NEW YORK | 1865 Broadway | 418 FT | 32 FLOORS
New York YIMBY:
Proposed: American Bible Society Redevelopment BY: NIKOLAI FEDAK ON JANUARY 27TH 2014 AT 6:00 AM http://www.yimbynews.com/wp-content/...14/01/abs6.jpg ABS Redevelopment — image from Danny Forster Design Studio Quote:
ABS Redevelopment -- image from Danny Forster Design Studio http://www.yimbynews.com/wp-content/...14/01/abs1.jpg ABS Redevelopment -- image from Danny Forster Design Studio http://www.yimbynews.com/wp-content/...14/01/abs2.jpg ABS Redevelopment -- image from Danny Forster Design Studio http://www.yimbynews.com/wp-content/...14/01/abs5.jpg ABS Redevelopment -- image from Danny Forster Design Studio |
http://s11.therealdeal.com/trd/th/images/logo-small.jpg
Bible publisher to unload Columbus Circle HQ Buyer could construct 300,000-square-foot residential condo on site Julie Strickland March 25, 2014 05:15PM http://s13.therealdeal.com/trd/up/20...5-broadway.gif Cushman’s Helen Hwang and 1865 Broadway Quote:
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Wow...that's a fantastic site.
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I don't believe there are any height limits on Broadway south of the Lincoln Square district. So hopefully we get something soaring, along with great architecture.
If you know NYC, you know this location is absolutely incredible for high-end residential. It's across the street from 15 CPW, probably the most successful residential building in NYC history. |
I'm surprised that the massing model doesn't preserve the existing plaza for another little FAR bonus.
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Now they're just selling off the location and moving somewhere else cheaper in Manhattan. Just guessing, but I assume whatever is built will try and take maximum advantage of park views. |
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That, and the $300M asking price... http://www.crainsnewyork.com/article...-from-hq-sale# American Bible Society wants $300M for HQ http://www.crainsnewyork.com/apps/pb...W=340&border=0 Daniel Geiger March 24, 2014 Quote:
Developable sites that can be assembled to build on are in rare supply around the perimeter of southern Central Park (the so called Billionaire's Row), let alone a site that needs no assembly at all. It's a rare opportunity for someone. I don't know exactly what the zoning is in regards to height for that block, but it is bordering the Midtown district that has no height limits. Same as 220 CPS. And it would be across the street from The World's Most Powerful Address. http://static.businessinsider.com/im...1200/image.jpg |
Some google earth aerials for perspective...
http://www.pbase.com/nyguy/image/154982589/original.jpg http://www.pbase.com/nyguy/image/154982590/original.jpg |
http://www.religionnews.com/2014/03/...-nyc-building/
American Bible Society to sell 12-story NYC building Sarah Pulliam Bailey Mar 25, 2014 Quote:
http://www.philipvickersfithian.com/ http://4.bp.blogspot.com/-uQsYgIcw0F...Soc_61_jeh.JPG |
That is a freakin spectacular site for condos, but they will have to go very tall and skinny if they want the drop-dead Central park views.
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Indeed. Forster said that the previous plan maximized condos to the maximum extent possible but I feel like the tower could feasibly be skewed to 60-70 floors. Any any buyer will be motivated by 15 CPW & 520 Park right across the Park... we shall see.
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Vision: 1865 Broadway
http://www.yimbynews.com/wp-content/...5-Broadway.jpg 1865 Broadway, image by Goldstein Hill & West Quote:
http://www.yimbynews.com/2014/10/vis...-broadway.html |
Looks pretty nice. Looking forward to seeing more of this building. :cheers:
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The rendering above is by the previous property owner, so we'll be getting something different. And I would be surprised if this building is only 700ft.
With 300,000 square feet to work with, small floorplates, no height limit, and 15 CPW blocking park views across the street, one would think they will go very tall and skinny. The value is in the Central Park views. Need to go taller to take advantage of those killer views. |
I guess we'll know more about it when someone buys it. But it's a pretty price for a pretty good property.
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Bible Society Sells New York City Building for $300 Million
http://si.wsj.net/public/resources/i...0201170637.jpg KEIKO MORRIS Feb. 1, 2015 Quote:
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1) 60% of the floor area of the building must be below 150’ 2) The footprint of a tower must be between 30% and 40% of the site area Given those parameters, the building will be constrained in terms of its height. If the site can indeed support 300,000 SF of development, that means only 120,000 SF (40%) of that can be above 150’. My guess from Google Earth is that the site is about 20,000 SF, so the minimum tower footprint would be 6,000 SF (30% of that). That means we are only looking at 20 floors at 6,000 SF each above 150’. Even if they were crazy tall (432 Park-style) 15’ FTF, that would be 300’ in the tower for a total height of 450’. The Danny Forster renderings are interesting, but they only achieve 600-700’ by including a giant mechanical level in the tower to push the residential portion higher without consuming floor area. Plus the FTF height on the units must be insane…like 20’+. Not to be a downer about this, but we probably won’t see something very tall here. Super high-end? Yes. But not tall. |
Something to get the views of Central Park would be desirable. I would shoot for 650 to be on the safe side. 600-650 sounds reasonable, with the top units going for record prices. Key word is that it could measure more than 300k sqft. Either way, if they are not building tall, its a wasted opportunity. Views make all the difference.
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They're not paying 300M for that building, this close to Central Park, for views blocked by buildings. That's for sure.
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Per Bloomberg, the American Bible Society will occupy the site through Q3 of this year, and construction will start in late 2016.
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