NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,581 FT | 92 FLOORS

[ChiND]

That’s a great video. 175 and 350 Park will be utterly iconic, like 270 Park
And 1 Vanderbilt.

[ChiND]

Hopefully, this will precipitate some action.

https://therealdeal.com/national/2024/09/18/fed-announces-half-point-interest-rate-cut/

Rechler discusses rates with Milftastic Becky Quick in the attached video:

https://www.msn.com/en-us/money/news/the...er/vi-AA1qHYFz?ocid=finance-verthp-feeds

Here he is in a recent Bloomberg appearance:

https://www.bloomberg.com/news/videos/20...ate-by-a-half-point-in-historic-decision

[Zerton]

Originally Posted by NYguy

Always enjoy these...


• Video Link

Amazing work

[Imaus]

Originally Posted by SamLYNY

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

The important view is of the Chrysler building from Grand Central, not anything from anyone looking north from directly south.

[NYguy]

Originally Posted by Imaus

The important view is of the Chrysler building from Grand Central, not anything from anyone looking north from directly south.

The view of the Chrysler Building from any angle it is viewed is the important view. It's the same view from every angle. 175 Park will only marginally affect that view.


https://www.gettyimages.com/detail/photo...5?phrase=chrysler+building&adppopup=true






https://www.gettyimages.com/detail/photo...2?phrase=chrysler+building&adppopup=true






https://www.gettyimages.com/detail/photo...2?phrase=chrysler+building&adppopup=true





https://www.gettyimages.com/detail/photo...8?phrase=chrysler+building&adppopup=true






https://www.gettyimages.com/detail/photo...ysler+building+42nd+street&adppopup=true






https://www.gettyimages.com/detail/photo...ysler+building+42nd+street&adppopup=true

[SamLYNY]

Originally Posted by Imaus

The important view is of the Chrysler building from Grand Central, not anything from anyone looking north from directly south.

This is nonsense in my opinion. Walk 30 steps down the block and that 'important view' will be restored.

But on the other hand, I totally understand that some views are more iconic than others - especially the one you bring up - since almost everyone who has stopped in the city has seen it, so I get what you're saying - its a part of the city's history.

But the one thing that defines NYC more than any other city on earth is that its always changing and evolving... hell, a moment's peace and quiet is hard to come by between all of the construction work going on. It's never static. And I think in this case that is a good thing, it will force people to find more interesting views of the city, and fresh angles let people see parts of the city that they might otherwise overlook.

I'm not against the creation of new 'important views' which could include these new developments, rather than be blocked by them.

Every new project adds another element to the city, and its unrelenting progress is what brought us such icons as the Chrysler building.


I guess since the ESB blocks the view from Pier A across the Hudson we should go ahead and knock it down?

This view up Broadway has to be one of my favorite vistas of the city. What an amazing photo.

Originally Posted by NYguy

https://www.gettyimages.com/detail/photo...5?phrase=chrysler+building&adppopup=true

[Busy Bee]

Zeckendorf Towers is an acquired taste.

[NYguy]

Originally Posted by SamLYNY

But the one thing that defines NYC more than any other city on earth is that its always changing and evolving...

Yes, the skyline is alive because the city is alive. One reflects the other. New York is never just exactly one thing, and the skyline is never finished.

[NYguy]

https://www.businessinsider.nl/what-offi...h-end-space-and-are-rushing-to-build-it/

What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
-Much of the office market may be mired in a downturn, but demand has been strong for high-end space.
-New office construction has dropped off sharply, leading to a potential upcoming shortage.
-Major developers and tenants have taken notice, and projects are revving up to break ground.


Daniel Geiger
10 03 2024

A growing number of office developers have taken notice and see a budding shortage they are eager to cater to. Large office tenants, who often plan their space decisions years in advance, have also begun to recognize that while space options may abound now, they are likely to vanish in the coming years – raising interest in new development.

"The last six, seven months, there's not just people coming kicking the tires, there's people that are really looking to engage," said Scott Rechler, the CEO of RXR Realty, referring to what he says is growing tenant interest in 175 Park Ave., a 2.8-million-square-foot skyscraper designed by Skidmore, Owings & Merrill that developers RXR and TF Cornerstone are planning next to Grand Central Terminal in midtown Manhattan.

