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NYguy Oct 17, 2014 12:21 PM
Yes, do it!


http://www.nytimes.com/2014/10/17/ny...ttan.html?_r=0

JPMorgan Chase hopes to build a campus at Hudson Yards for 16,000 workers.


http://static01.nyt.com/images/2014/...superJumbo.jpg




http://www.pbase.com/nyguy/image/154697704/original.jpg

NYguy Oct 20, 2014 1:52 PM
Here's that throwback article from the Post that first talked about a potential move last August...


http://nypost.com/2014/08/11/jpmorga...-and-delaware/

JPMorgan eyeing office spaces on West Side, in NJ and Delaware


By Steve Cuozzo
August 11, 2014


Quote:
JPMorgan Chase has held talks with major developers about moving its headquarters from Park Avenue to the World Trade Center or the Far West Side — at the same time it is planning to move a “significant” number of employees out of town.

As part of an overall real estate reshuffle, the financial giant plans to move an unspecified number of its New York City employees to New Jersey and Delaware, insiders said, although headquarters and trading operations would remain in Manhattan.

No decision has yet been made to move from 270 Park Ave., the bank’s longtime home, and sources termed talks with developers “exploratory.” JPMorgan Chase declined to make an official comment.

But sources confirmed on condition of anonymity that the global giant is in the midst of a “comprehensive” review of its real estate strategy.
In recent months, JPMorgan Chase CEO Jamie Dimon has “kicked the tires” at Related Cos.’ 50 Hudson Yards, a proposed 1,110-foot-tall, 2.3-million-square-foot skyscraper at 504-522 W. 34th St. The land is now owned by Coach Inc., but Related is to buy it for $130 million once Coach moves to its new home at Related’s 10 Hudson Yards three blocks south.

The bank has also talked with Brookfield Properties about its Manhattan West project, and with Vornado Realty Trust about its Hotel Pennsylvania development site.

It’s also talked to WTC developers Larry Silverstein and the Port Authority and Durst Organization about anchoring the proposed 2 WTC, or taking space in near-finished 1 and 4 WTC or in under-construction 3 WTC.


http://thenypost.files.wordpress.com...zo-feature.jpg

chris08876 Oct 20, 2014 2:52 PM
We might be getting somewhere with WTC2 hopefully. I wonder if they would consider splitting some of the office space between the WTC complex and maybe a site on the West side. 4 million square feet is a lot of space. It would only take a small commitment of that space to get WTC2 going. :fingerscrossed:

Submariner Oct 20, 2014 3:21 PM
Quote:
Originally Posted by chris08876 (Post 6775127)
We might be getting somewhere with WTC2 hopefully. I wonder if they would consider splitting some of the office space between the WTC complex and maybe a site on the West side. 4 million square feet is a lot of space. It would only take a small commitment of that space to get WTC2 going. :fingerscrossed:
It seems like they want a corporate HQ campus, meaning all of their HQ would be located in the same area. I guess they could take all of WTC 2 and parts of 1, 3 and 4 (which I am sure we would all love) but it also seems like they want to own their building, and Silverstein (with good reason) probably doesn't want to sell WTC 2.

antinimby Oct 20, 2014 3:58 PM
If they want to have easy access to their JC campus, then the WTC is a no brainer. They also occupy one of the Metrotech buildings in DT Brooklyn, so it will be closer there as well.

NYguy Oct 20, 2014 4:24 PM
Quote:
Originally Posted by chris08876 (Post 6775127)
We might be getting somewhere with WTC2 hopefully.

Quote:
Originally Posted by Submariner (Post 6775177)
It seems like they want a corporate HQ campus, meaning all of their HQ would be located in the same area. I guess they could take all of WTC 2 and parts of 1, 3 and 4 (which I am sure we would all love) but it also seems like they want to own their building, and Silverstein (with good reason) probably doesn't want to sell WTC 2.

Quote:
Originally Posted by antinimby (Post 6775248)
If they want to have easy access to their JC campus, then the WTC is a no brainer. They also occupy one of the Metrotech buildings in DT Brooklyn, so it will be closer there as well.

I think you guys are missing an important piece of the conversation, which Submariner pointed out...


Quote:
http://www.bidnessetc.com/27540-jp-m...r-west-side/2/

the bank also has to align its terms with Related, which owns the proposed site for the new complex. JPM is interested in striking an estate-purchase deal with Related, and not a construction contract. Related, however, has suggested that the bank could construct one building for its new headquarters, which would allow it to take up half of the building planned for Time Warner.


http://www.realtytoday.com/articles/...c-s-hudson.htm

Approved or unapproved, JP Morgan Chase will have to purchase land from developers Related Companies and have to come to a consensus on which developer will build the structures. Related is apparently "eager" to strike a deal with the bank but everything depends on the government approval.

Chase wants to own the land and build it's own towers with its own architects. It wants to start from scratch, not just lease space in some office tower.

The bank has reportedly since scaled down demands for subsidies, but even then, I doubt the city and state will be willing to give more to the WTC site than it already has.

Whether or not they can come to a deal with Related remains to be seen, but before any of that can take place, they have to see what, if anything, will come from the city and state.

NYguy Oct 20, 2014 7:32 PM
de Blasio has to make this clear...


http://www.crainsnewyork.com/article...sal-nonstarter

Mayor calls JPMorgan tax proposal 'nonstarter'


ANDREW J. HAWKINS
OCTOBER 20, 2014


Quote:
On Monday, Mayor Bill de Blasio rejected a request from JPMorgan Chase for more than a $1 billion in tax incentives from the city and state to keep its headquarters in New York City. But although he called the proposal a "nonstarter," he left open the possibility of offering some tax break to the bank.

