NEW YORK | 220 Central Park So.| 952 FT | 70 FLOORS [Archive]

RobertWalpole

Mar 28, 2011, 2:20 PM

A Knisett-style battle for control of this site is brewing between Barnett and Roth. The Yom Kippur War may look tame by comparison!

http://therealdeal.com/newyork/articles/vornado-s-latest-headache-at-220-central-park-west-holdout-gary-barnett-of-extell-development-who-is-the-leaseholder-on-the-parking-garage-below-is-refusing-to-be-bought-out

Roth's latest 220 CPW headache: Gary Barnett
March 28, 2011 09:30AM
Gary Barnett Developers Steven Roth and Gary Barnett are set to face off at 220 Central Park West, a 1950s-era apartment building that Roth's Vornado Realty Trust has been planning to demolish and replace with a 41-story, $400 million condominium tower for more than five years. But Barnett, president of the increasingly powerful Extell Development, is the leaseholder on the parking garage below, and so far he's refusing to be bought out, according to the Wall Street Journal. In December, Vornado agreed to pay $40 million to buy out the remaining 26 rent-regulated tenants at the 124-unit building, which it acquired with the Clarett Group for $131 million in 2005. Barnett, who has operated the garage for the past few years, has about six years left on his lease. Vornado may still be able to build at 220 Central Park West if Barnett continues to rebuff the company's buyout efforts, but that would make it a much more expensive project, sources said. Barnett also owns a neighboring lot on 58th Street -- adjacent to another Vornado-Clarett building at 229 West 58th Street -- and has already filed plans to build an 18-story apartment building on that site. [WSJ]

NYguy

Mar 28, 2011, 2:22 PM

http://online.wsj.com/article/SB10001424052748703576204576226990922583306.html

Vornado Project Hits Hard Spot

http://si.wsj.net/public/resources/images/NY-AW015_EXTELL_DV_20110327193611.jpg

http://si.wsj.net/public/resources/images/NY-AW024_EXTELL_G_20110327194257.jpg

By ELIOT BROWN
March 28, 2011

Just when developer Steven Roth thought he had cleared his biggest hurdle for a planned new skyscraper on Central Park's southern edge, here comes Gary Barnett.

For more than five years, Mr. Roth's Vornado Realty Trust has been trying to clear out the renters in its 20-story apartment building at 220 Central Park South. The goal was to knock down the building and erect a soaring luxury condo tower with sweeping views of the park in its place. Vornado agreed in December to spend $40 million paying off the remaining apartment tenants, who are now moving out.

But Vornado has a final and unlikely holdout: Mr. Barnett, the rival developer and president of Extell Development Company.

A few years ago, Mr. Barnett bought the lease to the parking garage in the white-brick apartment building, according to people familiar with the situation. Mr. Barnett has thus far rebuffed the attempts of Mr. Roth to purchase the lease, the people said.

While talks continue between the parties, Extell's continued hold on that underground garage's lease would block, or greatly complicate, Vornado's attempts to demolish the 1950s building.

Mr. Barnett's strategy remains unclear. But holdouts often succeed in extracting big payments from developers eager to break ground. Mr. Barnett also owns an adjacent property and has expressed a desire to develop in the area.

"I have the greatest respect for Vornado and its team of executives," Mr. Barnett said Sunday in a statement. "We hope to resolve any issues concerning these buildings in a mutually satisfactory manner."

Battles between developers and holdouts are common in the bare-knuckled culture of New York real estate, often tying projects up for years. The Durst family, for instance, waited more than three decades to buy out the last property owners for a site on 42nd Street and Sixth Avenue and develop the Bank of America tower.

Rarely, however, do the fights involve high-profile developers at opposite sides of the table. Vornado is one of the city's largest office landlords, built up over the past 30 years by Mr. Roth, a hard-charging negotiator. Mr. Barnett, a former diamond trader, is among the city's most active developers and is currently building a 75-story high-end hotel and apartment tower across from Carnegie Hall.

Vornado, along with development partner Clarett Group, bought the 124-unit building at 220 Central Park for $131 million in 2005. The developers planned a 41-story condo tower to rise in its place. Central Park is prime real estate, and new apartment buildings aren't built there very often. Vornado's latest quarterly regulatory filing put the development's cost at between $400 million and $425 million.

Soon after Vornado bought it, the project ran into resistance from rent-regulated tenants in the building. They sued in 2007, arguing that Vornado hadn't followed the law for removing them.

The legal challenge dragged on until December 2010, when the remaining tenants settled. Vornado spread $40 million to buy out renters of 26 units, according to property records.

Mr. Barnett remains. His lease lasts about six more years, people familiar with the matter said.

Mr. Barnett's ownership of a neighboring lot on 58th Street could factor into negotiations. He has filed plans with the Department of Buildings for a permit to construct an 18-story apartment building there. That lot is sandwiched by another property owned by Vornado and Clarett, a small building at 229 West 58th Street.

If Mr. Barnett doesn't budge, Vornado might be able to still erect its building over the existing garage. But it would be much more expensive, if even possible.

This isn't the first time Mr. Barnett has butted heads with a heavyweight in New York City real estate. A decade ago, he unsuccessfully sued to block construction of the New York Times tower on 41st Street after the state tried to seize land owned by Mr. Barnett for the Forest City Ratner project. And in 2005, he made an unexpected bid to the M.T.A. in an attempt to offer an alternative to another Forest City project, the Atlantic Yards basketball arena and housing development in Brooklyn.

