NEW YORK | 574 5th Ave (Extell) | 567 FT | 32 FLOORS
This could be huge. GB has acquired another parcel
http://therealdeal.com/blog/2015/08/...m-office-deal/ Extell was going to do a joint project with SLG on 5th between 46th and 47th, but SLG backed out, presumably to focus on other projects. http://nypost.com/2014/02/04/action-...n-46th-street/ |
Nice!
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That figure does not include Extell's five or six properties on W 46th that are part of this site or the Fifth Avenue properties that are part of this site.
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Extell does control quite a bit of the block, in red. Of course, a bunch of the properties are left over from the diamond tower.
http://i.imgur.com/N0y0HHz.jpg There's also a lot of address based llcs in yellow which he may or may not control. http://i.imgur.com/5Cfo3xa.jpg |
Extell also owns 3, 5, 7, 9, 11, and 13 W 46th St., which are contiguous to his 47th St parcels. All but one of the 46th St properties are empty.
The missing piece on the 5th Ave side is 564 5th. |
^I figured he owned a bunch of the llc owned buildings. How about 20W47th?
http://i.imgur.com/ovjcJHz.jpg |
Extell owns all of the junk shown in this photo. All if this garbage on 46th abuts Extell's two bigger parcels on 47th. Ipanema restaurant recently moved.
Although Extell owns the corner building on 5th, the bank has a triple-net lease through around 2,025 , but they will be bought out. https://farm9.staticflickr.com/8639/...762851c3_b.jpg The bank owns the Tudor POS, but Extell will acquire it. https://farm8.staticflickr.com/7498/...7a1eedf8_b.jpg This, like 520 5th, can easily approach or exceed 300m. Further, these projects will accelerate the revival of 5th in the 40s. |
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I too would much rather renovation here, than tear down, honestly!
All this fine-grained urbanism will not be replicated in whatever Extell builds |
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Great stuff! I can't wait to see what Extell plans.
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A 300m+ tower here and at 520 5th will really precipitate the redevelopment of Fifth Ave between 44th and 48th, which is the worst part of the Avenue.
Everything visible in this site, including the garbage on W 46th, will come down. https://farm1.staticflickr.com/648/2...b4ab6c69_b.jpg https://m.flickr.com/photos/36822401@N03/20532812010/ |
This depressing mess of junky buildings should have been included in the midtown rezoning, but I'm glad to see that it's on it's way out. Any guesses as to when teardown begins, or if the new tower will be office, residential, hotel or mixed use?
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I think that the new tower will be condos and have retail and maybe a hotel too. I believe that Gary is trying to acquire the building at the corner of 46th and the Tudor-style POS just north of it. |
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I'm happy to see those ugly buildings demolished. Hopefully we'll soon get details on the upcoming tower.
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Gary Barnett adds to Diamond District assemblage
Sitt's Thor Equities flipped contracts to Extell at 562, 564 Fifth: sources January 11, 2016 Rich Bockmann Quote:
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Extell Files Permits to Demolish Six Midtown Buildings for a New Mega Development
Extell Files Permits to Demolish Six Midtown Buildings for a New Mega Development
By Ondel Hylton January 14, 2016 http://www.6sqft.com/extell-files-permits-to-demolish-six-midtown-buildings-for-a-new-mega-development/ Quote:
http://www.6sqft.com/wp-content/uplo...fth-Avenue.jpg http://www.6sqft.com/wp-content/uplo...h-1024x628.jpg More info and images in the post here. |
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