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View Full Version : NEW YORK | 432 Park Avenue (Drake Hotel dev.) | (1,396) FT / 432 M | 89 FLOORS


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ATLksuGUY
Oct 13, 2012, 3:13 AM
THIS is the building I'm most excited about, that is currently under construction in the U.S.. But soon with the Hudson Yards, 225 w 57th, and many more, we will have one of the best periods of NY supertall construction that we could have wished for. And with that, one of the best periods of U.S. supertall construction. Gotta love NYC. These towers, while not in my home town (ATL), still make me proud to be an American. Hope we all can appreciate this. Now, if we could get a New Yorker to get us some up close pics with a real camera!!! JK

:banana::banana:

jd3189
Oct 13, 2012, 3:26 AM
October 11, 2012



http://www.pbase.com/nyguy/image/146624641/original.jpg
www.432park.com


http://www.pbase.com/nyguy/image/146624642/original.jpg
www.432park.com


http://www.pbase.com/nyguy/image/146624643/original.jpg
www.432park.com
:omg: Damn, I missed a lot. This baby is going to be seen full above street by the end of this year.

mat97
Oct 13, 2012, 6:31 AM
This construction is very fast!!!:cheers::banana::worship:

SFContributor
Oct 13, 2012, 7:53 AM
^Indeed. It'll be at street level in no time at this pace.

TechTalkGuy
Oct 13, 2012, 2:23 PM
I wonder if NYGuy is (secretly) the project manager for this tower? :typing:

NYguy
Oct 13, 2012, 6:59 PM
I wonder if NYGuy is (secretly) the project manager for this tower? :typing:

NO, I would have far more information on what the heck is going on here.

The site looks like it will "overflow" before long. Getting ever so closer to the street. Seems like just yesterday they were digging and demolishing.

sw5710
Oct 15, 2012, 1:37 AM
today 9/16/2012 8:00 am

http://farm9.staticflickr.com/8312/7991580130_360403203e_b.jpg (http://www.flickr.com/photos/ceva321/7991580130/)
Untitled-1 copy (http://www.flickr.com/phot
va321/7991580130/) by Ceva321 (http://www.flickr.com/people/ceva321/), on Flickr

Going back a month. Does anyone know how far below street level the concrete pad is here at the bottom of the pit.

NYguy
Oct 15, 2012, 7:38 AM
Going back a month. Does anyone know how far below street level the concrete pad is here at the bottom of the pit.


Roughly 50 feet.


http://www.pbase.com/nyguy/image/141803322/original.jpg

Ed007Toronto
Oct 15, 2012, 1:23 PM
Not much of a basement for such a tall tower. Very efficient.

sw5710
Oct 15, 2012, 5:08 PM
Roughly 50 feet.


http://www.pbase.com/nyguy/image/141803322/original.jpg

Thanks NY guy

NYguy
Oct 15, 2012, 5:47 PM
Cam shot (October 15, 2012)


http://www.pbase.com/nyguy/image/146724314/original.jpg



http://www.pbase.com/nyguy/image/146724315/original.jpg



http://www.pbase.com/nyguy/image/146724316/original.jpg

MrSlippery519
Oct 15, 2012, 7:59 PM
Seems like all of the rebar for the columns are now in place...also they started work quite early today and are working late (usually done 3:00-3:30pm) and they are still active on site right now (not a full crew but the crane is going)

NewYorkDominates
Oct 16, 2012, 1:41 AM
RW came across information today that this will indeed be clad in concrete.This just got more interesting./'S

Downburst
Oct 16, 2012, 2:21 AM
I'd be lying if I said I wasn't disappointed. Does RW have a reason why? I would have liked the brushed nickel they were originally planning.

Illithid Dude
Oct 16, 2012, 2:23 AM
RW came across information today that this will indeed be clad in concrete.This just got more interesting.0_o

Concrete? Oy vey. This building is going to look like a 1500 foot communist block.

