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Old Posted Mar 26, 2014, 12:31 PM
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Quote:
Originally Posted by Crawford View Post
I doubt that massing model will resemble the final product, as the model was back when American Bible Society wanted to keep a street-level presence at the location.

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.

That, and the $300M asking price...


http://www.crainsnewyork.com/article...-from-hq-sale#
American Bible Society wants $300M for HQ




Daniel Geiger
March 24, 2014


Quote:
On the corner of West 61st Street, a residential building on the site would be a block from Central Park and in close proximity to some of the city’s priciest apartment addresses, including 15 Central Park West, the Time Warner Center and the Trump International Hotel & Tower, all buildings where apartments sell for thousands of dollars per square foot.

Given the stratospheric values in the area, a buyer could pay in excess of $1,000 for the development rights alone, what would likely be a near-record sum for land in the city.

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.


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