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-   -   NEW YORK | Central Park Tower (Nordstrom)| 1,550 FT | 131 FLOORS (https://skyscraperpage.com/forum/showthread.php?t=191095)

nycaddict Jan 29, 2013 9:42 PM

thanks!

NYguy Jan 29, 2013 10:18 PM

Another permit today...

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=02

Quote:

PROVIDE SUPPORT OF EXCAVATION DETAILS FOR PROPOSED NEW BUILDING.

NYguy Feb 1, 2013 10:03 PM

http://therealdeal.com/issues_articl...-big-buildout/

Barnett’s big buildout
While Gary Barnett has been making waves for a while (and setting records recently), he’s now working on more Manhattan projects than any other developer



http://therealdeal.com/wp-content/up...tt-300x300.jpg


February 01, 2013
By Adam Pincus

Quote:

Ask most people in the industry today and they’ll tell you Gary Barnett is the most aggressive of the large real estate developers in Manhattan. His appetite for risk among his peers is second to none. But given how many projects he has in the works — his firm, Extell Development Company, is currently working on roughly a dozen, including building two of the tallest residential buildings in the Western Hemisphere — and with the level of media attention he gets, you might think he would be more frenetic and in-your-face.

...The standout is, of course, One57, the Christian de Portzamparc–designed, 1,050-foot-tall überluxury hotel and condo he’s building at 157 West 57th Street. That project has garnered most of the media attention he’s received lately, with its record pricing and a recent crane mishap. However, there are at least 11 projects with a total of nearly 6 million square feet that he’s currently working on in New York City, including his “other” 57th Street project : a 1,550-foot- tower at 225 West 57th Street, between Broadway and Seventh Avenue. Barnett filed plans with the city’s Department of Buildings in November 2012 that call for 233 residential units at the 1.2 million-square-foot structure. The building will also include the city’s first Nordstrom at its base.

In addition, he’s expected to close this quarter on a $150 million to $200 million purchase of a 1 million-square-foot residential site formerly occupied by a Pathmark grocery store on the Lower East Side. “I don’t know how he can manage so much at once. We could never do that,” said Thomas Elghanayan, CEO of TF Cornerstone, who has been an active developer of residential and commercial properties for decades. Driving all of that activity is, of course, Barnett, who’s known as a steel-nerved risk-chaser. “His risk tolerance is off the charts,” said one executive at a rival development firm, noting that Barnett began building One57 with no construction loan in place, which insiders say is almost unheard of.

....“I think that it is unlikely that we would ever get as big as, [for example], Tishman Speyer. I don’t aspire to get to that kind of size,” Barnett said, noting that he’s wary of “the headaches” that come with a much larger firm. “Right now, we are not really looking outside of New York. We live here, and it is a nice place to be focused,” he added. Barnett’s stance is, perhaps, not surprising. He’s never taken a standard approach to real estate. In fact, he prides himself on going after sites and deals that his rivals are either unwilling to pursue or simply not aware of. His two large 57th Street towers — One57 and 225 West 57th Street — both sit on properties assembled over the years, many by company executive vice president Dov Hertz, who joined the firm in 2003. For example, the first property acquired for One57, at 157 West 57th Street, was a 49-year lease inked on behalf of Extell by Feldman.

I always liked doing puzzles,” said Barnett. “It’s kind of fun to sort out the pieces and put it together.” Just buying a property and developing it, “what’s exciting [about that?]” he asked. In addition, Barnett said that if his firm had not assembled the 20 parcels that make up the One57 site, he doesn’t think anyone else would have. “If we had not gotten it done, no one else would have,” he said. “It never would have gotten done.” He said the assemblage strategy provides a leg up because it widens the options of potential development sites to choose from.

....In addition, Extell is one of the city’s most active sellers, unloading $550 million in potential development sites and projects over the past 12 months, an analysis of data on Real Capital Analytics showed. The firm’s currently under-construction or in-active-development projects total at least 6.2 million square feet, which does not include its 1.7 million-square-foot One Hudson Yards, which is waiting to score a tenant before moving forward. By comparison, it’s closest rival in terms of square feet and number of deals is Related, which currently has eight active developments in Manhattan totaling 4.6 million square feet.