ThatOneGuy
Oct 16, 2012, 2:25 AM
^^ Not if it's properly maintained.

lakegz
Oct 16, 2012, 3:24 AM
There is a building close to where I live that has concrete walls. While I do not necessarily like the irregular fenestration pattern of this building, I do have to say that I like the texture and depth the concrete facade gives the building.
Here's a photo
Beijing Yintai Center
http://farm8.staticflickr.com/7259/7554431174_86d0c9d5c2_z.jpg
http://www.flickr.com/photos/sftrajan/7554431174/
http://farm4.staticflickr.com/3635/3436345001_3e014454a0_z.jpg?zz=1
www.meiguoxing.com

ardecila
Oct 16, 2012, 4:37 AM
^ Yeah, that's a John Portman building.... he designed it with inspiration from a Chinese lantern.

SkyscrapersOfNewYork
Oct 16, 2012, 6:31 AM
Concrete...? I'm starting to wish city planning had power over this one...

NYguy
Oct 16, 2012, 11:28 AM
They're moving along here faster than even I would have thought...

(Oct 16, 2012)


http://www.pbase.com/nyguy/image/146740961/original.jpg
www.432park.com

mrnyc
Oct 16, 2012, 5:08 PM
yes the speed is amazing. i hope construction can continue at this pace right to the top because that would be a lot of fun to watch!

in the meantime, i am looking forward to better renders at some point.

Guiltyspark
Oct 16, 2012, 8:33 PM
432 park avenue it the first skyscraper to surpasse empire state building in midtown of manhattan !!!

*will be

Dac150
Oct 16, 2012, 11:05 PM
May be redundant in saying this, though the progress is coming along swiftly.

NYguy
Oct 17, 2012, 12:23 PM
^ The speed jumps out at you, esoecially when people were speculating the tower might be stalled not too long ago.


October 17, 2012

http://www.pbase.com/nyguy/image/146764080/original.jpg
www.432park.com

Ed007Toronto
Oct 17, 2012, 1:28 PM
Street level already. Cool!

NYguy
Oct 17, 2012, 1:43 PM
Street level already. Cool!


Not quite...view from another angle...



http://www.pbase.com/nyguy/image/146765323/original.jpg
www.432park.com

NYguy
Oct 19, 2012, 1:36 PM
Screen shot from Foster's presentation today, various models of 425 with 432 Park towering over...

http://mas.org/


http://www.pbase.com/nyguy/image/146800578/large.jpg

NYguy
Oct 19, 2012, 8:32 PM
Looking back at that great moment...


http://www.432parkavenue.com/new-construction-in-NYC/pictures/2012/luxury-432-park-avenue-apartments-in-nyc-on-10-03-12-2/


http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-112.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-13.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-181.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-331.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-36.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-371.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-401.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-42.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-431.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-443.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-452.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-54.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-551.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-561.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-624.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-5910.jpg



http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-6.jpg

Hypothalamus
Oct 19, 2012, 8:35 PM
Some photos from the 432 Park Avenue website: Just picked out the ones that show 432PA's neighbors =) This thing is in the middle of a concrete jungle!!!!!

http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-54.jpg

http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-551.jpg

http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-561.jpg

http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-571.jpg

http://www.432parkavenue.com/new-construction-in-NYC/wp-content/uploads/2012/10/C-5910.jpg

Link to Website: http://www.432parkavenue.com/new-construction-in-NYC/

All credit goes to them!

Hypothalamus
Oct 19, 2012, 8:37 PM
NYGuy, You must of posted the pictures while I was making my post =) :cheers:

-Filipe-
Oct 19, 2012, 9:09 PM
Screen shot from Foster's presentation today, various models of 425 with 432 Park towering over...

http://mas.org/


http://www.pbase.com/nyguy/image/146800578/large.jpg

what tower is that in the back?

HomrQT
Oct 19, 2012, 10:08 PM
what tower is that in the back?

Kind of looks a little like the Trump Tower in Chicago

Crawford
Oct 19, 2012, 10:15 PM
Kind of looks a little like the Trump Tower in Chicago

I think it's the upcoming Norman Foster tower near the United Nations.

Notice that it looks like 1 + 2 UN Plaza (the complex just to the north of the UN) in front of the Foster tower.

If it is that site on First Ave., it will be a nice complement to Trump World Tower.