It also isn't the first time the Columbus Circle neighborhood has seen a clash of the real estate titans. Last year, Stephen Ross, chairman of the Related Companies, made an unsuccessful hostile bid to foreclose on and demolish 1775 Broadway, a building a block away owned by large landlord Joseph Moinian.

Obey

Mar 28, 2011, 9:34 PM

Great location, thats for sure

RobertWalpole

Mar 28, 2011, 11:36 PM

scalziand

Mar 28, 2011, 11:53 PM

I have difficulty imagining how a tall tower at this sight would not interfere with Barnett's site at 225 w57th.

RobertWalpole

Mar 29, 2011, 7:02 PM

Here are the adjacent lots on W58th St.:

LOFTER1
http://wirednewyork.com/forum/showthread.php?t=10481&page=3
http://wirednewyork.com/forum/attachment.php?attachmentid=6781&d=1232032716

Obey

Mar 29, 2011, 10:20 PM

If the air rights from Barnett's adjacent sites are added, I wonder if we can get another 900 footer! It's in Barnett's interest to be a partner on this site and ensure that a very slender tower is built which does not interfere with views from Carngie 57 or from 225 W57th.

If this gets built then Tower Verre better get built because, if I recall, a huge arguement was that Tower Verre would cast an, arguably, huge shadow on Central Park and now your saying a possible 900 footer right on Central Park! Hopefully the NIMBYs will give up.

599GTO

Apr 11, 2011, 11:44 PM

Any news on this?

Cant wait until this ugly pos is razed.

NYguy

Apr 19, 2011, 2:14 PM

http://dcrealestate.citybizlist.com/5/2011/4/17/Vornados-Steven-Roth-Eliminating-Freddie-Fannie-a-Mistake.aspx

In 2005, we acquired for $131.5 million the rent-stabilized residential building located at 220 Central Park South. David recently achieved a milestone here by reaching agreement, in a court supported process, to buy out all the remaining rent-stabilized residential tenants. There remains one commercial tenant.

This wonderful Central Park fronting condo site continues to be a work in progress.

A similar building on this site was to be Merrill Lynch's headquarters, but that's a tale for another day.

tommaso

Jun 12, 2011, 8:38 AM

How far along is 220 Central Park South?

RobertWalpole

Dec 14, 2011, 6:17 PM

Permits to erect the sidewalk bridge were filed recently, and demolition will start in January.

yankeesfan1000

Dec 14, 2011, 10:49 PM

Been said before, but such a prominent spot deserves something beautiful. Can't wait for more news, thanks RW.

THE BIG APPLE

Dec 14, 2011, 11:13 PM

I believe this'll be the tallest building on Central Park South, but not 59th Street. I hope Mr. Pelli gives us something amazing like the WFC. I want something similar to the the prewar buildings on CPS, and a crown like WFC wouldn't hurt.

RobertWalpole

Dec 14, 2011, 11:28 PM

I took a quick look on Acris and some air rights from the neighboring, adjacent buildings, all of which are empty, were recently transferred to 220 CPS.

RobertWalpole

Dec 15, 2011, 2:38 AM

As per ACRIS, Extell owns 225/227 W58th, which is directly to the west of the back of 220 CPS.

http://a836-acris.nyc.gov/Scripts/DocSearch.dll/ViewImage?Doc_ID=2010031900369003

As per ACRIS, Vornado, the developer of 220 CPS, owns the next parcel, 229 W58th.

http://a836-acris.nyc.gov/Scripts/DocSearch.dll/BBLResult

Crawford

Dec 15, 2011, 2:45 AM

I have also heard that Vornado has purchased addiional air rights, so I'm assuming this will be a much taller tower than initially proposed.

I think Vornado was also negotiating with Extell for some of their rights on the adjacent plot.

We'll see once the new building permits start posting.

RobertWalpole

Dec 20, 2011, 4:29 AM

Here's a demolition permit that was filed on 19 Dec 2011:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=120921930&passdocnumber=01

RobertWalpole

Dec 27, 2011, 11:27 AM

Something is happening here, but it's not clear what is.

DOB filing on 19 Dec. 2011:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=120921930&passdocnumber=01

NYguy

Dec 28, 2011, 7:57 PM

I have also heard that Vornado has purchased addiional air rights, so I'm assuming this will be a much taller tower than initially proposed.

With the higher profile developments in the area, that would help this one stand out more, though its already a good location.

sbarn

Dec 28, 2011, 10:15 PM

I really hope they do a quality job on this one along the lines of 15 Central Park West, and not a boring glass box. It seems like such a prominent location would lead to a tasteful design.

THE BIG APPLE

Dec 29, 2011, 12:40 AM

At near 600 feet it will already steal the spotlight from One 57, because it's closer to the park. But if it goes to near 700 feet then it will be close to blocking One 57. At the proposed 577 feet it's already the tallest building on CPS (not 59th st). The architect has not choice but to do a quality job, like 15 CPW, because just look at all the buildings on CPS. Although it's not guaranteed if the developer and architect will listen to CPS and us.

BTW Vornado is known for glass buildings. They have very few classical buildings they own in D.C and NYC, and to my recollection they haven't built any in that style (only glass boxes). Surprisingly I haven't seen many Vornado residentails either. They're mainly office.

scalziand

Dec 29, 2011, 4:00 AM

220 is in front of 225w 57, not One 57.