There’s also an approximately 725,000-square-foot development site at 547 10th Avenue, where in 2011 Barnett signed a 99-year ground lease with the estate of Sol Goldman, and last summer he bought air rights from the neighboring Roman Catholic Church. And the firm is assembling a smaller site at 1687–1693 Third Avenue between 94th and 95th streets. The roster doesn’t end there. There’s another megadeal coming down the pike on the Lower East Side. Extell — a long-rumored buyer — is in contract to acquire a 1.1 million-square-foot development site at 227 Cherry Street for approximately $150 million to $200 million, insiders confirmed. The seller was advised by Eastern Consolidated. Extell had been in contract to buy the site for $87 million in 2007, but backed out when the market collapsed and, according to court records, sacrificed its $6 million down payment. At One Hudson Yards, a site at 560 West 34th Street on 11th Avenue with 1.7 million square feet, Extell has hired commercial firm Jones Lang LaSalle to secure an office tenant before construction begins.

More recently, he scored a victory against Related, which is headed by Jeff Blau and Stephen Ross, when he landed the Nordstrom deal. (Related, which declined to comment on Extell for this story, and others had spent years wooing the department store as an anchor tenant for the retail mall at its massive Hudson Yards project.)

....But Barnett denies that besting other developers in the pursuit of deals is personal. “It’s not really about competition. I imagine some people have that feeling, that it is one-upmanship. But I totally don’t think like that, and people who know me, I think, realize that,” he said. For example, at 220 Central Park South he’s engaged in an ongoing dispute with Steven Roth’s Vornado Realty Trust, which owns the building and wants to demolish it and construct a new tower. When pressed later on what would happen with the standoff, he scrunched up his face and mischievously said: “Who knows? I cannot predict the future. … I have no clue. I truly do not know what will happen.” Then after further reflection, he said, “No one would say real estate in New York is not a competitive field.”

VIEW LARGE

http://therealdeal.com/wp-content/up...hart-samll.jpg



http://therealdeal.com/wp-content/up...se-FINAL-2.jpg



http://therealdeal.com/wp-content/up...arge-chart.jpg

bayrider Feb 2, 2013 11:34 AM

I have a friend who's worked at Nordstrom's out in Los Angeles for 20 years and she's familiar with this project. She said she heard that the ground under this particular lot was "really hard" and that they found out that digging is going to be a bit of an obstacle on this particular plot. I told her that just means they can build an even taller tower on the site :cheers:

NYguy Feb 2, 2013 1:37 PM

Quote:

Originally Posted by bayrider (Post 5997905)
I have a friend who's worked at Nordstrom's out in Los Angeles for 20 years and she's familiar with this project. She said she heard that the ground under this particular lot was "really hard" and that they found out that digging is going to be a bit of an obstacle on this particular plot. I told her that just means they can build an even taller tower on the site :cheers:

Sounds like there will be blasting, like they did for 432 Park. I don't know if One57 did any blasting because we didn't see it, but they probably did, being so close.

NYCrules Feb 4, 2013 3:28 AM

Quote:

Originally Posted by bayrider (Post 5997905)
I have a friend who's worked at Nordstrom's out in Los Angeles for 20 years and she's familiar with this project. She said she heard that the ground under this particular lot was "really hard" and that they found out that digging is going to be a bit of an obstacle on this particular plot. I told her that just means they can build an even taller tower on the site :cheers:

Wow! An even taller tower!!!
Does that mean it'll go beyond 1550 ft??
Can't wait to hearing good news:)

Mr. Lion Feb 4, 2013 4:28 AM

Quote:

Originally Posted by NYCrules (Post 5999750)
Wow! An even taller tower!!!
Does that mean it'll go beyond 1550 ft??
Can't wait to hearing good news:)

I don't think his statement was literal. So many more factors go into making a structure taller, not just the ground being "really hard"

gramsjdg Feb 4, 2013 5:32 AM

Quote:

Originally Posted by NYCrules (Post 5999750)
Wow! An even taller tower!!!
Does that mean it'll go beyond 1550 ft??
Can't wait to hearing good news:)

Well, remember that 1550 ft is only the highest occupied floor on this tower, and there are mechanical floors above it. It will most certainly be taller than 1550 ft. In light of that fact, I motion that the thread be changed to 1550+ ft to reflect that fact...

