The Twin Towers were white elephants that their owner, the Port Authority of New York and New Jersey, had wanted to demolish for years but could not as the buildings were loaded with asbestos that would have cost millions to remove. Among other issues, the buildings were not wired for WIFI and the occupancy rate was below 50%. Why on earth would anyone want to lease these antiquated pieces of trash properties? Why indeed? In January 2001, Silverstein made a $3.2 billion bid to lease-purchase the World Trade Center complex. Silverstein's negotiated bid was finalized on July 24, 2001, less than 2 months prior to 9/11. The Port Authority agreed to lease the twin towers to Larry Silverstein and he agreed to pay the equivalent of $3.2 billion over the next 99 years. This was the first time in the complex's 31-year history that it had changed management. The lease agreement applied to One, Two, Four, and Five World Trade Center, and about 425,000 square feet of retail space. Silverstein put up just $14 million of his own money to secure the deal. The agreement gave Silverstein, as leaseholder, the right and the obligation to rebuild the structures if destroyed. The insurance policies for World Trade Center buildings WTC 1. 2, 4 and 5 had a collective face amount of $3.55 billion and the insurance policy he took out included protection against terrorist attacks.
@iluminatibot Almost no one used WiFi in offices in 2001. It was new technology. Even so, no old building has been demolished for lack of something so easy to install as WiFi.
@Heath_H1 @iluminatibot I think they mean wired for Internet. We didn't use WiFi in those days, we used Cat5 cable. The entire complex would need to be retrofitted with network cables. Make sense now?
@Heath_H1 @iluminatibot What about the asbestos. Was that part true.
@Heath_H1 @iluminatibot The asbestos on the otherhand is a different story. Massive cost
@Heath_H1 @iluminatibot Asbestos and 50% occupancy rate is probably what did it.
@Heath_H1 @iluminatibot The asbestos in the building presented many environmental challenges. Often times the city/ state won’t allow the work to be done.
@Heath_H1 @iluminatibot Wasn’t just the wifi did you read whole page or just wanted to hear yourself talk
They never do anything that has a 1 fold effect. This one event had a 30-50 fold effect if you start counting all of the things. How many young men enlisted on their own to volunteer to kill terrorists because of 9/11. The patriot act, Iraq war public consent, new buildings WTC, ect..