Already approved is $1 billion in Liberty Bond financing to go toward development costs. Nearly two months ago, Andrew Alper, president of the New York City Economic Development Corp., said a $1-billion allocation for a Goldman Sachs project was among the projects "in the pipeline."
Goldman Sachs is currently negotiating a ground lease for the site through 2069 with the Battery Park City Authority, which is expected to provide for up to $13.4 million in sales tax exemptions. The company will also be eligible for Con Edison energy discounts worth an estimated $10.3 million and can apply for up to $25 million in Job Creation and Retention Program grant funds.
Last July, Goldman Sachs inked a 425,000-sf lease renewal at One New York Place in Lower Manhattan that runs through September 2009. And the company received a $173-million business incentive award to move some operations to 1.2-million-sf office tower in Jersey City. Goldman divisions are also housed in various financial district locations. The company did not respond to a request for additional information.
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