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Negotiators fail to agree on sale of World Trade Center
Months-long negotiations over the sale of New York`s landmark World Trade Center were broken off after Vornado Realty Trust refused to put up $ 100 million as a good faith gesture in the 3.25 billion-dollar deal, a report said.
Months-long negotiations over the sale of New York's landmark World Trade Center were broken off after Vornado Realty Trust refused to put up $ 100 million as a good faith gesture in the 3.25 billion-dollar deal, a report said.
The deposit was one of several sticking points that prevented the port authority of New York and New Jersey, which manages the 110-story twin towers, to sell the building, The New York Times reported. The authority said exclusive talks would now be open to second- placed bidder Silverstein Properties, one of the major US real estate companies.
The World Trade Center is the largest office complex in the United States. Located at the southern end of Manhattan Island, it was bombed by terrorists in 1993 but did not sustain irreparable damage. Bureau Report
The deposit was one of several sticking points that prevented the port authority of New York and New Jersey, which manages the 110-story twin towers, to sell the building, The New York Times reported. The authority said exclusive talks would now be open to second- placed bidder Silverstein Properties, one of the major US real estate companies.
The World Trade Center is the largest office complex in the United States. Located at the southern end of Manhattan Island, it was bombed by terrorists in 1993 but did not sustain irreparable damage. Bureau Report