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NEW YORK | Platinum - 247 West 46th Street | 450 FT / 137 M | 42 FLOORS

http://www.pbase.com/image/72591972.jpg

Theater District air-rights transfer approved

27-SEP-06

The City Planning Commissioned unanimously approved today the transfer of air rights from the Al Hirschfeld Theater (formerly the Martin Beck Theater) on West 45th Street and the Brooks Atkinson Theater on West 47th Street to 750 Eighth Avenue on the northeast corner at 46th Street, the former site of McHale’s restaurant, a popular Theater District hangout.

The transfer will permit SJP Residential Properties of Parsipanny, N.J., of which Stephen J. Pozycki and Allen F. Goldman are principals, to erect a 42-story building with about 220 residential condominium apartments. The project has been named “Platinum” and will have an address of 257 West 46th Street.

It will be directly across Eighth Avenue from another new high-rise condo project at 301 West 46th Street and the two projects will significantly enhance the ambiance of the Eighth Avenue corridor in Midtown.

The project has been described as “an historic occasion” as it was the first project to attempt to utilize transferable air-rights created in 1998 but on the drawing boards for “over a generation.

At a recent Community Board 4 meeting, Paul Selver of the law firm of Kramer Levin Naftalis & Frankel represented the developer and indicated that while the developer was seeking approval initially only for the “discrete” application of a 38-story tower before the committees, it had larger plans. Those plans included seeking a zoning text-change to permit the transfer of other air-rights from the St. James Theater on 47th Street that would enlarge the building to 42 stories and 220 apartments.

Mr. Selver told the meeting that the air-rights agreement required the theater transferring air rights to agree to maintain their property for the life of the new development and agree to maintenance inspections at least every five years and to only use their property for “legitimate theater.” The theater agreements were to be in the form of restrictive covenants that would apply to any future owners of the property.

As part of the special district’s air-rights transfer requirements, the developer would contribute $10 per square foot of transferred air rights into a special theater district fund.

The community board urged that the special fund be created quickly and that issues relating to the relocation of theatrical organizations evicted for new projects using the air rights should be addressed.

In addition to the $10-square-foot contribution to the fund, the developer has agreed to provide about 3,500 square feet of office space on Eighth Avenue at below-market rent for use by a few small theatrical companies. An article in today’s edition of The New York Times noted that “the city government is still setting up a panel to oversee that fund, which was called for in the 1998 zoning,” adding that the rent to the displaced theater companies would be about $21 a square foot, “which is about half the going rate.” “Some of those companies, however, said yesterday that they were not interested in office space without an adjacent place to rehearse or perform,” the article continued.

The new building has been designed by Costas Kondylis.

The Martin Beck Theater opened in 1924. In 1934, Katharine Cornell and Basil Rathbone starred in “Romeo and Juliet” there and in 1940, Paul Lukas starred in “Watch on the Rhine, and in 1946, the theater hosted “The Iceman Cometh” and in 1959 Paul Newman, Geraldine Page and Bruce Dern performed in “Sweet Bird of Youth.

SJP Properties is also developing a condominium apartment building at 45 Park Avenue and recently acquired the Eighth Avenue east blockfront between 41st and 42nd Street from the Milstein family for the development of a commercial tower that would be across 41st Street from The New York Times building now under construction.

Copyright © 1994-2007 CITY REALTY.COM INC.

Still some contradicting info. on this building, but no doubt it is under construction. Thanks Jularc for revitalizing this thread!

Here is info from NYC DOB:http://a810-bisweb.nyc.gov/bisweb/Jo...isn=0001311867

Note the permit states 43 stories with height of 496ft. I think 450ft. was the first height given when it was still 38 stories. The permit is as of 11/22/2006 so it is fairly recent. May need to amend thread title.

There getting ready to install construction shed, so further work is imminant.

Curbed.com

In McHale's Footprint, Eighth Avenue Goes Platinum

http://www.curbed.com/2007_02_Platinum1a.jpg

http://www.curbed.com/2007_02_Platinum3.jpg

http://www.curbed.com/2007_02_Platinum4.JPG

February 6, 2007, by ROK88

It was only a couple of weeks ago that The Platinum— the new 43 story residential condo development from SJP Properties currently rising at Eighth Avenue and West 46th Street—had the Development Du Jour name bestowed upon it. And by the looks of the billboard they've put up on that corner we're betting that the Platinum gang will fit right in with all those buff dancers (Broadway and other assorted types) that work this stretch of town.