-Filipe-
Oct 19, 2012, 10:27 PM
I think it's the upcoming Norman Foster tower near the United Nations.

Notice that it looks like 1 + 2 UN Plaza (the complex just to the north of the UN) in front of the Foster tower.

If it is that site on First Ave., it will be a nice complement to Trump World Tower.

oh it looks massive i was hoping thats actually what the height of it would be lol

DesignerVoodoo
Oct 19, 2012, 11:26 PM
Kind of looks a little like the Trump Tower in Chicago

It is 432 Park Avenue only in a larger scale.
I thought it looked like 425 Park Avenue but put the incorrect address in. Sorry, and I think I am one of the few who actually live in Manhattan.

-Filipe-
Oct 19, 2012, 11:44 PM
It is 432 Park Avenue only in a larger scale.

i dont think so, even on the wall in the back theirs a picture of it

rockinrolla
Oct 20, 2012, 2:29 AM
I'm not sure if anyone has asked but will there an observation floor? thanks

NYC GUY
Oct 20, 2012, 2:44 AM
^^^
I haven't heard anything about one i doubt it cause this is a residential building.

Guiltyspark
Oct 20, 2012, 3:12 AM
It is 432 Park Avenue only in a larger scale.

No, it very clearly has setbacks.

Guiltyspark
Oct 20, 2012, 3:14 AM
^^^
I haven't heard anything about one i doubt it cause this is a residential building.

Yeah, there is no chance for an observation deck. This place will be a vacation home for millionaires and billionaires. They will not want to have the public tramping through.

NYguy
Oct 20, 2012, 1:20 PM
what tower is that in the back?

Variations of Foster's 425 Park Avenue.
http://forum.skyscraperpage.com/showthread.php?t=198983


http://www.pbase.com/nyguy/image/146800578/large.jpg

hunser
Oct 20, 2012, 6:52 PM
Man they surely don't waste any time. Every day there's something new to discover. Not to mention when you are away for about a month... seems to be like I missed quite a lot!

And btw I really don't believe that the mentioned concrete cladding will look ugly, I mean it's a prime building for millionaires and billionaires after all...

Noll
Oct 20, 2012, 8:31 PM
http://farm9.staticflickr.com/8049/8106409368_50d72e292b_b.jpg (http://www.flickr.com/photos/danielnoll/8106409368/)
432 Park Avenue (http://www.flickr.com/photos/danielnoll/8106409368/) by Daniel Noll (http://www.flickr.com/people/danielnoll/), on Flickr

http://farm9.staticflickr.com/8048/8106397917_2d94bf52e8_b.jpg (http://www.flickr.com/photos/danielnoll/8106397917/)
432 Park Avenue (http://www.flickr.com/photos/danielnoll/8106397917/) by Daniel Noll (http://www.flickr.com/people/danielnoll/), on Flickr

Crawford
Oct 20, 2012, 8:33 PM
Variations of Foster's 425 Park Avenue.


Yep, you're right. I thought for a sec it was Foster's design for 1st Ave./46th Street, but clearly it's just different versions of 425 Park.

I am very intersted in the 1st Ave. site though. I hope that renderings are released soon. So many towers coming soon!

rockinrolla
Oct 20, 2012, 8:52 PM
Yeah, there is no chance for an observation deck. This place will be a vacation home for millionaires and billionaires. They will not want to have the public tramping through.

okay,Thanks it would be a nice view :)

kenratboy
Oct 20, 2012, 9:33 PM
I'm not sure if anyone has asked but will there an observation floor? thanks

Not a chance with the tiny floors, site, and elevator system.

xnyr
Oct 21, 2012, 6:16 PM
http://farm9.staticflickr.com/8049/8106409368_50d72e292b_b.jpg (http://www.flickr.com/photos/danielnoll/8106409368/)
432 Park Avenue (http://www.flickr.com/photos/danielnoll/8106409368/) by Daniel Noll (http://www.flickr.com/people/danielnoll/), on Flickr

http://farm9.staticflickr.com/8048/8106397917_2d94bf52e8_b.jpg (http://www.flickr.com/photos/danielnoll/8106397917/)
432 Park Avenue (http://www.flickr.com/photos/danielnoll/8106397917/) by Daniel Noll (http://www.flickr.com/people/danielnoll/), on Flickr

Thanks for closeups - Noll. Sometimes the webcams don't convey all the details you get up close.

