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Wow! Looks great! Keep doing it!!! :tup:

Looks like about 13 floors above the cantilever... :cool:

Quote:

Originally Posted by gramsjdg (Post 7832318)

Looks like about 13 floors above the cantilever... :cool:

How many feet high now?

https://therealdeal.com/2017/06/23/e...al-park-tower/

$900M construction loan for Central Park Tower: sources
Financing from JPMorgan-led group allows NYC's priciest condo project to move ahead; one of the biggest loans of this cycle

By Mark Maurer
June 23, 2017

Quote:

Gary Barnett’s Extell Development is finalizing a $900 million construction loan for Central Park Tower, The Real Deal has learned. The financing would allow Barnett to proceed with the ultra-luxury condominium tower at 217 West 57th Street, which is the priciest residential project in New York City history with a $4 billion sellout. It would also be one of the largest condo construction loans of this cycle.

Extell signed a term sheet this week with a group of lenders led by JPMorgan Chase, sources familiar with the matter said. Closing on the loan would end an 18-month quest for financing for the 179-unit, 1,550-foot supertall project, which many real estate insiders bet would never get built.

Representatives for Extell and JPMorgan declined to comment. The loan is the final piece in an intricate capital stack, which includes $168 million in EB-5 funds, a $300 million equity investment from SMI USA, the U.S. subsidiary of Shanghai’s largest state-owned enterprise, and interim financing from lenders such as JPMorgan, Blackstone Group and Fortress Investment Group

^^^ Great news! Hopefully the tower will pick up speed once the loan is fully approved.

That $900 million loan completes the financing package, which means full speed ahead and we'll soon be looking up at a new 1,550 ft (or 1775 ft?) Midtown giant.

Great news! That's definitely worth celebrating! :cheers:

The only better news would be a loan stipulation by JP Morgan mandating a 275 foot spire to beat both WTC-1 and the CN Tower. :yes:

This is very exiting news.

Quote:

Originally Posted by gramsjdg (Post 7845680)

Great news! That's definitely worth celebrating! :cheers:

The only better news would be a loan stipulation by JP Morgan mandating a 275 foot spire to beat both WTC-1 and the CN Tower. :yes:

Hey it's still possible. ;)

While Barnett said he doesn't want to pass the WTC in total height maybe he's just trying to not cause a ruckus.

Quote:

Originally Posted by Zapatan (Post 7846172)

Hey it's still possible. ;)

While Barnett said he doesn't want to pass the WTC in total height maybe he's just trying to not cause a ruckus.

If there's a spire, and it's 1775 ft., I'll be more than happy. It doesn't "need" to "beat" the WTC (though that would be nice), but it does need some type of "top" IMO.

CN Tower is 1815 ft. (for some reason I thought it was a bit higher), but yeah, if they were going to "beat" WTC, might as well "beat" all structures in the Americas, just for kicks.

It will be interesting to see if construction pace increases or not...

Quote:

Originally Posted by Crawford (Post 7846388)

Excuse me for not looking back into this thread for an answer (casual on NYC projects), but why was the spire nixed?? It looked good..

^^^Probably because Barnett is a money-obsessed tasteless SOB

Quote:

Originally Posted by Hamilton (Post 7846656)

^^^Probably because Barnett is a money-obsessed tasteless SOB

Barnett said from the beginning there would be no spire. The spire was a later addition. As far as Extell is concerned, Barnett gets things built, and isn't afraid to build for height (though the height is what brings in the money).

http://observer.com/2012/11/gary-bar...-foot-tower/2/

Quote:

Gary Barnett’s Biggest Blockbuster Yet: 225 West 57th Street, New York’s First 1,550-Foot Tower

Previously, it had been speculated that 225 West 57th Street would top out around 1,250 feet, but Mr. Barnett has pushed beyond that to new heights.

“There won’t be a spire or anything like that, the floors will go all the way to the top, or almost to the top, with some mechanicals above,” Mr. Barnett said. “This is not a gimmick.”

Now, maybe they will add the spire, and maybe they won't.

A little more throwback into how this came to be.

Quote:

One thing that will not be new is the facade along Broadway, the former BF Goodrich building. Because of a deal struck with the city’s Landmarks Preservation Commission in 2009, the old auto building at 225 West 57th can come down, despite the protests of preservationists, but its sibling at 1780 Broadway must remain. A 1920s red brick building, its 12-story facade must be integrated into whatever Mr. Barnett builds. The building will have T-shaped configuration as a result, with section on Broaway, 57th and 58th streets.

What lucky architect gets to design such a multifaceted project? The Observer had heard that Herzog & de Meuron had beat out the likes of Jean Nouvel, Norman Foster and SHoP, but on that count, Mr. Barnett demured. “I’m not going to confirm or deny that, but I wouldn’t print that if I were you,” he said.

Still, Mr. Barnett is taking nothing for granted. When The Observer tried to congratulate him on a new project, and the city’s tallest at that, he responded, “Congratulations are only in order when you’ve finished the building and cashed the last check.”

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