NEW YORK | 125 Greenwich Street | 912 FT | 70 FLOORS

[NYguy]

Originally Posted by Michael12374

Well, that certainly changes this conversation. I bet they are considering building something taller then 1WTC (roof height), but I still doubt that he will build anything taller the 1200 feet.

Doesn't change much. We know he can build tall, and will likely build taller than what was planned here. I just hope it's a great design.

Also, remember there was approval given that resulted in a shorter tower. They could always have built it taller.

Under the current zoning, the developers could build an 85-story tower rising more than 1,000 feet, but they would prefer to construct a shorter, wider tower that would better “fit into the context of the neighborhood," make for more spacious apartments and not obstruct the nearby 1,776-foot One World Trade Center, said Alex Adams, a Fisher Brothers project executive.

The zoning variance would allow Fisher Brothers to reduce the required setback of the building — the space between the edge of the property and the street — from 20 feet to about 10 to 13 feet, allowing them to make a wider building.

[Michael12374]

Originally Posted by NYguy

Doesn't change much. We know he can build tall, and will likely build taller than what was planned here. I just hope it's a great design.

Also, remember there was approval given that resulted in a shorter tower. They could always have built it taller.

The way she worded her tweet though.... She makes it seem like 1WTC is just the start and the building her husband is planning will be of equal if not bigger. Also, the picture of lower manhattan's skyline probably means that the skyline will change dramatically with the building. Maybe I am just reading into it too much, but it will be exciting to see what happens here in the future.

[NYguy]

Originally Posted by Michael12374

The way she worded her tweet though.... She makes it seem like 1WTC is just the start and the building her husband is planning will be of equal if not bigger. Also, the picture of lower manhattan's skyline probably means that the skyline will change dramatically with the building. Maybe I am just reading into it too much, but it will be exciting to see what happens here in the future.

I think you are. I'm sure they are excited about the possibilities of what's to come, and the chance to put a signature tower on the skyline. Keep in mind that the tower is already very thin, and a taller tower will be a lot thinner. It's all a matter of design if they expect something great.

[NYguy]

http://therealdeal.com/blog/2014/08/29/shvo-closes-on-125-greenwich-condo-project-valued-at-240m/

Shvo closes on 125 Greenwich condo project valued at $240M

August 29, 2014
By Adam Pincus

Developer Michael Shvo partnered with an array of local and global investors to arrange $240 million of equity and debt for the acquisition and development of a site at 125 Greenwich Street where he plans to build a soaring condominium tower. The complex deal closed today.

Shvo brought on David Bizzi’s firm Bizzi & Partners as co-developer, and obtained additional equity from Howard Lorber’s investment company New Valley as well as an unidentified Chinese public company. The total equity investment for the Lower Manhattan project is approximately $70 million.

A Singapore bank along with an Indian private equity firm provided $170 million in debt, sources told The Real Deal.

A partnership of Fisher Brothers and the Witkoff Group sold the site to Shvo for $185 million, slightly higher than the price previously reported. That deal was brokered by HFF’s Andrew Scandalios and Jeff Julien.

Howard Michaels’ Carlton Group brokered the debt and equity financing. Michaels and Shvo declined to comment.

Where Fisher and Witkoff planned to build a 956-foot tall rental tower with 359,130 square feet, Shvo is planning to take that same building size but stretch it taller, sources told TRD. One insider explained that as a condo tower, the ceiling heights would be taller, thus increasing the overall height on the site that has no height restriction.

The site is at the corner of Greenwich and Thames streets. Lower Manhattan is undergoing a long-anticipated transformation from a mostly financial office district to a residential, retail and tourist neighborhood, as well.

The site is three blocks south of the World Trade Center site. As just one sign of the changes, retail-focused investor Thor Equities paid $31 million for three retail condo units across the street at 120 Greenwich Avenue.

Shvo in partnership with Victor Homes recently broke ground on the so-called Getty gas station parcel at 239 10th Avenue in Chelsea; and construction is expected to begin early next year on the largest residential project in Soho, at 100 Varick Street, where his partners are Erez Itzhaki, Halpern Real Estate Ventures, Bizzi & Partners and Aronov Development.

[Perklol]

I think rentals with some affordable housing would have been better for this neighborhood that lacks nightlife and for the city too. Don't get me wrong, I want supertalls as well but not when it's 95% vacant. Leave that to 57th street until the next cycle.

[NYguy]

Originally Posted by Eveningsong

I think rentals with some affordable housing would have been better for this neighborhood that lacks nightlife and for the city too. Don't get me wrong, I want supertalls as well but not when it's 95% vacant. Leave that to 57th street until the next cycle.

