Quote:
Originally Posted by WonderlandPark
this one seems to be languishing. lots of talk, no prep or concrete.
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The opposite is true. 111 is likely, by far, the fastest moving project on 57th Street.
111 W.57 was announced just a few months ago, and already approvals, financing and demolition.
432 Park was initially announced as an office project back in 2003 or so, then the site wasn't demolished until 2007 or so, then construction didn't begin until 2012.
The Nordstrom Tower and One57 sites basically took 10 years from land acquisition to development.
250 East 57th Street was announced around 10 years ago, and yet construction just began a few months ago.
But worst of all is the Durst site at 57th & 6th. This site was demolished for a tower in the late 1990's, and yet still hasn't broken ground, supposedly because they're still negotiating for additional buildings and air rights. 52 W. 57, due to location and air rights, could be the most impressive yet if Durst can pull it off.
To be fair, Durst didn't acquire 52 W. 57 until relatively recently, so the delays aren't really his fault.