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DCAS letter forwarding cost estimate, Feb 1998

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Letter from DCAS forwarding a February 3, 1998 construction cost estimate for the Mayor's Office of Emergency Management project.

NYC-WTC_000167324–000167325

Folder label: “OEM, 7 WTC

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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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NYC-WTC_000167324Source: NYC Law Department, mirrored locally

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