Quote:
Originally Posted by Crawford
750,000 square feet + tiny site = likely supertall
This will probably be residential/hotel, as the site is too small for office.
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It's the same size as the 1 Vanderbilt block. But barring that, it's still a suitable footprint for office similar to 425 Park. Then there's the issue of obtaining more air rights, which seems likely.
I think it's more likely to be office. The current rezoning for this stretch is going through the approvals process, but there would have to be another for any hotel. That area is rich with assets,
and we saw the Waldorf, one of the classic hotels go for $2B today. I would put my money on a trophy office tower, which has been what that area is known for.
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