NEW YORK | 343 Madison Avenue | 844 FT | 49 FLOORS

[aquablue]

del

[Steely Dan]

^ my post was directed at babybackribs, not you.

that's why i quoted him in my post.

[aquablue]

Originally Posted by Steely Dan

^ my post was directed at babybackribs, not you.

that's why i quoted him in my post.

LOL. Sorry, what an idiot I am!

[sbarn]

This kinda makes me sad... THIS is a beautiful pre-war building.

[RobertWalpole]

It is sad. Nevertheless, its fate is sealed.

As far as the height goes, this tower should be at least 300m tall. This is a very narrow site. Consider that Madison in the low 40s is bisected by Vanderbilt, and therefore, the sites are very narrow. Moreover, two old office buildings sit behind the MTA's HQ on the Vanderbilt side. This very small parcel likely will have a small boutique office component (e.g., 250-300k sf) that will be geared to hedge funds, PE/VC firms, etc. There also likely will be a five-star hotel and very expensive condos.

Can someone post the Google Maps aerial view of the site?

[scalziand]

It's a prime, albeit small site less than a block from Grand Central.



I wouldn't be surprised if the Yale Club gets wrapped up in this somehow too.

[THE BIG APPLE]

Well looks like the view from the Top of the Rock looking SE (and East in general) will change in a few miniscule years.

The Yale Club can't get demolished, cause it's landmarked. BUT they could use air rights if not already used.

[Crawford]

Yeah, I would imagine the Yale Club will sell their air rights.

[RobertWalpole]

There are millions of sf of air rights available from GCT. However, this foot print is so small that even a 1m sf tower would exceed 300m. With small site, up is the only way to go!

[NYguy]

Keep in mind that the City is studying an "upzoning" of the area...
http://forum.skyscraperpage.com/showthread.php?t=197082

[THE BIG APPLE]

Now only of some of those 'millions' of sq ft from GCT went to the site we know today as 383 Madison Ave, back in 1989. With a site this small 1msf can be at least 700-800 ft, since it is office, and the usual 1msf office buildings are 500 ft tall. This building would benefit with some residential components.

[Arawooho]

Originally Posted by THE BIG APPLE

Now only of some of those 'millions' of sq ft from GCT went to the site we know today as 383 Madison Ave, back in 1989. With a site this small 1msf can be at least 700-800 ft, since it is office, and the usual 1msf office buildings are 500 ft tall. This building would benefit with some residential components.

That seems reasonable enough.

[RobertWalpole]

Originally Posted by THE BIG APPLE

Now only of some of those 'millions' of sq ft from GCT went to the site we know today as 383 Madison Ave, back in 1989. With a site this small 1msf can be at least 700-800 ft, since it is office, and the usual 1msf office buildings are 500 ft tall. This building would benefit with some residential components.

1m sf would be taller than that. This is a very small site.

[THE BIG APPLE]

^ Yeah I know Rob, that's why at a max I think It'll be atleast 1,100 ft. A minimum of 700-800 ft, for such a small footprint.

[RobertWalpole]

I agree.

[reencharles]

Originally Posted by NYguy

Keep in mind that the City is studying an "upzoning" of the area...
http://forum.skyscraperpage.com/showthread.php?t=197082

This was the first thing I thought when I read this topic. Apparently the rezoning is in progress.

[RobertWalpole]

http://ny.curbed.com/archives/2012/0...l_terminal.php

Fun With Urban Planning
Bloomberg Pushing for Rezoning Near Grand Central Terminal
Monday, April 16, 2012, by Sara Polsky
Share on email0As Mayor Bloomberg's third term draws to a close, the administration is pushing for a rezoning of the Grand Central neighborhood while it still has the chance. The rezoning would encompass the area between Fifth and Third avenues and East 39th and East 59th streets. It "would be a linchpin of [Bloomberg's] legacy," one unnamed business official tells the Daily News, and it would also have significant implications for Grand Central-area development. Such as?

If the rezoning went through as Bloomberg imagines, it would allow area developers to build up to the height of the Chrysler Building, which one city zoning expert says would make buildings around Grand Central an average of 20 percent to 30 percent larger. A city planning spokesperson says only that the administration is considering the plan now and that it will take a few months to finalize. In the meantime, fantasy renderings of a taller Midtown welcomed to the Curbed inbox.

[NYguy]

http://therealdeal.com/blog/2013/06/...son-avenue-hq/

MTA seeks developer to demolish, rebuild Madison Avenue HQ
Site could support development of up to 600,000 square feet





June 25, 2013
By Katherine Clarke

The Metropolitan Transportation Authority has put out a request for proposals from developers for a 99-year leasehold interest in a parcel of three properties at 341-347 Madison Avenue, one of which currently serves as the city agency’s headquarters.

Under the terms of the net lease, a developer would demolish the existing structures at the site and redevelop the property within 12 months following the demolition, according to the RFP on the MTA’s website. Commercial brokerage Cushman & Wakefield is marketing the opportunity as the MTA’s exclusive agent, according to the document.

The RFP comes more than two years after the MTA first hinted that it might look to sell or lease the site in the face of financial pressures. A sale of the site, which could be developed into a sizable modern skyscraper, could net the agency more than $150 million, as previously reported.

The RFP did not disclose what price it would be asking for the leasehold.

The full block-front site, between East 44th and East 45th streets, has 200 feet of frontage on Madison Avenue, and its zoning permits a variety of uses. The property will be home to the headquarters of the MTA through 2014 but will likely be delivered to the prospective lessee vacant aside from the retail components, which are home to several tenants operating under terminable leases.

Under current zoning restrictions, a developer could build up to 376,575 square feet on the site on an as-of-right basis. If the developer were to make improvements to the subway station network (likely to the forthcoming Long Island Rail Road concourse connection) and acquire transferable development rights from a third party, he or she could increase the as-of-right square footage to 542,268 square feet, the documents say.

In addition, the site falls within the area of Mayor Michael Bloomberg’s proposed rezoning of Midtown East, which, if it passes, would allow the developer to create a building with up to 602,520 square feet without a special permit.

The RFP calls the site “one of the best unencumbered development sites to come onto the New York City market in many years.”

Under the terms of the agreement with the MTA, the developer would pay monthly fixed-base rent payments, subject to scheduled increases of at least 10 percent every five years and base rent adjustments every 30 years.

A spokesperson for Cushman said the firm could not comment further to the information contained in the RFP. The first of round proposals is due August 14.

[antinimby]

I hate the MTA.

Seriously, why replace this great looking Pre-war building with more than likely another glass box, which we have way too much of already and which is pretty much what is being built everywhere nowadays?

Just sell the damn air rights. Stupid MTA. Stupid city.

[NYguy]

Originally Posted by antinimby

why replace this great looking Pre-war building with more than likely another glass box, which we have way too much of already and which is pretty much what is being built everywhere nowadays?

Why replace a "great" looking building? My guess is because buildings aren't just there to be seen. It's the year 2013, not 1913. But beyond the fact that I don't buy into the "glass boxes everywhere" argument (it's actually these older buildings that are everywhere in Manhattan), we don't even know what would be built in it's place. I do know that according to city plans, for someone to use all of the available air rights here, they would have to use high quality architecture - the design would have to be approved.