|
Ok then. I guess this thing is happening. At least it doesn't appear soul-deadeningly bad like some of the stuff that has been in this neighborhood in the recent past.
|
Quote:
When it comes to the supertalls, people and the media tend to focus so much on the so called "billionaire" supertalls. While those towers may be coming to a halt, at least temporarily, the new breed of supertalls - 45 Broad, 125 Greenwich, 9 DeKalb, CityView, 277 Cherry Street - are all supertall towers that aren't catering to the ultra luxury class, with some even providing affordable housing. It's just another evolution in the rise of the city's skyline. |
Quote:
Developers would be able to maximize each lot. The basic premise for this is that does not cost 2X as much to build a 1500 foot 200x200 wide tower on a 220x220x lot as it does to build a 1500 foot 100x100. |
|
Slight height bump?
http://therealdeal.com/2016/06/29/br...idi-supertall/ Breaking down the numbers on Madison Equities’ FiDi supertall Developers seek $287M construction loan for 84-story condo at 45 Broad June 29, 2016 01:20PM By Mark Maurer Quote:
|
I wonder if that figure is a AMSL reading. So structure height + above sea level or elevation of the parcel.
|
Quote:
Quote:
Keep in mind that the 1,115 ft height is the DOB filing height. It could very easily (and very likely) be above that. Quote:
That's about the height of the John Hancock Center in Chicago (minus antenna), just to get a sense of scale in height. The design and central location is what will help this one stand out, with taller and bigger brethren being so close. |
http://ny.curbed.com/2016/6/30/12063...g-624m-sellout
The Average Condo at Financial District Supertall 45 Broad Street Will Ask $2.7M A new filing indicates that the average cost of a condo in the building will be $2.7 million https://cdn0.vox-cdn.com/thumbor/agv.../45Broad.0.jpg BY AMEENA WALKER JUN 30, 2016 Quote:
|
Supertall at 45 Broad Street Will Come With New Subway Elevators
https://cdn3.vox-cdn.com/thumbor/VXb...d1-777x538.jpg Quote:
NYCurbed |
Glad to see some local improvements come along with this tower.
http://www.nyc.gov/html/lpc/download...New%20York.pdf |
I'd presume that they're getting an air-rights bonus for the transit improvement.
|
Some improvement. An ugly, bulky elevator box taking up precious sidewalk space.
|
^^Ugly absolutely, but in this case this is on the Broad Street pedestrian plaza, plenty of space
|
I still cannot get with this tower and cannot get a stretched Torre Velasco in Milan out of my mind.
|
Quote:
|
Chinese developer sunk $70M into 45 Broad
Gemdale is an investor in the 206-unit FiDi condo August 17, 2016 04:30PM By E.B. Solomont One of China’s largest developers apparently paid $69.9 million for a stake in Madison Equities’ 45 Broad Street condominium, according to new public records. Gemdale Properties and Investment’s involvement in the Financial District development was first reported in June, but the value of its stake was not previously known. Public records now show it paid nearly $70 million for an 81.3 percent stake in a portion of the project controlled by Robert Gladstone’s firm. Gladstone is developing 45 Broad in partnership with Italian real estate company Impresa Pizzarotti & CSpA and AMS Acquisitions. The planned, 1,100-foot tower at 45 Broad will have 206 condo units, a majority of which will be priced at $4 million and below. According to an offering memorandum for construction financing obtained by The Real Deal in June, an affiliate of Gemdale will raise up to $55 million through the EB-5 visa program at a projected rate of 5.5 percent. Gemdale also agreed to fund bridge capital up to $55 million if the EB-5 funding doesn’t come through at the time of the construction loan’s closing. The partners are projecting a residential sellout of $560.6 million and a total profit of $137.2 million, the memo shows. Gladstone previously said Gemdale was drawn to the pricing of the units. “We live in a global society; everything is a collaboration today,” he told the Wall Street Journal last year. “This allows [Madison Equities] to buy materials from two submarkets and take advantage of the best materials, price and delivery.” Madison and partners paid $86 million for the site last year. The partners are seeking $75 million in financing from EB-5 investors for the CentraRuddy-designed project, which is expected to be completed in 2018. more: http://therealdeal.com/2016/08/17/ch...=posts_popular |
Quote:
I would say 2018 is a bit optimistic, but... |
^ No way this will be completed in 2 years, more like 4 if they start soon.
|
I notice developers tend to be very optimistic about timelines. If I've learned anything over the years, it's that they are usually off by 5-7 months. Not as bad as Miami though when it comes to the optimism. That in itself is a different story. But at least with NYC, they will most of the time become a reality. Even projects that have been stalled for years, spring back to life. But in terms of financing news, this is nice. Also good that EB-5 and Chinese capital is funding it. In other words, it's good to go.
They could technically build this in 2 years. Lets say it starts this fall or Q4 of 2016. Given a 2018 completion date, let's assume wither Q3 of Q4, it's very possible that it may. I do wonder if this started in the fall, would this finish faster than 125 Greenwich? I think so. That project is crawling. Shvo is terrible that's why. He is not Stern or Barnett. Shvo just has better looking hair, but hair does not matter, supertalls do! |
http://www.mingtiandi.com/real-estat...condo-project/
GEMDALE INVESTS $70 MIL IN NYC CONDO TOWER FOR 4TH US DEAL IN 12 MONTHS Quote:
|
| All times are GMT. The time now is 7:23 AM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Prev