NEW YORK | 250 Park Ave | FT | FLOORS - Page 4

Crawford · #61 Posted **Jun 28, 2024, 3:27 PM**

Quote:

Originally Posted by Hudson11

I agree it's a strong possibility they're buying the building to keep it as is to preserve their global HQs southern views.

There's a big tower right behind it, so that doesn't make much sense. Even if you demolished 250 Park and made it a vacant lot, that wouldn't do much for views.

KingNYC · #62 Posted **Jun 28, 2024, 3:58 PM**

I expect something magnificent here from the world's greatest bank.

Ahoi · #63 Posted **Jun 28, 2024, 6:07 PM**

Let the Age of Ramses go on.

NYguy · #64 Posted **Jun 30, 2024, 7:23 PM**

A sense of the footprint of 250 compared to JPMC's 270 Park, as well as the Roosevelt Hotel. A new tower at 250 would be a minimum of 900 ft. (which I'm fine with), likely something higher.

Simon Gosney

NYguy · #65 Posted **Jul 5, 2024, 3:11 PM**

JULY 4, 2024

Busy Bee · #66 Posted **Jul 5, 2024, 3:27 PM**

I think it's just as easily a possibility they bought it to prevent a view blocking structure than it is they intend to build one. If you were Chase and just built a two billion dollar palace of a HQ would you want some tower going up blocking a large swath of your S-SE view including choice views of the Helmsley Building?

A theory.

ChiND · #67 Posted **Jul 5, 2024, 5:37 PM**

Quote:

Originally Posted by Busy Bee

I think it's just as easily a possibility they bought it to prevent a view blocking structure than it is they intend to build one. If you were Chase and just built a two billion dollar palace of a HQ would you want some tower going up blocking a large swath of your S-SE view including choice views of the Helmsley Building?

A theory.

I thought the same thing. I wonder how much this building is selling for. If it’s $300m or less, I want to see JPMC build a park on the site — same with the Bank of China building on Madison.

NYguy · #68 Posted **Jul 6, 2024, 2:40 AM**

Quote:

Originally Posted by Busy Bee

I think it's just as easily a possibility they bought it to prevent a view blocking structure than it is they intend to build one.

I see people keep saying that, but it's not likely. For one thing, the tower here would be so slim that it in no way would block views from 270 Park. It's Manhattan, where a monster like 50 Hudson could be sandwiched in between 2 monsters like 30 Hudson and The Spiral.

Busy Bee · #69 Posted **Jul 12, 2024, 12:07 AM**

Thought I'd put this here...

If anybody has 6 grand laying around you can pick yourself up an original New York Central poster showing the Helmsley nee NYCRR Building on Ebay:

___

NYguy · #70 Posted **Jul 16, 2024, 6:17 PM**

https://commercialobserver.com/2024/...0-park-avenue/

JP Morgan, Hines in Contract to Buy AEW’s 250 Park Avenue

BY MARK HALLUM
JULY 16, 2024

Quote:

J.P. Morgan Chase is in contract to buy AEW Capital’s 250 Park Avenue for $300 million, sources familiar with the deal confirmed.

The bank has been in talks to acquire the property, near the under-construction site of its new headquarters at 270 Park Avenue, since at least June, with Hines as a joint venture partner. The deal is nearing completion, but yet to be finalized, Bloomberg first reported.

https://www.bloomberg.com/news/artic...&sref=aPhxMSeh

PMorgan to Buy NYC Building in More Than $300 Million Deal
Bank is partnering with Hines for the 250 Park Ave. tower
Deal will expand bank’s property bets on Park Avenue

By Natalie Wong
July 16, 2024

Quote:

JPMorgan Chase & Co. is in contract to purchase a Manhattan building near its new headquarters for more than $300 million.

The bank agreed to buy the office tower at 250 Park Ave., in partnership with Hines, from seller AEW, according to a person familiar with the matter who asked not to be identified citing private information. Bloomberg News reported in June that the bank was close to a deal for the building.

The partnership with Hines to me suggest a new tower.

ChiND · #71 Posted **Jul 16, 2024, 6:28 PM**

It looks like we’ll have another 900’+ tower on the way.

I saw from a headline that RXR will be converting The Helmsley.

https://therealdeal.com/new-york/202...0-park-avenue/

Crawford · #72 Posted **Jul 16, 2024, 6:30 PM**

If it's a partnership with Hines, it's pretty clearly a new office development. Likely an expansion of their HQ operation.

NYguy · #73 Posted **Jul 16, 2024, 6:52 PM**

Quote:

Originally Posted by Crawford

If it's a partnership with Hines, it's pretty clearly a new office development. Likely an expansion of their HQ operation.

That's what I'm saying. Too early for a design of course, but I do wonder what a design on that sliver of land would look like. And also, if Foster and Partners will design the sequel.

mrnyc · #74 Posted **Jul 16, 2024, 6:59 PM**

it will seem kinda odd for that one to go away, but only because it fits so nice next to helmsley.

considering the site of course i am sure that will be forgiven once we see renders.

ChiND · #75 Posted **Jul 16, 2024, 9:37 PM**

Quote:

Originally Posted by Crawford

If it's a partnership with Hines, it's pretty clearly a new office development. Likely an expansion of their HQ operation.

I thought the same thing. Consider though that Hines also does residential. They developed Torre Verre, for example. I could see them developing a hotel/ condo on this site.

NYguy · #76 Posted **Jul 16, 2024, 10:52 PM**

https://www.bloomberg.com/news/artic...0-million-deal

NYguy · #77 Posted **Jul 19, 2024, 5:10 PM**

• Video Link

NYguy · #78 Posted **Jul 30, 2024, 1:47 AM**

JULY 27, 2024

ChiND · #79 Posted **Jul 30, 2024, 2:40 AM**

I wonder if a 1,200’ tower is viable on this site.

bdurk · #80 Posted **Jul 30, 2024, 2:20 PM**

Honestly I hope they don't build too tall on this site. I want 270 Park to be viewed in all of its glory from all angles. Max height I would want here is like 600-700 feet and I would love if it tied in with 270 Park. Like a mini version of it would be cool lol.