Well, I hope to see a tower like this on the 666 Fifth Ave site. With $4 billion it is possible. ;)
1,400 ft on the roof 1,705 ft with the spire. http://farm3.staticflickr.com/2847/3...73d2af0d_b.jpg |
I hope whatever is being planned will be something of 53W53 quality. The two buildings will be close.
http://m7.i.pbase.com/o10/06/102706/...estMorning.jpg |
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Anbang will have two very significant developments going on in Midtown...
https://therealdeal.com/2017/03/14/a...rf-conversion/ Anbang wants a bunch more condos at Waldorf conversion The 409 units cited in recent test-the-market filings is up from 321 proposed last fall By Will Parker March 14, 2017 Quote:
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What I like most about Anbang’s ambition and optimism is that it may prompt other foreign investors to consider opportunities within the city and its immediate outskirts. Further, should this venture prove successful, it could serve as a model for owners of other mid-century office properties throughout the city to do something similar.
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Interesting. |
^Location is always key. Interestingly, half the value of that building is for the retail, which the Kushners will keep control of.
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SL Green bought 11 Madison for over $2 billiion. The GM Building sold for almost $3 billion. https://www.google.com/amp/ny.curbed...th-avenue-deal Kushner Companies and Anbang may revive stalled tower at 666 Fifth Avenue BY TANAY WARERKAR MARCH 14, 2017 Quote:
In case they stick with Hadid's work....the plan for 425 Park. |
Definitely one of the most exciting proposals in the world right now!
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But at this point the tower will only be restructure or will be built the new 1.400ft tower?:shrug:
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Not sure if this is a net gain. Losing 1.5m sf of office space in a more then decent building for ultra-luxury units isn't beneficial to the area, and it's not the best use of this parcel, (as we know its very hard to find big rectangular plots in midtown east).
This certainly feels like a vanity project, and one certainly can't help but point out the proximity to Kushner's father-in-law's tower 3 blocks away. This has all the trappings of a Trump tower 2. That said the touted 'vertical mall' is very appropriate for 5th avenue (that could certainly be done to the existing structure), and 1,400 ft buildings are always exciting. If it is a zaha project it has the potential to be a very significant building. This building sits on top of the 53rd street EM station, it's more then worthy of a boost in far and air rights to accommodate a residential addition on top. |
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As you also pointed out, the retail component being discussed is perfectly appropriate and will undoubtedly be a destination. |
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https://www.bloomberg.com/news/artic...er-not-correct Anbang Says 'There Is No Investment' in Kushner Office Tower by Caleb Melby and David Kocieniewski March 14, 2017 Quote:
Of course, this is obviously true. Another view of the potential development site, along with the rising 53W53 and 111 W. 57th. marcos2077 https://c1.staticflickr.com/3/2825/3...f6c12ba6_b.jpg |
It's a shame that the Midtown East rezoning proposal doesn't extend any Transit Improvement Zones to 5th Ave. As a general matter I agree that 5th is outside of the primary business district (at least up in the 50s), but a site like this that's sitting on top of the E/M lines should be an exception.
I'm thrilled to be getting a 1400 ft building, but definitely agree that it's a waste to build $3K/SF condos on top of a subway stop... it's not like the inhabitants are going to be big users of public transport. |
^ Blame that on city zoning. A 1 or 2 msf office tower alone wouldn't be a game changer for the site, and most of the area is starting to lean towards residential development. Like I said earlier, if they could put up a massive 4msf office tower, that would be a big difference. Fifth Avenue itself is not a huge corporate address, leaning more towards high end retail and residential. That's why this redevelopment makes sense.
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Also, the air rights from the landmarked church across the street went to 53W53. There is a proposal to allow for broader lamdmark air transfers in Midtown, but this site is just out of reach. And finally, while there is much specilation about the numbers, we just won't know the details until they are released.
https://therealdeal.com/2017/03/16/a...n-the-details/ At 666 Fifth, the devil’s in the details – and the details don’t add up News reports of Anbang deal at Kushner’s tower leave far too many questions unanswered By Hiten Samtani and Konrad Putzier March 16, 2017 Quote:
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Small floor-plates near the top? … relative to the podium, yes, however they are still fairly large.
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^ I've been interested in the reconfiguration of the building since it was first announced. Sounds like it would likely involve removal of some floors, a little similar to 425 Park Avenue perhaps.
I'm also willing to go out on a limb and suggests they would be willing to work with the original scheme by Zaha Hadid. Quote:
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