Ghost Building at Ground Zero goes down: Deutsche Bank

posted by ewing2001 on Friday June 20, @03:07PM

The Mystery around the Deutsche Bank Building, which was never renovated, will be demolished

Guardian

Deutsche Bank tower near Ground Zero to be demolished

David Teather in New York
Saturday June 21, 2003
The Guardian

"...The haunting, former Deutsche Bank building known as the "widow", which overlooks the World Trade Centre site in downtown New York is to be pulled down.

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The 40-storey skyscraper has become one of the most recognisable symbols of the destruction wrought by terrorists on September 11, 2001. It earned its gruesome nickname from the shroud of black netting that has covered the facade to prevent debris from falling on to passers-by while its future was still being debated.

Despite the presence of a huge American flag hung on its front, New York governor George Pataki said that it had become a symbol of decay - "an ever present reminder of the darkest moment in our past" - and ordered that the shroud be replaced with a mural.

Residents in the area and businesses had been pressing officials to arrive at a decision on whether the building would be torn down or repaired.

The building, built in the 1970s, was severely damaged by the collapsing towers. Steel falling from the south tower tore a 24-story gash in the facade. Worse damage was done by an infestation with mould - sprinkler systems had gone off and the water had become stagnant - which made it in uninhabitable.

Deutsche Bank, which has offices in Wall Street and mid-town Manhattan, has been eager to sell the site. The bank has been locked in negotiations with its insurers, pressing the case that the building is beyond repair and should be demolished.

The insurers have until now disagreed, but the bank has finally reached agreement with the lead insurer, Chubb, that it cannot be salvaged. Another three insurers are still to agree a deal.

A spokeswoman for Deutsche Bank declined to comment on a deal and said it was still working towards a resolution. It is likely to cost $100m (£60m) to pull down, covering the cost of the removal of asbestos and other contaminants..."