The Freedom Tower

Real estate big wigs in Manhattan are predicting a financial disaster on the site of the fallen Twin Towers – Freedom Tower.
That’s the opinion of a handful of Manhattan’s best-known real estate executives now that the $2.88-billion (U.S.), 2.6-million-square-foot office skyscraper has been approved to replace the World Trade Center,” says Bloomberg News Service “By the time the 90-storey landmark is scheduled to open in 2012, about 40 per cent of the space will be leased at a rate that won’t cover construction costs.
“The Freedom Tower isn’t economically feasible under the present circumstances,” said Douglas Durst, a third-generation New York developer whose company is building Bank of America Corp.’s new offices in midtown Manhattan.
Bloomberg News is owned by New York City Mayor Bloomberg.