Mamdani cant slow hot commercial market

What a week it was!Manhattan saw three major actions that gave confidence in the commercial market no matter what “socialist” fantasies Mayor Zohran Mamdani throws at it.Most visibly, ground was broken for the new Amex tower at Two World Trade Center — portending the guaranteed if belated completion of the whole WTC site.Meanwhile, full-scale demolition began for 350 Park Ave.the 1,414 foot-tall skyscraper developed by Vornado, Rudin and Ken Griffin.And, also remarkably, Airbnb bought 281 Park Ave.

South for $81.5 million.The three situations reflect a commercial economy stronger than any impediments, delays or political resistance.The saga of 2 WTC is too well known.The start of construction by Silverstein Properties, which is building the tower for Amex, caps a two-decades struggle to create an all-new World Trade Center, which many elected officials and most of the media opposed for years after 9/11.After the success of the other new towers finally made the obstructionists back off, Larry Silverstein, who’s now 96, had to start over when two potential anchor tenants backed out.

The Amex deal is a personal triumph for him in the face of political and bureaucratic resistance and bad luck.The groundbreaking ceremony drew not only executives of Amex, Silverstein and the Port Authority, but even Mamdani, who wielded a shovel with the others.The mayor weighed in with rare praise for a private-sector project, saying, “I am proud to welcome American Express’s new global headquarters to Lower Manhattan.

This is not just a sign of confidence in the future of our city — it is an investment in thousands of good jobs, the local economy, sustainability and the final piece of the rebuilt World Trade Center.”Wow!In Midtown, demolition for 350 Park Ave.strongly suggests Griffin means to go ahead with his nearly 1 million square-foot lease commitment for two of his Citadel companies at the project, despite his justified fury at Mamdani for dissing him over his ...