His comment reaffirmed his administration's hard-line stance on corporate concessions as it continues to negotiate with the bank on its plan to move its headquarters to the far West Side of Manhattan. Alternatively, the nation's largest bank by assets may decamp for a lower-cost location like New Jersey or Delaware.

"There was a discussion put forward to the city of a substantial amount of subsidy, and as Deputy Mayor [Alicia] Glen made very clear publicly, that's not on the table from the city point of view," Mr. de Blasio said at a press conference in Broad Channel, Queens, on the city's Sandy relief program.

"But we value JPMorgan as a major employer for this city, for sure, and we certainly look forward to their long-term presence here as they're looking to switch locations, and if we can find appropriate ways to be helpful, we certainly will."

Pressed on whether he believes the city should provide no tax incentives to JPMorgan, Mr. de Blasio said he simply opposed the $1 billion proposal.

The bank's interest in relocating to the Hudson Yards complex now under development west of Penn Station highlights that area's growing prominence in the city's office market. At the same time, the proposed move also signals the challenges ahead for the market as major tenants seek to downsize their operations to save costs.

During the press conference, Mr. de Blasio also addressed the recent report that Harold Ickes, a lobbyist and close friend of the mayor who helped run his transition team, was representing JPMorgan in its negotiations with the city.

"Harold's a dear friend," Mr. de Blasio said. "Someone I think the world of."
That said, the mayor insisted that his relationship with Mr. Ickes, a onetime Clinton administration official, would not affect his decision on the JPMorgan deal.

"We all separate in our lives all the time the personal relationships we have with people with the work we have to do," he said.

NYguy Oct 21, 2014 11:05 AM
http://www.globest.com/news/12_970/n...ds-351611.html

JP Morgan Likely Headed to Hudson Yards


http://cdn.globest.com/media/newspic...dson-yards.jpg

The Hudson Yards complex may get a neighbor in a new JP Morgan behemoth headquarters.


By Rayna Katz
October 21, 2014

Quote:
The largest bank in America wants to build two towers totaling four million square feet, an effort that would carry a roughly $6-billion price tag, says a person with knowledge of the discussions.

A move by JPMorgan to Hudson Yards potentially would bring about 16,000 jobs to the area, while reducing or ending JPMorgan’s longtime presence on Park Avenue just north of Grand Central Terminal, says the person with knowledge of the talks.

If the deal goes through as it is being requested, the bank probably would sell its 1.3 million-square-foot headquarters building at 270 Park Ave. along with 383 Madison Ave., a tower completed in 2001 as the headquarters of Bear Stearns Cos., which JPMorgan took over when it bought that firm in 2008.

NYguy Oct 27, 2014 12:48 AM
Yes, Chase, pleae come in and give us a decent looking skyscraper...


https://pbs.twimg.com/media/B0afnkkIEAEhmpm.jpg:large
https://twitter.com/RichardJoyTO/sta...85708203077632



And replace this McDonalds in the process...

http://news.efinancialcareers.com/us...park-ave-dont/

Why JPMorgan bankers want to move from Park Ave., why they don’t

by Beecher Tuttle


Quote:
JPMorgan is reportedly considering moving its New York headquarters from its posh Park Avenue location to the West Side. The bank is eyeing a $6.5 billion two-tower campus at Hudson Yards, a new build adjacent to the Javits Center and just a block from the Hudson River.

The pluses for JPMorgan moving away from one of the most historic parts of Manhattan are obvious: it’ll be cheaper in the long run and will give the bank access to better technology. The downsides are more about JPMorgan employees than the bank itself. Here’s a breakdown of the pros and cons for bankers who would make the move west, if indeed JPMorgan inks a deal.

Con: Location, location, location.

Sitting on Park Ave. between 47th and 48th Street, JPMorgan’s current headquarters are ideal for commuting. Grand Central Terminal is just a couple blocks away, giving bankers access to subways that can take them anywhere in the city and, more importantly, trains out to the suburbs. It’s as commutable a location as anyone could ask.

Hudson Yards, meanwhile, is a real estate development that takes up the lower 30s between 10th Street and the West Side Highway. The potential site for JPMorgan is on the northeastern side of the development, on 33rd between 10th and 11th.

While Penn Station is several avenues over, Hudson Yards isn’t nearly as commutable. Subway options are limited and, unless you live in New Jersey, you’ll need to take the commuter rail over to Grand Central after a hefty walk. The number 7 subway line is being extended to reach Hudson Yards, but that’s not a well-traveled line for people who work in banking.

Also, it’s far from being the epicenter of financial services. The building will neighbor the headquarters for Coach, the luxury bag designer, and department store Neiman Marcus has chosen the location for its flagship New York City store. Media company Time Warner has also signed on.

Currently, the area is rather unattractive. But as you’ll see, major changes are in the works.

Pro: The view

Located just a few hundred yards from the Hudson River, the views should be rather amazing. Above is a photo taken this week from the Coach offices that looks down over where the tower would be located. The buildings planned for the area are towers, unlike the more diminutive Coach building, so the view would be even more spectacular.

Con: Fine dining, at least for now

While midtown isn’t the epicenter for fine dining in New York City, it offers hundreds of options, from casual lunch spots to pricey steakhouses. Hudson Yards, sandwiched between Chelsea and the Garment District, is as void of good places to eat as anywhere in Manhattan. Below is the closest restaurant to the site.

http://news-cdn.efinancialcareers.co...14/10/McD2.jpg


Now, that said, Hudson Yards is a huge build and will no doubt attract other businesses and restaurants to the area. The developers expect seven levels of shops and restaurants, and the 500 residences that are planned should bring even more big culinary names to the area. They are also planning a luxury hotel.

But that will take time. Who knows, years down the road it could grow into something special.

