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-   -   NEW YORK | 45 Broad St | FT | 52 FLOORS | ON HOLD (https://skyscraperpage.com/forum/showthread.php?t=209254)

Hypothalamus Jan 21, 2014 2:22 PM
New York YIMBY:

For Sale: 45 Broad Street
BY: NIKOLAI FEDAK ON JANUARY 21ST 2014 AT 6:00 AM

Quote:
Plans for The Nobu Hotel at 45 Broad Street are dead, and the site is up for market by Cushman & Wakefield, per Real Estate Weekly. The plot offers over 260,000 square feet of development rights, and if the occupant is super-luxury residential, the final product could be quite tall.
...
http://www.yimbynews.com/wp-content/...1/45broad2.jpg

http://www.yimbynews.com/wp-content/...1/45broad4.jpg

NYguy Jan 22, 2014 5:28 PM
http://www.rew-online.com/2014/01/22...lad-note-sale/

Tallest tower site expected to fetch $200M+


January 22, 2014

Quote:
Cushman & Wakefield is marketing 45 Broad Street, a development site in the Financial District that offers 264,200 s/f of FAR for residential and/or commercial use.

The site could hold a super-luxury residential or mixed-use property. An investor has the opportunity to construct a new tower within the C5-5 Special Lower Manhattan zoning district, which has no specified height restriction.

Based on initial architectural studies, the site can support a 45- to 50-story tower.


http://m3.i.pbase.com/o9/06/102706/1...P3Dcuv.r1b.JPG

Perklol Mar 4, 2014 12:45 PM
http://nypost.com/2014/03/03/tower-p...-broad-street/

hunser Mar 4, 2014 1:07 PM
Quote:
Originally Posted by Eveningsong (Post 6478157)
That's very good news. If the developer decides to grab the adjacent site too, we are looking for a supertall here, minimum. Also there's no height limit and the location couldn't be more prime for Lower Manhattan.

Hypothalamus Mar 4, 2014 1:41 PM
Quote:
Originally Posted by Eveningsong (Post 6478157)
New York Post:

Developer wants to bring modernity to Broad Street tower
By Lois WeissMarch 3, 2014 | 5:23pm

Quote:
Developer Bill Rudin is plotting the redevelopment of 55 Broad St. into a new, modern mixed-use tower, The Post has learned.

Prompted by the diversification of downtown and a residential population beginning to pay top dollar for apartments, sources say the third-generation developer has already hired FXFOWLE to research the feasibility of redeveloping the current 35-story, 402-feet-tall office structure into a 53-story, 742 feet-tall mixed-use building.

Such a building could include retail, technology-focused office space and ritzy apartments in an energy-efficient tower designed for the prominent site on the northeast corner of Broad and Beaver streets.

Coincidently, Cushman & Wakefield is marketing 45 Broad, the adjacent stalled site to its north, where Robert De Niro once planned a hotel. That site can host a tall but slender tower with views to the Statue of Liberty because there are no height restrictions in the area.

But it is entirely possible that Rudin is planning a tower play and will be bidding with an eye on winning that site and incorporating its 264,200 square feet into Rudin Management’s 55 Broad, so he can add a new majestic skyscraper to the downtown skyline.

The current building, also known as the NY Information Technology Center, was originally developed by Sam, Jack and Bill’s father, Lew Rudin, in the early 1960s as the headquarters for Goldman Sachs before being occupied by Drexel Burnham.

After Drexel went bust, the building sat vacant from 1990 to 1995, during a time when downtown had a vacancy rate pushing 25 percent.

Crawford Mar 4, 2014 3:17 PM
I think this should be two separate threads here.

55 Broad is a separate proposal; 45 Broad has different ownership and is planned as residential.

NYguy Mar 4, 2014 5:58 PM
Quote:
Originally Posted by Crawford (Post 6478270)
I think this should be two separate threads here.

55 Broad is a separate proposal; 45 Broad has different ownership and is planned as residential.
Yes, it's a different project.

Perklol Mar 5, 2014 7:35 PM
Quote:
Originally Posted by hunser (Post 6478169)
That's very good news. If the developer decides to grab the adjacent site too, we are looking for a supertall here, minimum. Also there's no height limit and the location couldn't be more prime for Lower Manhattan.
Yeah this is exciting for Lower Manhattan. Hopefully another supertall.

