NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,581 FT | 92 FLOORS

[NYguy]

Originally Posted by Zapatan

This...



So many of the projects around the country are getting downsized / cancelled or just fade away and lie dormant.

Well there you go. It's why we focus on projects where they are. This is New York City, east Midtown, where there is a shortage of new commercial space, and the newest, most expensive office space fills up. It's what we've been watching.

[HyperPower]

Now that the debbie downers & rabble rousers whom wish we still lived and preserved our ancient mud huts are gone we can focus on the massing of this behemoth

Old rendering design but we get the trifecta of the new giants amassed together

[NYguy]

One of the things I’ve been thinking about this tower is the change that occured right when it was approved. But it seems clearer now that this was more on the part of the developer than the city. Here it is again.

[Xing Lin]

Originally Posted by HyperPower

Now that the debbie downers & rabble rousers whom wish we still lived and preserved our ancient mud huts are gone we can focus on the massing of this behemoth

Old rendering design but we get the trifecta of the new giants amassed together

With the current designs -- this tower will be an amazing addition to Midtown East

Originally Posted by NYguy

One of the things I’ve been thinking about this tower is the change that occured right when it was approved. But it seems clearer now that this was more on the part of the developer than the city. Here it is again.

I agree -- I had always assumed that the 'height cut' was just a matter of amending the zoning envelope height to conform with the actual proposed design.

[NYguy]

Originally Posted by Xing Lin

I agree -- I had always assumed that the 'height cut' was just a matter of amending the zoning envelope height to conform with the actual proposed design.

Right. As the process went on, the design was refined more. Of course, it wouldn't have mattered unless the tower was actually higher the the original proposed height.

[ChiND]

https://www.longislandpress.com/2023/08/21/rxr-august-2023/

What are your plans for the Grand Central Terminal and Grand Central Madison area?

Around Grand Central is where we have most of our buildings. We have a project planned where the existing Hyatt hotel is. We would demolish the Hyatt hotel and build what would be the tallest office building in the western hemisphere at 175 Park Avenue. With an anticipated height of 1,575 feet and encompassing over 2.8 million square feet, when built, 175 Park is planned to be one of the healthiest, most sustainable office buildings in New York City. It would have a hotel on top and an office building at the base. It’d be over Grand Central. We’d invest over $350 million in expanding the Grand Central Terminal and connectivity to the Long Island Rail Road. We have demand from large companies that want to be there. It’s such a great location.

[NYguy]

With an anticipated height of 1,575 feet and encompassing over 2.8 million square feet, when built, 175 Park is planned to be one of the healthiest, most sustainable office buildings in New York City………We have demand from large companies that want to be there. It’s such a great location.

Best location.

[rgarri4]

From my 3D model:

[NYguy]

Amazing how “small” the ESB looks with all of the new towers.

[Zerton]

I wonder what would happen if a similarly sized tower went up directly north or south of the ESB.

[pianowizard]

Originally Posted by rgarri4

From my 3D model:

What height did you use in this model? Using One Vandy (1,401 ft) as a reference, Grand Hyatt looks shorter than 1,575 ft especially in the first image.

[Zapatan]

Originally Posted by pianowizard

What height did you use in this model? Using One Vandy (1,401 ft) as a reference, Grand Hyatt looks shorter than 1,575 ft especially in the first image.

It may be because a 1,486' figure leaked a while ago but I think that was just the main roof under the crown as we saw in a diagram way back in the thread. Hopefully it was just poor reporting.

1,575' is just the site's height limit, it could very well end up shorter but as long as it's noticeably taller than Vanderbilt and Chase I just want it built (ideally this decade).

Hope groundbreaking still happens next year for the love of god. The US needs another 400+ meter tower U/C when Chase wraps up.

[NYguy]

https://brunch.co.kr/@mastern/48

[NYguy]

Rechler speaks about 175 Park (8:10)


• Video Link

[NYguy]

https://therealdeal.com/new-york/2023/10/11/rxrs-175-park-avenue-showroom-set-up-at-one-vanderbilt/

Rechler brings prospects to One Vandy to help lease planned office tower
RXR’s showroom marketing 175 Park Avenue’s 2 MSF of office





By Rich Bockmann
Oct 11, 2023

New York’s next skyline-defining office tower is tapping the city’s other brand new skyscraper to help woo prospective tenants.

Scott Rechler’s RXR is running a leasing gallery for its planned 1,575-foot high Project Commodore supertall (aka 175 Park Avenue) from a spot one block over and 61 stories up in the air inside SL Green’s One Vanderbilt.

One Vandy has established itself as the darling of the city’s corporate tastemakers — the ne plus ultra of the “flight to quality” office. And Rechler’s project, which has a mirror location across the other side of Grand Central Terminal, no doubt wants to play off that cachet: One Vanderbilt is sold out, but you can get in now on its heir apparent.

”This is a great validation for the fact that companies want high-quality space,” Rechler told The Real Deal last year in reference to One Vanderbilt’s success. SL Green’s tower — now 99 percent full — set a new pricing record when it leased a space on the 73rd floor last year to a Canadian-based environmental services company for more than $300 per square foot.

RXR and its leasing team have been bringing prospective anchor tenants through the showroom, though the names of the companies are one of the office sector’s most tight-lipped secrets. The developer and its partner, the Elghanyan family’s TF Cornerstone, have shown space to tenants who represent about 15 million square feet of office demand, a source close to the marketing process said.

A JLL team led by Peter Riguardi is handling leasing for the 83-story project’s 2.1 million square feet of office.

A few people who have visited the leasing center described it as an impressive showpiece with commanding views of Manhattan and overlooking the 175 Park site, as well as a large video screen depicting the tower’s future construction and integration to the transit station.

RXR had originally planned to get an anchor tenant and construction financing by the end of this year, though the team now acknowledges that may get pushed into 2024.

… The carbon-neutral building will have the tallest office floor and hotel room in the Western hemisphere.

[Zapatan]

RXR had originally planned to get an anchor tenant and construction financing by the end of this year, though the team now acknowledges that may get pushed into 2024.

Man I hope they find someone, let's get this baby started!

… The carbon-neutral building will have the tallest office floor and hotel room in the Western hemisphere.

Aren't the hotel floors on top?

Sears Tower's highest office floor is about 1,280' so maybe they overlooked that one.

[BanBrokenChatBots]

Originally Posted by Zapatan

Man I hope they find someone, let's get this baby started!

This iron giant shall rise in due time!

[NYguy]

Originally Posted by Zapatan

Aren't the hotel floors on top?

Sears Tower's highest office floor is about 1,280' so maybe they overlooked that one.

Depends on what the final layout is. There could be a couple of trophy office floors located above.

For example, this old graphic (not the current plan), has a mixture of office and hotel on the upper and lower floors, most likely meaning it could go either way. But we haven't seen current plans, beyond the basics of the hotel being at the top of the tower.

[ChiND]

I wasn’t sure if this would rise due to interest rates and the high cost of construction right now. It seems like the developer is intent on building this though. That’s surprising, but it’s good news.

[NYguy]

Originally Posted by ChiND

I wasn’t sure if this would rise due to interest rates and the high cost of construction right now. It seems like the developer is intent on building this though. That’s surprising, but it’s good news.

It will only be built because of demand.