Pro: Outdoor space

Unlike crowded Midtown, Hudson Yards has the High Line, a 1.5-mile linear park that weaves through the area, plus Hudson River Park, a beautiful stretch of running and biking paths that run alongside the river. The developers also say they are planning 6 acres of open space that will exist between the towers and stores.

Hudson Yards is also planning a 750-seat public school, which would be great for some parents.


Con: A lack of history and prestige

Say what you want about shiny new buildings and fresh amenities, Park Ave. has panache. The location has been associated with JPMorgan for decades and draws connotations of power and money. Hudson Yards is a project with high aims. Park Avenue is Park Avenue.

Pro: It keeps workers in Manhattan

Like other banks, JPMorgan is moving employees out of high cost locations like New York City. The bank has been pushing people out to New Jersey, Delaware, Florida, and is even said to be working on a facility in Brooklyn. But a two-tower site like the one planned at Hudson Yards would likely slow the drain off talent to lower cost areas.

The New York Times, which first broke news of the negotiations, said the towers could house 16,000 workers. That’s a nice feeling if you like working in the city.

Currently, JPMorgan is said to be in negotiations with the builder, but they’re looking for subsidies for the city, which, under Mayor Bill de Blasio, has shown little interest in providing additional financial support. City officials told the Times they’ve given out around $600 million in tax breaks related to the project already. JPMorgan hasn’t commented on any potential moving plans.

So it’s a wait-and-see for the moment. The towers aren’t expected to be completed until around 2018.

Large view of our infamous McDonalds...
http://news-cdn.efinancialcareers.co...14/10/McD2.jpg




http://www.crainsnewyork.com/article...n-the-hot-seat

JPMorgan puts de Blasio on the hot seat


GREG DAVID
OCTOBER 26, 2014


Quote:
JPMorgan Chase's request for enormous tax breaks to build two towers in Hudson Yards on the far West Side and relocate 16,000 workers to that embryonic neighborhood presents a series of dilemmas for Mayor Bill de Blasio. Some are of his own making, some reflect the times, but all will set important precedents.
The campaign pledge.

As a candidate, Bill de Blasio said over and over again there would be no tax breaks for companies threatening to leave the city. He assailed the Bloomberg administration deal in which FreshDirect received some $100 million in incentives to relocate to the depressed South Bronx and increase its workforce by 1,000 people. Deputy Mayor Alicia Glen repeated that vow earlier this year.

These days the language is a little different. Both the mayor and Ms. Glen say a reported request by JPMorgan Chase for $1 billion in tax breaks is a "nonstarter," although they will try to be "helpful.'' What does that mean? It might mean persuading the state to come up with the money, which Gov. Andrew Cuomo has done for a series of tech firms recently. The governor has his own budget pressures and political problems, and it is unclear why he would continue to bail out the mayor on this issue.

The size of the request.

It's hard to believe JPMorgan was being serious asking for $1 billion in subsidies, but maybe it was trying to distract attention from another problem. The site already offers enormous savings because of incentives as part of the Hudson Yards zoning, which have been estimated at $600 million. (Maybe JPMorgan included that in its request. If not, one should ask what that says about its thinking.)

Those tax breaks were put into place in the Bloomberg administration to forestall just this kind of dealmaking, and giving JPMorgan any additions will just lead to more requests.

JPMorgan is shrinking, not growing, in New York.

This may be the most important issue. Like many other financial companies, JPMorgan is moving midlevel jobs to lower-cost areas as it desperately tries to cut costs to cope with new financial regulations that make global banking less profitable. It is expected to keep its high-paying, revenue-producing people in New York, but the bottom line is that total employment in the city is likely to fall.

Requests for tax breaks from companies in JPMorgan's position were nonstarters in the Bloomberg administration, former officials say. Companies were told that the city was only going to help companies growing in New York.

One could argue that the times are different, that there is no way to demand an increase in financial-services employment, and that tax breaks are needed to keep the jobs New York wants the most. It would be more than a little ironic if Mr. de Blasio starts giving incentives that the Bloomberg administration would not.

NYguy Oct 28, 2014 3:54 AM
http://www.pbase.com/nyguy/image/158010982/original.jpg


Redesigns, please.

Dac150 Oct 28, 2014 11:52 PM
"The worst they can say is no" . . . that's the card JPMC is playing. Ultimately, a compromise will be met . . . there's noway the city would allow JPMC to walk.

JR Ewing Oct 28, 2014 11:58 PM
Quote:
Originally Posted by NYguy (Post 6785195)
I really like 50 HY, but supposedly, JPMC wants its own design.

JR Ewing Oct 29, 2014 3:22 AM
Quote: "As per the NYT, JPMC will stay in its current location."

That's fine by me, as I like the current design. Bring on News Corp!

NYguy Oct 29, 2014 7:43 AM
That's too bad. I guess there was enough backlash, but at best they're staying put.

NYguy Oct 29, 2014 12:38 PM
http://www.nytimes.com/2014/10/29/ny...wers.html?_r=0

JPMorgan Chase Drops Plan to Build 2 West Side Towers

By CHARLES V BAGLI
OCT. 28, 2014


Quote:
The possibility that JPMorgan Chase would build a two-towered, $6.5 billion headquarters on the Far West Side of Manhattan streaked across the skyline in recent weeks, only to die quietly on Tuesday.

Jamie Dimon, chairman of Chase, called Mayor Bill de Blasio and Gov. Andrew M. Cuomo on Tuesday to say that the country’s largest bank had decided to stay put on the East Side.

The bank had created a sensation by exploring a proposal to build a 62-story skyscraper and a second 40-story tower for 16,000 employees on adjoining parcels on the north side of 33rd Street, between 10th and 11th Avenues.

But the proposed building project — one of the largest in New York City history for a single tenant — required the resolution of a number of thorny issues, including the size of a subsidy package for Chase and the purchase of the land from Related Companies.

