IN HISTORIC SHIFT, PORT AUTHORITY PUTS WORLD TRADE CENTER ON THE MARKET
FOR IMMEDIATE RELEASE , September 24, 1998
The Port Authority Board of Commissioners voted today to put the World Trade Center on the market, seeking a private operator under long-term lease for the worldís largest commercial office complex and the tallest and best known structure on the New York City skyline. Port Authority Chairman Lewis M. Eisenberg announced the decision today.
The historic move, carried out at the direction of Governors George E. Pataki and Christine Todd Whitman, follows an exhaustive analysis of options for the 16-acre complex, according to Chairman Eisenberg. The Port Authority built the complex, which includes four office buildings and a hotel in addition to the 1,350-foot-tall twin towers, and has operated it since 1970, when the first tenants moved in.
Port Authority Chairman Eisenberg said, ìThe Port Authority has made the philosophy of Governors Whitman and Pataki a reality in our daily operations. To run the busiest terminal at Kennedy Airport, we reached out to a world-famous private sector manager. We are returning Port Authority industrial parks to the private sector. And today, we are applying that philosophy to one of the largest real estate transactions in the history of New York.î
Port Authority Vice Chairman Charles A. Gargano said, ìPrivate sector management means that the World Trade Centerís role as a generator of jobs and economic activity will be even stronger. The 40,000 people who work there, in more than 400 firms from over 25 countries, are a vital part of New Yorkís links to the global marketplace. Their wages and salaries, and their technical know-how, contribute vastly to the regional economy. The retail shopping mall has drawn shoppers to downtown, and stimulated residential development. And the World Trade Center is one of the biggest tourist attractions in a city with overwhelming appeal to tourists. continued →
The Port Authority Board of Commissioners voted today to put the World Trade Center on the market, seeking a private operator under long-term lease for the worldís largest commercial office complex and the tallest and best known structure on the New York City skyline. Port Authority Chairman Lewis M. Eisenberg announced the decision today.
The historic move, carried out at the direction of Governors George E. Pataki and Christine Todd Whitman, follows an exhaustive analysis of options for the 16-acre complex, according to Chairman Eisenberg. The Port Authority built the complex, which includes four office buildings and a hotel in addition to the 1,350-foot-tall twin towers, and has operated it since 1970, when the first tenants moved in.
Port Authority Chairman Eisenberg said, ìThe Port Authority has made the philosophy of Governors Whitman and Pataki a reality in our daily operations. To run the busiest terminal at Kennedy Airport, we reached out to a world-famous private sector manager. We are returning Port Authority industrial parks to the private sector. And today, we are applying that philosophy to one of the largest real estate transactions in the history of New York.î
Port Authority Vice Chairman Charles A. Gargano said, ìPrivate sector management means that the World Trade Centerís role as a generator of jobs and economic activity will be even stronger. The 40,000 people who work there, in more than 400 firms from over 25 countries, are a vital part of New Yorkís links to the global marketplace. Their wages and salaries, and their technical know-how, contribute vastly to the regional economy. The retail shopping mall has drawn shoppers to downtown, and stimulated residential development. And the World Trade Center is one of the biggest tourist attractions in a city with overwhelming appeal to tourists. continued →
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