JT Magen Replaces Gilbane Building on One Wall Street Project

Macklowe Properties and Gilbane Building have said the companies have reached a "logical separation point" for the NY construction project

The Real Deal

By Kathryn Brenzel

Macklowe Properties is replacing Gilbane Building as the lead construction team on the One Wall Street office-to-residential conversion construction project. JT Magen & Company will take over the $1.5 billion project.

Macklowe and Gilbane reached a "logical separation point," according to the two companies. Both companies also said Gilbane's work on the project was over the past year was both "high-quality and safe".

Gilbane had been criticized for its use of nonunion subcontractors and labor. JT Magen has traditionally relied on union labor but has not determined if it will exclusively use union labor for the One Wall Street project.

(more on Gilbane's replacement on One Wall Street construction project...)