THE BIG APPLE

Dec 29, 2011, 5:50 AM

^ From some angles along the western portion of Central Park it will.

NYguy

Dec 29, 2011, 9:20 AM

I really hope they do a quality job on this one along the lines of 15 Central Park West, and not a boring glass box. It seems like such a prominent location would lead to a tasteful design.

I would say its likely to be glass.

sbarn

Dec 29, 2011, 5:29 PM

I would say its likely to be glass.

You're probably right, let's just hope for a quality design in such a visible location. I'm still (I guess not-so) secretly hoping for something other just a boring plain glass curtain wall.

RobertWalpole

Jan 12, 2012, 3:23 AM

Filed on 11 Jan. 2012:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=120914831&passdocnumber=01

RobertWalpole

Feb 22, 2012, 10:11 PM

The following was filed on 22 Feb. 2012 with the DOB in connection with demolition:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=120983775&passdocnumber=01

THE BIG APPLE

Feb 22, 2012, 11:59 PM

Since it's a Cesar Pelli building, and he usually gives us a nice crown, and it is CPS, we should expect a nice Post Modern building.

RobertWalpole

Feb 23, 2012, 12:56 AM

These apartments will be very expensive, so something nice should rise here.

THE BIG APPLE

Feb 23, 2012, 2:39 AM

^ It has sweeping unblocked views of Central Park, (at 500+ feet). So they have a right to be expensive. I trust Pelli to give us a (WFC/Petronas) quality design.

RobertWalpole

Feb 23, 2012, 2:40 AM

I agree.

babybackribs2314

Apr 17, 2012, 4:09 AM

Steven Roth had this to say about 220 CPS:

http://dcrealestate.citybizlist.com/5/2012/4/15/Vornado-Chairman-Steven-Roth-Everything-is-on-the-Table.aspx#.T4ziLSlsEoY.twitter

"We hear that the 1,000 foot tall, direct park-view apartment tower under construction on 57th Street is pricing at $6,500 per square foot. Our 220 Central Park South site, just down the block, is better."

If this one is super skinny--which would make sense if Roth & Barnett make some kind of compromise re: blocking future views from 225 W57th--it could rise much taller than 550'. This building had 240k SF of FAR back in '06 (some have mentioned the lot has come to include more properties/FAR?), and 105 West 57th is tentatively 670' at 105K square feet.

Barnett also controls 225 West 58th, where Extell proposed an 18-story 66K SF residential building a few years ago. Some kind of deal would do well to benefit both partners, especially if Barnett can ensure his views stay maximized (and Vornado's tower gained air rights to 300k total feet). If that occurred, something in the 700' range could happen I think. The Central Park panorama may be better than that of the WTC come 2020, with this, One57, 105 W57th, 432 Park, and possibly Torre Verre & 225 W57th all complete by then.

hunser

Apr 17, 2012, 7:13 AM

^^ Haha, the war on "who's got the better view" has just begun. You better build tall nowadays or you're screwed. I like that. :D

NYguy

Apr 17, 2012, 1:13 PM

RobertWalpole

Apr 30, 2012, 10:43 AM

http://online.wsj.com/article/SB10001424052702304050304577374282028790506.html?mod=WSJ_NY_MIDDLESecondStories

NY REAL ESTATE COMMERCIALApril 29, 2012, 10:52 p.m. ET.Standoff at Central Park .
Article Comments more in NewYork-Real Estate | Find New $LINKTEXTFIND$ ».
Email Print Save ↓ More .
.smaller Larger By ELIOT BROWN

The exterior of 220 Central Park South, which is slated for demolition so a new tower can be built in its place.

Mr. Barnett's Extell Development Co., which is developing the soaring 1,004-foot One57 condominium tower one block to the east, bought into the lease of the underground parking garage in Vornado's building a few years ago, according to people familiar with the matter. It runs about five more years, the people said.

Thus far Mr. Barnett has resisted Vornado's attempts to rid him from the building through a buyout or settlement. But now Vornado is stepping up the pressure as it moves forward with demolition preparations, which call for tearing down the building above the garage, stopping at the second floor.

Talks between the two sides also are continuing. "We're trying to take down the building and then we'll come up with a first-class building," Vornado's chief executive, Michael Fascitelli, said in a brief interview last week.

As to Mr. Barnett, he said, "We have a little issue there, but we're trying to resolve it."

Extell, however, believes tearing down the building atop the garage could be dangerous.

"We think it would show very poor judgment to attempt to demolish an occupied building, especially when there is no possibility of construction for a number of years. God forbid something bad happens for no purpose," a spokesman said in a statement. "We have the greatest respect for the leadership of Vornado and would be surprised if they actually moved to demolish."

Vornado, one of the city's largest office and retail landlords, filed with the city for demolition permits last month. Scaffolding is going up on the edges of the white-brick building, which was cleared of residential tenants in 2010.

Should the two sides fail to strike a deal, Vornado could still proceed with demolition. But demolition would likely be more complex and expensive if the garage isn't vacated.

Write to Eliot Brown at eliot.brown@wsj.com

Crawford

Apr 30, 2012, 4:42 PM

Hopefully, with all the additional air rights Vornado has since purchased, and with small footprint (necessitated by agreement with Extell), we'll be getting another very tall tower.

I imagine a 1,000 ft+ tower on this site would smash sales records.

babybackribs2314

Apr 30, 2012, 5:20 PM

Do you have details on the additional air rights acquired? I know they had 240k SF in '06. Possibly 300-400k now?

