"Eight months ago we started erecting steel," Daniel R. Tishman, president and CEO of Tishman Construction Corporation began. He congratulated "the 500 construction workers" present and the "unique ability" of New York trade union workers to build in New York, which he said, "[is] the most difficult place in the world to build." He noted its presence within the Times Square community, saying it was significant that this would be the third Morgan Stanley office in the "crossroads of the world."

Morgan Stanley's Stephan Newhouse, who was named co-president, a COO and chairman of Morgan Stanley International (to be based in London) on Sept. 25 of this year, spoke also. He noted the proximity of this new building to their 750 and 1585 buildings. Newhouse compared seeing the inside of the construction site to knowing about sausages, but seeing the inside of a sausage factory for the first time. He suggested said that after the initial planning was done it "has been downhill ever since," but suggested by way of saying how pleased he was that this statement was to indicate smooth sailing and not a negative decline in the process or relationships.

The principals of the three companies, joined by Hines Interests Limited Partnership, development advisors to Morgan; Kohn Pedersen Fox, architects; Gensler, interior architects; Thornton-Tomasetti, structural engineers; Jaros Baum & Bolles, mechanical/electrical/plumbing engineers; Robert Derector Telecommunications; and Colliers ABR, a real estate brokerage service, stood around a cardboard cut-out picture of a remote control held to "start" the hoisting. The signed beam was raised with the traditional tree and flag attached and raised to the 32nd floor.