Who says it will be 95% vacant??? Even the towers on 57th St wont be that.

If you have concerns about reidential development Downtown, look around. 56 Leonard and 30 Park are but a few. Downtown has a lot of new amenities coming, even just a hop away at the WTC and Brookfield Place. Does it have the best "nightlife"? No. Hardly a concern of people who will buy these units. You speak as if this tower was being planned in the farthest reaches of Queens.

Anyway, I think we could be looking at a minimum 1,100 -1,150 ft.

[Perklol]

^ True, different markets? Also I don't think 400 full time residents would help untangle the mess of tourist clogged streets anyway. Oh well hopefully it is 1150' to rival the heights of the trade center towers.

[Crawford]

I hope Shvo takes these ceiling heights to ridiculous levels.

The towers with the crazy ceiling heights are generally hugely successful, so if the numbers pencil out, I expect something 1200 ft+.

[scalziand]

I think we can expect something similar to the Steinway Tower here, as it has roughly the same amount of air rights.

[JayPro]

If they can either recycle the India Tower Mumbai design as is or commission Dame Zada Hadid to be the architect of record...
Well...
Let's just say that should either possibility unfurl in the Divine roll of the bones, I'd better be on guard against a mouth full of a hot beverage anywhere near my old venerable laptop.

[Crawford]

Originally Posted by JayPro

Zada Hadid to be the architect of record...

A Zaha Hadid supertall in Lower Manhattan of all places would be fantastic.

We'll just have to see what the Shvoster has planned for this site. And we're still awaiting specifics on Shvo's 57th Street tower, though NY YIMBY has hinted at floor count/building height.

[sparkling]

I pass by the site every day on my way to work so when/if construction begins I will keep you posted on the progress. I have to admit that Shvo has surprised me so far. I have viewed him with skepticism since he came back, the type of flamboyant big mouth who arrives to big fanfare just to fade as quickly but he seems to be moving forward with his grandiose plans. I am watching with great interest how all this will end.

[miesian]

Originally Posted by JayPro

If they can either recycle the India Tower Mumbai design as is or commission Dame Zada Hadid to be the architect of record...
Well...
Let's just say that should either possibility unfurl in the Divine roll of the bones, I'd better be on guard against a mouth full of a hot beverage anywhere near my old venerable laptop.

Oh. Please God, no.....Never use Hadid and Supertall in the same sentence....promise me!

[JayPro]

Well...having seen some of her more radical proposals, allow me to recast that to some of DZH's...shall we say...less amorphous entries.

[SkyscrapersOfNewYork]

Originally Posted by JayPro

Well...having seen some of her more radical proposals, allow me to recast that to some of DZH's...shall we say...less amorphous entries.

you know something...i can smell it...

[JayPro]

Believe me I have less than zero knowledge of anything about this.

Matter of fact, a year and a half ago someone could've invoked Michael Shvo's name in idle conversation, and I would've looked at that person the same way someone's dog looks at its owner just after the water bowl gets changed...

I still am not sold on what he has to offer in terms of what we see rising skyward. He'd better have a few good starchitects in his mobile device's addy book...........

[Perklol]

http://www.yimbynews.com/2014/09/reveale...eet-rivaling-one-world-trade-center.html

Revealed: 125 Greenwich Street to Stand 1,356 Feet, Rivaling One World Trade Center

YIMBY has the reveal for 125 Greenwich Street, which will become Downtown’s tallest residential skyscraper; a tipster close to the development passed along images and schematics confirming the tower’s significant growth spurt, and it will stand 1,356 feet tall. The project was formerly known as 22 Thames, but traded hands earlier this year, when Michael Shvo and Bizzi & Partners purchased the site for $185 million; the deal closed last week, signaling that plans are close to moving forward

[Crawford]

1356 ft., eh?

Yeah, I'll take that height.

The biggest change to the skyline in upcoming years will be a new normal of skinny supertalls wherever zoning allows. 432 Park will not be an exception; it will be fairly common for extreme high end construction.

[Downburst]

Oh my goodness. If this glass is as high-quality and seamless- and I expect it to be, knowing Shvo- then this will really be something.

I was briefly disappointed at seeing this was a flat-topped "box", but I quickly realized that it doesn't have to be anything else. This shape defers to the WTC while still adding another big exclamation mark to the area. I think that's good.

[Submariner]

While the height is nice, it's just a box, and it's not a box the same way 432 is...it's just a glass box. I hope they take a hint from say, 111W 57th street.

Either way, it's good to see more development downtown.