Leasing submission report for 7 World Trade Center, Oct 1997

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A six-page report detailing leasing negotiations and building sale updates for the Mayor's Office of Emergency Management at 7 World Trade Center.

NYC-WTC_000171020–000171025

Folder label: “Bi-weekly/Monthly submission®Leasing 10/1/97”

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NYC 9/11 Public Portal Document

Bi-weekly/Monthly submission Leasing 10/1/97

OEM at 7 World Trade Centei

^et-with-thrlShdford’s architect, Swanke Hayden Connell, to review their proposals and expects a revised proposal, including consultants fees for telecommunications, computer and audio-visual consultants, in the next week. Once the fees are agreed upon, the plans can be prepared. The Law Department is preparing a License Agreement to indemnify the landlord for part of these costs if the City does not sign the proposed lease. Since there have been delays in engaging an architect, we will need to make up the lost time to ensure the plans are ready for lease attachment when the lease is projected to be signed in January. We will be meeting with the landlord and Swanke Hayden Connell to review the schedule for the preparation of the plans to ensure a timely completion.

DC AS has been informed that the building has been sold and that the closing will occur in early November. The current landlord will not finalize the lease, leaving it to the new landlord to sign. We have requested a meeting with the new landlord to discuss the lease. We have been given the impression that the new landlord will accept the terms of the proposed lease. Due to this change in ownership and the related delays in finalizing the lease, we now project executing the lease in December 1997.

ACS lease at 119 W.31st Street

The ACS sublease at 119 West 31* Street for ACS’ OCACM expired on September 30, 1997. Due to the delays finalizing the plans at 150 William Street, we have been forced to negotiate a short term lease with the over landlord at 119 West 31* Street as the renovations at 150 William Street are now projected to take another year. Although ACS only occupies five floors of 62,370 square feet the original sublease was for 97,370 square feet and the City would potentially be liable for a holdover rent for the entire space. Also, the landlord claims to have long term teases with other tenants for three of the floors ACS currently occupies. Due to ACS holding over after our lease expired, the City could be held liable for damages for the landlord’s loss of these leases. We have been successful in negotiating a one year lease with the over landlord which provides for ACS to continue to occupy its current space for another month, but they will need to move three of their floors to two other floors in the building by November 1*. The new lease with the over landlord should be signed and approved at a real property public hearing by December 1997.

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NYC-WTC_000171020

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NYC-WTC_000171020Source: NYC Law Department, mirrored locally

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Bi-weekly submission regarding OEM at 7 WTC, Sept 1997 · Box 7DCAS

NYC-WTC_000170925

Status update dated September 1997 regarding architect costs and lease negotiations for the Mayor's Office of Emergency Management.

4 shared non-person entities · 1 shared topics · Same agency, volume and box · similarity 0.991