In the course of negotiations, the bank suggested that thousands of midlevel jobs could leave the city if the deal foundered. The mayor, in turn, publicly scoffed at the idea of handing over $1 billion in tax breaks and cash to Chase, on top of an existing $600 million in property tax breaks.

“This is an outcome that validates our approach, and our belief that these deals often come down to factors that have nothing to do with taxpayer subsidies,” Alicia Glen, deputy mayor for economic development, said in a statement on Tuesday. “We’re glad that JPMorgan has decided to maintain its buildings and its work force right where they are for the foreseeable future.”

Ultimately, Chase was unable to strike a deal with Related for the two parcels, known as 50 and 55 Hudson Yards. Related set an Oct. 15 deadline during weeks of negotiations. Rather than wait, Related struck a deal to sell a major stake in 55 Hudson Yards to a Japanese company.

Related suggested that the bank build one tower and occupy half of a second skyscraper that Related is building nearby for Time Warner.

But Chase began reviewing all of its alternatives, including a move downtown. In the end, the bank decided it would remain at the two buildings it owns in Midtown, at 270 Park Avenue and 383 Madison Avenue. Chase also has thousands of employees at the Metrotech complex in Brooklyn.

One executive involved in the talks provided an alternative explanation: He said the bank’s board decided that it would be unwise to move to new towers in light of increased regulatory scrutiny in Washington since the 2008 recession.

Like many financial institutions, Chase has been increasingly cost-conscious, moving technical and administrative employees to Brooklyn, Jersey City and elsewhere.

The bank, one of the city’s largest private employers, has also obtained a total of $324 million in tax breaks from New Jersey, as well as over $100 million from New York to move to Metrotech.

In the latest round of negotiations, Chase had talked to city and state officials about a “wish list” of benefits totaling, according to one account, over $1 billion. Chase said the city would come out ahead, despite any incentives it might provide.

Critics of corporate subsidies worried that the city might be returning to an era of retention deals, which had largely disappeared under Mr. de Blasio’s predecessor, Mayor Michael R. Bloomberg. The Committee for Better Banks, which includes labor unions and some liberal groups, was about to issue a report denouncing subsidies for Chase when the deal collapsed.

“New York has had an amazing run of job growth over the past decade,” said Jonathan Bowles, director of the nonprofit Center for an Urban Future. “I don’t see the need to turn back the clock and start another wave of big companies clamoring for tax breaks.”

Onn Oct 29, 2014 2:05 PM
Why did they even announce it? I feel like this happens in commercial real estate quite often. They just couldn't work out even a preliminary deal. So much for JP Morgan being a tenant in any major upcoming project.

antinimby Oct 29, 2014 2:41 PM
LOL, drama queens.

Submariner Oct 29, 2014 2:51 PM
The good news is, there is interest from an international firm.

chris08876 Oct 29, 2014 3:25 PM
Could be that JPMorgan was just being too greedy in the deal and that the city didn't take the bait.

JR Ewing Oct 29, 2014 5:39 PM
Since JPM owns its towers on Park and on Mad., it likely will sign a deal to move somewhere else within the next five years.

NYguy Oct 29, 2014 9:28 PM
Quote:
Originally Posted by Onn (Post 6786859)
Why did they even announce it?

More than likely it was going to come out or was leaked. You'll notice no one was really commenting on it, as negotiations weren't complete. And as we now see, Related wasn't up for it.

There are hardly any sites I could think of where a headquarters development of that size can take place in Manhattan. It appears Chase wanted to own its headquarters (like it does now), and develop the buildings specifically to its needs (so no WTC play either). Pretty much all of the proposals in play now are with developers looking to lease space in their towers. Related was able to work out deals with Coach and Time Warner where they will own portions of their towers, and was suggesting Chase take up the remaining space at 30 Hudson, hardly ideal.



http://blogs.wsj.com/metropolis/2014...t-side-towers/

By ELIOT BROWN
October 29, 2014


Quote:
The banking giant on Tuesday notified the city, state and developer Related Cos. that it was scrapping its consideration of a move to build a new, two-tower headquarters on Manhattan’s far West Side, as it considered the array of challenges too great, according to people briefed on the decision.

Among the headwinds: a heightened regulatory environment for banks, the high cost of buying land and building new space, and a public reluctance by city officials to offer incentives, the people said.

The bank had considered the move in recent months as a way to freshen its image and give its employees top-quality space, given that its headquarters at 270 Park Ave. is a 54-year-old building, and the bank doesn’t love its space at 383 Madison Ave., Bear Stearns’ former headquarters.

One benefit of the move that J.P. Morgan had pitched to government officials: It would likely maintain more jobs in New York than if it didn’t get new towers. The bank has been moving jobs out of state to lower cost locations like Delaware for years, a process it expects to continue.

JR Ewing Nov 3, 2014 11:08 PM
Samsung Eyes Major NYC Expansion

The Electronics Giant Has Reached Out to Landlords about Taking Up to 1 Million Square Feet of Office Space
http://online.wsj.com/articles/samsu...ion-1415044241


Quote:
....Technology giant Samsung Electronics Co. is eyeing the creation of a large Manhattan-based office in what would be one of the largest corporate expansions in New York City in years, according to multiple real estate executives familiar with the search.

The South Korean company—which already has U.S. offices in New Jersey and in Silicon Valley, among other locations– recently reached out to New York landlords and developers requesting information about taking up to 1 million square feet of Manhattan office space in a new or existing tower, the executives said. Offices of that size generally hold between 5,000 and 7,000 employees.

The company’s real estate advisors at Cushman & Wakefield Inc. have talked to developers about planned towers at sites including Related Cos.’ Hudson Yards project on the far West Side of Manhattan and the World Trade Center, the executives familiar with the search said. The company is looking to own – not lease—a request that could limit the number of potential sites given that many landlords are primarily interested in leasing.