Still amazed by the sequencing of construction (i.e. slab formwork placed
before underlying column formwork and concrete poured) Never saw that happen.

Ed007Toronto
Oct 22, 2012, 12:40 PM
Rebar is above street level! So it begins.

jackster99
Oct 22, 2012, 9:26 PM
Wow they're working late today. It's 5:25, and the crane is still in action and workers are still walking around the site. I wonder what's going on. Don't they usually finish around 3:30?

kznyc2k
Oct 22, 2012, 9:27 PM
This is from this past Thursday the 18th:

http://farm9.staticflickr.com/8473/8111606731_8f972835f1_b.jpg

MrSlippery519
Oct 23, 2012, 12:11 AM
Wow they're working late today. It's 5:25, and the crane is still in action and workers are still walking around the site. I wonder what's going on. Don't they usually finish around 3:30?

They usually do yes however they are still working at 8:10 now...they are pouring the columns by the looks of it as you can see the crane moving the hopper around.

ATLksuGUY
Oct 23, 2012, 1:42 PM
BIG POUR TODAY :banana:


http://i192.photobucket.com/albums/z10/ddawguga/pour.png



Some crane action. :cheers:

http://i192.photobucket.com/albums/z10/ddawguga/pour2.png

NYguy
Oct 23, 2012, 1:48 PM
^ It is sweet to watch. This one will sneak up on people more than One57 did.

Another shot...

http://www.pbase.com/nyguy/image/146890952/original.jpg
www.432park.com

JACKinBeantown
Oct 23, 2012, 2:53 PM
I haven't seen them pour any concrete for the pillars. Have they poured them for the bottom basement level and I just missed it? Can someone please enlighten me on the process?

rack776
Oct 23, 2012, 4:55 PM
WOW! what a contrast on this thread compaired to watching 1WTC for a few years.....One page has the crane is being delivered the next page has it set up and pouring concrete!

I hope its a mild winter so they can keep this pace up!

How do weather/daylight conditions affect the construction of all concrete buildings?
I know 1WTC had a lot of missed steel lifting days due to wind, rain, etc.

Could these guys possibly run 18-24 hours a day untill its finished?

Good job keeping us updated with the photos....its appreciated.

jdrinboston
Oct 23, 2012, 5:18 PM
The progress so far on this site has been amazing. A quick question though, and I don't mean to be a buzz kill.

1. Is this project fully financed? I haven't seen anything in the press indicating that financing has been closed. I saw some articles from the spring saying they were close to finalizing, but nothing saying its final.

2. Has there been a formal marketing program launched yet for this building? I ask only to get the sense of how committed these developers are to going up to the full 1,398 ft. It would be a let down to see this go up to 7 or 800 feet and stop.

MrSlippery519
Oct 23, 2012, 5:40 PM
I haven't seen them pour any concrete for the pillars. Have they poured them for the bottom basement level and I just missed it? Can someone please enlighten me on the process?

They were pouring them last night from what I could tell...it was kinda dark on the site however they were pouring concrete and it was not for the floors.

NYguy
Oct 23, 2012, 11:47 PM
I don't mean to be a buzz kill

Don't worry, you won't be.


1. Is this project fully financed? I haven't seen anything in the press indicating that financing has been closed.

I haven't either, but its not a concern at this point, as long as they are building I don't really care when they get it, if they haven't already.


2. Has there been a formal marketing program launched yet for this building? I ask only to get the sense of how committed these developers are to going up to the full 1,398 ft. It would be a let down to see this go up to 7 or 800 feet and stop.

They are going up to the full height. They are going to milk this property for what it's worth, and it is one of the most valuable properties in the country.


http://online.wsj.com/article/SB10000872396390444450004578000351465020048.html?mod=googlenews_wsj
A View Far Above the Rest
Park Avenue Tower Puts City's Tallest Occupied Space on Market for $85 Million

September 16, 2012
By JOSH BARBANEL


It may be the apartment with the ultimate bragging rights in New York—the highest occupied space in this city of skyscrapers, even taller than the observation deck of One World Trade Center. It can be yours for $85 million. The six-bedroom penthouse condominium on the 95th floor is one of the more unusual apartments that have just gone on the market at a new 1,397 foot aluminum and glass tower under construction at 432 Park Ave. on the site of the old Drake Hotel.

