Extell poised to snap up $36 million in air rights from historic Midtown church
C. J. Hughes
Quote:
Following a flurry of recent deals to piece together mammoth development sites in the neighborhood, the Gary Barnett-led luxury firm is in contract to buy 123,000 square feet of air rights over St. Thomas church for $36 million, according to a new court filing.
This building reminds me a lot of the Daily News Building.
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Talk yourself into it all you want, this building is zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.
Made even more frustrating by the spectacular years long endeavor to piece together the assemblage and the several lovely structures that were sacrificed for it.
Talk yourself into it all you want, this building is zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.
Made even more frustrating by the spectacular years long endeavor to piece together the assemblage and the several lovely structures that were sacrificed for it.
No need for you nor anybody else to talk yourself into anything. This building is fine as is. But I guess some of you will have to see the actual product.
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Citadel has leased part of the future 350 Park Ave. Deloitte is moving from Rockefeller Center to 70 Hudson Yards, now in development. C.V. Starr is going to the eventual 343 Madison Ave. And Simpson Thacher snagged the lower portion of Gary Barnett’s 570 Park Ave. — which, sources said, is being redesigned into a larger, 1.6 million-ish square feet to accommodate the law firm’s growth and attract other tenants that will pay more for the top of that tower.
Tenants on the prowl include Blue Owl Capital (seeking 600,000 square feet), Capital One (seeking 850,000 square feet), Proskauer Rose (seeking 400,000 square feet) and Two Sigma Investments (seeking 350,000 square feet).
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
St. Thomas is too far to be able to transfer air rights to this lot, even with City of Yes updates to air right transfers.
Thanks.
By the way, isn’t this tower around 925,000 sf? How can Extell make it larger, let alone add over 600,000 square feet, without going through a lengthy city review?
This news makes me happy. It was almost unimaginable Related would spend all that time and money piecing this land together to put that refrigerator box up.
The NYP is garbage, but they should, at least, proofread their articles.
Quote:
And Simpson Thacher snagged the lower portion of Gary Barnett’s 570 Park Ave. — which, sources said, is being redesigned into a larger, 1.6 million-ish square feet to accommodate the law firm’s growth and attract other tenants that will pay more for the top of that tower.
St. Thomas is too far to be able to transfer air rights to this lot, even with City of Yes updates to air right transfers.
Quote:
Originally Posted by Crawford
Great news! Hopefully the redesigned tower is at least a near-supertall.
This will be a much bigger tower, with basically twice the office space as before.
Yeah, those air rights are too far removed to apply here. Extell previously was going for a transit improvement bonus for the larger tower, and they may just do that. I also believe if Extell does get the Park Avenue site, it would likely be office as well.
From the original plan,,,
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Prev
Linear Mode