I was also wondering if the developer will pay over $200 million. That's quite a lot of money for a rental/office building...

sparkling Nov 10, 2014 8:27 PM
45 Broad to return to market
 
http://s11.therealdeal.com/trd/up/20...ad-Dilullo.jpg
From left: Andrew Scandalios, 45 Broad Street (Credit: PropertyShark), rendering of 45 Broad and LCOR’s Peter DiLullo

By Adam Pincus

Quote:
A Lower Manhattan development parcel once owned by Kent Swig will return to the market next year and could sell for as much as $110 million, insiders said. The potential price for the vacant parcel at 45 Broad Street between Beaver Street and Exchange Place, which has 264,200 square feet of development rights, shows the enormous rise in values in the current environment compared with the prior boom. Swig’s Swig Equities purchased the office building at 45 Broad Street in June 2006 for about $29 million, with plans to build the Nobu Hotel and Residences. But the firm lost the property to lender Lehman Brothers Holdings in the wake of the financial crisis. Lehman, in turn, sold the site in 2012 to LCOR for $14 million, city records show, as part of an $800 million package. A Cushman & Wakefield investment sales team began marketing the site in January. The San Francisco-based investment and development firm Carmel Partners was close to buying it for more than $110 million, a person familiar with the process said, but instead purchased 112-118 Fulton Street from the Lightstone Group, which it was considering at the same time. A spokesperson for Carmel did not immediately respond to a request for comment. Subsequently, the property was taken off the market. The New York branch of commercial brokerage firm HFF, headed by Andrew Scandalios, now has the listing from the owners LCOR and the California pension fund CalSTRS. Insiders said HFF was not expected to launch marketing until the new year. An HFF spokesperson declined to comment. Sources pointed to active players in the Downtown market as potential bidders, including Rudin Mangement, which owns 55 Broad Street, a large site adjacent to 45 Broad. The two sites could potentially be combined to build a 650,000-square-foot tower. Other possible buyers include David Lichtenstein’s Lightstone Group, Michael Shvo, Michael Stern’s JDS Development Group, Fortis Property Group, Howard Hughes and Albanese, according to people familiar with the Downtown market. - See more at: http://therealdeal.com/blog/2014/11/....N2kL7Rmz.dpuf

mistermetAJ Nov 11, 2014 4:51 PM
Quote:
Originally Posted by sparkling (Post 6802501)
http://s11.therealdeal.com/trd/up/20...ad-Dilullo.jpg
From left: Andrew Scandalios, 45 Broad Street (Credit: PropertyShark), rendering of 45 Broad and LCOR’s Peter DiLullo

By Adam Pincus
Good, that rendering was terrible. Maybe something good can rise from this site now.

chris08876 May 17, 2015 1:34 PM
Current Site:

http://4.bp.blogspot.com/-57OWciztMJ...0/SAM_2430.JPG
Credit: Towerpower123

Vertical_Gotham Aug 3, 2015 9:12 PM
It would be fantastic if Gladstone partners up with Rudin's 55 Broad St.

http://s14.therealdeal.com/trd/up/2015/08/Gladstone.jpg

Gladstone’s Madison Equities in contract for 45 Broad Street Downtown property has nearly 265,000 sf of development rights
http://therealdeal.com/blog/2015/08/....HxpLLLHf.dpuf

Quote:
UPDATED, 4:55 p.m., August 3: Robert Gladstone’s Madison Equities is in contract to purchase a Lower Manhattan development site at 45 Broad Street, which could give rise to a project of nearly 265,000 square feet, The Real Deal has learned.

When it hit the market in November, the site, located between Beaver Street and Exchange Place, was expected to fetch north of $100 million. It’s unclear what Madison is paying, however, and sources said that Madison is partnering with AMS Group, led by Avi Abadie, on the deal.

HFF’s Andrew Scandalios, who is marketing the site on behalf of owners LCOR and the California pension fund CalSTRS, declined to comment.

Kent Swig’s Swig Equities purchased the office building at 45 Broad Street in June 2006 for about $29 million, with plans to build the Nobu Hotel and Residences. But the firm lost the property to lender Lehman Brothers Holdings in the wake of the financial crisis. Lehman, in turn, sold the site in 2012 to LCOR for $14 million.

Rudin Management owns 55 Broad Street, which is adjacent to 45 Broad. Combined, the sites could give rise to a development of 650,000 square feet.
Madison is also the developer of 212 Fifth Avenue, in partnership with Building & Land Technology (BLT) and Joseph Sitt’s Thor Equities.

chris08876 Oct 25, 2015 5:07 AM
Madison Equities, partners plan 65-story condo at 45 Broad :cheers:
October 23, 2015

Quote:
Robert Gladstone’s Madison Equities, in partnership with the Italy-based Pizzarotti Group, is planning a 65-story condo tower on a vacant site at 45 Broad Street in the Financial District. On Friday, the buyers closed on the purchase of the land for $86 million and secured a $75 million acquisition loan, sources familiar with the transaction told The Real Deal.