The space hunt appears in its early stages, and details of the search – such as whether the sprawling is considering other sites outside of Manhattan or whether the operation in New Jersey would move—were unclear. Also, the company has shown signs recently that growth is slowing and profits are falling, partly due to increased competition in the smartphone market.

A Samsung spokesman declined to comment on the search, but said that “dramatic growth in the U.S.” has led to expanded operations in the country. “We will continue to evaluate the size, location, and structure of our organization to support the needs of our growing customer base,” the spokesman said.

The potential move offers a glimpse of the changing New York City economy. The long-dominant big banks have been shrinking their presence, cutting employees and vacating offices throughout Midtown and Financial District.

At the same time, technology, media and advertising companies are filling the void, led by large companies like Google Inc., Amazon.com Inc. and WPP ’s GroupM, a digital advertising firm that is slated to occupy offices initially designed as bank trading floors in 3 World Trade Center.

Up until now, Samsung hasn’t had a large presence in the city. The company’s U.S. headquarters is in Ridgefield Park, N.J., a suburb where it occupies more than 230,000 square feet, according to real estate research firm CoStar Group Inc. It has been bulking up its presence in the Bay Area amid the tech boom and is building two new campuses in that region – one focused on new research and development and the other for Samsung’s semiconductor unit.
If Samsung is looking to own and not lease its space, this and 55 Hudson Yards would be the logical contenders. Of all the Developers, Related is the only one who sells their space.

Perklol Nov 3, 2014 11:31 PM
:cheers: :5: :yes: :cheerleader:

Onn Nov 3, 2014 11:53 PM
Great news, really great! That's huge for New York! :) (Samsung also wouldn't happened to be interested in offices at 2,000 feet in Chicago would that?)

NYguy Nov 4, 2014 10:31 PM
Quote:
The South Korean company—which already has U.S. offices in New Jersey and in Silicon Valley, among other locations– recently reached out to New York landlords and developers requesting information about taking up to 1 million square feet of Manhattan office space in a new or existing tower, the executives said. Offices of that size generally hold between 5,000 and 7,000 employees.

The company’s real estate advisors at Cushman & Wakefield Inc. have talked to developers about planned towers at sites including Related Cos.’ Hudson Yards project on the far West Side of Manhattan and the World Trade Center, the executives familiar with the search said. The company is looking to own – not lease—a request that could limit the number of potential sites given that many landlords are primarily interested in leasing.

Yeah, that's pretty much the case with the large office tower proposals, one of the reasons the Chase plan went downhill. There are office towers for sale, but none with that type of vacancy, and those prices are sky high anyway. Related was able to work out deals with Coach and Time Warner, where they will own the portions of the buildings they are in. Maybe Tishman can do something with its site. Who knows, but whichever way it goes, it's only good news for the city.

NYguy Nov 5, 2014 2:47 PM
Just a little more on the Samsung watch...


http://www.northjersey.com/news/busi...site-1.1126376

Samsung N.Y. plans raise questions on Ridgefield Park site

NOVEMBER 4, 2014
BY LINDA MOSS AND HUGH R. MORLEY


Quote:
When Samsung Electronics Co. decided in 2009 to maintain and expand its U.S. headquarters in Ridgefield Park, it was considered a coup for North Jersey's office market. But a report Tuesday that the Korean consumer electronics giant is looking for 1 million square feet of space in Manhattan raised questions about the company's future in Bergen County.

Citing real estate executives, The Wall Street Journal reported that Samsung was searching for up to 1 million square feet of office space in either a new or existing property in Manhattan, and was likely to consider sites at Larry Silverstein's World Trade Center and Related Cos.' Hudson Yards development on the West Side.

amsung declined to comment on The Journal's report, as did the company's landlord in Ridgefield Park, KABR Real Estate Investment Partners LLC., which is based in the village.

"We can say that Samsung has seen dramatic growth in the U.S. that has led to expanded operations for the company in New Jersey, Texas and California in recent years," Samsung said in the same statement it gave to the Journal.

Samsung's statement noted that the company is building a new campus and R&D facilities in California, adding, "as we continue to see American consumers choose Samsung products, we will continue to evaluate the size, location, and structure of our organization to support the needs of our growing customer base."

New Jersey officials declined to comment directly on the report, or whether they have had talks with the company about its plans.

North Jersey has limited sites that could accommodate a demand for 1 million square feet of office space, but one possibility would be pharmaceutical giant Roche's 116-acre former campus, which straddles Nutley and Clifton on Route 3.

Samsung's hunt for space is just in its early stages, according to the Journal. But the news was a jolt to some in North Jersey's commercial real estate community, and to at least one Ridgefield Park official.

....New Jersey officials were encouraged last month when JPMorgan Chase dropped plans to build a two-towered, $6.5 billion headquarters on the West Side of Manhattan, after the city appeared unlikely to grant the size of tax breaks the bank sought.

The size of any break awarded to Samsung by New Jersey would depend on a variety of factors, including where the company planned to put its headquarters, and how many employees would occupy it. In May, for instance, the state awarded JP Morgan Chase a break of $225 million to build a 1-million square-foot office building in Jersey City, to house 2,600 employees already working in the state, and another 1,000 new jobs.

"I think that they [Samsung] see an opportunity to get major tax benefits and long-term facilities on the island of Manhattan," said L. Robert Lieb, president of Mountain Development Corp. in Woodland Park.

NYguy Jan 23, 2015 1:46 PM
It's a small thing, and I'm reaching a bit, but at least in the newer renderings they've stopped showing this "cheese grater" version...look closely.



http://www.pbase.com/nyguy/image/158913683/original.jpg



http://www.pbase.com/nyguy/image/158913684/original.jpg

wilfredo267 Jan 25, 2015 12:02 AM
it looks like it has a wavy skin. correct?