That still isn't all that much for a supertall, considering One57 has 1M SF, but if a tower was extremely slender/1-2 floors per unit, it could certainly be possible (just look at the height/width ratio on 432 Park...).

Crawford

Apr 30, 2012, 5:51 PM

Do you have details on the additional air rights acquired? I know they had 240k SF in '06. Possibly 300-400k now?

No, I have no insider details, but I know that Vornado reported the purchase of additional air rights in some of their past quarterly filings.

I'm just hoping that the small footprint would yield a tall tower, because you know Extell isn't going to allow blocked views from their 58th street development site.

babybackribs2314

Apr 30, 2012, 6:21 PM

No, I have no insider details, but I know that Vornado reported the purchase of additional air rights in some of their past quarterly filings.

I'm just hoping that the small footprint would yield a tall tower, because you know Extell isn't going to allow blocked views from their 58th street development site.

Agreed. I don't think this will top 1k feet, but 700'+ is likely given the additional FAR, which will still make a big impact given this is on the park.

Funny how the neighborhood is such a mish-mash of properties between various developers. You would think they would work together & swap lots etc for mutual benefit, but everything in this city is cut-throat.

sbarn

Apr 30, 2012, 6:34 PM

Petty. :yuck:

NYguy

Apr 30, 2012, 10:37 PM

Funny how the neighborhood is such a mish-mash of properties between various developers. You would think they would work together & swap lots etc for mutual benefit, but everything in this city is cut-throat.

That's some prime real estate as far as residential goes. Everyone wants their own slice of the pie.

aquablue

Apr 30, 2012, 10:46 PM

The buyers will decide that, Mr. Roth. But we hope you give us something nice to look at, and get 15 Penn built while you're at it!

I assume he is attributing this to the fact that it is on a more prestigious street with safe unobstructed park views for a lifetime. I think I know what building I'd chose between them. This one. The location is obviously better despite design or height factors. Location is King, and this one has an amazing one. Central Park South is a beautiful street, more pleasant than 57th street in most people's minds I'm sure. Just the fact that you could cross the street into the Park is a major plus. I'm pretty confident that Roth is right, and that this building will turn out to be the more sought after building.

RobertWalpole

May 1, 2012, 12:59 PM

Maybe that's why Barnett is trying to block this project for five years. By that time, One 57 and 225 W 57th should be sold out and won't have to compete with 220 CPS.

scalziand

May 10, 2012, 7:59 PM

Just trying to illustrate some of the scenarios being bandied about.

http://img254.imageshack.us/img254/2416/225vs220.jpg

Green is Vornado properties, red is Extell properties. The yellow part is the western half of the site, which wouldn't block the 225 tower as much. The yellow portion is the same size as 432 Park's footprint; 100'x100'.

I'm not sure who owns 231 w58, as its listed as owned by 231 w58th street PLC, which I don't know who own it, undoubtedly either by Extell or Vornado.

Still, it would be a very tough sell for Extell to convince Vornado to not build directly on CPS.

NYguy

May 11, 2012, 2:30 AM

babybackribs2314

May 11, 2012, 7:12 AM

^ It all depends on just how high Vornado gets. The higher they get, the more slender the tower. But Extell if flirting with going higher as well, and could potentially go higher than 432 Park. It will be an issue, but it may or may not be as much of an issue. In my mind, they're both on Central Park.

Semantics matter more to oil sheikhs and oligarchs, which is why 220 CPS will command higher rents than both 225 W57th and One57. These things are marginally significant but even though they barely matter to us, the difference in per square foot cost for very expensive apartments can be quite large. There's a reason 15 CPW is the most expensive in the city, and it's the CPW address.

NYguy

May 14, 2012, 12:40 PM

Semantics matter more to oil sheikhs and oligarchs, which is why 220 CPS will command higher rents than both 225 W57th and One57. These things are marginally significant but even though they barely matter to us, the difference in per square foot cost for very expensive apartments can be quite large. There's a reason 15 CPW is the most expensive in the city, and it's the CPW address.

Anything with CP in the address is considered gold.

yankeesfan1000

May 14, 2012, 8:55 PM

Robert A.M. Stern Designing Finally-in-Progress 220 CPS?
(http://ny.curbed.com/archives/2012/05/14/robert_am_stern_designing_finallyinprogress_220_cps.php)
Monday, May 14, 2012, by Sara Polsky

http://ny.curbed.com/uploads/220CPS_5_12.jpg

"The long developer face-off at 220 Central Park South may finally be coming to an end. Keen real estate observer Michael Gross notices that the building's rear facade is thoroughly scaffolded and that it was covered with workers this morning, "likely signaling its imminent demolition." That seems in line with site owner Vornado's most recent plan for the building, to demolish everything above the second floor even though Gary Barnett, owner of 220 Central Park South's underground parking garage, has refused to make way. Will Barnett change his mind now that Vornado's making some serious moves?

And we mean starchitect-level serious. Gross hears from a few sources that Robert A.M. Stern has been asked to design the future 220 Central Park South (which Vornado chair Steven Roth promised would be better than Extell's One57). No permits have been filed, so we don't know whether Stern is on board—but if Vornado is looking for a One57-killer, that's certainly one way to do it."

sbarn

May 14, 2012, 9:18 PM

:previous: Awesome news if its true. I think he's the perfect designer for this location - ensuring this building won't be a glass box.

