NYguy |
Dec 19, 2012 5:58 PM |
Quote:
Originally Posted by Hudson11
(Post 5943610)
The architect in charge probably already made a design, there was a design competition awhile back (one of the proposals by SHoP was made public) it's only a matter of time before we know what this one will look like. That amount of time might stretch out until after construction begins.
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That was before Nordstrom was on board. We pretty much have an idea of what the massing will be like from the construction permit, but as we've seen with 432 Park, that isn't neccesarily final.
http://therealdeal.com/blog/2012/12/...pment-for-70m/
Extell, liquidating assets ahead of new tower, sells Riverside Center development for $70M
http://therealdeal.com/wp-content/up...arnett-5-2.jpg
Gary Barnett, 1780 Broadway, the site of the new tower, and a rendering of Building 2
December 19, 2012
Christopher Cameron
Quote:
Extell head Gary Barnett and partner the Carlyle Group yesterday sold the Building 2 site at the Riverside Center development for $70 million, as Extell begins raising capital for its new 57th Street tower — currently poised to become the tallest residential building in the United States, the New York Post reported.
The buyers of the complicated $420 million development were Dermot and AFL-CIO Building Investment Trust. The project calls for 616 residential rentals, retail space and a school and has a $275 million state Housing Finance Agency bond mortgage with credit enhancements through Bank of America and Capital One. The 640,000-square-foot Building 2, which is located at the southwest corner of West 61st Street, it will be known as 21 West End Avenue.
“We think we paid a fair price and the overall costs make this an excellent opportunity for us,” Stephen Benjamin, Dermot COO, said. The site was marketed by Andrew Scandalios of HFF.
On Monday, Extell announced that it would be hiring Adrian Smith + Gordon Gill Architecture, the designers of the world’s tallest building, the 2,717-foot Burj Khalifa in Dubai, to design its new 1,550-foot 57th Street tower. In preparation for the massive project Extell appears to be liquidating select assets, according to the Post. For instance, Extell is closing this week on a $66 million deal for its 182-unit Westbourne apartment complex on West 137th Street. Bonjour Equities is the buyer and Georgia Malone of Georgia Malone represented Extell.
Extell also recently sold the leasehold on 175 Varick Strett for $32.75 million to WeWork and AEW Capital Management and Massey Knakal, on behalf of Extell, is marketing a garage, at West 24th to West 25th streets between Sixth and Seventh avenues, for about $85 million. In fact, Knakal has been marketing 59 of Extell’s buildings and is closing this month with 27 of those properties sold, according to the Post. “This is the best month in my career,” Robert Knakal said.
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http://www.nypost.com/p/news/busines...6Bht8rWU7fBVRJ
Setting the ‘Barnett’ high
By LOIS WEISS
December 19, 2012
Quote:
Gary Barnett is busy shedding unwanted assets and amassing capital as he concentrates on skyscrapers such as the 1,550-foot Nordstrom tower on West 57th Street that will be the tallest US residential building.
Yesterday, Extell founder Barnett and partner the Carlyle Group sold the Building 2 site at the Riverside Center development to the Dermot Cos. and AFL-CIO Building Investment Trust.
The $420 million development, which calls for residential rentals, retail space and a grade school, has a $275 million state Housing Finance Agency bond mortgage with credit enhancements through Bank of America and Capital One.
Documents show the site sold for $70 million, but the equivalent land cost would be closer to $100 million as the developers have the added costs of building a school.
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http://blog.archpaper.com/wordpress/archives/51934
Adrian Smith+Gordon Gill’s First Manhattan Skyscraper Among the City’s Tallest
http://blog.archpaper.com/wordpress/...02-550x407.jpg
December 18, 2012
Branden Klayko.
Quote:
Extell Development made waves as when they announced their 1,004-foot-tall skyscraper One57 by Christian de Portzamparc on Midtown Manhattan’s 57th Street (which made headlines most recently for crane troubles during Hurricane Sandy), but their next project a few blocks down the street looks to climb even higher. Developers announced in the Wall Street Journal on Sunday that Chicago-based Adrian Smith + Gordon Gill Architecture will design an 88-story, 1,550-foot-tall tower on West 57th Street just east of Broadway, an area quickly becoming known for skinny skyscraper proposals.
Adrian Smith, a former design principal at SOM’s Chicago office, and Gordon Gill, a former design associate at SOM, are two of the leading authorities on supertall buildings, while at SOM and at their own practice. While at SOM, Smith was the designer of the world’s current tallest skyscraper, the Burj Khalifa in Dubai. In more recent years, AS+GG has retrofitted Chicago’s Willis Tower (formerly the Sears Tower), designed the Quintai International Tower in China, the Dancing Dragons towers for Seoul, Korea’s Yongsan Business District and the Federation of Korean Industries Tower, and taken on what could be the world’s next tallest tower, the kilometer-high Kingdom Tower in Saudi Arabia.
AS+GG’s new tower for Extell, their first in Manhattan, will stand 300 feet above the Empire State Building and taller than the World Trade Center excluding its antenna. It will house the city’s first Nordstrom department store with a hotel and residences above. The architects were selected from a pool of top name architects including SHoP and Herzog & De Meuron, who both are already working on towers in New York City. Extell president Gary Barnett told the Journal that Seattle-based Nordstroms actually recommended AS+GG for the job. No groundbreaking has been set and financing must first be secured, but the tower could be complete as soon as 2018.
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