who paid for the one world trade center
the Port Authority The State of New York
title: One World Trade Center text: at about $3 billion, or $1,150 per square foot ($12,380 per square meter). However, the tower's total estimated construction cost had risen to $3.9 billion by April 2012, making it the most expensive building in the world at the time. The tower's construction was partly funded by approximately $1 billion of insurance money that Silverstein received for his losses in the September 11 attacks. The State of New York provided an additional $250 million, and the Port Authority agreed to give $1 billion, which would be obtained through the sale of bonds. The Port Authority raised prices for bridge and title: One World Trade Center text: attempt to disguise its underlying paranoia". One World Trade Center is principally owned by the Port Authority of New York and New Jersey. Around 5 percent equity of the building was sold to the Durst Organization, a private real estate company, in exchange for an investment of at least $100 million. The Durst Organization assisted in supervising the building's construction, and manages the building for the Port Authority, having responsibility for leasing, property management, and tenant installations. By September 2012, around 55 percent of the building's floor space had been leased, but no new leases were signed for three years title: Construction of One World Trade Center text: cost for construction of 1 WTC at $3 billion, or $1,150 per square foot ($12,380 per square meter). Approximately $1 billion of insurance money recouped by Silverstein in connection with the September 11 attacks is being used for construction of the new One World Trade Center. The State of New York is expected to provide $250 million toward construction costs, and the Port Authority agreed to finance another $1 billion through bonds. In 2007, Tishman Construction Corporation of New York completed a row of steel columns at the perimeter of the construction site. Two tower crane bases were erected, each title: One World Trade Center text: until May 2014; the amount of space leased had gone up to 62.8 percent by November 2014. In 2006, the State of New York agreed to a 15-year lease, with an option to extend the lease's term and occupy up to . The General Services Administration (GSA) initially agreed to a lease of around , and New York State's Office of General Services (OGS) planned to occupy around . However, the GSA ceded most of its floor space to the Port Authority in July 2011, and the OGS withdrew from the lease contract. In April 2008, the Port Authority announced title: One World Trade Center text: insurers were subject to the "two occurrences" interpretation, referring to the fact that two different planes had destroyed the towers during the September 11 attacks. They were therefore liable for a maximum of double the face value of those particular policies ($2.2 billion). The highest potential payout was $4.577 billion, for buildings 1, 2, 4, and 5. In March 2007, Silverstein appeared at a rally of construction workers and public officials outside an insurance industry conference. He highlighted what he describes as the failures of insurers Allianz and Royal & Sun Alliance to pay $800 million in claims related to