[NYguy]

http://therealdeal.com/blog/2013/10/...al-park-south/

Vornado, Extell bury hatchet at 220 Central Park South





October 03, 2013
Julie Strickland

Vornado Realty Trust and Extell Development appear to have buried the hatchet in their feud over side-by-side development lots between West 57th Street and Central Park South, and Seventh Avenue and Broadway.

Vornado’s 220 Central Park South should therefore sprout soon, just behind Extell’s tower at 225 West 57th Street, a source in the know told Michael Gross, who reported the news on his blog.

“They made a deal,” the source told Gross, who then dispatched fellow bloggers to investigate the underground parking garage leased by Extell beneath Vornado’s property, reportedly the reason for the 220 Central Park South delay. They found the lot locked and empty, and a watchman behind the date confirmed to Gross that the spot has closed for good and will soon be no more.

Vornado, with plans to demolish and replace 220 Central Park South with a 41-story, $400 million condominium tower, agreed to pay $40 million to buy out 26 rent-regulated tenants in the building in December 2010. But Extell’s Gary Barnett, with six years left on a garage lease beneath the building, doubled down. Vornado retaliated with a $200 fine to Extell for the garage not being used primarily for residents, as was required.

Vornado is hiring Robert Stern of 15 Central Park West fame to design the new condo — a source told the blog the choice is “99 percent sure.”

http://mgross.com/gripebox/vornado-a...pad-exclusive/

Vornado and Extell: A done deal…and now, a race to the sky?

by Michael Gross
October 3rd, 2013

The mega-tiff between mega-builders Vornado and Extell over two almost-kissing development lots between West 57th Street and Central Park South, and Seventh Avenue and Broadway, has ended, and Vornado’s 220 Central Park South should start climbing soon, only a tad behind Extell’s Nordstrom tower.

So says a source in a position to know, who reports, “They made a deal.” Not one to trust, this blog just paid a visit to the underground parking garage leased by Extell beneath Vornado’s property–reportedly the cause of the delay at 220CPS–and found it locked and empty, and the watchman on duty behind its gate confirmed that it has closed and will soon be a goner.

Vornado has not yet responded to a request for comment. My source also confirmed–well, nearly–Gripepad’s report from May 2012 that Vornado is hiring Fifteen Central Park West architect Robert A.M. Stern to design its new condo–”It’s 99% sure”–and added one more tid-bit for now. “They’re going pretty high,” the source says. Which means war, at least for the Central Park views developers covet along the new Billionaire’s Belt. Until today, Extell (whose plans were first revealed here this week) had the view corridor to itself. Now? Advantage Vornado.