NYguy Jan 26, 2015 5:37 PM
Quote:
Originally Posted by wilfredo267 (Post 6888424)
it looks like it has a wavy skin. correct?

Yes. I would love to see a full version of it, even if it's likely temporary. Almost anything is an improvement from that earlier version.

NYguy Jan 30, 2015 2:33 AM
Here, you see what looks like a two-towered development, but Related hasn't selected an architect for the project yet.



http://chelseanow.com/2015/01/progre...-hudson-yards/


January 29, 2015


Quote:
Directly to the north is 50 Hudson Yards, a 2.3 million-square-foot, 62-story commercial tower at the corner of 33rd St. and 10th Ave. reaching 1,068 feet.

Plans for this building have changed, and Related has not yet announced the architect.

Not many other details are known about 50 Hudson Yards, although Related did offer JPMorgan Chase the opportunity to build it, after the company failed to meet their October 15, 2014 deadline for the tower directly west of it. After the city said they wouldn’t give Chase the $1 billion in tax break subsidies it wanted, the company reportedly decided to stay on the East Side


http://www.pbase.com/nyguy/image/158975985/original.jpg

L to R: Michael Samuelian, VP at Related Companies, Erica Maganti, Hudson Yards Creative Director and Dean Shapiro, SVP at Oxford Properties.


http://www.pbase.com/nyguy/image/158975986/original.jpg



http://1v9vs2crct23kkf8ttrqsixx.wpen..._HYards_55.jpg

NYguy Feb 10, 2015 1:51 PM
http://forum.skyscraperpage.com/forumdisplay.php?f=323

News Corp. to consider moving locations once lease expires


https://thenypost.files.wordpress.co...0&h=480&crop=1

By Steve Cuozzo
February 9, 2015


Quote:
News Corp and 21st Century Fox, the separate media giants controlled by Rupert Murdoch, are weighing options for a new Manhattan headquarters when their Midtown leases expire in 2020, sources said.

Possibilities under consideration include moving both companies into a newly constructed office tower, most likely at the World Trade Center or at one of several Hudson Yards sites.

Officials of neither company would comment. But a source familiar with the executives’ thinking said, “21st Century Fox Co-chief Operating Officer James Murdoch and CFO John Nallen are leading a review in consultation with News Corp senior management.”

It was understood Monday night that while the companies’ precise future space needs hadn’t yet been determined, it was “in excess of 1 million square feet” — likely more than their current, combined 1.2 million square feet under several different leases at 1211 and 1185 Sixth Ave.

If 21st Century Fox and News Corp opt for a new headquarters, it could be good news for two major developers. Larry Silverstein needs an anchor tenant to get 2 World Trade Center out of the ground, and Related Cos.’ chief Stephen Ross, who has two Hudson Yards towers going up, needs tenants to start work on two more that are planned.

However, a source cautioned that no decision has been made, and both 21st Century Fox and News Corp might stay in their current Sixth Avenue homes.

While five years remain on their current leases, that is not very long to devise a large and complex real estate strategy for technologically sophisticated media companies and affecting thousands of employees — especially if they decide to go to a brand-new building elsewhere.

News Corp divisions at 1211 and 1185 Sixth Ave. include Dow Jones, which publishes the Wall Street Journal, and the New York Post.
Divisions of 21st Century Fox include Fox News Channel, Fox Sports and some film and broadcast television units.

NYguy Mar 13, 2015 3:03 PM
Quote:
Originally Posted by NYguy (Post 6786765)
http://www.nytimes.com/2014/10/29/ny...wers.html?_r=0

JPMorgan Chase Drops Plan to Build 2 West Side Towers

By CHARLES V BAGLI
OCT. 28, 2014


Still more to the table...


http://www.bloomberg.com/news/articl...-office-market

Large Banks Getting Back Into Manhattan’s Office Market


MARCH 12, 2015
David M Levitt


Quote:
Big banks, the once-dominant industry for Manhattan landlords, are getting back in the office market and searching for new space after years of weathering the fallout of the financial crisis.

Deutsche Bank AG is in the market for about 1 million square feet of space, enough to anchor a new building. HSBC Holdings Plc is seeking as much as 700,000 square feet for its primary New York offices. Wells Fargo & Co. wants about 300,000 square feet to house some of its most productive investment bankers.

Manhattan landlords are again courting financial firms after the industry retreated to the sidelines in recent years, with technology and media companies driving leasing. Banks are looking for space that will allow them to shrink their footprint to control costs, consolidate employees from far-flung locations or update outdated quarters, said Michael Cohen, tri-state regional president for brokerage Colliers International.

.....Banks are “primed” to come back into the market, in part because of consolidations or lease expirations coming up, according to Marc Holliday, chief executive officer of New York-based SL Green Realty Corp., the city’s biggest office landlord.

.....Deutsche Bank is considering whether to depart, stay or scale back at its U.S. headquarters at 60 Wall St., a 1.66 million-square-foot tower it fully occupies and once owned, said two people with knowledge of the matter. The biggest German bank told landlords last year it is seeking at least 1 million square feet, said the people, who asked not to be identified because the discussions are private.

The Frankfurt-based company’s lease at 60 Wall, owned by Paramount Group Inc., runs to 2022, according to a person with knowledge of the agreement. That gives the bank time to consider new skyscrapers planned for the nearby World Trade Center or the Hudson Yards area west of Midtown, and could be completed around that time.

If Deutsche Bank chooses to stay, its offices, which were installed when it bought the building in 2001, would need extensive remodeling, one person who has seen the space said. The bank sold the tower to Paramount in 2007 for $1.18 billion, and agreed to remain there for another 15 years.

