The owners of the tallest tower at the World Trade Center are cutting office rents just months before it opens because of slow leasing activity.
Only one private tenant has signed a lease at One World Trade Center in nearly three years: a one-floor deal with advertising firm Kids Creative that was signed last week. The 3.1-million-square-foot skyscraper, formerly named the Freedom Tower, is 55% leased. — online.wsj.com
The city of Los Angeles is considering a proposal from Councilman Bernard Parks that would pass the cost of retrofitting apartment buildings on to tenants. Currently, only 50% of major renovation costs may be passed along to tenants, with landlords and building owners paying the cost of retrofitting. — scpr.org
The creaky staircase was covered in plastic, as was the living room furniture, but the bones were still there: pressed paper wainscoting in the hall, thickly painted moldings. We often got in trouble for walking too loudly in our clompy shoes up to the top floor at night. — Alexandra Lange
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