For those of you who've been around awhile, you'll recognize this corner as the former site of the venerated McHale's Bar, favourite of actors and techies alike for over 35 years (or so we're told). McHale's packed up and hit the road one year ago this week, followed shortly by the shuttering of three other old-time theater district haunts: Sam's & Barrymore's (both one block over on West 45th) and JR's just across 46th Street. To tell you the truth, ever since those doors closed we've been a bit at sea. Oh, we've found other places to wet our whistles, but without McHale's great old neon sign shining above that corner we never seem to know exactly where we are. Until something permanent and flashy goes up here to light our way these flexing muscles will be a fine and welcome signpost.

As of this week The Platinum has pushed itself to street level, the sidewalk shed is up and a small crane is hovering over the site. All we can say is, "Get this sucker up and open a bar here ASAP!"

Drove by today, there is definitely above ground activity, look for this one to rise quickly.

It's rising!:cheers:

Good news for height fans!

The DOB permit list the height @ 43 floors and 496 ft.

Remember that the DOB height figure does not include rooftop mechanicals so the top is undoubtedly above 500 ft.

I'd say around 520 ft. (160 m)

http://img459.imageshack.us/img459/4579/platinumbp8.jpg

Quote:

Originally Posted by antinimby (Post 2640811)

Don't say it too loud, you'll awaken the NIMBYs.

I think I going to like this one!

Thanks for all the updates scruffy! It's amazing that these projects get so little attention because of the city they are in. Outside of a few cities these buildings would be huge news.

http://www.nysun.com/article/57058

At Condominium Sales Centers, Sophisticated Marketing Sells

By STEPHANIE GARLOW
June 21, 2007

When customers walk into the sales center for Platinum — a 43-story condominium complex in Midtown West that will open for occupancy in 2008 — they are treated to a digital representation of the building set against real photographs of the natural surroundings, courtesy of 195 inches of flatscreen televisions, complete with surround sound.

Buyers can then enter a fully furnished representation of a 25th-floor room, with panels in the windows that depict the building's actual views.

At sales centers like Platinum's, full-scale models and sophisticated audio-visual presentations, along with elaborate décor, are taking the place of floor plans and blueprints in an attempt to convince consumers to buy apartments that have yet to be built.

With high-end condominiums becoming increasingly luxurious, their sale centers are following the trend, as developers try to give customers not only a realistic representation of how their apartment will look, but also a feel for the "lifestyle" the customer is considering paying millions of dollars for.

Though the specifics vary across developments, marketers say that in each case they are trying to give buyers a real sense for the building.

At the Setai New York, in Lower Manhattan, the sales center — referred to as a "sales lounge" — looks like a club and features a bar, wine cellar, and candlelight, according to vice president of sales for the Marketing Directors Inc., Martin Brady.

The Gramercy Starck project's sales office features "iconic design elements" — including a blackand-white color scheme — from design partner Philippe Starck.

Gramercy Starck, like other centers designed by the SHVO Group, does not offer a full-scale model, preferring instead to present its offerings through advanced audio-visual presentations, according to a SHVO vice president for communications, Arthur Gallego.

And though not all high-end condominiums are buying into the high-tech, fully accessorized sales centers, even those that aren't admit that they have to do something to give customers a feel for the apartment.

The Sky House — a 55-floor development that will be open for occupancy in early 2008 — will unveil its sale center this week in a hotel next to the building site.

"We just wanted to be as close to our site as possible," said the director of sales for Clarrett Group, David E. Perry.

The sale center has a scale model of the building as well as floor plans to show potential buyers. There is no full model but customers can also walk next door to see a finished apartment in the building.

Perry said that in the past the Clarrett Group had set up sales centers farther away from the actual building site. "We had to do all the razzmatazz, and all the smoke and mirrors, and now we don't have to do that." he said.

Looks Great! Excellent addition to the skyline.

Is this one finished already or are they doing interior work?