NEW YORK | Central Park Tower (Nordstrom)| 1,550 FT | 131 FLOORS

[NYguy]

Originally Posted by NYCrules

Could you be generous enough as to let me know the details of this thing?

http://www.nypost.com/p/news/business/barnett_gambit_OwrGejmX9Pei2YAKSBkLuN

Gary Barnett puts vacant W. 57th site on block

By LOIS WEISS
March 12, 2013

Gary Barnett finally wants to give up his pawn in a high-stakes game on West 57th Street. The developer, who has been selling many noncore assets, is placing the entirely vacant 16-18 W. 57th St. on the market and expects to get back the $80 million he paid in 2011 while outbidding Sheldon Solow — who would be the logical buyer.

Barnett told The Post in February 2012 that he was “planning to develop the property [at 16-18 W. 57] with a super high-end hotel.” Just steps off Fifth Avenue, the structure is sandwiched between 10-14 W. 57th and 20-22 W. 57th St., which are both owned by Solow, as is 6-8 W. 57th.

Some say Solow, an irascible billionaire octogenarian, has kept these properties semivacant to ensure nothing blocks the views of his 9 W. 57th office tenants, who pay well over $100 to $200 a square foot to enjoy both Central Park and city views. But it is more likely that the secretive Solow is glomming onto a site of his own and Barnett’s buy was made to stall a redevelopment while his own One57 down the street was being completed. Residential units at One57 are in contract for as much as $45 million per floor.

Barnett is similarly holding up Vornado Realty Trust’s 220 Central Park South by refusing to give up a garage lease while his own Nordstrom building goes up behind it.

[scalziand]

^^Illuminating.



9 w57th Solow

20-22 w57th Solow
16-18 w57th Barnett is selling this one
10-14 w57th Solow
6-8 w57th Solow

[Crawford]

Assuming Extell sells to Solow, we will likely see something very tall, skinny and expensive.

I would imagine this site could get the highest prices of all the proposed 57th Street towers.

I mean, this tower would be right off Fifth Avenue, and with drop-dead views of the park, as long as the massing were on the far east side of the lot. Of course, if it were extremely tall, they could mass it wherever, because it would tower over everything.

In any case, most residents would have incredible park views.

How about a height race between Extell and Solow? I'd love to see that!

[scalziand]

Those four parcels would be about half the size of the 225w57 development. Does Solow own any other properties on (the south side of) the block?

[NYguy]

Originally Posted by scalziand

Does Solow own any other properties on (the south side of) the block?

You mean 56th Street? Don't know who owns those sites. But a tower there would be in the neighborhood of spectacular residential towers, of which 57th Street is seeing more of.

[scalziand]

Yeah, I meant the 56th street side of the block. Solow would have to at least buy the air-rights from those buildings in order to build a tower rivaling 225w57. I don't think the existing parcels would be enough.

[NYguy]

Originally Posted by scalziand

Yeah, I meant the 56th street side of the block. Solow would have to at least buy the air-rights from those buildings in order to build a tower rivaling 225w57. I don't think the existing parcels would be enough.

I don't think you neccesarily have to go that high. Anything above 700 ft would offer unobstructed views over the park to the north.



http://www.earthinpictures.com/world/usa/new_york/9_west_57th_street.html


The Nordstrom tower, with its large store base would just be on a different scale.

[TechTalkGuy]

This is good news for us skyscraper fans, but not so good for Trump and his shorter towers.

[Yankee fan for life]

Dam ! still no render for this building ?

[NYguy]

Originally Posted by Yankee fan for life

Dam ! still no render for this building ?

This tower could be under construction before we get an actual rendering. That was the case with One57, Beekman, and a few others. But I do expect that Barnett will make the transition from excavation (once that begins) directly into construction. I don't think we'll have a pit to look at for long.

[JACKinBeantown]

Originally Posted by aquablue

That faceted tower proposed for Dubai by smith is outrageous. I love it.

I wouldn't mind a faceted and chiseled angular tower here, however I'm not holding my breath.

You mean like the one a block away?


archdaily

[NYguy]

While developers like Vornado talk about what's "impossible" to build at this time, Gary Barnett gets the "balls of the year" award for continuing to believe in the City. There's a lot of competition, but he wins because he could have rested on the success of One57.



http://observer.com/25th-anniversary/gary-barnett-president-extell-development/

Gary Barnett: President, Extell Development





By The Editors 3/13/13

Gary Barnett wants to build higher than any other New York real estate developer has before. In a shaky economy, Mr. Barnett is a fearless risk-taker, maintaining one of the most active real estate portfolios of the moment.

He founded Extell Development in 1989, following a diamond-dealing career in Belgium. With One57, his 57th Street residential skyscraper, slated for completion this year, Mr. Barnett is redefining luxury living for the ultra-rich in Manhattan. He’s making park views passé and bird’s-eye views of the entire metropolis the new norm, and he’s giving the middle finger to rival developers by selling out condos to the unfathomably wealthy before the units are even completed.

Mr. Barnett knows how to attract big business: he secured a deal last year with Nordstrom to build its first-ever Manhattan department store. To Mr. Barnett, there exists no recession, no limitations. His buildings keep visitors and residents in our fair city constantly looking up.

[hunser]

That's the spirit, Barnett is our man when it comes to skyscraper construction.

In a shaky economy, Mr. Barnett is a fearless risk-taker

The ecoomy might be shaky, but the residential market in New York is hot. So I wouldn't call him a risk-taker at all.

[TechTalkGuy]

So, this is the man (Gary Barnett) that's giving Donald Trump some serious real estate competition!

[Hamilton]

Donald Trump is practically irrelevant when it comes to NYC real estate. He's a (fading) media brand.

[NYguy]

Originally Posted by hunser

The ecoomy might be shaky, but the residential market in New York is hot. So I wouldn't call him a risk-taker at all.

The residential market in Manhattan is hot, but developers still have a hard time getting financing. But that doesn't stop Barnett, he gets the ball rolling, confident he will put together a financial package to get things done, as he has with One57. When construction started there (with no financing), things weren't as hot as they are now, so yes, he was a big risk taker, and he's been rewarded for it. Now, a lot of other developers are jumping on the bandwagon, as evidenced by the number of residential towers now proposed to go up around Midtown.

[TechTalkGuy]

Originally Posted by NYguy

The residential market in Manhattan is hot, but developers still have a hard time getting financing. But that doesn't stop Barnett, he gets the ball rolling, confident he will put together a financial package to get things done, as he has with One57. When construction started there (with no financing), things weren't as hot as they are now, so yes, he was a big risk taker, and he's been rewarded for it. Now, a lot of other developers are jumping on the bandwagon, as evidenced by the number of residential towers now proposed to go up around Midtown.

So what you are suggesting is that Gary Barnett is leading the way for other developers to follow.

[NYguy]

Originally Posted by TechTalkGuy

So what you are suggesting is that Gary Barnett is leading the way for other developers to follow.

And follow they are, just look at the explosion of new residential towers with views planned for the area.

[Sky88]

Originally Posted by NYguy

And follow they are, just look at the explosion of new residential towers with views planned for the area.

And you think that, after One57 and Nordstrom tower, Barnett can will build even more high towers in that area?

[TechTalkGuy]

Originally Posted by Sky88

And you think that, after One57 and Nordstrom tower, Barnett can will build even more high towers in that area?

There are so many opportunities in Manhattan, not just limited to Central Park that will surprise you!