NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,575 FT | 86 FLOORS

[ChiND]

Originally Posted by NYguy

I think the hotel would stay open through the end of the year, even if an anchor tenant were signed before then. But foundation work and demolition work would commence at the same time. So there would be no time wasted whenever work does begin on this tower.

Through the end of 2024 or 2025? If the former, I agree. If the latter (ie., 2025), I really hope not.

[ChiND]

Rechler will be the keynote speaker for the “State of the Office” conference on November 13th. Hopefully, he’ll have some news about this project.

[NYguy]

https://www.curbed.com/article/midto...ales-bump.html

Midtown’s J.P. Morgan Sales Bump


By Kim Velsey
Aug 5, 2024

As Shea mentioned, J.P. Morgan, one of the staunchest supporters of working from the office, is finishing 270 Park Avenue, a 2.5-million-square-foot Norman Foster–designed behemoth expected to hold upwards of 10,000 employees when it opens next year. Its old headquarters across the street has less than half that — 3,500 workers.

More blue-chip towers (and, presumably, wealthy buyers) are on the horizon, including the 62-story 350 Park Avenue, the new Vornado and Rudin tower that Ken Griffin’s Citadel is expected to take nearly half of, and 175 Park Avenue, an RXR/TF Cornerstone project slated to be the tallest office building in New York. Plus, there’s One Vanderbilt, which opened a few years ago with tenants including TD Securities, Oak Hill Capital, and the Carlyle Group. Brokers are eagerly anticipating the corresponding sales bump at nearby residential projects. Some say that they’re already seeing it.

“It’s definitely helping with traffic,” says Donna Puzio, a senior sales director at Corcoran Sunshine Marketing Group who’s overseeing sales at 520 Fifth Avenue, a mixed-use tower designed by Kohn Pedersen Fox. The units there, with curved Charles & Co. interiors of white oak and green marble, are large and luxurious, but primarily one- and two-beds, starting around $1.75 million, and the building is now 60 percent sold after just a few months.

[ChiND]

I am so eager for news about this icon.

[NYguy]

https://www.wsp.com/en-us/projects/175-park-avenue


175 Park Avenue
Creative structural solutions allow a supertall structure to rise above below-grade transit lines on a tightly constrained site in Manhattan.

Nowhere to go but up

With views of the Chrysler Building and the adjacent Grand Central Station, the location is culturally iconic. But the site’s transit connections created a challenge for WSP’s Building Structures team.

Two major transit lines run beneath the site: the busy 42nd street Interborough Rapid Transit subway station and the Metro North commuter rail loop tunnel, which services Grand Central Terminal. The rail lines dissect the site, making most of the base unusable for the future foundations.

The loop tunnel slices the base of the building in half, while the 42nd street subway station occupies most of the eastern half of the site, resulting in approximately 66 percent of the ground surface being untouchable and most of the useable ground in undesirable locations.

Structural design needed to meet these site challenges and more, including a plan to keep all the rail lines and tunnel active and safe during construction.

Blending engineering and art

Existing conditions and constraints resulting from the below-grade rail lines limited touch-down areas for the new structure. Foundations for the supertall structure had to be supported directly upon rock, which was accomplished with a combination of footing and caissons strategically located clear of the rail lines.

The building core, which forms the spine of the building structure and encompasses the entire elevator system, is also constrained since only 40 percent of the core could extend down to rock.

The solution was a combination hanging and cantilevering core supported from a structural platform composed of super trusses spanning the entire site, with supporting mega columns located mostly along the edges of the tower. This structural system is linked to a beautiful exterior lattice frame, which completes the structural load path that directs the tower loads to the mega columns.

In 2024, 175 Park was recognized with the Future Project Award by the Council for Tall Buildings and Urban Habitat. The award of excellence focuses on building designs that advance sustainable vertical urbanism through innovation, efficiency, and potential influence on the industry. The building is expected to open in 2030.

Floors......83
Height..........1,580 feet

[ChiND]

Not to sound like a broken record, but I think that Blackstone will anchor this. No one does a ten-year lease extension, and the timing fits perfectly with occupying this tower when it’s complete.

[Zapatan]

^ I hope so. Maybe they'll call it Blackstone Tower too.

