NEW YORK | 574 5th Ave (Extell) | 567 FT | 32 FLOORS - Page 12

JMKeynes · #**221** Posted **Jan 20, 2022, 2:54 PM**

Quote:

Originally Posted by nlosborne1

Is there a crane on the site?

They haven't even finished demolishing the buildings on 47th. Also, Extell doesn't even know which proposal it will build at this point.

NYguy · #**222** Posted **Jan 20, 2022, 5:02 PM**

Quote:

Originally Posted by nlosborne1

Is there a crane on the site?

The approvals process hasn't started, though it should begin next month. Final approval should be in place by the end of the summer. Demolition is still underway (seen in the photos), but should be complete within a year.

And then:

Quote:

Assuming the city approves the tower, construction would begin in 2023 and last four and a half years before wrapping up in 2028.

Hudson11 · #**223** Posted **Jan 20, 2022, 5:09 PM**

I wish they would go with the residential/hotel supertall but I have a strong feeling Extell really wants an office building here. Plus Extell has two other hotel developments to build.

JMKeynes · #**224** Posted **Jan 20, 2022, 5:25 PM**

Quote:

Originally Posted by Hudson11

I wish they would go with the residential/hotel supertall but I have a strong feeling Extell really wants an office building here. Plus Extell has two other hotel developments to build.

But they need an anchor for an office building. Let’s if they get one.

chris08876 · #**225** Posted **Feb 11, 2022, 1:17 AM**

Per Matthew_Vansickle.

Looks like a reveal on the base.

Busy Bee · #**226** Posted **Feb 11, 2022, 1:46 AM**

I'm all about that

JMKeynes · #**227** Posted **Feb 11, 2022, 1:54 AM**

That looks like the office base. I hope that Extell builds the residential.

Busy Bee · #**228** Posted **Feb 11, 2022, 2:28 AM**

As long as the finishes are top of class I am perfectly fine with either.

JMKeynes · #**229** Posted **Feb 11, 2022, 2:45 AM**

Quote:

Originally Posted by Busy Bee

As long as the finishes are top of class I am perfectly fine with either.

It appears that the finishes of both will be very high-end, but I like this condo’s thinner appearance.

Both versions could use a few more setbacks, but this is particularly true with respect to the office tower IMO.

rgarri4 · #**230** Posted **Feb 11, 2022, 3:16 AM**

Are there any higher res renderings of the full tower? Or is this it for now?

chris08876 · #**231** Posted **Feb 11, 2022, 4:03 AM**

I haven't seen any higher res. I'd imagine with some AI upscaling though, the present renderings could look a lot better.

700x1200 pixels. Scale that up to say 4k.

But as this moves through the motions, high resolution and fresh renderings will arise.

NYguy · #**232** Posted **Feb 11, 2022, 4:05 PM**

Once approvals officially begins, we should get some better looks at it. But I’m also perfectly fine with either version. This will be a high quality addition, and not just another blue box.

NYguy · #**233** Posted **Feb 12, 2022, 1:03 AM**

FAA study for 1,069 ft at all 4 points. That's the highest the tower would be, so no study for the shorter, office tower.

https://oeaaa.faa.gov/oeaaa/external...060448&row=112

Quote:

Site Elevation: 68
Structure Height: 1069

NYguy · #**234** Posted **Feb 14, 2022, 3:56 PM**

• Video Link

JMKeynes · #**235** Posted **Feb 14, 2022, 4:05 PM**

So the office building only has 1.1m sf of space? If it's that small, I wonder why it can't be built on spec.

NYguy · #**236** Posted **Feb 14, 2022, 4:27 PM**

Quote:

Originally Posted by JMKeynes

So the office building only has 1.1m sf of space? If it's that small, I wonder why it can't be built on spec.

Developers don't usually build on spec. It's easier to get financing with signed tenants.

JMKeynes · #**237** Posted **Feb 14, 2022, 4:44 PM**

Quote:

Originally Posted by NYguy

Developers don't usually build on spec. It's easier to get financing with signed tenants.

I agree, but this is a small, boutique-type tower. 1m sf could fill up easily with small, upscale law firms, accounting firms, etc.

I hadn't realized how small it would be. I wonder if Rudin and BP are proceeding on spec with their Madison Ave projects which both seem to be around 1m sf.

NYguy · #**238** Posted **Feb 15, 2022, 2:33 AM**

Quote:

Originally Posted by JMKeynes

I agree, but this is a small, boutique-type tower. 1m sf could fill up easily with small, upscale law firms, accounting firms, etc.

I hadn't realized how small it would be. I wonder if Rudin and BP are proceeding on spec with their Madison Ave projects which both seem to be around 1m sf.

One million square feet is not considered a boutique tower, and this tower has pretty reasonably sized floors.

chris08876 · #**239** Posted **Feb 16, 2022, 7:44 PM**

Credit: Oppix56

JMKeynes · #**240** Posted **Feb 20, 2022, 10:45 PM**

This article seems to contradict what Extell presented to the Community Board recently.

https://nypost.com/2022/02/20/extell...stery-holdout/

Extell’s Fifth Avenue tower may have to build around mystery buyer’s holdout
By Steve Cuozzo
February 20, 2022