Do you have any diagrams including elevation and section drawings for this building that you can obtain from the Department of Buildings to post on this forum.
Do you have any diagrams including elevation and section drawings for this building that you can obtain from the Department of Buildings to post on this forum.
There probably won’t be any for a little while.
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The demand side for this building has been interesting in the sense that, as Doug pointed out, the building is still being designed and yet we're receiving inbound calls from clients who are interested in anchoring the development
Boston Properties says office rents must double to justify building new space
AARON ELSTEIN
September 12, 2023
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…..Boston Properties probably won’t be developing properties in Midtown for a while, either, even though a few months ago the firm finalized a ground lease for a planned 982,000 square-foot office tower at 343 Madison Ave., next to Grand Central Terminal. The project doesn’t have a lead tenant and officials said they will wait a year or two before deciding how to proceed. If the tower doesn’t get built, the ground lease will be returned to the Metropolitan Transportation Authority and Boston Properties would get a refund, Linde said.
Norway partners with Boston Properties on huge Midtown tower
Bloomberg
September 27, 2023
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Norway’s $1.4 trillion sovereign wealth fund has become a partner on a project to build an office skyscraper near Grand Central Terminal.
Norges Bank Investment Management purchased a 45% stake in a planned 900,000-square-foot tower at 343 Madison Ave., according to people with knowledge of the transaction, who asked not to be identified discussing a private matter. Last month, Boston Properties said that it had a joint-venture partner on the project, which would replace a former Metropolitan Transportation Authority headquarters, but didn’t name the investor.
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NBIM has billions in dry powder to spend on properties from offices to logistics, John McCarthy, head of the fund’s U.S. unlisted real estate investments, said in an interview. The fund is seeking to increase its holdings in the country, especially Manhattan, where it’s already a joint-venture partner on buildings including 2 Herald Square and Google-leased offices on Hudson Street.
Norway’s $1.4 trillion sovereign wealth fund has become a partner on a project to build an office skyscraper near Manhattan’s Grand Central Terminal.
Norges Bank Investment Management purchased a 45% stake in a planned 900,000-square-foot (84,000-square-meter) tower at 343 Madison Ave., according to people with knowledge of the transaction, who asked not to be identified discussing a private matter. Last month, Boston Properties Inc. said that it had a joint-venture partner on the project, which would replace a former Metropolitan Transportation Authority headquarters, but didn’t name the investor.
According to someone who works at KPF, the design has changed from what’s been shown in the renderings and is more eye-catching. He posted it on Yimbyforums.
That the developer now lists the proposed tower as 900’ supports the claim from the guy at KPF who says that the design looks quite different from what we’ve been shown thus far.
I guess the lower floors have to be similar considering the constraints of the shallow foot print, but perhaps it tapers a lot more at the top.
I guess this is proceeding. A guy on Yimby who works for KPF and knows the design said that the newest design, which retains the same basic structure, nonetheless, looks very different from what’s been disclosed thus far.
^ Whether the actual tower gets moving or not remains to be seen, but either way, they are supposed to get that station entrance built regardless. Looks like a lot more site prep though.
I guess this is proceeding. A guy on Yimby who works for KPF and knows the design said that the newest design, which retains the same basic structure, nonetheless, looks very different from what’s been disclosed thus far.
How does that equate to proceeding? Unless you are purely basing that on the presence of construction equipment popping up onsite, which still doesnt necessarily mean that this is moving forward "now".
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NYC Project Near Grand Central Draws Norway Fund as Investor
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