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

[wpolom]

A stunning tower that screams New York!

[NYguy]

The thing about this tower, it will also be very iconic from the street level. And it does scream New York!

[Zapatan]

Originally Posted by Crawford

This just has to be the new Blackstone HQ. Blackstone recently reported record earnings, and needs new long-term space.

Hopefully we get some news by the holidays.

Blackstone Tower would also sound so epic.

I wonder just how much the anchor tenant would change the design and height of the building though. Remember that much like 350 the current height is the envelope and subject to change. Value Engineering will probably happen too.

The base, crown and outdoor spaces are so cool and I hope remain untouched.

[giantSwan]

wowowowow

[ChiND]

Rechler noted his firm already has an anchor tenant for a 2.8 million square foot project that will replace a Hyatt hotel in the 2031-2032 timeframe. “People believe in New York,” he said. RXR has $7 billion in project financing and “you don’t get that if people don’t believe in the future of New York,” he added, though he said it may require “a little bit of a longer lens.”

https://www.cnbc.com/2025/11/14/new-york-city-mayor-zohran-mamdani-real-estate-ceos.html


"No one leaving New York City because of Mamdani, say two top real estate CEOs"
Published Fri, Nov 14 202510:55 AM ESTUpdated 50 Min Ago

Eric Rosenbaum

[NYguy]

Rechler noted his firm already has an anchor tenant for a 2.8 million square foot project

That's been the consensus, though they are waiting until things are finalized to announce it. They are still going to need that assist with the financing (which is also on track) due to the exploding $7 Billion pricetag of the entire project.


https://vinnews.com/2025/11/14/top-ceos-...e-leasing-booms-despite-mamdani-victory/

High-profile projects underscore the confidence. Rudin noted that Citadel’s Ken Griffin is moving forward with a two-million-square-foot office at 350 Park Avenue, while RXR recently signed a 300,000-square-foot lease with plans to expand by another 200,000 square feet.

[ssh]

Is it just me, or is $7b just absurd...

[ChiND]

Originally Posted by NYguy

That's been the consensus, though they are waiting until things are finalized to announce it. They are still going to need that assist with the financing (which is also on track) due to the exploding $7 Billion pricetag of the entire project.


https://vinnews.com/2025/11/14/top-ceos-...e-leasing-booms-despite-mamdani-victory/

I wouldn’t be surprised if the tenant is putting up capital and will be a part owner of this tower.

[NYguy]

Originally Posted by ssh

Is it just me, or is $7b just absurd...

NYC is notoriously expensive to build in. But things haven't gotten more expensive for construction everywhere in the country (Citadel recently revealed the costs of its headquarters there has increased significantly), and with costs only going up. But the cost here also covers a lot. It's more than just the building.

[Zapatan]

Originally Posted by ssh

Is it just me, or is $7b just absurd...

While there are lots of factors at play it's about 4 times the cost of the Burj Khalifa, let that sink in, even considering inflation, location etc. that's insane.

Even in NYC it'd be a feat to pull of a building half that price tag so the stars will really have to align. I would bet money the building is shortened considerably and value engineered, even the Gulf states often wind up abandoning projects this ambitious.

Don't shoot the messenger but 350 was an omen, I'm simply trying to spare everyone disappointment lol.

[ChiND]

Originally Posted by Zapatan

While there are lots of factors at play it's about 4 times the cost of the Burj Khalifa, let that sink in, even considering inflation, location etc. that's insane.

Even in NYC it'd be a feat to pull of a building half that price tag so the stars will really have to align. I would bet money the building is shortened considerably and value engineered, even the Gulf states often wind up abandoning projects this ambitious.

Don't shoot the messenger but 350 was an omen, I'm simply trying to spare everyone disappointment lol.

Zap, you seem like a nice chap, but some meds might be helpful. You're very pessimistic.

[Zapatan]

Originally Posted by ChiND

Zap, you seem like a nice chap, but some meds might be helpful.

Thanks, and I'm alright I prefer natural remedies.

You're very pessimistic.

Yes, or I'm just realistic.

[NYguy]

Originally Posted by Zapatan

While there are lots of factors at play it's about 4 times the cost of the Burj Khalifa, let that sink in, even considering inflation, location etc. that's insane.

Even in NYC it'd be a feat to pull of a building half that price tag so the stars will really have to align. I would bet money the building is shortened considerably and value engineered

You're bordering on spamming this thread with this nonsense, and it will end now. Stop talking out of your ass and pull out some facts, or find something else to do. It's very tiresome.

[Zapatan]

Originally Posted by NYguy

You're bordering on spamming this thread with this nonsense, and it will end now. Stop talking out of your ass and pull out some facts, or find something else to do. It's very tiresome.

They lowered the height to 1,545' on the main website.

https://www.som.com/projects/175-park-avenue/

[NYguy]

Originally Posted by Zapatan

They lowered the height to 1,545' on the main website.

https://www.som.com/projects/175-park-avenue/

That’s been on that site for a year. It’s also been listed as 1,580 by the engineers. Bottom line, nothing has been filed, there has been no talk of a smaller building, so you can find something else to do.

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

[ChiND]

Here's another article reiterating Rechler's statement that he has a tenant, which apparently was uttered at a CNBC conference.

https://www.credaily.com/briefs/nyc-real-estate-execs-push-back-on-mamdani-concerns/

NYC Real Estate Execs Push Back on Mamdani Concerns
NYC real estate execs say leasing remains strong despite concerns over Mayor-elect Mamdani’s impact on business confidence.
November 18, 2025
By Nina Dale

Rechler also said RXR already has an anchor tenant lined up for a 2.8M SF project slated for 2031.

[NYguy]

Yes, I’m guessing it will be announced when things are finally finalized. Could be a 1 msf deal, which is huge.

[ChiND]

I hope that we have an announcement in 2025. To have 175 and 350 rising simultaneously will be extraordinary.

[ChiND]

Rechler is the man! He mentions it around the 18:40 minute mark.

https://www.cnbc.com/video/2025/11/14/alpha-and-the-city.html?&qsearchterm=rechler%20rudin

[Crawford]

Holy S--t. This is huge news.

This likely means 175 Park is moving forward in the next few months.