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NYguy Dec 27, 2022 2:17 PM

NEW YORK | 871 7th Ave (Wellington Hotel) | FT | FLOORS
 
https://nypost.com/2022/12/26/extell...s-to-build-up/

Extell nabs former Wellington Hotel with potential plans to build up


By Steve Cuozzo
December 26, 2022


Quote:

Towering change is in store at the northeast corner of Seventh Avenue and West 55th Street. Gary Barnett’s Extell is paying $94.4 million to buy the leasehold of the former Wellington Hotel from Richard Born’s BD Hotels, according to city Finance Department records.

The ambitious developer’s plans for the historic property one block south of Carnegie Hall were unknown. Barnett couldn’t immediately be reached.

But sources said that Extell’s move, when completed, will be just one of a complicated set of transactions with “many moving parts” that might include air rights for a much larger building than the 27-story Wellington, which has a mere 207,000 square feet on a 22,000 square-foot corner lot.
Quote:

It was understood that a new hotel will likely be part of any new tower and that Born will remain a partner in the project.

We first reported that the 1902-vintage Wellington was closing in December 2021 when a demolition clause forced restaurants Molyvos and Park Cafe to close. The hotel went dark but no plans have yet been filed with the Department of Buildings.

Extell’s completed Manhattan projects include One Manhattan Square on the Lower East Side, the International Gem Tower on West 47th Street and Central Park Tower on West 57th Street.

The New York Lion Dec 27, 2022 2:33 PM

Only in New York can realistic and economically viable and sustainable supertalls seemingly pop up out of nowhere.

The G Man is perpetually making NYC even better.

He typically doesn't go small. I would expect a MONSTER tower here to capitalize on Central Park views.

NYguy Dec 27, 2022 2:55 PM

It certainly didn’t pop out of nowhere. These things take years of planning, as Extell has even shown with it’s latest projects.

This site is across the street from the Park Central, which at one time had its own supertall tower in the works. That may still happen eventually. But what tgese sites have in common (due to zoning and air rights transfers), would be unobstructed views of Central Park (minus a supertall or two).



https://a4.pbase.com/o12/06/102706/1...40210ADA1.jpeg



https://a4.pbase.com/o12/06/102706/1...ED5211938.jpeg



https://a4.pbase.com/o12/06/102706/1...E3BBD16D4.jpeg

JMKeynes Dec 27, 2022 3:18 PM

I think that the Wellington is a beautiful building. If Extell builds anything less than a 1,000’+, stunning tower, I’ll be disappointed. I’d hate to see this replaced with The vanilla tower he plans for 46th and 5th.

JSsocal Dec 27, 2022 5:09 PM

Hate it, nothing but gotham on that block of 7th, and Extell will go to terra firma and build anew.

streetscaper Dec 27, 2022 5:14 PM

Another nice prewar block gone... hopefully the replacement is nice

Hudson11 Dec 27, 2022 5:51 PM

Extell excels at destroying blocks like these. Fortunately Gary has a history of putting up worthy replacements.

Crawford Dec 27, 2022 6:12 PM

I had heard rumors of this a few years ago. Extell has been working on this block for a few years, at least. These assemblages take time, and are often done in a confusing set of purchases, to keep the assemblage under wraps.

I bet we get another major Billionaire's Row residential tower. Hopefully a landmark supertall.

JMKeynes Dec 27, 2022 6:24 PM

Quote:

Originally Posted by Crawford (Post 9824989)
I had heard rumors of this a few years ago. Extell has been working on this block for a few years, at least. These assemblages take time, and are often done in a confusing set of purchases, to keep the assemblage under wraps.

I bet we get another major Billionaire's Row residential tower. Hopefully a landmark supertall.

Deleted

Hudson11 Dec 27, 2022 6:27 PM

I think the standard FAR transfer rules apply here, so only adjacent parcels, but right across the avenue we had renderings and a model floating around for a tall supertall envisioned for the Park Central hotel. They seem to have been purged from the internet.

aha, here we go.

https://i.ibb.co/M6LQQxH/park-central.png

https://global.discourse-cdn.com/bus...ede2edd02.jpeg

NYguy Dec 27, 2022 6:42 PM

Well it’s not a large site, and would hardly take up that block, even with assemblage. But seeing how it lines up, it’s the air rights that will line up to make this a tall tower to take advantage ofvthose Central Park views.



https://a4.pbase.com/o12/06/102706/1...SizeRender.jpg



https://a4.pbase.com/o12/06/102706/1...SizeRender.jpg



https://a4.pbase.com/o12/06/102706/1...SizeRender.jpg

NYguy Dec 27, 2022 6:50 PM

Quote:

Originally Posted by Hudson11 (Post 9825005)
I think the standard FAR transfer rules apply here, so only adjacent parcels


Don’t forget this is also in the theater transfer subdistrict. Extell recently transferred some theater air rights to their hotel/observation supertall currently under construction.



https://a4.pbase.com/o12/06/102706/1...b.IMG_7376.JPG


More on that…
https://www.nytimes.com/2013/12/14/n...ir-rights.html


Here’s the old thread for that Park Central proposal, which will likely be revived in some form in the future.
https://skyscraperpage.com/forum/sho...d.php?t=238485

JMKeynes Dec 27, 2022 6:53 PM

I was confusing this with the Park Central.

NYguy Dec 27, 2022 6:56 PM

Quote:

Originally Posted by JMKeynes (Post 9825026)
I was confusing this with the Park Central.

I think that this is not a good development. The Wellington is a very nice building. It’s also a small, mid block building that probably won’t yield a tower of more than 600’.

Well, you’re still missing the point. For one thing, it’s not midblock. And as we’ve already seen with these types of developments, it doesn’t require a large footprint.

Hudson11 Dec 27, 2022 7:02 PM

Quote:

Originally Posted by NYguy (Post 9825022)
Don’t forget this is also in the theater transfer subdistrict. Extell recently transferred some theater air rights to their hotel/observation supertall currently under construction.

Ah, I did forget that. Another come and gone vision for a redevelopment was at the Manhattan at Times Square Hotel. So perhaps there's a lot to look forward to down the line.

https://i.ibb.co/ft5QJpx/Mats2.jpg

https://i.ibb.co/xCf75YL/mats.png

NYguy Dec 27, 2022 7:31 PM

^ Yeah, there will always be new skyscrapers at various poibts of crossing from planning to reality. Most probably won’t make it, and we’ll likely never hear of many.

JMKeynes Dec 27, 2022 7:35 PM

Quote:

Originally Posted by NYguy (Post 9825028)
Well, you’re still missing the point. For one thing, it’s not midblock. And as we’ve already seen with these types of developments, it doesn’t require a large footprint.

I didn’t realize that the Wellington included the corner building too.

NYguy Dec 27, 2022 8:15 PM

Quote:

But sources said that Extell’s move, when completed, will be just one of a complicated set of transactions with “many moving parts” that might include air rights for a much larger building than the 27-story Wellington, which has a mere 207,000 square feet on a 22,000 square-foot corner lot.

Even as is, without any additional air rights, they could build a slender supertall. One thing is certain, Extell will build when and where it can.

JMKeynes Dec 28, 2022 4:16 PM

Speaking of hotels that should be redeveloped: The Shoreham on 55th between 5th and 6th sits on very prime land, but its utter is crap.

http://photos.wikimapia.org/p/00/07/93/27/99_big.jpg

NYguy Dec 29, 2022 2:57 AM

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