[NYguy]

Originally Posted by meh_cd

I'm a little concerned that with the recent swaths of supertalls being proposed on Park Avenue and the West Side/Hudson Yards, not to mention WTC 2 and 3, that they might end up demolishing the current buildings .

I don't know why you would be. There's only one supertall going up or proposed on Park Avenue (that's 432 Park). Park Avenue will remain Park Avenue if the City has it's way.

Details were scant, but the area the department is looking at was outlined, an 85-block swath running from 40th Street to 57th Street, between Fifth Avenue and Third Avenue, except for a section of Second Avenue in the East 40s. This brackets a section of the neighborhood the department is especially interested in, roughly 20 blocks surrounding Grand Central Terminal. The one other detail to emerge was an interest in improving Park Avenue, ensuring its place as the city’s premier business address.

The east side of Manhattan is not a huge swath of unused space like the west side of Manhattan. That's the difference between the east side and the Hudson Yards. On the west side, virtually everything going up will be surrounded by something else that just went up. It will be an entirely new business district. On the east side however, what you will have is a traditional business district peppered with new development. That is all it is, and the City is trying to encourage developers to build there.




http://news.stockmarketvideo.com/sl-...uilding/11505/
SL Green Realty Thinking of Mega Building

June 4, 2012
By Tim Rao

New York’s biggest office building possessor but a comparatively inexperienced maker of new buildings has made a new move in its striving intentions to create a trophy office tower accross the street from Grand Central Terminal.

SL Green has hired one of the nation’s most well-known office constructors, Hines of Houston, Texas, to work as a consultant on the 1.2 million-square-foot venture. The group is in the initial stages of making up intentions for the block-long site on Madison Avenue in 42nd and 43rd streets, as per stated by people closely related with the issue.

http://www.irealtytimes.com/articles...s-proposed.htm
Flurry Of New Manhattan Office Towers Proposed

By Staff Reporter
June 4, 2012

When Boston Properties new midtown Manhattan office tower is completed sometime next year, it will be the first new office tower on the market on the island in four years. And despite the euro zone recovery and slower-than-expected recovery of the national real estate market, quite a few developers are rushing to join Boston Properties, whose SOM-designed 250 West 55th Street tower will have approximately 1 million square feet of class-A office space.

The most recent contender to throw its hand into the ring is the city's largest office landlord, SL Green. According to the Wall Street Journal, the property firm has hired Houston-based developer Hines as a consultant on the project, which will be the firm's first foray into large-scale new development....The new construction depends on both financing and the upzoning of the area around Grand Central, which the Bloomberg administration has been pushing as its last major real estate initiative before his third, and final, mayoral term is up in 2013.

If the firm does go through with the plan, they'll encounter fierce competition from other developers. Just a week before the Journal's article, the New York Post's Steve Cuozzo outted Extell's Gary Barnett as wanting to name a new 57-story, 1.7 million sq. ft. office tower just north of Hudson Yards "1 Hudson Yards," sparking the ire of Related Companies' Stephen Ross, whose firm is planning a large complex of office towers above the rail yards west of Penn Station. Related has tapped Coach as an anchor tenant for the towers, but still needs to pre-lease more space before it can begin construction.

There aren't going to be whole major swaths of the east side demolished for development. Developers are only going to build what they can, and if they can it is only because of demand.