[ILNY]

This tower will not cost $3bln, not even $2bln.
At $3bln price, it would be as much expensive as 1,362ft 1 WTC where the cost includes special security features like ultra-strong reinforced concrete and years of delays. $3bln would be more that 432 park, Nordstrom, HY North Tower and most likely One Vanderbilt. Unless it will be truly iconic 1400 footer, I do not see any bank/investor willing to lend $3bln for a tower just to wait twice as long for their return of investment if ever. Also, office/condo prices would have to be astronomical. I can imagine 3bln tower being build on 57th street, one of the most popular/expensive streets or perhaps close to WTC site but not at this location, no way. Same goes for 60+ story "Hudson Spire" . This is my opinion, waiting for more news. $3Bln number is a media magnet, most likely created for that purpose. It will be interesting to see how Frank McCourt’s is going to maneuver out of it.