SkyscrapersOfNewYork

May 15, 2012, 12:44 AM

I'm expecting the tower to be much like 15 CPW and I'm not really happy about that but hey, whatever.

scalziand

May 15, 2012, 1:28 AM

I'm expecting the tower to be much like 15 CPW and I'm not really happy about that but hey, whatever.

I'm thinking more like 99 Church than 15 CPW.;)

patriotizzy

May 15, 2012, 1:47 AM

My God, this is so exciting! And here I thought One57 was exciting as it got :P

vandelay

May 17, 2012, 1:58 PM

Considering that 15CPW was one of the most successful residential developments ever, both aesthetically and commercially, I sincerely hope that RAMSA are chosen for this project. Imagine a skyscraper residential tower that exudes classic New York style. Amazing.

yankeesfan1000

May 17, 2012, 3:02 PM

Looks like RAMSA might have been chosen.

Considering that 15CPW was one of the most successful residential developments ever, both aesthetically and commercially, I sincerely hope that RAMSA are chosen for this project. Imagine a skyscraper residential tower that exudes classic New York style. Amazing.

Robert A.M. Stern Designing Finally-in-Progress 220 CPS?
(http://ny.curbed.com/archives/2012/05/14/robert_am_stern_designing_finallyinprogress_220_cps.php)
Monday, May 14, 2012, by Sara Polsky

http://ny.curbed.com/uploads/220CPS_5_12.jpg

"The long developer face-off at 220 Central Park South may finally be coming to an end. Keen real estate observer Michael Gross notices that the building's rear facade is thoroughly scaffolded and that it was covered with workers this morning, "likely signaling its imminent demolition." That seems in line with site owner Vornado's most recent plan for the building, to demolish everything above the second floor even though Gary Barnett, owner of 220 Central Park South's underground parking garage, has refused to make way. Will Barnett change his mind now that Vornado's making some serious moves?

And we mean starchitect-level serious. Gross hears from a few sources that Robert A.M. Stern has been asked to design the future 220 Central Park South (which Vornado chair Steven Roth promised would be better than Extell's One57). No permits have been filed, so we don't know whether Stern is on board—but if Vornado is looking for a One57-killer, that's certainly one way to do it."

scalziand

May 31, 2012, 5:49 PM

The leaked model for 225 w57th also has a massing model for 220 CPS.

http://nyoobserver.files.wordpress.com/2012/05/2012-05-30-20-44-17.jpg?w=337

JayPro

May 31, 2012, 6:05 PM

Unfortunately, I *think* that NYGuy directed us to a link in the 432 Park thread that says this design is one that didn't advance.

babybackribs2314

May 31, 2012, 6:48 PM

That submission did not win (thankfully), but if the massing model is halfway accurate this is definitely 600'+.

NYguy

Jun 30, 2012, 11:06 PM

DitMartian (http://www.flickr.com/photos/ajarda/7464006942/sizes/l/in/photostream/)

http://farm8.staticflickr.com/7265/7464006942_a3071f114c_b.jpg

NYguy

Aug 20, 2012, 11:49 PM

http://online.wsj.com/article/SB10000872396390443855804577599583549833776.html?mod=WSJ_NY_RealEstate_LEFTTopStories

Vornado vs. Extell

August 19, 2012
By Eliot Brown

The start of demolition on a onetime apartment building on Central Park's southern edge has escalated a fight over the coveted site, where landlord Vornado Realty Trust wants to build a soaring condo tower.

Vornado recently began taking down the top floors of the half-century-old former rental building while the parking garage in the building's basement is still operating. That is because the garage is controlled by rival developer Gary Barnett, founder of Extell Development Co, who owns a neighboring development site. He has thus far held out from striking a deal with Vornado to shut down the garage, so the demolition is slated to leave the garage in place.

Last week, the work on the building was halted by the city's Department of Buildings, which issued a "stop work order" after some bricks fell 10 stories, the agency said in a report on its website. The infraction isn't uncommon on large demolition jobs, although typically sites are fully vacant.

The incident has provoked an angry response from Mr. Barnett, who had previously criticized Vornado for moving ahead with demolition while his garage is still open. "It's outrageous that they're taking a risk with people's lives and properties when it doesn't do them any good," Mr. Barnett said Friday. "They're only tearing the building down to the third floor—so why are they going ahead and doing this demolition while the building is occupied? Let them wait."

Vornado, one of country's largest publicly traded real-estate companies, recently acknowledged the unresolved conflict with Mr. Barnett on its quarterly conference call, referring to it as "a bit of a tussle with a neighboring property owner," in the words of Vornado executive David Greenbaum. "We feel very good about where we are in the process with demolition having commenced," Mr. Greenbaum said on the call.

Dac150

Aug 21, 2012, 1:27 AM

Haha . . classic war of the words. This should be interesting and ugly at the same time.

sbarn

Aug 21, 2012, 2:50 AM

Can't we all just get along? :shrug: Actually it does seem like there would be some mutual benefit to have the general area improved, rather than having that shrouded eyesore remain.

NYguy

Aug 21, 2012, 1:26 PM

I'm just waiting to see who will outdo who in terms of design. We already know which will be taller.

Duck From NY

Aug 21, 2012, 7:41 PM

I'm just waiting to see who will outdo who in terms of design. We already know which will be taller.

Was there a design competition for this, and if so do you think they'll release all the proposals for this and 225 W 57th?

NYguy

Aug 23, 2012, 12:47 AM

Was there a design competition for this, and if so do you think they'll release all the proposals for this and 225 W 57th?