“We will not speculate on the location of our regional headquarters beyond 2022,” Renee Calabro, a Deutsche Bank spokeswoman, said in an e-mail. “However, as one of the largest foreign banks in the U.S., we remain committed to New York City.”

.....Other banks with leases ending early in the next decade include BNP Paribas SA, France’s largest lender, which has its main New York office at the Equitable Building at 787 Seventh Ave. in Midtown. The Paris-based bank last year issued a request to landlords for new offices, two people with knowledge of the matter said.

A BNP Paribas spokeswoman, Cesaltine Gregorio, said the bank was one of the tower’s original tenants when the building opened in 1986. She declined to comment on the company’s plans, as did Discretion Winter, a spokeswoman for the building’s owner, AXA SA.

HSBC, Europe’s biggest bank, faces a 2021 expiration of its lease at 452 Fifth Ave., an office tower south of the landmark New York Public Library building in Midtown, where it has about 313,000 square feet, according to data from research firm CoStar Group Inc. The London-based bank also has about 312,000 square feet of offices spread across four other Manhattan properties.

HSBC issued a request for proposals for 500,000 to 700,000 square feet, according to a person with knowledge of the effort. A spokeswoman for IDB Development Corp., the building’s Tel Aviv-based co-owner, declined to comment.

A decision to move large parts of an investment bank is a process that can take many years. It often starts with an internal study, determining the needs of individual units and the commuting patterns of their workers. Then, companies will identify suitable buildings and sites, and send out requests for proposals. Finally comes the selection of top choices, which sometimes may involve not just the bank, its landlord and brokers for each, but also city and state officials intent on keeping the bank as part of the local economy.

Some companies may decide to stay put, even though it’s more expensive to retrofit existing space than to relocate, especially to a new building, according to Tighe of CBRE. That’s because those costs can be spread over a longer stretch of time, she said.

.....JPMorgan, the world’s biggest investment bank, last year decided to keep its headquarters at its four-building Park Avenue campus just north of Grand Central Terminal, after a flirtation with Related Cos. to occupy two new towers at Hudson Yards.

The bank did agree late last year to take 122,000 square feet at Brookfield Property Partners LP’s 5 Manhattan West, a former industrial building west of Penn Station, to house some of its technology staff. The landlord is revamping the tower as part of its Manhattan West project, where plans call for more than 5 million square feet of new high-rise construction.

Wells Fargo is weighing its options at three of its New York office locations -- the landmark Seagram Building on Park Avenue and smaller spaces at 540 Madison Ave. and 640 Fifth Ave. -- where leases expire in early 2021, said Kevin Friedlander, a spokesman.

The San Francisco-based bank is looking for 200,000 to 300,000 square feet, according to people with knowledge of the matter. It’s expected to stay at the Socony Mobil Building on East 42nd Street, the base of its New York operations, where it has 372,000 square feet, CoStar data show.

.....The larger the need, the fewer options there are, even with new towers rising at Hudson Yards and the trade center, as well as SL Green’s 1 Vanderbilt project near Grand Central, said Greg Kraut, a principal at Avison Young, a brokerage with offices in New York. Toronto-Dominion Bank’s TD Bank unit last year agreed to locate a 200,000-square-foot regional headquarters there.

A bank could miss out on the right space if it doesn’t get moving, Kraut said.

“There’s a lot of pent-up demand,” he said. “There’s a sense that if we don’t so something now, are we missing the boat?”

Zapatan Mar 13, 2015 3:19 PM
Hmmm.. so good news and bad?

NYguy Mar 13, 2015 3:21 PM
Quote:
Originally Posted by Zapatan (Post 6949504)
Hmmm.. so good news and bad?
I don't see any bad news.

yankeesfan1000 Mar 13, 2015 8:30 PM
“There’s a lot of pent-up demand,” = Good news.

NYguy Mar 13, 2015 9:30 PM
^ That's right. And even though some will probably stay where they are, it makes more sense to consolidate where possible, which usually means a new tower that has more space. Then there is the issue of time. Some of these sites require demolition, and in the case of 15 Penn, the need to close the hotel. So a lease expected to run out in 5-7 years doesn't leave a lot of time for planning.


Quote:
The larger the need, the fewer options there are, even with new towers rising at Hudson Yards and the trade center, as well as SL Green’s 1 Vanderbilt project near Grand Central, said Greg Kraut, a principal at Avison Young, a brokerage with offices in New York. Toronto-Dominion Bank’s TD Bank unit last year agreed to locate a 200,000-square-foot regional headquarters there.

A bank could miss out on the right space if it doesn’t get moving, Kraut said.

From the article....

-Deutsche Bank AG is in the market for about 1 million square feet of space, enough to anchor a new building.

-HSBC Holdings Plc is seeking as much as 700,000 square feet for its primary New York offices.

-Wells Fargo & Co. wants about 300,000 square feet to house some of its most productive investment bankers.

-Toronto-Dominion Bank’s TD Bank unit last year agreed to locate a 200,000-square-foot regional headquarters to 1 Vanderbilt

But there's still the matter of other space hunts on in the city, including the previous one above...

-News Corp and 21st Century Fox, the separate media giants controlled by Rupert Murdoch, are weighing options for a new Manhattan headquarters when their Midtown leases expire in 2020, sources said......It was understood Monday night that while the companies’ precise future space needs hadn’t yet been determined, it was “in excess of 1 million square feet” — likely more than their current, combined 1.2 million square feet under several different leases at 1211 and 1185 Sixth Ave.

If 21st Century Fox and News Corp opt for a new headquarters, it could be good news for two major developers. Larry Silverstein needs an anchor tenant to get 2 World Trade Center out of the ground, and Related Cos.’ chief Stephen Ross, who has two Hudson Yards towers going up, needs tenants to start work on two more that are planned.

