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AccessMyLibrary    Browse    D    Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)    APR-01    Deal Approved to Sell New York's World Trade Center for $3.2 Billion.

Deal Approved to Sell New York's World Trade Center for $3.2 Billion.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 27-APR-01
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COPYRIGHT 2001 Daily News

Byline: Eric Herman

Apr. 27--After tense, all-night negotiations that continued until minutes before the start of its board meeting, the Port Authority of New York and New Jersey yesterday approved a deal to hand over the World Trade Center to developer Larry Silverstein and his partners for $3.21 billion.

The Port Authority will get a down payment of $616 million and annual lease payments estimated at more than $200 million.

"This transaction is the largest of...

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