As to those "alternate" facades, I think I like most the one to the left of Silverstein, with the diagonal and vertical elements only. I think that'd be a nice architectural transition between towers one and three.
Why is this listed as U/C and 175 Greenwich is listed under proposals? I thought that the PA was financing 175 if certain conditions were met and that no deal is in place for this tower's financing as of yet. I know that Sir Larry claims that all towers will be rising in full, but, in reality, aren't this tower and T3only going to rise as retail stumps until major tenants are signed?
This site is just currently further along than the T3 site. That one will be under construction soon. In either case, it'll be the end of next year at least before this tower comes to a halt, if it does. There is currently no financing to finish the tower. Obviously Larry Silverstein wants to get all of the buildings built, and has confidence he will land a tenant and financing by the end of next year when this one finally reaches street level. It remains to be seen whether he will or he won't.
Future financing has nothing to do with the fact that the tower is currently under construction.
That will come into play in the future. But consider for example, Gary Barnett's Carnegie 57. He doesn't have full construction financing for the tower, but that one rises also. Obviously if no financing comes, both developments will stop in their tracks.
Quote:
Aabar paid for three quarters of the initial financing of Carnegie 57, giving it a “significant equity stake” in the project, said Mr Barnett, who is now beginning discussions with banks to obtain a construction loan to finance the rest of the building. “We expect financing to be available on a conservative basis,” he said.
This site is just currently further along than the T3 site. That one will be under construction soon. In either case, it'll be the end of next year at least before this tower comes to a halt, if it does. There is currently no financing to finish the tower. Obviously Larry Silverstein wants to get all of the buildings built, and has confidence he will land a tenant and financing by the end of next year when this one finally reaches street level. It remains to be seen whether he will or he won't.
I firmly believe that tenants will sign on for all significant amounts of space in T2 and T3 before the end of 2011. However, it seems like this and T3 should both be listed as U/C.
This site is just currently further along than the T3 site. That one will be under construction soon. In either case, it'll be the end of next year at least before this tower comes to a halt, if it does. There is currently no financing to finish the tower. Obviously Larry Silverstein wants to get all of the buildings built, and has confidence he will land a tenant and financing by the end of next year when this one finally reaches street level. It remains to be seen whether he will or he won't.
I'll put my $$$$$ on Silverstein to get both a major tenant and financing by this time next year.
Yes, This is good news to me that tower 2 is added now on the U/C. Hopefully tower 3 along with even other future New York City projects will be added one after another and change the Manhattan skyline forever.
I firmly believe that tenants will sign on for all significant amounts of space in T2 and T3 before the end of 2011. However, it seems like this and T3 should both be listed as U/C.
As soon as we get photographic evidence of construction...
I'm happy to see that there are high rise buildings going up even in the troubled economy. Especially since these are beautiful buildings. I'm a supporter of the development, even though i'm not from New York, New York isn't the same without that piece of property having tall buildings. And these look great, so I can't wait to see the finished products.
*The following information was last updated on October 1, 2010
* Foundation work and footings preparations at the T2 site began in June 2010. It is expected to be complete to grade appx. December 2011.
* Drilling, demolition, rock excavation
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