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Originally Posted by Zapatan
Right, most renderings depict it offset from/above the existing property, that makes more sense. We would have heard this thing was cancelled otherwise, due to Venezuela's refusal to sell the Consulate. Thanks for clearing that up.
Sure, but given who he is would we expect otherwise? His narcissism, persistence and "chutzpah" is probably the reason this thing still has a chance. I know you hate it, as do many others, but there's a good chance the design isn't completely final.
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It's Manhattan real estate. That particular piece is part of a political issue at the moment (we won't get into politics). But it's Manhattan real estate, and money talks. And Macklowe has no more "chutzpah" than a Gary Barnett, or a Larry Silverstein. They will build to the market (it's what developers do).
Quote:
Originally Posted by JMKeynes
He’ll build something here. He can easily build a very tall condo exclusively on the 52nd St side.
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See above. He will build to the market, but if he's relying on the rezoning to build here, residential isn't really on the table.
If macklowe isn't able to acquire that piece of the puzzle, the portion of the base on the 51st Street size next to the landmark on the right would be taken out of play. That could have implications for the public auditorium that's supposed to sit just above, but not really much for the tower itself besides a smaller entrance on that street.
You can see how that portion (7 E. 51) fits into the puzzle.
Andreas Komodromos