That rendering of the base is awesome.

1,580 feet is a slight height bump. If that's correct I guess the 1,575' limit referred to a solid roof maybe.

[ChiND]

Originally Posted by Zapatan

^ I hope so. Maybe they'll call it Blackstone Tower too.

That rendering of the base is awesome.

1,580 feet is a slight height bump. If that's correct I guess the 1,575' limit referred to a solid roof maybe.

I think that Blackstone would be a great name.

[ChiND]

Weil Gotshal’s lease ends in 2029. I don’t think that this tower could be ready by then even if demolition started in 2025.

I assume that many developers are trying to lure WGM from its long-time home at the GM Building, including BP for 347 Madison or its proposed HY tower.

https://therealdeal.com/new-york/201...e-gm-building/

[giantSwan]

Based on the renderings, the site- this could easily become on of the greatest buildings on planet earth

[Zapatan]

Agreed, I like this one.

I just hope it's not too far off and that it actually happens at this scale.

[NYguy]

https://commercialobserver.com/2024/...apital-stacks/

[ChiND]

I skimmed through it and did not see any reference to 175 Park. It’s nice to see them posing with the model though.

[NYguy]

https://www.costar.com/article/18278...efit-landlords

By Andria Cheng
August 30, 2024

“As the owner of several buildings in the Grand Central neighborhood, including the upcoming 175 Park Avenue, the Park Avenue redesign is the kind of forward-thinking program that will not only benefit businesses — large and small, but, most importantly, the broader public,” Scott Rechler, chairman and chief executive of New York-based real estate developer RXR Realty, said in an emailed statement to CoStar News.

175 Park Ave. is a project RXR plans to co-develop by Grand Central Terminal that will involve a nearly 1,600-foot-tall tower billed to have the highest occupied office floor and highest hotel in the Western Hemisphere. RXR also owns the iconic Helmsley Building that straddles Park Avenue just north of Grand Central.

[SamLYNY]

This should fill a nice gap in the skyline, especially when looking from FiDi. - So much for blocking 'important views'...

If this actually rises, it will 100% be one of the most impressive projects to come out of this supertall age we're seeing in NY.

Imagine the views during construction - 270 is beefy, but quickly tapers past the upper setbacks. Instead, this will remain massive for almost its entire height, something that onlookers admiring streetside or from atop an observation deck will definitely notice.


Image source

EDIT: Here's another gif I made to better demonstrate how much more building this would add to the midtown skyline. It would be a phenomenal tower if constructed.


Original photo belongs to the brilliant Brian Aronson

[Placement/color/quality isn't perfect (I'm no Xing Lin) but they're good enough for me.]

[Zapatan]

Originally Posted by SamLYNY

If this actually rises, it will 100% be one of the most impressive projects to come out of this supertall age we're seeing in NY.

Just this and 350 Park are all I ask for.

It's no guarantee but NY could pull it off.

[ChiND]

Please, Jesus!

https://hotelsmag.com/news/hyatt-ceo...on-his-hotels/

By David Eisen
September 5, 2024

…. More deals are on the way. The Andaz London Liverpool Street has reportedly been under contract to be sold since 2022; similarly, Hoplamazian noted that the Hyatt Grand Central New York, which Hyatt and the Pritzker family has owned outright since 1996, when it acquired former President Donald Trump’s stake in the property, is under contract to be sold. The hotel is set to be razed to make way for a new one with a much smaller room count—around 500 keys compared to the now more than 1,300. It’s part of the redevelopment of 175 Park Ave. by RXR Realty and TF Cornerstone that was supposed to get underway in 2023. A Hyatt spokesperson said that Hyatt continues to collaborate with TF Cornerstone and RXR on the project and confirms a purchase and sale agreement remains in place.

[NYguy]

A Hyatt spokesperson said that Hyatt continues to collaborate with TF Cornerstone and RXR on the project and confirms a purchase and sale agreement remains in place.

Sounds like a different branded hotel. Still remains to secure an office tenant.

[ChiND]

Originally Posted by NYguy

Sounds like a different branded hotel. Still remains to secure an office tenant.

I hope that Blackstone or Morgan Stanley will anchor it.

[NYguy]

Always enjoy these...


• Video Link