Quote:
Originally Posted by Crawford
The site is gonna get razed, obviously. The buyers are partners with the adjacent building, so they apparently have a full-block development site for a new office tower.
Given the prominent location, this calls for a landmark, trophy design. The office rents will be top-of-market.
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How do you know that they're partners with the owners of 405? I remember seeing that the owners of 405 plan to add four floors and a new glass façade, which would totally suck [Don] Johnson.
Anyway, I hope that you're right. This site screams for a 1,000'+ tower with upscale boutique offices, condos, and a seven-star hotel. Condos by Stern in this location would sell in any market.