Not that I know of.

NYguy

Aug 27, 2012, 12:13 PM

http://online.wsj.com/article/SB10000872396390444506004577613520000341522.html?mod=googlenews_wsj

Developers in Power Struggle
Lawsuit Shows Extent of Vornado-Extell Fight Over a Central Park South Site

http://si.wsj.net/public/resources/images/NY-BV980_extell_DV_20120826180107.jpg

By Elliot Brown
August 26, 2012

A battle between two powerful New York developers over one of the city's most valuable development sites is getting litigious. For months, landlord Vornado Realty Trust had been trying to strike a deal to remove rival Extell Development Co. from 220 Central Park South, a former apartment building in which Extell controls a basement parking garage on a lease that runs until 2018. Since 2005, Vornado has wanted to raze the building and put a condo tower in its place, but it is being held up by Extell, which also owns a neighboring development site and has resisted Vornado's offers to buy it out of its lease.

Last week, a lawsuit filed by the parking garage company controlled by Extell showed that the conflict has taken a new turn: Vornado has told Extell it is in default on its lease, a precursor to an eviction. Extell, in turn, believes Vornado's claims are frivolous and it is seeking to block any possible eviction. Vornado's move rests on an action made by the Department of Buildings in May, when it fined the property owners $200 because the parking garage wasn't being used "primarily for residents," as is required by its certificate of occupancy. According to the lawsuit, Vornado then told Extell that it had violated the terms of the lease, triggering a default.

Extell, one of the city's most active developers, alleged in its lawsuit that the violation issue raised by Vornado "is nothing less than a sham." Vornado has bought out all the residential tenants in the building overhead, creating a situation where there were no residents who could possibly use the parking spaces, Extell said. In its lawsuit, Extell asks the court to order Vornado to "re-occupy the building with tenants" in order to uphold its own obligations under the lease. "They take away our clients, they empty out the building, and then say, 'You're in violation because you have an empty building,'" Gary Barnett, Extell's president, said when reached by phone Friday, expressing confidence he would prevail. "We have a valid lease for the next six years, and we don't think that any court in New York City is going to allow a landlord to throw us out and treat us unfairly."

David Greenbaum, the Vornado executive in charge of the project, told analysts on a conference call earlier this month that the residential development site is "probably the best in Manhattan, with unobstructed views of the park." "We've got enormous financial aspirations for this development," Mr. Greenbaum said, acknowledging the fight with Mr. Barnett. "We feel very good about where we are in the process with demolition having commenced."

This is getting nasty. It can only be resolved with a battle for the skyline!...........:skyscraper:

THE BIG APPLE

Aug 27, 2012, 1:19 PM

While Robert A.M Stern will definitely give us a grand tower for this site, we won't get that signature Pelli crown that he offers to his buildings, UNLESS they're working together. As far as I've heard it's Stern alone. But we'll get something like 15 CPW.

NYguy

Aug 28, 2012, 12:21 PM

Barnett wants to get his tower built first, and who could blame him. In 6 years, his tower would be completed with many units already sold.

For months, landlord Vornado Realty Trust had been trying to strike a deal to remove rival Extell Development Co. from 220 Central Park South, a former apartment building in which Extell controls a basement parking garage on a lease that runs until 2018. Since 2005, Vornado has wanted to raze the building and put a condo tower in its place, but it is being held up by Extell, which also owns a neighboring development site and has resisted Vornado's offers to buy it out of its lease.

Vornado, meanwhile, understandably wants to get in on some of that hot real estate action in the area. All the top residential properties are nearby - 15 CPW, Time Warner Center, One57, etc. It's no wonder they see dollar signs...

David Greenbaum, the Vornado executive in charge of the project, told analysts on a conference call earlier this month that the residential development site is "probably the best in Manhattan, with unobstructed views of the park." "We've got enormous financial aspirations for this development," Mr. Greenbaum said

NYguy

Aug 29, 2012, 1:11 PM

http://www.nypost.com/p/news/business/realestate/commercial/si_land_sold_for_yA8YhaHYi4fYivjUCistaL

By Lois Weiss
August 29, 2012

...the potential deal for Vornado to buy the retail space at 680 Madison Ave. from Gary Barnett’s Extell Development and Angelo Gordon for $280 million “ain’t over til it’s over,” and it may not matter how they settle their Central Park tower kerfuffle. One source confided, “The two issues are not necessarily linked.”

On Central Park South Roth and Barnett are sparring over Vornado’s demolition of No. 220.

While Vornado is trying to evict Extell from the building’s garage lease, Barnett is also jockeying to get them to position their new tower so his own Nordstrom tower can maximize views over Central Park.

In this town, for the professionals, it’s all just business — and location.

sbarn

Aug 29, 2012, 1:19 PM

Walked nearby yesterday, lots of shrouding going on over at 220 Central Park South.

http://farm9.staticflickr.com/8182/7887140830_4ea8ed3c24_b.jpg
(photo by me)

NYguy

Aug 31, 2012, 5:39 AM

^ Makes it that more visible on the skyline....

Eugene_Lee (http://www.flickr.com/photos/eugene_lee/7895492966/sizes/h/in/photostream/)

http://farm9.staticflickr.com/8302/7895492966_0f0bf70aa6_h.jpg

NYguy

Sep 20, 2012, 9:55 PM

http://blogs.wsj.com/metropolis/2012/09/20/woman-injured-by-truck-at-manhattan-construction-site/

Woman Injured By Truck at Manhattan Construction Site

http://s.wsj.net/public/resources/images/OB-UR001_centra_G_20120920165529.jpg

September 20, 2012
By Eliot Brown

A woman was seriously injured by a construction truck Thursday afternoon next to a high-profile Midtown development site.