The site, located between Beaver Street and Exchange Place, could hold a residential tower spanning 290,000 square feet. Mack Real Estate Credit Strategies and others provided the loan, which was brokered by a JLL team led by Dustin Stolly and Jonathan Schwartz. Midtown-based AMS Acquisitions is a minority investor in the project, while Pizzarotti is Madison’s development partner.

Cetra/Ruddy is serving as the architect, and the building is slated for completion by 2019, a spokesperson for Madison said. It’s not yet clear what the project’s exact size and number of units will be. HFF’s Andrew Scandalos began marketing the site in November on behalf of then-owners, LCOR and the California pension fund CalSTRS. TRD reported that the site was in contract in August. AMS declined to comment, while Pizzarotti could not be reached. The parcel at 45 Broad was once slated for a hotel-condo project. Kent Swig’s Swig Equities bought the office building on the site in 2006 for $29 million, with plans to construct the Nobu Hotel and Residences. Following the downturn, lender Lehman Brothers Holdings took over the site and sold it to LCOR for $14 million in 2012. Madison, in partnership with Building & Land Technology (BLT) and Joseph Sitt’s Thor Equities, is behind the condo conversion at 212 Fifth Avenue in NoMad.
=========================
http://therealdeal.com/blog/2015/10/....t1n2SAsD.dpuf

Crawford Oct 25, 2015 6:17 PM
What is a typical 65 floor luxury residential condo tower these days in Manhattan? Around 800-900 ft.? Is that a fair estimate?

A supertall would be better, but I'll take it. It will still have some presence in the skyline, I think.

chris08876 Oct 25, 2015 7:11 PM
If they combine the adjacent site, it could theoretically be a super tall. But yeah 300k sq ft on that parcel, given that it would be condos, could very well be 800-900 feet depending on how they design it. This project could prove interesting to monitor. The market has been pretty steady with condos. Lots of current sites in the city are going from rental to condo, so more towers on the way.

NYguy Oct 27, 2015 1:25 AM
https://www.dnainfo.com/new-york/201...5-broad-street

65-Story Condo Tower Rising on Empty FiDi Lot at 45 Broad Street

By Irene Plagianos
October 26, 2015


Quote:
“We look forward to creating an extraordinary building with our partners in a new, thriving Downtown market," said Robert Gladstone, a principal with Madison Equities in a statement. "The building will provide outstanding panoramic views of the Hudson River, New York Harbor and the revitalized World Trade Center area.”

NYguy Oct 28, 2015 12:53 AM
http://www.6sqft.com/65-story-condo-...ntown-skyline/


http://www.6sqft.com/wp-content/uplo...ra-Ruddy-3.jpg



http://www.6sqft.com/wp-content/uplo...etra-Ruddy.jpg



http://www.6sqft.com/wp-content/uplo...10/dus5c-1.jpg

Colorized photo of Broad Street in the early 1900′s. The 45 Broad Street project site is just cut out of the photo to the right.

PeterQM Jan 5, 2016 5:01 PM
REVEALED: 45 Broad Street, Slated to Be Among the Highest Condo Buildings Downtown
 
REVEALED: 45 Broad Street, Slated to Be Among the Highest Condo Buildings Downtown
By Ondel Hylton
January 5, 2016
http://www.6sqft.com/revealed-45-broad-street-slated-to-be-among-the-highest-condo-buildings-downtown/

Quote:
Last October, it was announced that the long-vacant lot in the heart of the Financial District at 45 Broad Street would be redeveloped into a 65-story residential skyscraper by way of a partnership between Pizzarotti IBC and Madison Equities. Now, via Pizzarotti’s project page, we have our first look at the design of the 300,000-square-foot CetraRuddy-designed tower that the development group affirms “will be the highest condo in Downtown Manhattan.” The team will have to move quickly, though; at least two condo towers are proposed to be taller including Shvo’s supertall at 125 Greenwich Street.
http://www.6sqft.com/wp-content/uplo...renderings.jpg

http://www.6sqft.com/wp-content/uplo...l-1024x536.jpg

More info and images in the post here.

Crawford Jan 5, 2016 5:16 PM
So 45 Broad will be around 950 ft., I take it?

Tough to tell from these basic renderings, but looks like a potentially interesting design.

McSky Jan 6, 2016 5:41 AM
40 Wall St is 927 feet to the spire tip, so this render looks like the building is a bit less than 900 feet tall.


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