"We've got to respect the fact that to retain the businesses that were displaced, we'd move them into the building we were about to take down," he commented. "We can pretty well say that a 900-ft. tower is not a saleable transaction. We've got to wait and see--as we have committed to do with the Mayor and certainly the Mayor-elect--what the city's plans are in terms of rebuilding ground zero."
Grasso did note that plans for the headquarters building are still alive, but any new build would almost certainly entail a structure shorter than the previous plans called for in an effort to avoid being the tallest building downtown.
He also mentioned that alternative facilities must be created "if the unthinkable should ever happen again." He noted that processing sites in Brooklyn will be upgraded to serve as alternate trading venues to guarantee that "markets will resume in a short period of time."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
