RE Rumor Mill: Port Authority, Park 51, Atlas Capital

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....

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