NEW YORK | 350 Park Avenue | 1,413 FT | 62 FLOORS

[Crawford]

The three blocks between Chase and Citadel are all redevelopment candidates too. The southernmost block, in particular, is well into planning.

The west side of Park could eventually be a parade of supertalls.

[NYguy]

Another look at that model...

[ChiND]

Originally Posted by Crawford

The three blocks between Chase and Citadel are all redevelopment candidates too. The southernmost block, in particular, is well into planning.

The west side of Park could eventually be a parade of supertalls.

Which one is that which is well into planning?

The Colgate-Palmolive building should come down when CP's lease expires. I think it expires in about eight years.

[Crawford]

Originally Posted by ChiND

Which one is that which is well into planning?

The Colgate-Palmolive building should come down when CP's lease expires. I think it expires in about eight years.

SL Green owns 280 Park, which is a two-towered complex just to the north of Chase. They eventually plan on demolishing both and replacing with a major tower. They're keeping space off the market, and the existing leases have demolition clauses.

And yeah, Colgate should go next. It's pretty bad.

[NYguy]

Originally Posted by Crawford

SL Green owns 280 Park, which is a two-towered complex just to the north of Chase. They eventually plan on demolishing both and replacing with a major tower. They're keeping space off the market, and the existing leases have demolition clauses.

I don't think 280 is coming down, at least no time in the near future. At one point, Citadel was considered as a potential tenant there (they instead are moving to 660 5th), but Vornado has signed other tenants...

https://slgreen.com/sl-green-and-vor...0-park-avenue/

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

They're currently getting approvals for outdoor restaurants on both the south and north sides of the towers.

[ChiND]

Originally Posted by Crawford

SL Green owns 280 Park, which is a two-towered complex just to the north of Chase. They eventually plan on demolishing both and replacing with a major tower. They're keeping space off the market, and the existing leases have demolition clauses.

And yeah, Colgate should go next. It's pretty bad.

Where did you hear about 280 Park? That's such a hideous tower. I've alwyas wondered why SLG doesn't raze the portion of the tower that's on Park and leave the mid-block tower that it's connected to. The mid-block tower is huge and would be a headache to raze, but the PoS that's actually on the Park isn't very big and could come down easily.

SLG clearly has shown its aversion to demolishing large towers based upon its disgusting plans for the hideous eyesore, 245 Park.

Anyway, Vornado, which owns 280 with SLG, shows availability in this eyesore:

https://www.vno.com/office/property/...311687/landing

[Crawford]

Originally Posted by ChiND

Where did you hear about 280 Park? That's such a hideous tower. I've alwyas wondered why SLG doesn't raze the portion of the tower that's on Park and leave the mid-block tower that it's connected to. The mid-block tower is huge and would be a headache to raze, but the PoS that's actually on the Park isn't very big and could come down easily.

It's been in Crains NY and other sources. And SL Green and Vornado have been very transparent that their long term plans are demolishing both and replacing with a landmark skyscraper. Those towers have poor layouts.

Originally Posted by ChiND

SLG clearly has shown its aversion to demolishing large towers based upon its disgusting plans for the hideous eyesore, 245 Park.

I don't think so. SL Green built One Vanderbilt, on the site of a 900,000 square foot tower. SL Green is the largest commercial owner in NYC. And Vornado built Bloomberg Tower, 220 CPS, and owns most of the Penn District.

245 is an extremely valuable skyscraper with big floorplates, perfect for financial firms. It doesn't make sense to demolish towers with ideal layouts. 280 has small floorplates. Not every mid-century tower will be replaced, just the ones with bad layouts.

[NYguy]

Originally Posted by Crawford

It's been in Crains NY and other sources. And SL Green and Vornado have been very transparent that their long term plans are demolishing both and replacing with a landmark skyscraper. Those towers have poor layouts.

Vornado isn't going to demolish those buildings anytime soon. Mybe 10-20 years from now. 280 Park Avenue is really 2 buildings connected by a smaller one. They've been signing and extending leases there.

https://books.vno.com/books/mzcd/#p=196