pursuant to your discussions with First DC Iris Weinshall and me, I am forwarding to you a copy
of the February 3, 1998 cost estimate developed by Ambassador Construction (Silverstein’s
designated CM) for the referenced project.
The construction estimate totals $10,879,068, however, it contains many clarifications,
exclusions, and does not have a contingency. In addition, the fees for general conditions,
overhead & profit, and financing have not been negotiated. The estimate was given to us without
any detail or backup (which Ambassador does not have) so that we may evaluate it’s merits.
Based on the Ambassador estimate the project cost could be:
Construction Costs $10,879,068
Financing Costs $ 500,000
Furniture Costs $ 1,500,000*
Telephone & Communication Costs $ 1,000,000*
Cooling Tower on Roof $ 650,000
Security System $ 100,000
Sales Tax $ 500,000
Mise. & Contingency $ 1,500,000
A & E fees $ 750,000
Subtotal $17,379,068
-Minus Landlord contribution $2,252,925
Total City Costs $15,126,143
* Preliminary numbers subject to discussions with OEM.
NYC-WTC_000167324
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