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

[JMKeynes]

Was this a presentation to the City/Community Board? If so, can you post the link.

[Busy Bee]

Interesting that they don't seem to be planning on wrapping around 276 Fifth like those massing diagrams suggested.

[NYguy]

Originally Posted by Busy Bee

Interesting that they don't seem to be planning on wrapping around 276 Fifth like those massing diagrams suggested.

They are. It was discussed. But the corner building is for sure staying.



• Video Link

[Busy Bee]

^ What I mean is the tower itself appears to be rectangular, not the L-shape stretching to the streetwall of 47th St as shown in the massing diagram. Obviously the base of the tower is L-shaped and wrapping around 276. I know 276 is staying, thank goodness.

[MAC123]

Would prefer the residential, I think the design looks just slightly better, not by much but just slightly. (Also another supertall in the crown.)

[JMKeynes]

Originally Posted by MAC123

Would prefer the residential, I think the design looks just slightly better, not by much but just slightly. (Also another supertall in the crown.)

I agree. The residential has a slimmer profile, which I like.

[NYguy]

Those earlier screenshots are horrible, here's a better look...



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The Fifth Avenue rendering appears to have contemplated building on the full block of 5th...


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[JMKeynes]

Either iteration is a huge improvement over this filthy crap. I celebrated when the disgusting souvenir shop in the mock-Tudor finally closed.

[Busy Bee]

I'll take either one. I'm not sure I have a preference, though I wish the base on the mixed use version matched the height of 276 Fifth.

[NYguy]

Gary Barnett says he really sees the site as the location of a trophy office tower, and that's hard to disagree with. It' a prime location. They're backing it up with the option of the residential tower, which Extell also does well. It's exciting either way to get this new tower on 5th Avenue. The design itself looks to be a good one, and I love the vertical elements. Also, it's looking like Midtown east will be the home of the "golden" towers, unlike the blue towers of Hudson Yards.

[Manitopiaaa]

Both designs are very beautiful, though I'm partial to the supertall because it's, er, a supertall.

[MAC123]

Originally Posted by Manitopiaaa

Both designs are very beautiful, though I'm partial to the supertall because it's, er, a supertall.

lol, guilty as well. Though I do like the design as well. Not a masterpiece or anything groundbreaking, but it's handsome.
We'll have to see though. They're pushing for the office, and I don't see any reason why they wouldn't get it.

[BuildThemTaller]

So it appears the design is not final and there are two options with similar massing. Did I get that right?

[Busy Bee]

Yesh

[JMKeynes]

It's interesting (and not surprising) that Extell requires an anchor tenant to proceed. With all of the new buildings rising or planned (e.g., 343 Madison, 415 Madison, 417 Park, 123 W 57th, 3 Hudson, 175 Park, 2 WTC, etc.), there’s a lot of competition for tenants. Personally, I'd prefer the residential tower.

Also, I didn't watch the whole thing, but I heard repeated references to Rolex. Is Rolex also building improvements to the 5th Avenue subway station for its new project?

[NYguy]

When you listen to Barnett talk about this tower, it's clear he wants the office tower. But I don't doubt for a second that he'll switch it up if the leasing isn't going the way he thinks it should. They plan to break ground next year. Approvals should be in place by September. We aren't in official approvals yet, the last meeting was more informal. I think they'll begin next month.



JANUARY 7, 2022

[JMKeynes]

I don’t see Gary getting a big enough tenant to pre-lease enough space to anchor a 1.5m sf tower with relatively small floor plates. I hope that the residential/hotel rises here.

[NYguy]

Originally Posted by JMKeynes

I don’t see Gary getting a big enough tenant to pre-lease enough space to anchor a 1.5m sf tower with relatively small floor plates. I hope that the residential/hotel rises here.

I think the size of the office floors here are pretty robust. It’s the rare 5th Avenue headquarters location. Harry Macklowe tries to capitalize of just being in proximity to 5th Avenue. But still, Extell is known for residential and hotel development. I could see either rising here.

[Raysiri]

Wait, so why Macklowe is holding on Tower Fifth and not getting a chance to build it anyway? Is it really approved by City Council or they just abandoned it?

[NYguy]

^ That’s been explained in its thread.