JR Ewing Jun 4, 2015 2:28 AM
Spectre0000:haha::haha::haha::haha:

Someone from Related who works on the HY informed me today that the whacky model with the residential and office towers sharing a base is not happening. It will be one super tall tower on the McD site when they get a tenant.

NYguy Jun 4, 2015 3:15 AM
Quote:
Originally Posted by JR Ewing (Post 7049954)
Spectre0000:haha::haha::haha::haha:

Someone from Related who works on the HY informed me today that the whacky model with the residential and office towers sharing a base is not happening. It will be one super tall tower on the McD site when they get a tenant.
That never made sense anyway. The large office floorplates are why this district was created. Related has another whole half of the railyards to play "residential" with.

JR Ewing Jun 5, 2015 1:43 AM
I agree. I like the initial proposal with all of the setbacks.


http://therealdeal.com/blog/2015/06/...on-the-market/
http://therealdeal.com/blog/2015/06/...on-the-market/

Zapatan Jun 5, 2015 3:15 AM
Quote:
Originally Posted by JR Ewing (Post 7051179)
It was okay... not super elegant though. I don't really think it fit with the complex. But whatever it's Hudson Yards, they'll redesign it another 45 times probably so the final should be something halfway decent.

aquablue Jun 5, 2015 6:56 AM
I didn't like the proposal at all. It looked like a re-hash of the old boxes from the 1960s and 1970's that dominate the lower manhattan waterfront. I hope they put up a more interesting design. That hideous wedding-cake building is not worthy of the futuristic looking area known as HY, in fact it would detract from it with its clunky old-fashioned form.

Pete8680 Aug 30, 2015 12:57 AM
It's Retro
 
Quote:
Originally Posted by aquablue (Post 7051430)
I didn't like the proposal at all. It looked like a re-hash of the old boxes from the 1960s and 1970's that dominate the lower manhattan waterfront. I hope they put up a more interesting design. That hideous wedding-cake building is not worthy of the futuristic looking area known as HY, in fact it would detract from it with its clunky old-fashioned form.
What is old is new again.:oldlady

JR Ewing Aug 30, 2015 1:39 AM
Quote:
Originally Posted by aquablue (Post 7051430)
I didn't like the proposal at all. It looked like a re-hash of the old boxes from the 1960s and 1970's that dominate the lower manhattan waterfront. I hope they put up a more interesting design. That hideous wedding-cake building is not worthy of the futuristic looking area known as HY, in fact it would detract from it with its clunky old-fashioned form.
That's ridiculous. It's a gorgeous design. Anyway, if News Corp signs on at 2 WTC, I doubt that Related would use this design given the similarity.

aquablue Aug 31, 2015 1:11 AM
Quote:
Originally Posted by JR Ewing (Post 7147169)
That's ridiculous. It's a gorgeous design. Anyway, if News Corp signs on at 2 WTC, I doubt that Related would use this design given the similarity.
There's nothing 'ridiculous' about my opinion on a subjective subject like design. The tower was a hideous dinosaur and belongs dead as a dino!

Crawford Aug 31, 2015 2:54 AM
Quote:
Originally Posted by aquablue (Post 7147964)
There's nothing 'ridiculous' about my opinion on a subjective subject like design. The tower was a hideous dinosaur and belongs dead as a dino!
It's true that opinions are completely subjective, but also true that 2 WTC is an almost universally lauded design among the people who count (all the other WTC-area architects and power players).

So your opinion, while perhaps not ridiculous, can be safely dismissed as irrelevant.

aquablue Aug 31, 2015 5:45 AM
Quote:
Originally Posted by Crawford (Post 7148060)
It's true that opinions are completely subjective, but also true that 2 WTC is an almost universally lauded design among the people who count (all the other WTC-area architects and power players).

So your opinion, while perhaps not ridiculous, can be safely dismissed as irrelevant.
Don't know what your talking about, pal. I'm talking about 50 HY. LOL. Perhaps learn to read carefully before getting on that high horse.

Hypothalamus Sep 1, 2015 12:08 AM
Related closes on Hudson Yards site for $30M

Developer went into contract at 507-511 W. 33rd in 2012
August 31, 2015 05:24PM
By E.B. Solomont

Quote:
- See more at: http://therealdeal.com/blog/2015/08/....egGmpAur.dpuf

The Related Cos. closed on another Hudson Yards site for $30 million, property records filed with the city Monday show. The site, located at 507-511 West 33rd Street, houses a five-story manufacturing building that measures just over 36,000 square feet. Under the current zoning, Related can put up a building of 79,000 square feet, or possibly more if the developer buys Hudson Yards building bonuses. The firm entered into contract for the site in May 2012, according to the deed, and closed on the buy Aug. 12. - See more at: http://therealdeal.com/blog/2015/08/....egGmpAur.dpuf

mrnyc Sep 4, 2015 9:15 PM
^ thats kind of a cool looking and very typical type of building for the area. i wonder what they will do? think hard and thoughtfully incorporate it or just knock it down for a glass something something.

Hypothalamus Sep 5, 2015 1:25 AM
It's part of the assemblage for 50 Hudson Yards -- this will be demo'd.

sparkling Oct 5, 2015 8:37 PM
Sale of far West Side McDonald's paves way for yet another Hudson Yards tower

Daniel Geiger
October 5, 2015
Quote:
The Related Cos. has acquired a McDonald's on the far West Side of Manhattan, paving the way for a mega-tower or a pair of super-tall skyscrapers at Hudson Yards.

McDonald's is closing its location at the corner of West 34th Street and 10th Avenue. Related is purchasing the site from the restaurant chain, which has owned it for decades, for an undisclosed sum. McDonald's filed a notice with the state at the end of September announcing that it plans to lay off all 65 employees at the location by the end of the year.

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