Documents show the total asking price for 432 Park Ave.'s 122 condominiums—along with staff rooms, office suites and wine cellars—is now $2.43 billion, a record for a Manhattan condominium.

Nevertheless, a small group of real-estate brokers have already been given briefings on the development. A show room is due to open before the end of the year, brokers said.

According to condo records filed with the state, 432 Park Ave. will have unusually high ceilings allowing for large picture windows to look out at the city—15 feet between floor slabs and ceiling heights of 12-and-half feet. The penthouse floor would be called the 95th but is actually on the 78th floor because the building will skip some floor numbers.


When marketing begins in full, we'll finally get better renderings, both inside and out, of the tower.

NYguy
Oct 24, 2012, 5:06 PM
October 24, 2012


http://www.pbase.com/nyguy/image/146920173/original.jpg
www.432park.com

ATLksuGUY
Oct 24, 2012, 6:19 PM
The concrete has barely dried and already the are putting a new floor over it. Love this speed.



http://i192.photobucket.com/albums/z10/ddawguga/newfloor.png

MrSlippery519
Oct 25, 2012, 12:59 PM
More concrete starting in a few minutes, not sure where exactly yet but the pumping vehicle just pulled up.

ATLksuGUY
Oct 25, 2012, 1:38 PM
More concrete starting in a few minutes, not sure where exactly yet but the pumping vehicle just pulled up.

Yep, pouring now it appears...

:tup:


http://i192.photobucket.com/albums/z10/ddawguga/2pour.png


Looks like some of the columns.

MrSlippery519
Oct 25, 2012, 1:52 PM
Looks like some of the columns.

Yep looks like it, I doubt they will pour the current floor until next week unless they do it in sections of course.

:tup:

NYguy
Oct 25, 2012, 1:53 PM
Another look...


http://www.pbase.com/nyguy/image/146937168/original.jpg
www.432park.com


http://www.pbase.com/nyguy/image/146937169/original.jpg
www.432park.com

mat97
Oct 25, 2012, 3:31 PM
^^^:whatthefuck:Amazing progress!!:cheers::banana::worship:

Harley613
Oct 25, 2012, 5:10 PM
Why have we still not seen a single truly high quality render of this building? The concept art is all pretty crappy considering the scope of this project.

NYguy
Oct 26, 2012, 12:18 AM
Why have we still not seen a single truly high quality render of this building? The concept art is all pretty crappy considering the scope of this project.

We're not the target demographic. Of course, when marketing begins in full, more pubicly available images will be seen. It's a very tall tower, but considering the number of units available, not "large" by New York standards.

Dac150
Oct 26, 2012, 1:56 AM
Very pleasing to see visible progress everyday!

NYguy
Oct 26, 2012, 11:59 AM
http://newconstructionmanhattan.com/blog/2012/10/pricing-for-432-park-avenue-s-views-volume-and-value

Pricing for 432 Park Avenue’s Views, Volume and Value


http://newconstructionmanhattan.com/sites/default/files/uploads/432_park_avenue.jpg

10/18/2012


When complete in April 2015, 432 Park Avenue will exceed One57’s height by almost 400 feet, but it is also in the running to compete for another sky-high title: the epic price tags on 147 units which appraisers have valued at a total of $2.47 billion. Developers Harry Macklowe and Los Angeles based CIM Group and architect Rafael Viñoly are certainly faced with a project of brave proportions. Harry Macklowe is hardly known for being risk averse, but after a series of well-timed deals amidst current condo-buying frenzy, 432 Park Avenue will soon be at the top of the NYC real estate world.

