This is view from 56th Street looking north around 6th. Is this Solow's or Durst's lot? Are they waiting to buy 5 story building in NE corner? This is a large property on one of most prestigious streets in Manhattan just sitting there undeveloped and gathering dust.

http://farm3.staticflickr.com/2807/9...7dabec28_b.jpg


http://farm8.staticflickr.com/7297/9...22148415_b.jpg

^ Send them an email.


One of the most ridiculous statements I've seen on this forum, and there have been many.



It will be interesting to see how this shapes up over the store. The article also mentioned there would be a store entrance on Broadway, which I kinda figured there would.

That's a fair assessment but it's incomplete. Nobody in their right mind believes that we can build infinite amounts of high end condos even in a city like NY and i'm sure at some point demand for condos used as actual residences will fall, but you have to consider the market we're in. A large portion of of people buying those condos buy them as investments as the global economy is still shaky and some of them seek to diversify their portfolios and the US even at its current state is still the most stable place to invest in compared to other places (Europe being in constant stagnation and Developing countries like the famous BRICS are showing signs of decline) and NYC is at the forefront. So this leads a lot of investor to seek safe spots where they can park their money, i.e. NYC real estate and a decline in the global economy actually increases the appetite for such investments, since real estate has always been seen as safer than let's say stocks and developers know that, that's why you see so many of them moving forward with those kind of project; and don't forget, inventory is still pretty low in NYC. So will we see a drop in demand for high end residentials at some point, sure, but as long as the economy remains shaky, which it might for some time, there will be a market for those developments.
As far as office towers, with so much office space in the city outdated, there's going to be growing need for new buildings, so there will be demand for new office space, maybe not as pronounced as high end residentials but the WTC and HY eventually won't be enough and as we can see with plans like 425 Park and 1 Vanderbilt, developers are planning ahead

This is Durst's lot. Durst has been buying up adjacent properties, and is trying to create a major assemblage.

The Solow assemblage is very close to 5th Ave. There's also an Extell-owned lot in the middle of the Solow assemblage, but Solow is reportedly trying to buy the site.

Not sure why you say this. Why would this "screw" the NYC housing market?

If anything, if you're claiming there's too much luxury product, then it would be good for other developers if this project were delayed or downsized.

But I don't think your premise is correct. NYC does not have that much up-to-date luxury product relative to demand. And Gary Barnett doesn't mess around.

This project will be very tall and iconic, and every building permit filed so far shows 1,550 to roof. If it ends up taller or shorter, I don't see why that would matter for the overall NYC market, which isn't dependent on one building or one developer.

I am not familiar with this firms designs so I was wondering what the general census is on styles likely to be used on this building? I am hoping for some modern take on the gothic style (a la tower verre), or maybe some glassed up version of art deco. So what do u guys think?

PS. as long as it's not some abstract random shape with rooms I won't die of a heart attack. :D

Well, don't I feel so foolish for having drawn the disdain of ny guy.

I'd like to know what is so ridiculous about my statement. How often does NY (or any city in this country for that matter) get proposals that are 1550ft or more? Even in the midst of a building boom of sorts out there, you still have yet to see many proposals that break the 1,200ft mark.

This isn't China or the Middle East. Proposals that are above 1500ft (at least one's that can be taken seriously) are a rarity in this country, and will continue to be in the foreseeable future.

And yes, I realize there are proposals in the preliminary stages that promise to go to great heights in New York. Fact is, most projects don't live up to their full hype.

If this project doesn't get there, then it will probably be a decade (at least) before any other developer attempts to build that high.

I probably chose my words badly. I meant that NY may be screwed from getting that plateau breaking skyscraper that i'm sure everyone is looking forward to. A skyscraper of this height would be pretty significant, as it would most likely end up being over 1600ft in the end. Serious proposals like this aren't going to come around very often.....

maybe not at the moment, just like people said that a few years ago about buildings 1000ft didn't come around often..you have to build your way up higher and higher a few of each not like china you cna have a 2 story building next to a 120 story..doesnt make sence.

I agree with u to some extent, but I believe there is a serious demand for residental as was said by crawford.

It won't. With all of the development proposals in the pipeline, things are really just getting stirred in the market for these types of towers. The ability to get financing will decide where the line is drawn. Even at the 1,550 ft height, this tower is tall, but not an extremely large building, with somewhere around 1.2 msf.


It's ridiculous for a variety of reasons, the first of which is your assertion that anyone would be "screwed" by a tower not reaching a certain height. I have to say it again, ridiculous. The last few years alone should have shown you something. When Extell's One57 was being planned to become New York's tallest residential (forget about Silverstein's 30 Park plan to take that title), did we have any idea or reason to believe that 432 Park would take it? No. With 432 Park's plan to become the new tallest, did we think anything would top it? No, and certainly not as soon. We don't know what the future holds, so it is ridiculous to say with any type of certainty that this could potentially be the only tower to top that height.