The group now aims to begin construction on the more than $4 billion, 1,575-foot-tall tower midway through 2025 and with significantly less pre-leasing than originally planned because of their growing confidence in demand. Asking rents at the tower will be above $200 per square foot, among the highest ever sought in the city.

"There used to be a point where we thought we would need to pre-lease all of it," Rechler said. "Now, we think that at 500,000 feet, it's probably enough to get going."

Rechler said that interest in elite new space had been stoked by other high-end offerings in the market, such as One Vanderbilt, a recently built nearby tower, JPMorgan's new headquarters at 270 Park Ave., and a planned skyscraper at 350 Park Ave. that will house the investment firm Citadel.

"If your competitors have a building like that that they're identified with and you're trying to be on a parallel path, you're going to say I want to be in a space at the same level or better," Rechler said.

[ChiND]

This is great news!!!

[UrbanImpact]

As of now you can still book a hotel at the Hyatt for till the end of September of 2025.

[NYguy]

Originally Posted by UrbanImpact

As of now you can still book a hotel at the Hyatt for till the end of September of 2025.

That’s always been the case. But go ahead and book a room for September, I wanna see how they will notify customers at time of closing.

[UrbanImpact]

Originally Posted by NYguy

That’s always been the case. But go ahead and book a room for September, I wanna see how they will notify customers at time of closing.

Done! $517 for a basic queen bed room. Free cancellation till August 30th 2025. I’ll keep everyone in the loop if I get a cancellation message one day.

[ChiND]

Originally Posted by UrbanImpact

Done! $517 for a basic queen bed room. Free cancellation till August 30th 2025. I’ll keep everyone in the loop if I get a cancellation message one day.

$517 plus tax is crazy. NY needs a lot more hotel rooms to diminish the prices. Yokels from Sheboygan like me who want to come to the big city to teach manners and God’s way can’t afford those prices.

[chris08876]

^^^

You can always preach outside of Penn Station. There's plenty of preaching going on out there.

Sleep on the steps of Moynihan perhaps? Or in NJ. Rutherford hotels.

[UrbanImpact]

Originally Posted by ChiND

$517 plus tax is crazy. NY needs a lot more hotel rooms to diminish the prices. Yokels from Sheboygan like me who want to come to the big city to teach manners and God’s way can’t afford those prices.

$100 of it is fees and taxes. You can save $45 with non-refundable/no cancellation options. The high price here is because of location. Just imagine how much a hotel room will cost in the new building.

[chris08876]

I believe the shortage is exacerbated by the migrant crisis as some of these hotel rooms or a percentage of the inventory is used for that.

But considering an uptick in tourism since Covid, essentially exceeding pre-covid levels... what is true is that the city needs more hotel/hospitality units. Especially in Manhattan.

We have hotels rising in Queens and the outer boroughs, so the demand is there, especially near the core central.

Granted Q4 is the busiest in terms of hotel unit demand, I can't imagine what December will yield. Sky high prices. August as well but not as high as November and December.

[NYguy]

Originally Posted by UrbanImpact

Done! $517 for a basic queen bed room. Free cancellation till August 30th 2025. I’ll keep everyone in the loop if I get a cancellation message one day.

Cool. I thought about doing it just because I know it’s there for a limited time. I did it at the Hotel Penn a few years ago. (That hotel was worse than thought, understandable given its placeholder status). But still, RXR would have to get some action going on foundation permits if work is expected to begin next year. It takes a considerable amount of time before anything is approved by the DOB. Same can be said for 625 Madison. But as soon as it’s known the hotel will be closing you should be notified.

[Crawford]

Is this tower now 1,580 ft.? I'm seeing public docs with differing heights.

I guess we'll find out soon enough?

[NYguy]

Originally Posted by 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.

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

Originally Posted by Crawford

Is this tower now 1,580 ft.? I'm seeing public docs with differing heights.

I guess we'll find out soon enough?

That was the height given by WSP, as they have been working on the tower. But we won't know anything for sure, things could change even while under construction.