NYC 9/11 Public Portal Document
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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 I. DIAMOND LORI FIERSTEIN
Commusioncr Deputy Commissioner
Fcbrt.iry 11,1998
Mr. Conan Freud
Assistant Director
OfiBo: of Management & Budget
75 Park Place, 9* floor
New York, New York 10007
Rc: OEM, 7 WTC
Dear 'dr. Freud,
Pursujint 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 ■ O Y.
Security System $ 100,000
Sales Tax $ 500,000
/ 5*00 o
___ A?
Subtotal $17,379,068 , AY?
-Minus Landlord contribution $ 2.252.925 / , , '
Total City Costs $15,126,143
♦ Preliminary numbers subject to discussions with OEM.
NYC-WTC_OO0167629
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