Now, for sure, we don't even know what the height of this tower is yet. There's still a lot on the table. But just keep in mind that although these towers are tall, they are hardly the tallest proposals to come around in Manhattan.


http://therealdeal.com/blog/2013/08/...-58th-st-home/

After Extell windfall, piano maker finds new West 58th St. home


http://s12.therealdeal.com/trd/up/20...58thStDeal.jpg


August 28, 2013
By Hiten Samtani

Wow, he came out $15MM ahead and ended up with a far nicer building.

I think every one of your posts is full of badly chosen words. Badly chosen words, sentences, paragraphs, thoughts and ideas. You need to work on that.

^ I think he's just stating an opinion, it just came off the wrong way with the wrong words. It's obvious that we don't know what the future holds, we couldn't have predicted the towers we see rising now. Especially when only a few years ago, virtually nothing was rising in this part of town. New York is a world capital. People will always have big ideas on what to build in the City, and they won't always come from New York. So, while we can't predict anything, we really shouldn't be shocked whenever a new tallest is proposed for the City.

As far as this proposal goes, we're talking about a height reduction that may not even be. Will there be some disappointment? Yes, there always is whenever there is a height reduction. However, disappointment won't be on the scale of the 200 ft height chop of the Tower Verre, because there we had an actual design to know and love. Here, it's really just a number.

They won't release any designs until its final. It won't be like the Hudson Yards, where various renderings are released showing changes in design as the process works its way out.



Meanwhile, Nordstrom has taken it's ownership in the building, as was mentioned earlier...


http://www.law360.com/articles/46804...extell-project

Nordstrom Puts Down $102M To Own Space In Extell Project


By Kaitlin Ugolik
August 27, 2013



As expected, the store will have openings on all 3 sides.


http://www.globest.com/news/12_679/n...nt-337003.html

Extell Issues Statement on Nordstrom


http://cdn.globest.com/media/newspic...arnett-new.jpg

Extell’s Gary Barnett plans to make 225 W. 57th St. one of the world's tallest buildings.


By Rayna Katz
August 27, 2013

Well, thinking doesn't seem to be one of your stronger attributes so I'll take your suggestion with the little regard it deserves.

UTEP, your initial comments were pretty silly, and you're not doing yourself any favors by insulting people who questioned your comments.

^why fight when u have urbanism?

Anyone? don't make me resort to the all so awful... "personal research":yuck:
;)

I disagree that my comments were silly, although I rightfully had to address what I meant by NY possibly getting "screwed" in my previous comment. I believe I made the opinion more clear in my later post. And I never insulted anyone until the same was given to me.

Anyways, let me be clear as to why I think this tower may be the best hope (at least for a long while) at getting a 1500ft+ tower. I think we can all agree that NY doesn't build "look at me" towers like China and the Middle East. They build for demand and for good business. I still think that 1550ft+ towers will be rare for developed countries in the near future. It is expensive, and there is rarely a need for such a tower.

Now, NY has a lot of proposals in the pipeline but these are based on an assortment of future unknowns (none of which I care to get into).

This project seems to have all the right things going for it. It has the available FAR, the financing, a developer who wants to go big, and it's coming at the peak of a super-lux real estate boom. Things don't usually line up so nice for huge towers like this. This is simply the right tower at the right time.

That is why I made the comment I made. I'm sure others believe that these types of towers will be more common in the near future, and they're probably based on good logic as well. I certainly wouldn't insult anyone for having such an opinion, just don't insult me for my own on the matter.....

And yet, somehow in your logic you don't think that it can be replicated in Manhattan of all places. But let's not get ahead of ourselves. This tower isn't in the ground yet, though financing appears to be on the way. No one is insulting your logic, just pointing out why it doesn't make sense. If it's the right time for a tower like this, it can certainly be the right time for others. That's not to say that there will be, just that we can't say for certain there won't. That's just the way it is, and I think we've wasted enough energy in this thread hashing and rehashing it. It's a discussion better suited to this thread...http://forum.skyscraperpage.com/showthread.php?t=194273


Now that all the final pieces are in place, the development of this tower can move forward as planned, so let's focus on that.



http://chainstoreage.com/article/sky...imit-nordstrom

The Sky’s the Limit for Nordstrom


August 28, 2013
By Katherine Boccaccio

You're incorrect on all this, though.

The site doesn't have particularly unusual FAR (many Manhattan sites offer far more FAR), the developer isn't particularly unique (of all the proposed supertalls, this is the only current one by this developer), and there's no way to tell the peak of a boom until the boom has passed.

The point is, there are many, many sites for supertalls, and Manhattan has the economics to make supertalls work. There's no reason to think that this is a particlarly unique situation.