GlobeSt.com UPDATE: Goldman Sachs Breaks Ground on Downtown HQ

NEW YORK CITY-Ground has broken on Goldman Sachs approximately two-million-sf world headquarters in Lower Manhattan. The 43-story site will be constructed on the last available commercial parcel in Battery Park City on West Street between Vesey and Murray streets. It is scheduled to be completed and occupied in 2009.

The building will house the firm’s investment banking, investment management and trading operations. Approximately 9,000 Goldman Sachs employees will work in the city and the company expects to add 4,000 jobs in the years to come. The project, which is estimated to cost nearly $2 billion, would be the first development of headquarters space in Lower Manhattan in 16 years. Designed by Henry N. Cobb of Pei Cobb Freed & Partners, the building will rise to a height of approximately 740 feet. For previous coverage, click here.