[NYguy]

http://nypost.com/2015/02/10/monumen...eventh-avenue/

Monumental developments on the horizon for Eleventh Avenue


By Lois Weiss
February 10, 2015

Ziel Feldman has now revealed two designs he is toying with for the upcoming 76 11th Ave. between 17th and 18th streets.

Speaking to the Young Men’s/Women’s Real Estate Association Tuesday in Midtown, he said the address could change also.

It is, of course, contingent on branding and culturally superstitious buyers. The Chinese “love eights,” Feldman noted, while 18 is “Chai” and luck for Jewish folks. (Or he could go the patriotic route with 17/76, but that’s just me.)

Feldman, head of HFZ Capital, is in contract to close in April on his purchase of the full block — a former parking lot — from Edison Properties. The possibly record land price, which Feldman declined to discuss, has been previously reported to be $600 million to $700 million and comes with the right to develop more than 760,000 square feet of residential, retail and hotel space.

The fiscally cautious Feldman, who said “Brooklyn scares us” with land pricing at $400 a foot and lower sales prices, was willing however, to take an even higher-stakes gamble with a dramatic project and higher costs — but that would garner higher sales prices.

That’s because it’s all about location — sandwiched between the High Line and Hudson River, both of which border the site to the east and west respectively (along with Chelsea Piers), while to the north is the iceberg-like low-rise IAC building.

A drone-created video shows long-range views as the prospective project rises to 38 stories and 400 feet — it would be a lost trifle in Midtown.

Feldman has very rough preliminary proposals in-hand for a two-building development from both Rem Koolhaas and Bjarke Ingels (founder of firm BIG), whose pyramid design for Durst at 12th Avenue and West 57th Street is currently getting some windows.

No one has been hired, and nothing is inked or set in brick for the full block site. Both architects have suggested somewhat triangular structures that won’t block views.

BIG’s is a low building for a hotel and retail and a higher one with more bulk at the top for the tower closest to the water. The project will include a small park while a porte cochere could run between the buildings.

“We have two buildings and need to make sure they don’t face each other,” Feldman added, drawing laughs when he referenced the nearby Standard Hotel as being “built for voyeurism and for having sex in the windows” — and not what he wanted for his project.

He will also be targeting smaller units as he says condominium buyers are worried more about the total costs than the square footage.

As for Mayor de Blasio’s affordable housing push, Feldman said that density and height are “music to my ears,” but “if I have to have more affordable, it has to pencil out.”