432 Park Avenue’s hype rose out of its height. From renderings that have been circulating since June, the building literally casts shadows on its neighbors. Judging from Viñoly’s previous designs, strictly right angled concrete and glass facades can become too imposing for small scale residential construction, but for his skyscraper-apartment, material brutality is a necessity and statement. The building’s dominating characteristics are apt considering New York City’s bustling skyscraper construction: it needs to stand out, and both its architecture and amenities achieve that.

Manhattan’s condominiums are experts at concealing luxury behind formidable facades, and 432 Park Avenue is expected to do just that. Unlike One57, the building will not have a hotel; rather, it will feature a private restaurant on the 12th floor with a terrace, a “club unit” complete with a fitness center, pool, whirpool, sauna, steam room, library and screening rooms from floors 12 to 16, 18 wine cellars, 3 retails spaces, and a car drop-off area similar to that of 15 Central Park West. Out of the 128 available units, ranging in size from 1,390 square feet to more than 8,000 square feet for the projected $82.55 million penthouse, CIM developers expects to pre-sell 40 of them followed by four a month beginning in October 2014.

MrSlippery519
Oct 26, 2012, 2:06 PM
Pouring the core walls this morning by the looks of it, I would expect mid next week we will see the floor slab pouring started as it looks like the rebar placement is moving along quickly.

NYguy
Oct 26, 2012, 2:49 PM
http://www.pbase.com/nyguy/image/146954156/original.jpg



http://www.pbase.com/nyguy/image/146954159/original.jpg



http://www.pbase.com/nyguy/image/146954160/original.jpg



http://www.pbase.com/nyguy/image/146954161/original.jpg

photoLith
Oct 26, 2012, 3:59 PM
Holy shit!

uaarkson
Oct 26, 2012, 4:00 PM
It all comes down to the cladding. With bright white cladding and silvery windows, this tower will look stunning.

rack776
Oct 26, 2012, 4:33 PM
Anyone local see signs of protecting the concrete from the storm they are predicting?

I'm amazed they are pouring fresh concrete with the weather thats predicted for early next week.

How quickly does the concrete they use in a project like this take to set up and cure?

Crazy fast progress so far...can't wait to see it rise above the other buildings

manchester united
Oct 26, 2012, 5:44 PM
In the article there is written that this building will be completed in April 2015 !!!

MrSlippery519
Oct 26, 2012, 5:45 PM
Anyone local see signs of protecting the concrete from the storm they are predicting?

I'm amazed they are pouring fresh concrete with the weather thats predicted for early next week.

How quickly does the concrete they use in a project like this take to set up and cure?


They set up a new floor over a pour less than 48 hours old, so while total cure time is likely long after the initial set up its pretty well protected. Unless the site completely flooded I doubt they are concerned with the weather.

yankeesfan1000
Oct 26, 2012, 6:27 PM
It all comes down to the cladding. With bright white cladding and silvery windows, this tower will look stunning.

The developer is going with concrete, but wants it as white as possible and as smooth as possible. It could end up looking quite nice depending on how white and how smooth they get it.

401PAS
Oct 27, 2012, 1:56 PM
Pouring concrete on Saturday!!! Guess with the prices they anticipate getting for these places they can pay overtime no problem...

TechTalkGuy
Oct 27, 2012, 3:34 PM
Pouring concrete on Saturday!!! Guess with the prices they anticipate getting for these places they can pay overtime no problem...

Time is money and when the demand for sky-high prices is there, overtime is very much welcome. :)

bigreach
Oct 27, 2012, 6:07 PM
Seems like every 1/4 of the bldg there's open floor space, is that for wind to blow thru, or some kind of mechanical floors?

NYguy
Oct 27, 2012, 8:29 PM
Seems like every 1/4 of the bldg there's open floor space, is that for wind to blow thru, or some kind of mechanical floors?

It is mechanical space, and outdoor space.

RoldanTTLB
Oct 28, 2012, 6:04 PM
It's also part of the passive sway dampening, yes.

NYguy
Oct 28, 2012, 6:18 PM
(October 28, 2012)

http://www.pbase.com/nyguy/image/146992889/original.jpg




http://www.pbase.com/nyguy/image/146992892/original.jpg

NYC4Life
Oct 28, 2012, 6:34 PM
^^^Construction suspended in preparation for the hurricane.

