NEW YORK | 70 Pine St (American International) | 952 FT / 290 M | 66 FLOORS | 1932 - Page 2

Dac150 · #21 Posted **May 20, 2009, 4:18 PM**

I'm a box fan, so for me the above shot of Lower Manhattan is its best form, though many would disagree with me. However I do appreciate those older photographs and the days when 70 Pine and 40 Wall were the ones who set the standards for the skyscraper. Nothing beats those days, well except for maybe having 55 Water smack in the scene.

NYguy · #22 Posted **May 21, 2009, 3:04 AM**

Quote:

Originally Posted by CGII

It sure is, I think it's just as awe-inspiring, but in a completely different way.

The above pic looks like it was taken around Carroll Gardens or so, here's a similar view from Sunset Park from March:

That's a great comparison. I just hate 55 Water Street. It may be the largest skyscraper in New York, but even with that distinction, and its prominent location, most New Yorkers wouldn't know what it was. To me it looks like a giant refrigerator. The new WTC will help. Lower Manhattan needs more spikes.

Busy Bee · #23 Posted **May 21, 2009, 3:14 AM**

Wow that B&W! You don't get much better than that.

NYguy · #24 Posted **May 24, 2009, 12:37 PM**

Another skyline comparison to that b&w shot...

cerdsp

Zerton · #25 Posted **May 24, 2009, 9:17 PM**

I think when 1wtc is done the skyline will look great again. It's just a little flat right now.

NYguy · #26 Posted **May 25, 2009, 4:18 AM**

The Freedom Tower is just one of several, larger, bulky towers planned or under construction Downtown. What they lack in "elegance" they will make up in height. The result will be a skyline even more dense than the latest pic shown above. It should be something to see...

Upward · #27 Posted **May 25, 2009, 8:09 AM**

Too bad the photo of the model isn't from the same angle as the ones above. This will probably be the best angle for the new WTC. The angle on the model there emphasizes the size of the towers, but they'll integrate into the skyline arguably better than the twins in that view from Brooklyn. That is, if they can manage to get more than just #1 built...

NYguy · #28 Posted **May 27, 2009, 11:54 PM**

nightswimmer

NYguy · #29 Posted **May 31, 2009, 12:10 PM**

michaelaion

Teakwood · #30 Posted **Jun 3, 2009, 1:16 PM**

Does anyone know to whom or for how much this beauty sold for yesterday?

Dac150 · #31 Posted **Jun 3, 2009, 7:07 PM**

I wasn't aware it was for sale, but I would venture to say that it jumped the 1 billion dollar mark.

ethereal_reality · #32 Posted **Jun 3, 2009, 7:20 PM**

A 100 million dollars......if that's possible.

http://wonkette.com/408920/former-ai...-a-square-foot

It's a snarky blog though...and they have the wrong photo.

Dac150 · #33 Posted **Jun 3, 2009, 7:37 PM**

That can't be right, was the deed being sold at a flea market.......

Pretty insane if true though.

Teakwood · #34 Posted **Jun 3, 2009, 10:52 PM**

ugh.... 100 million won't go very far to pay the government back 100 billion. I'd also imagine that if this is to remain office space, this sale will reduce the need for office space in Lower Manhattan as well. This issue is a lot deeper than the Sears Tower situation in my opinion. While a name change wouldn't necessarily bother me, and I doubt we will see any physical changes to the building, this IS our money. This WAS our building.

Dac150 · #35 Posted **Jun 3, 2009, 10:58 PM**

Well the days of both 70 Pine and 40 Wall (among others) remaining as office buildings are limited. I know if Trump had it his way a few years back, 40 Wall would already be a residential building.

To me this building has served its purpose as an office building for modern day standards, but at the same time can Lower Manhattan really afford to lose another office tower, even one that's not quite up to par.

In terms of the name, I could really care less to see 'American International Bldg.' leave. I've always called it either 70 Pine or the City Services Bldg. So no real loss there.

Teakwood · #36 Posted **Jun 3, 2009, 11:08 PM**

I agree, a name change would mean nothing to me. If someone wishes to convert this to condos, that would be alright with me. They certainly got a great deal on the building if that is indeed the sale price. I would hate to see additional available office space in Lower Manhattan stand in the way of the completion of the WTC. I would believe that at $100 a square foot, whomever purchased this doesn't need to rush to fill up office space for it to be a great deal for them.

Dac150 · #37 Posted **Jun 3, 2009, 11:44 PM**

Well that is a good point you've brought up that went right by me. Perhaps the loss of some older office space to luxury condos can prompt the creation of new office space, regardless will eventually be needed no matter what route the new owners of 70 Pine take.

However at the same time you have a large portion of 55 Water Street hanging around waiting, among other spaces in the area. While not a new building it is the largest in the city.

A company like AIG will obviously not need as much space as they once occupied in Manhattan, plus to my knowledge divisions of them moved into the Continental Center not too long ago which is right down the street.

The fact remains that the market is dry right now, but as stressed will return in the not so distant future. With that said will 70 Pine be on the top of companies lists as a place to call home, probably not. That's not to say though it can't squeeze out one or two more generations of lease terms. Again, all to be determined by the new owners. Either way its days or years as an office building are probably numbered.

NYguy · #38 Posted **Jun 4, 2009, 4:32 AM**

http://www.bloomberg.com/apps/news?p...WDc&refer=home

Quote:

The buyers of the Manhattan buildings, which have a total of 1.05 million square feet, may convert them into offices, apartments or hotel rooms, he said. The buildings are connected by a skywalk.

AIG will continue to occupy 70 Pine St. until the end of 2010, the people said. The company plans to move employees into its offices at 180 Maiden Lane, the people said.

The 66-story Pine Street headquarters was completed in 1932 and has about 775,000 square feet, according to Emporis.com, a property database. At 952 feet (290 meters), the tower is New York’s fifth-tallest building, Emporis said. The Wall Street building is 16 stories and has about 279,000 square feet, according to MrOfficespace.com.

CGII · #39 Posted **Jun 4, 2009, 6:22 AM**

Quote:

Originally Posted by Dac150

I wasn't aware it was for sale, but I would venture to say that it jumped the 1 billion dollar mark.

Oh dear, definately not. AIG considered selling the building about a year ago, when the downtown residential conversion market was imperceptibly strong, and even then it would've fetched 'only' around $700 mil.

Dac150 · #40 Posted **Jun 4, 2009, 4:19 PM**

Oh well, good deal for the buyer then.