Fired contractor can still make millions in Deutsche scrap
The Bronx contractor booted off the Deutsche Bank tower job for incompetence stood to pocket extra millions by selling off all the scrap metal stripped from the damaged tower.
Under its deal with the Lower Manhattan Development Corp., the state agency that owns the building, John Galt Corp. was allowed to sell off any metal taken from the tower damaged in the Sept. 11, 2001, attacks.
At the current price of about $255 a ton, John Galt would have pocketed nearly $4.6 million in profit merely by cleaning off and selling the building's 18,000 tons of scrap metal - on top of the tens of millions for the demolition.
State officials refused to answer questions yesterday about how much scrap Galt has already sold off. In the past five months, the firm has removed 10 floors off the top of the building.
Officials would confirm only that the contractor is allowed to sell off any scrap it recovers and cleans, from steel beams to air conditioning units.
"The metals are being recovered and recycled, including the building mechanical equipment such as pumps, chillers, etc.," the LMDC told the Daily News.
The agency said the "value of the metal on recovery goes to the contractor to offset the cost of demolition." It would not say whether John Galt's profits from the scrap metal were able to lower the cost to taxpayers.
|