Ed007Toronto
Oct 29, 2012, 12:49 PM
Exciting to see the progress so far.

CUclimber
Oct 30, 2012, 2:40 AM
I still can't figure out why the crane's base isn't squared up to the tower.

hunser
Oct 30, 2012, 1:17 PM
56th Street cam is online. 57th Street and Park cam are down. Looks like the construction site did quite well during the storm. :tup:

MrSlippery519
Oct 30, 2012, 1:34 PM
56th Street cam is online. 57th Street and Park cam are down. Looks like the construction site did quite well during the storm. :tup:

Park Ave cam is fine for me, and yes I agree everything on site looks good. :cheers:

Inkoumori
Oct 30, 2012, 1:36 PM
probably not right for this thread- but my only chance at a computer-:( Anyone In NYC able to come out there are elderly trapped in waterlogged apt's along the waterfront Brooklyn to Queens- take a walk and knock on doors- shelters can be found here;

http://www.google.org/crisismap/2012-sandy-nyc

Be a good neighbor ;)

TechTalkGuy
Oct 30, 2012, 1:43 PM
:previous: Thank goodness no one was injured or any damage occurred.
In a city full of skyscrapers and cranes, it's a miracle that only one crane sustained damage.

Ed007Toronto
Oct 30, 2012, 1:49 PM
Yes rather amazing considering the power of the storm.

MrSlippery519
Oct 30, 2012, 2:34 PM
Since the site looks untouched looking at the cam, do you guys think we might see people back on site tomorrow? At least assessing the site for any damage maybe not full work crew?

NYguy
Oct 31, 2012, 2:17 PM
Power back on, but internet service is in the stone age...will post what I can.

Anyway, financing is set.....:)


http://online.wsj.com/article/SB10001424052970204789304578088760846981682.html?mod=googlenews_wsj

Manhattan Tower Builds on a Foundation

http://si.wsj.net/public/resources/images/OB-VE137_DWEEK_DV_20121030180154.jpg

October 30, 2012
By CRAIG KARMIN



The developers of a planned $1.25 billion residential tower on New York City's Park Avenue are turning to an unlikely source for a construction loan: a foundation launched by a hedge-fund manager famous for donating a portion of his profits to charity.

The Children's Investment Fund Foundation has agreed to lend $400 million to CIM Group, the Los Angeles real-estate investors said. With $3.5 billion in assets, the foundation is one of Europe's largest. It was started 10 years ago by London-based investor Christopher Hohn and his wife. The loan represents the final piece of the financing package for CIM, which, along with New York developer Harry Macklowe, are building the 1,395-foot-high condominium tower in midtown Manhattan.

Real-estate observers said foundations rarely make new construction loans, considered among the riskiest property debt. For 432 Park, the foundation's risk was reduced in part because CIM has provided or raised about two-thirds of the $1.25 billion price tag in equity. The firm typically has relied more on equity than debt in its property investments. Mr. Shemesh declined to describe specifics of the debt but said it was a nonrecourse loan, meaning the lender can't go after other CIM assets in the event of a default. He added that he expects 432 Park to be completed by the end of 2015, "and we have more than twice that amount of time to pay back the loan."

jdrinboston
Oct 31, 2012, 2:45 PM
That's great news!

Even better news, it appears workers are back on site today.

Best wishes to all in the New York/New Jersey area dealing with Sandy's aftermath.

Dac150
Oct 31, 2012, 3:00 PM
That's great!

LeftCoaster
Oct 31, 2012, 4:57 PM
This is being financed 2/3 by equity? Yikes, what a mess.

MrSlippery519
Oct 31, 2012, 5:16 PM
Crane inspection is underway, also good news about it being completely financed.

flemington
Nov 1, 2012, 2:03 AM
Great news guys!

Crawford
Nov 1, 2012, 4:52 PM
This is being financed 2/3 by equity? Yikes, what a mess.

That's an extremely high ratio, and is obviously very conservative.

Are you implying that you would prefer less equity, and more risk? I don't get it.

NYguy
Nov 1, 2012, 5:11 PM
As long as it's built and paid for, who cares how they did it...:shrug:

I'm more interested in watching it rise.