A truck doing work at 220 Central Park South–a building under demolition that’s the subject of a contested fight between two of the city’s most powerful developers–struck a pedestrian on 58th Street, pinning her under the truck, a New York Fire Department spokesman said. The fire department removed the woman, who was taken to New York Presbyterian Hospital, the spokesman said. Her name wasn’t released, and the investigation is ongoing.

The property, which runs through the full block between 58th Street and Central Park South, is considered one of the best development sites in the city given its park-side location and has been closely watched in the real estate industry.

Its owner, Vornado Realty Trust, recently began demolishing the former rental apartment building to make way for a luxury apartment tower. That ignited a fight with a rival developer, Extell Development, which controls the rights to the parking garage in the building’s basement and has resisted offers from Vornado to leave the property.

Extell, in turn, owns a neighboring property and also has been planning a tower of its own a block to the south. The developer likely is concerned about how the Vornado tower may affect views of the park from its own sites.

Eidolon

Oct 11, 2012, 12:32 PM

http://1.bp.blogspot.com/-zqbI59lklI0/UHXfk_GDY9I/AAAAAAAADQs/5gSL1DhwAc4/s1600/220+cps+back+bobcat.jpg

http://afinecompany.blogspot.fi/2012/10/demolition-alley-columbus-circle-east.html
Across the street on the north side of 58th Street the back tower of once and future 220 CPS has completed demolition, a couple of next door buildings are coming down (219 and 221 West 58th), and work has begun on the demolition of the front tower of 220 CPS that faces CPS. They are laying waste to the whole area! 220 CPS has been subject to a battle between Extell Development that owns (owned?) the garage space and Vornado that owns everything else. Last we heard from any source was that Extell was taking Vornado to court, but some settlement surely must have been worked out, as the only thing that is coming out of that garage at this point is a bobcat moving debris.

Would be great if 220 CPS could start construction in time to join all the other construction going on around Central Park. That area will be home to a forest of cranes in the very near future.

NYguy

Oct 11, 2012, 9:12 PM

Would be great if 220 CPS could start construction in time to join all the other construction going on around Central Park. That area will be home to a forest of cranes in the very near future.

There would have to be some deal made with Gary Barnett of Extell. I walked by the site earlier today, and the building is almost down. Barnett may want to delay this until his own tower gets off the ground. Vornado seems to be pushing the point, but expect Extell to get something out of it.

"They take away our clients, they empty out the building, and then say, 'You're in violation because you have an empty building,'" Gary Barnett, Extell's president, said when reached by phone Friday, expressing confidence he would prevail. "We have a valid lease for the next six years, and we don't think that any court in New York City is going to allow a landlord to throw us out and treat us unfairly."

We'll see how it all turns out, but we could see 225 rising while this thing drags out in court.

yankeesfan1000

Dec 4, 2012, 7:38 PM

Pretty sure this is 220 CPS. Anyways, almost down. Photo's mine.

http://farm9.staticflickr.com/8199/8244390741_8c55edeefc_c.jpg

NYguy

Dec 4, 2012, 8:43 PM

All the better for us to see the Nordstrom tower rise...

babybackribs2314

Jan 7, 2013, 4:02 PM

This is almost gone. Can't wait for the new tower!

220 Central Park South Demo Update (http://www.yimbynews.com/2013/01/demolition-update-220-central-park.html)

http://3.bp.blogspot.com/-CALHukG9s54/UOpSACpmheI/AAAAAAAAMqA/yhcy5w22ZYQ/s640/20130105_160930.jpg

NYguy

Jan 7, 2013, 4:27 PM

This is almost gone. Can't wait for the new tower!

Unfortunately, it'll be about a 5 year wait, unless Vornado and Extell can come to an agreement.

babybackribs2314

Jan 7, 2013, 4:34 PM

Unfortunately, it'll be about a 5 year wait, unless Vornado and Extell can come to an agreement.

I would think it would be in the best interest of both to come to some sort of agreement. In the end, I suppose the tenants at 225W57th will have to deal with the loss of their views just like those owning at One57, except in this instance it won't be the same company blocking views from its other towers... (if that makes sense)

The lot arrangements along 58th Street are so discombobulated... they should just swap & get it over with.

yankeesfan1000

Jan 7, 2013, 4:44 PM

babybackribs2314

Jan 7, 2013, 4:48 PM

Who's losing their view at One57, unless you're talking about views west, but that building's all about park views, so that makes little difference.

And why would Extell give up the parking garage? So that a competitor can build a building courting the same clientele? A building which will block a significant amount of 225's views? And a building that would probably be designed with that specific purpose in mind?

Extell's not giving up the parking garage, unless Vornado totally blows them away with an offer. They have no reason to.

I was talking about western views. Not that significant, but the upper floors of One57 have unobstructed views of the Hudson... that won't be the case after 225 W57th is finished. Personally, I care more for river views than park views, but obviously that's a subjective opinion.

Giving up the garage (with conditions) could allow Extell to have a say in the design of 220 CPS, although that would seem unlikely. Don't forget that Extell owns one of the lots behind 220 CPS on 58th Street, where permits for a ~20 story building were filed.

