By Kaitlin Ugolik ( April 30, 2014, 6:51 PM EDT) -- The Port Authority of New York and New Jersey is reportedly seeking an ownership interest in 3 World Trade Center from Silverstein Properties in exchange for more than $1.2 billion in potential financing. The parties are currently in negotiations for the financing, a vote on which was recently rescheduled for early May. Port Authority executives noted in a recent presentation before the board that they would seek a profit-sharing structure with the deal, but did not give specific details. Crain's reported that this might translate to the Port Authority owning at least a minority stake in the completed tower....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
A Law360 subscription includes features such as
- Daily newsletters
- Expert analysis
- Mobile app
- Advanced search
- Judge information
- Real-time alerts
- 450K+ searchable archived articles
And more!
Experience Law360 today with a free 7-day trial.