Roadcruiser1 Feb 4, 2013 1:17 PM

This building can easily reach the 2,000 foot mark if they decide to add a spire into the design.

hunser Feb 4, 2013 1:37 PM

Quote:

Originally Posted by Roadcruiser1 (Post 6000012)
This building can easily reach the 2,000 foot mark if they decide to add a spire into the design.

Gary explicitly said there won't be any 'gimmick' to reach that height, so no spire or crown here. The only hope we got are those 3 mechanical floors above the last occupied floor (85th) which could bring this tower over 1640ft / 500m.

Eidolon Feb 4, 2013 1:42 PM

Quote:

Originally Posted by hunser (Post 6000017)
Gary explicitly said there won't be any 'gimmick' to reach that height, so no spire or crown here.

There will be no spire or crown to take this building to 1,550ft because that wil be the highest occupied space, but after that it's uknown if there will be some type of spire/crown to push this even higher.

NYguy Feb 4, 2013 1:42 PM

Quote:

Originally Posted by gramsjdg (Post 5999861)
It will most certainly be taller than 1550 ft. In light of that fact, I motion that the thread be changed to 1550+ ft to reflect that fact...

It will probably be higher than that, but there is the off chance that it could be lower. It's best to just stick with what we know. It can always be altered down the line when we get information.



Quote:

Originally Posted by hunser (Post 6000017)
Gary explicitly said there won't be any 'gimmick' to reach that height, so no spire or crown here.

At that point and time, he said there wouldn't be, particularly to that height. They've since selected an architect, and visions do change. We'll see what we get.

NYCrules Feb 4, 2013 1:48 PM

Quote:

Originally Posted by hunser (Post 6000017)
Gary explicitly said there won't be any 'gimmick' to reach that height, so no spire or crown here. The only hope we got are those 3 mechanical floors above the last occupied floor (85th) which could bring this tower over 1640ft / 500m.

So only three mechanical floors are gonna make up (500+ minus 472) metre height??
So the tip and tail of the building are gonna be tremendous...

NYguy Feb 8, 2013 4:51 PM

http://therealdeal.com/issues_articl...meets-the-eye/

More building than meets the eye
TRD analysis finds dramatic spike in number of planned construction projects



February 01, 2013
By Adam Pincus


Quote:

While TRD’s profile of Extell found that the development company is currently constructing more than any other developer in terms of number of projects and square footage, our ranking of DOB applications looked only at new building applications filed in 2012. In that category, Extell ranked second behind Related with its application for a 1.2 million-square-foot tower at 225 West 57th Street that will have retailer Nordstrom at its base and cost approximately $2 billion. Initial plans call for 233 residential units, but the firm said the number of apartments has not been finalized.

Gary Barnett, president of Extell, said the building will not impact sales of his One57 condo tower just a block away — because he expects One57 to sell out by the end of this year.

“We see it as sequential, having one build on the success of the other. We won’t sell the new product for at least one or two years,” Barnett said.


The vast majority of the new construction applications filed with the DOB in 2012 were, not surprisingly, for residential buildings. While rentals make up many of the large projects, developers filed condominium plans as well, including Extell’s 225 West 57th Street.

NYguy Feb 10, 2013 9:12 PM

Great place for a great building....

SecialKRB

http://farm9.staticflickr.com/8251/8...6b0b41b1_b.jpg



http://farm9.staticflickr.com/8100/8...47f099fb_b.jpg

Busy Bee Feb 10, 2013 9:42 PM

I'm gonna pass out when this building is finally revealed!

kiwi4life Feb 10, 2013 11:42 PM

This guys nuts lol way to take risks

hunser Feb 11, 2013 9:31 AM

Quote:

Originally Posted by NYguy (Post 6009531)
Great place for a great building....

It really doesn't get denser than this. Building a 500m tall building in such an urban environment will be quite a feat. Can't wait!

aquablue Feb 11, 2013 8:05 PM

Adrian Smith likes to use curved features on many of his towers around the world. Do you think he'll be able to that here or will it be another boxy tower with hard edges?

THE BIG APPLE Feb 11, 2013 8:08 PM

^ Extell already gave us a curved building a few feet away. If they want a complementing building then it IS possible.


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