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In 2010, the Durst Organization bid on and won the right to invest $100 million in the [[One World Trade Center]] development becoming a co-developer with the [[Port Authority of New York and New Jersey]].<ref name= NYT1>David W. Dunlap,[http://cityroom.blogs.nytimes.com/2012/06/12/1-world-trade-center-is-a-growing-presence-and-a-changed-one "1 World Trade Center Is a Growing Presence, and a Changed One"], nytimes.com, June 12, 2012.</ref> |
In 2010, the Durst Organization bid on and won the right to invest $100 million in the [[One World Trade Center]] development becoming a co-developer with the [[Port Authority of New York and New Jersey]].<ref name= NYT1>David W. Dunlap,[http://cityroom.blogs.nytimes.com/2012/06/12/1-world-trade-center-is-a-growing-presence-and-a-changed-one "1 World Trade Center Is a Growing Presence, and a Changed One"], nytimes.com, June 12, 2012.</ref> |
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The contract negotiated between the Port Authority and the Durst Organization specifies that the Durst Organization will receive a $15 million fee and a percentage of "base building changes that result in net economic benefit to the project." The specifics of the signed contract give Durst 75 percent of savings up to $24 million and stepping down thereafter (to 50 percent, 25 percent and 15 percent) as the savings increased. Durst had offered to work for a fixed $35 million fee, but the Port chose the incentive fee arrangement. Significant changes to the building have been made since his joining of the project |
The contract negotiated between the Port Authority and the Durst Organization specifies that the Durst Organization will receive a $15 million fee and a percentage of "base building changes that result in net economic benefit to the project." The specifics of the signed contract give Durst 75 percent of savings up to $24 million and stepping down thereafter (to 50 percent, 25 percent and 15 percent) as the savings increased. Durst had offered to work for a fixed $35 million fee, but the Port chose the incentive fee arrangement. Significant changes to the building have been made since his joining of the project,<ref name=NYT1/> |
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===Bank of America Tower – One Bryant Park=== |
===Bank of America Tower – One Bryant Park=== |
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