NEW YORK | 574 5th Ave (Extell) | 567 FT | 32 FLOORS

[NYguy]

Hopefully we will get some finalization of plans for this site in the coming weeks or months.

[Zapatan]

Originally Posted by NYguy

Hopefully we will get some finalization of plans for this site in the coming weeks or months.

That would be awesome but what makes you think it'll be so soon?

[NYguy]

Originally Posted by Zapatan

That would be awesome but what makes you think it'll be so soon?

I'm no Nostradamus, but the fact that the building is coming down means there will be some type of resolution with the site, one way or another.

[ChiND]

There’s speculation on Yimby that this is the design, and that it’s placed at the WTC to preserve confidentiality.
It looks like it’s about 1,100’ tall.


The architect’s Instagram is Hism.eu. There’s a nice video.

[TKD]

Originally Posted by ChiND

There’s speculation on Yimby that this is the design, and that it’s placed at the WTC to preserve confidentiality.
It looks like it’s about 1,100’ tall.


The architect’s Instagram is Hism.eu. There’s a nice video.

Not sure where any of the speculation you're talking about is anywhere on the YIMBY forums, there was 0 speculation on any of that, the vision was featured in multiple random locations. Nobody said that that was the design, and nobody said the latter about confidentiality. that's not how that works.

HISM is not an architecture firm, it is a graphic design/visualization firm, the confidential client would be an architecture firm (who are still allowed to do conceptual work on random sites they have no association with), not the client, who is still Extell.

[jbermingham123]

Whoa

Please skyscraper gods, please

[Zapatan]

That'd be cool if true but seems a bit far fetched.

Also it looks more like 1,250+ feet tall compared to 1WTC.

[Charmy2]

I absolutely love it! I did see a rendering of the same design also in Hudson Yards and on what appeared to be the 570 Fifth site.

[SkyHigher]

This is all rather odd. Either way taller the better to fill up this part of the skyline. Getting Blade Runner vibes.

Maybe someone can pop this design in the view from Top Of The Rock and from the ESB.

[NYguy]

MAY 31, 2024


Hope Barnett upsizes this project to stand with the bigger boys in Midtown. 1,300 ft would be nice.



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Meanwhile, 270 Park looms above...


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[NYguy]

https://www.streetinsider.com/dr/news.php?id=23419228&gfv=1

INGKA INVESTMENTS MAKES INVESTMENT ON FIFTH AVENUE
Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, invests in Extell's new world-class office and retail tower.





July 1, 2024

Ingka Investments, the investments arm of Ingka Group, which owns the majority of IKEA stores worldwide, announced today a real estate investment on New York City's iconic Fifth Avenue. The investment in 570 Fifth Avenue will be part of the real estate portfolio of Ingka Investments and marks a significant step in Ingka Group's long-term strategy to enhance its city center retail presence.

The new Class-A retail and office tower is being developed by Extell Development Company, one of the nation's premier development firms. The building is scheduled for tenant delivery in 2028.

This strategic alliance between two industry leaders marks the largest development on Fifth Avenue in more than 60 years. Located at the intersection of the Plaza and Grand Central Districts, 570 Fifth Avenue will be a 1,000,000-square-foot mixed-use commercial building, with an outstanding address, exceptional access to transportation, world-class architecture, and next level services and amenities. A new IKEA customer meeting point will be located in the building's prime retail space of 80,000 sq ft arranged over two large cellar levels with a corner entrance on Fifth Avenue. With a focus on sustainability and wellness, the tower is targeting a minimum LEED Gold certification and will exemplify high sustainability standards and low carbon operation principles.

Gary Barnett, Founder & Chairman, Extell Development Company: "We have been working on assembling this project for almost two decades and Ingka Investments' substantial commitment allows us to move forward with the construction and leasing of the best new office building in New York. This will be the first office tower to begin construction in the city post pandemic and it is a great sign of New York's resilience. We are thankful to the Ingka Group team for their confidence in the project and New York's future and look forward to a rewarding partnership. We are also thankful to our lenders, Meritz Securities and IGIS, for their continued commitment to the project."

Ingka Investments will hold a one-third stake in the project alongside preferred equity components and full ownership of the prime retail space where the IKEA customer meeting point will be located. Extell will hold a two-thirds stake in the project.

[ChiND]

It looks a little different, but since the 47th St building is still there, I assume that the design has not been finalized.

Also, it seems that the IKEA entity will have an ownership stake. I assume that this will rise on a spec basis given the 2028 completion date.

[Zapatan]

Looks way shorter, barely 500 feet even compared to its surroundings.

[mrnyc]

^ i wouldn’t bother as its just a design firm practicing their chops with a random vision.

[ChiND]

I really hope that Extell goes with the condo/hotel format and that it gets a new design. The initial designs shown to the Community Board were mediocre. 520 Fifth, by contrast, is utterly spectacular.

[NYguy]

I found the designs to be pretty nice. We would be lucky to get either, and not some bland, boring blue box. But if Extell moves forward with the mixed-use tower, they could perhaps reach for more height. It’s becoming harder to compete on the Manhattan skyline. 1,000 ft is the new 700 ft.

[ChiND]

Didn’t KPF design this, 520 Fifth and 347 Madison? I find those buildings mundane but for 520 Park, which is gorgeous. However, as noted elsewhere, 347 Madison apparently has a new, striking design which is more apropos for KPF.

[TKD]

520 Park is not the same as 520 5th Ave, 520 Park is a RAMSA building.

Also whatever happens here regardless of the design being updated or not/whatever we end up getting, the proposals we know of are not mundane at all, there's no doubt that the quality of the cladding would be extremely high. Not everything needs to be overly embellished to be nice.

[NYguy]

Yeah, I’m expecting Extell to put up something nice here in either case.

[ChiND]

It looks a lot better with the extra setback. The first setback is also much lower now. See the comparison to the corner building on 47th.