Buyers at 225W57th won't be plunking down tens of millions for apartments without scoping out the area, so resolving the dispute would be in everyone's best interest... although most of the buyers at 225 W57th probably won't even live there so I can't imagine the loss of their park views will be distressing besides from an investment perspective. I wonder how much value will be lost with the obstruction of a unit's park view--I would guess 25-30%.

yankeesfan1000

Jan 7, 2013, 5:14 PM

Yeah, unless Extell basically has final say in the design, I don't see them handing over the garage. A building here would block tens of millions of dollars worth of apartments in 225, so unless Extell plans a hotel, where views aren't as important, for the section of 225 that would have their park views blocked by this, I don't see Extell giving the garage up.

Barbarossa

Jan 10, 2013, 4:19 PM

Unfortunately, it'll be about a 5 year wait, unless Vornado and Extell can come to an agreement.

So now there is going to be a weed and rubble strewn gaping hole in the street-cape for half a decade? Density lost for nothing. How are you not mad about that?

Crawford

Jan 10, 2013, 5:00 PM

So now there is going to be a weed and rubble strewn gaping hole in the street-cape for half a decade? Density lost for nothing. How are you not mad about that?

We don't know if there will be any wait.

Extell says they can't legally take posession, so if they're right, there may be a wait.

But Vornado says the opposite. They say they can begin construction, without consent from Extell, because they have the lease rights.

If I had to guess, I would probably side with Vornado, because why would they demolish everything and begin the marketing process for the condos if they knew they had to wait?

But who knows. Maybe a court will have to decide.

NYguy

Jan 10, 2013, 6:05 PM

So now there is going to be a weed and rubble strewn gaping hole in the street-cape for half a decade? Density lost for nothing. How are you not mad about that?

Because for one, whatever is there won't be visible and behind a barrier. It'll be accross the street from construction of what will basically be the city's tallest tower. That open site will be welcome, given the amount of closed off space as a result. In fact, it will offer greater views of the Nordstrom tower rising. It's actually common for sites to sit vacant before construction begins in New York.

As far as Extell having a say in the design, Vornado is in it for the money, and they've already stated they expect to make a pretty good amount with this property. I doubt they would let Extell have a say in anything, just to make them more comfortable. Vornado has a site directly over the park, and waiting a few years won't make it any less valuable. They've already shown a willingness to wait it out in Manhattan. In fact, they've let an entire city block of Manhattan sit.

photoLith

Jan 10, 2013, 6:11 PM

Man, the building they tore down was ugly as hell, glad they are replacing it.

DURKEY427

Jan 29, 2013, 9:56 PM

Any news on a render

NYguy

Oct 3, 2013, 11:27 PM

http://therealdeal.com/blog/2013/10/03/vornado-extell-bury-hatchet-at-220-central-park-south/

Vornado, Extell bury hatchet at 220 Central Park South

http://s13.therealdeal.com/trd/up/2013/10/Steven-Roth-220-CPS-Gary.jpg

October 03, 2013
Julie Strickland

Vornado Realty Trust and Extell Development appear to have buried the hatchet in their feud over side-by-side development lots between West 57th Street and Central Park South, and Seventh Avenue and Broadway.

Vornado’s 220 Central Park South should therefore sprout soon, just behind Extell’s tower at 225 West 57th Street, a source in the know told Michael Gross, who reported the news on his blog.

“They made a deal,” the source told Gross, who then dispatched fellow bloggers to investigate the underground parking garage leased by Extell beneath Vornado’s property, reportedly the reason for the 220 Central Park South delay. They found the lot locked and empty, and a watchman behind the date confirmed to Gross that the spot has closed for good and will soon be no more.

Vornado, with plans to demolish and replace 220 Central Park South with a 41-story, $400 million condominium tower, agreed to pay $40 million to buy out 26 rent-regulated tenants in the building in December 2010. But Extell’s Gary Barnett, with six years left on a garage lease beneath the building, doubled down. Vornado retaliated with a $200 fine to Extell for the garage not being used primarily for residents, as was required.

Vornado is hiring Robert Stern of 15 Central Park West fame to design the new condo — a source told the blog the choice is “99 percent sure.”

http://mgross.com/gripebox/vornado-and-extell-a-done-deal-and-now-a-race-to-the-sky-another-gripepad-exclusive/

Vornado and Extell: A done deal…and now, a race to the sky?

by Michael Gross
October 3rd, 2013

The mega-tiff between mega-builders Vornado and Extell over two almost-kissing development lots between West 57th Street and Central Park South, and Seventh Avenue and Broadway, has ended, and Vornado’s 220 Central Park South should start climbing soon, only a tad behind Extell’s Nordstrom tower.

So says a source in a position to know, who reports, “They made a deal.” Not one to trust, this blog just paid a visit to the underground parking garage leased by Extell beneath Vornado’s property–reportedly the cause of the delay at 220CPS–and found it locked and empty, and the watchman on duty behind its gate confirmed that it has closed and will soon be a goner.

Vornado has not yet responded to a request for comment. My source also confirmed–well, nearly–Gripepad’s report from May 2012 that Vornado is hiring Fifteen Central Park West architect Robert A.M. Stern to design its new condo–”It’s 99% sure”–and added one more tid-bit for now. “They’re going pretty high,” the source says. Which means war, at least for the Central Park views developers covet along the new Billionaire’s Belt. Until today, Extell (whose plans were first revealed here this week) had the view corridor to itself. Now? Advantage Vornado.