NEW YORK | 1 East 57th St (Louis Vuitton) | FT | FLOORS

[Busy Bee]

I have to just reiterate I don't believe they are going to propose demolition of 745 Fifth. We're not talking about a Union Carbide here where people could be fairly easily convinced of it's mid-century mediocrity to look the other way. The Squibb Building is arguably not an iconic Art Deco masterpiece but it is designed by a famous pedigreed architect easily in the club of classic NY pre-war skyscrapers that people will come out of the woodwork to defend saving. It's literally one of the costumes in the famous skyscraper ball photo that is as recognizable as they come to many. Furthermore beyond it's architectural and historic merits, there is no need to waste such a building and I predict proposing so with the very ethos of our era the mainstreaming of conservation and re-use would be extremely unpopular. A split restoration and new tower behind is a much better concept.

[NYguy]

This is among the hottest, if not THE hottest areas in Manhattan as far as owning a pice of property for branding. No doubt that whatever comes will be top of the line.

[streetscaper]

Originally Posted by Busy Bee

I have to just reiterate I don't believe they are going to propose demolition of 745 Fifth. We're not talking about a Union Carbide here where people could be fairly easily convinced of it's mid-century mediocrity to look the other way. The Squibb Building is arguably not an iconic Art Deco masterpiece but it is designed by a famous pedigreed architect easily in the club of classic NY pre-war skyscrapers that people will come out of the woodwork to defend saving. It's literally one of the costumes in the famous skyscraper ball photo that is as recognizable as they come to many. Furthermore beyond it's architectural and historic merits, there is no need to waste such a building and I predict proposing so with the very ethos of our era the mainstreaming of conservation and re-use would be extremely unpopular. A split restoration and new tower behind is a much better concept.

I hope you're right!

[NYguy]

https://www.pincusco.com/lvmh-files-...-of-new-tower/

LVMH files to demolish flagship Fifth Avenue store ahead of new tower







June 10, 2024

[Crawford]

Here we go. Hope we get a rendering soon.

This is arguably the best retail corner on the planet. I'm guessing a landmark tower designed by a starchitect, but we'll see.

[NYguy]

[ChiND]

I hope that this is tall and spectacular!

I wonder if the design will cantilever over 3 E 57th St.


Yimby

[ChiND]

https://nypost.com/2024/06/12/real-e...d-and-rebuilt/

Louis Vuitton’s Manhattan flagship to be demolished and rebuilt

By Hannah Frishberg
Published June 12, 2024, 11:43 a.m.

[NYguy]

Not sure what they’re planning here yet, but if it doesn’t include condos, they’re throwing money away.



https://www.mansionglobal.com/articl...-135m-4d2d2b1a

Aman New York Penthouse Sells for $135 Million—the City’s Biggest Deal This Year
The five-story unit is one of 22 residences above the hotel in the historic Crown Building





BY CHAVA GOURARIE
JULY 9, 2024

A five-story penthouse unit at the Aman New York has closed for $135 million, making it the most expensive sale in New York this year, edging out the $115 million duplex at Central Park Tower, which closed last month.

The 12,500-square-foot unit is one of 22 rarified residences above the Aman New York hotel in the historic Crown Building in Manhattan, located along Billionaire’s Row at Fifth Avenue and West 57th Street. Five units in the building have sold for above $50 million, and one sold for $75.8 million in 2022.

In 2018, when sales launched at the Beaux-Arts landmark, the unit, then called the Crown Penthouse, went into contract for $180 million, which at the time, would have been New York’s most expensive sale ever. But the deal never closed.

The pricing on the previous offer was “for a fully built-out unit,” which accounts for the difference in price, an OKO spokesperson said.

“The $135 million sale of the Penthouse at Aman New York underscores the desirability and appeal of Aman and the iconic Crown Building,” the spokesperson added. “We continue to entertain significant demand for Aman New York’s residences, even as the building’s units are fully committed.”

[ChiND]

I agree. I anticipate that LVMH’s new tower will include, among other things, a hotel and condos. They planned that in Beverly Hills, but they pulled out due to community opposition.

Assuming that LVMH includes condos, they will be incredibly successful.