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Goldman Sachs Halts Construction on Lower Manhattan Tower

Pei Cobb Freed’s 40-story, $2 billion Lower Manhattan tower for investment firm Goldman Sachs appears to be in jeopardy.

This Monday the firm halted imminent construction on the project, located on the northwest corner of Vesey and West Streets, contending that it cannot move forward until some unresolved questions about surrounding development are answered.

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The prime question, says Goldman Sachs spokesperson Peter Rose, is the location of a planned vehicular tunnel—a result of submerging West Street— that as of now appears to head right under the building’s main entrance. The location, says Rose, would be dangerous and inconvenient for pedestrians, and take away from the building’s visual impact. Other issues include questions over the Freedom Tower’s final design and location, and configurations of the World Trade Center site as a whole.

The site of the firm’s glass tower, which will consolidate its many area offices into a cohesive whole as well as giving the company greater trading spaces, is the last vacant commercial parcel in Battery Park City. It is set to be located immediately West of the Freedom Tower.

LMDC Spokesperson Joanna Rose says, “we’re working aggressively to address those concerns, and we’re confident we will be able to resolve them.”

Sam Lubell

 

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