NEW YORK | 574 5th Ave (Extell) | 567 FT | 32 FLOORS

[ChiND]

Originally Posted by Sky88

And thank goodness it was supposed to be a super-tall skyscraper.

NY has so many supertalls and a lot more on the way.

[NYguy]

Keep in mind Extell never went through the approvals to get a larger and taller building on site. This is being built as-of-right, meaning what the site is already zoned for. They could technically still build as tall as they want, but that wouldn't fit the programming for this tower, which is a commercial/office building.

Originally Posted by NYguy

Highest occupied floor is 532 ft above street level, so this will probably be a middle 500 ft tower.

Looks to be about 567 ft...

[jackster99]

Can't decide how I feel about Extell. They're simultaneously the most badass developer in NYC and also the most disappointing. They got the ball rolling on the Billionaire's row towers with One57, but it's widely regarded as the most ugly of them and they cost cut the lit crown. I loved it at first but I don't think it's aging gracefully. Central Park tower is incredibly tall yes but a snoozefest other wise. 740 8th avenue has the possibility to be cool but might also be a mar on the skyline. And now this building, they could have gone taller but didn't.

[Busy Bee]

I don't know why they don't go commercial below and residential above. They've got a full block footprint so they have the space for a separate residential lobby and a fat core with designated express elevators. Much like the pile of disappointment office project going up where Calvary used to be on 57th, they seem to inexplicably be leaving a huge amount of profit potential on the table by not making maximum use of the site.

[UrbanImpact]

Originally Posted by Busy Bee

I don't know why they don't go commercial below and residential above. They've got a full block footprint so they have the space for a separate residential lobby and a fat core with designated express elevators. Much like the pile of disappointment office project going up where Calvary used to be on 57th, they seem to inexplicably be leaving a huge amount of profit potential on the table by not making maximum use of the site.

Wouldn't going commercial require signed tenant(s) for a construction loan?

[NYguy]

Originally Posted by Busy Bee

I don't know why they don't go commercial below and residential above. They've got a full block footprint so they have the space for a separate residential lobby and a fat core with designated express elevators. Much like the pile of disappointment office project going up where Calvary used to be on 57th, they seem to inexplicably be leaving a huge amount of profit potential on the table by not making maximum use of the site.

That would make more sense on a smaller lot, something similar to 520 Fifth Avenue. But in this case, to even consider commercial (office) floors, especially of that size, you need to make it worthwhile.

We’re working with half the square feet as would have been possible had Extell gone through with the ULURP (approval) process. Even if they just wanted to build a hotel/residential tower, they would still need ULURP, as all hotels now do.

I believe this is further complicated by being on a lot that covers most of the block.

Also, one important thing is that Extell now has a partner in this development, which is why its moving forward.


Extell needed to complete all of this to get the larger development.

[NYguy]

https://www.pincusco.com/bassalali-f...fth-ave-tower/

Bassalali family files to demo Midtown West building in footprint of Extell’s Fifth Ave tower





September 20, 2024

Adam Bassalali filed plans to demolish a 10-story Midtown West building at 15 West 46th Street...

One of the few sites on the block not part of Extell's lot assemblage (lot 27). 41 is gone, and 27 is being demo'd. Could have been a nicer footprint.

[ChiND]

I would not be surprised if Extell buys it.

I’d like to see the crap on the south side of 46th closer to 6th get redeveloped, including that horrendous garage.