NEW YORK | 570 5th Ave (Extell) | 858 - 1,060 FT | 47 - 78 FLOORS

[Zapatan]

Originally Posted by ChiND

Thanks. It looks taller than 24 floors. I was thinking 35-40.

It's hard to tell exactly but I count around 35. I'd guess around 5-550 feet, around half the original potential.


Better than nothing but disappointing nonetheless.

[ChiND]

Originally Posted by Zapatan

It's hard to tell exactly but I count around 35. I'd guess around 5-550 feet, around half the original potential.


Better than nothing but disappointing nonetheless.

I’m not disappointed. It looks better than the taller versions. NY has so many very tall towers and many more in the pipeline. Not everything needs to be very tall.

[SkyHigher]

Would be nice to see an image of this smaller version from top of the rock because now not too much of the view of the glorious 520 will be lost.

[NYguy]

^ One of the benefits of a smaller tower at that location. Still, the design is fine, but I wish it could be simplified more. That design works better on a taller tower.

[mrnyc]

i wonder if the design will stay close to that render as the jewelers on fifth building on the corner is down?

[NYguy]

https://nypost.com/2024/07/07/busine...ger-questions/

Big deal to bring Ikea to empty Midtown lot raises bigger questions


By Steve Cuozzo
July 7, 2024

…while everyone wants to see the big, weed-strewn lot between East 46th and 47th streets replaced with a new tower, Ingka’s announcement begged some humongous questions.

1. The building won’t open until 2028. Barnett said in a statement the Ingka deal “allows us to move forward with the first tower to begin construction in the city since the pandemic.”

But when? Extell has not yet begun excavation nor filed any new building plans with the Department of Buildings.

2. Will Extell attempt to buy the corner building at 576 Fifth, which is being demolished by its little-known Korean owners Sae-A Trading, to complete Barnett’s assemblage that’s missing its north corner?

When Sae-A unexpectedly swooped in two years ago to buy the corner site at an inflated price, it deprived Barnett of the full west blockfront he thought he had locked up. It left what we called “a large missing tooth.”

Sae-A inexplicably paid a whopping $101 million for the small, 12-story building — at least $20 million more than other developers, including Extell, offered, sources said at the time.

The new Extell tower design shows the old structure at 576 Fifth still there, complete with its “Jewels on Fifth” sign — but it’s coming down floor by floor.

3. Exactly what does Ingka have in mind at the new tower? Its announcement said a “new IKEA customer meeting point will be located in the prime retail space of 80,000 square feet” in “two large cellar levels” with an avenue entrance.

But why not call it a “store,” if that’s what it will be?

[NYguy]

Who’s going to tell them?…


https://commercialobserver.com/2024/...m-refinancing/

Extell’s Supertall Skyscraper at 570 Fifth Avenue Secures $340M Refinancing
Korea’s IGIS Asset Management provided the loan that includes $9.3M of new debt


BY BRIAN PASCUS
JULY 12, 2024

Extell Development’s supertall vision for 570 Fifth Avenue is closer to becoming a reality.

Gary Barnett has secured $340 million to refinance its loan on 13 parcels of land for 570 Fifth Avenue, an upcoming supertall office and hotel-residential tower in Midtown Manhattan.

[colemonkee]

^ Hahaha!

[NYguy]

JULY 28, 2024