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Originally Posted by NYguy
Did they though? Any direct quotes? The filings for what’s going on at the site tell the story, not rumors and speculation. Follow actions, not words.
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Visser is a very high-ranking leader at Related, and his comments are from a few weeks ago. I suspect that the residential tower that we’ve seen won’t rise. I’m not getting unnecessarily excited. It’s entirely possible that something as lame at 343 Madison, Related's own 70 HY, or 570 Fifth could rise here. Similarly, I cringe at the thought of a vanilla glass box that Gary might build on Park. Regardless, it seems that an office tower will rise here. This makes sense since Related is building a condo nearby at the Prada site. Further, while there is strong demand, many high-end condos are planned and, thus, there will be a lot of competition:
1. 800 Fifth (which has the best site);
2. 41 W 57th;
3. 655 Madison;
4. The ABC site;
5. Possibly 10 W 57th (Soloviev said that he might build offices there);
6. Possibly 36 CPS, which, if built, will be unparalleled.
7. The Wellington I believe will be rentals and hotel -- not condo.
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