The future of WTC, and the state of Downtown as a whole, will be spotlighted on May 13 at RealShare Downtown New York.
The bank has a 90-year lease with the Port Authority of New York and New Jersey for the spot where the former Deutsche Bank building now stands near Ground Zero. The firm had expected to construct and occupy a 1.3-million-sf tower on the site, as GlobeSt.com previously reported.
Published reports say that JPMorgan spokesman Joe Evangelisti explained that the bank plans instead to move employees to the 383 Madison Ave. skyscraper that houses Bear Stearns' offices. Evangelisti said alternate uses would be considered. Evangelisti and JPMorgan media spokespersons did not return GlobeSt.com queries before deadline.
Although reports say that the Port Authority of New York and New Jersey believes JPMorgan's commitment to the WTC is unchanged, calls to the Port Authority regarding that were also not returned by deadline.
As GlobeSt.com reported, JPMorgan acquired Bear Stearns for a stock-for-stock exchange. Based on the closing price of March 14, the transaction would have a value of approximately $2 per share. The transaction is expected to have an expedited close by the end of the calendar second quarter 2008.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
