NEW YORK | 350 Park Avenue | 1,600 FT | 62 FLOORS

[JMKeynes]

This is going to be absolutely spectacular!

[Busy Bee]

If the owners of the Madison Av buildings knew what was good for them they'd be crawling to Vornado looking for a sale. Im not sure they're ever going to get a bigger cash out sale. I know I know Vornado has shown no public sign they are interested or find it necessary to build this trophy tower, but honestly I don't know how you wouldn't be if you were in their position. It's got to be one of the last potential full block sites in all of Midtown. It's big enough to host a twin towered project with a single base. How a prestige office developer couldn't be salivating over at least that opportunity...

[NYguy]

Originally Posted by Busy Bee

If the owners of the Madison Av buildings knew what was good for them they'd be crawling to Vornado looking for a sale. Im not sure they're ever going to get a bigger cash out sale. I know I know Vornado has shown no public sign they are interested or find it necessary to build this trophy tower, but honestly I don't know how you wouldn't be if you were in their position. It's got to be one of the last full block sites in all of Midtown. How a prestige office developer couldn't be salivating over at least that opportunity...

They may have tried, unsuccessfully. Real Estate assemblage is a long game in the city.

[artspook]

The pics of this 70 story (1450ft) 350 Park Ave Tower are
really fine . . as good as it gets . . best tower on Park . .
Here’s hoping . .

[NYguy]

https://therealdeal.com/2022/12/18/d...ultuous-times/

Development still has a pulse during tumultuous times
Less-than-ideal market conditions is slowing, but not stopping developers





Dec. 18, 2022
By Ted Glanzer

In the December issue of the magazine, we asked the question “Who’s crazy enough to build office?”

It’s a fair question in light of numerous companies reducing their office footprints because of the rise of remote work, reduced headcount due to layoffs and increasing construction costs. Meta, for example, recently announced it is spending $3 billion to consolidate office space.

But in the case of 175 Park Avenue, Developers RXR and TF Cornerstone count themselves among the crazy — or the astute — and they remain confident they’ll fill 2.1 million square feet of office space when the building is completed.

And no sooner did we ask that question than another joint venture — this time between Vornado Realty Trust, Rudin Management and Citadel — announced last week a deal to construct a 1.7-million-square-foot Midtown East supertall at the combined site of 39 East 51st Street, 350 Park Avenue and 40 East 52nd Street.

Bill Rudin, the chief executive, predicted in November that companies that are shedding office space now will reverse course when the economy recovers. Rudin Management is also demolishing the 24-story building at 415 Madison Avenue to make way for a 40 story, 342,000-square-foot office tower.

[JMKeynes]

God bless you, Mr. Griffen!

I look forward to Citadel's Christmas present to NY when 350 Park starts in a few years.

https://www.wsj.com/articles/citadel...ts-11671578290

[chris08876]

Originally Posted by JMKeynes

God bless you, Mr. Griffen!

I look forward to Citadel's Christmas present to NY when 350 Park starts in a few years.

https://www.wsj.com/articles/citadel...ts-11671578290

Are you able to post the whole thing? Damn paywall.

[JMKeynes]

Originally Posted by chris08876

Are you able to post the whole thing? Damn paywall.

I only read the headline, but apparently, Citadel had a huge year! Thus, they’re well-poised to build a palace in NY.

[chris08876]

That's great to hear. Might explain their capital expenditures in NY and Miami. Investing for the future and skyline!

Literally building golden citadels!

The greats; Vornado, SL Green Realty, Extell, and soon to be Citadel.

A Merry Christmas to you sir!

[JMKeynes]

Originally Posted by chris08876

That's great to hear. Might explain their capital expenditures in NY and Miami. Investing for the future and skyline!

Literally building golden citadels!

The greats; Vornado, SL Green Realty, Extell, and soon to be Citadel.

A Merry Christmas to you sir!

Thanks, Chris. The future is always bright in NYC where the Greatest City in the World gets better and better!

Merry Christmas to you too, my good man!

[NYguy]

A walk down Park Avenue, and a look at the development area...


DECEMBER 26, 2022


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Some of the old guard that will be neighbors...


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[rgarri4]

Crazy how good the Lever House still looks today. It may not be tall but it really was ahead of its time.

[The New York Lion]

The Racquet and Tennis Club is so magnificent. Thanks for posting, NYguy.

[NYguy]

The Lever House itself is currently undergoing it's own renovation. My favorite on Park Avenue is still the Seagram Building. Both buildings still look good, and helped make Park Avenue into what we know today.

[JMKeynes]

Originally Posted by The New York Lion

The Racquet and Tennis Club is so magnificent. Thanks for posting, NYguy.

I agree.

[The New York Lion]

I would love to see the Colgate-Palmolive building redeveloped into a soaring limestone condo for the masters of Park Avenue.

[JMKeynes]

Originally Posted by The New York Lion

I would love to see the Colgate-Palmolive building redeveloped into a soaring limestone condo for the masters of Park Avenue.

That will happen in about 20 years. CPO recently renewed their lease for 15 or 20 years.

There are a number of buildings on this stretch of Park that are not too tall that are prime for development.

[wpolom]

Originally Posted by NYguy

The Lever House itself is currently undergoing it's own renovation. My favorite on Park Avenue is still the Seagram Building. Both buildings still look good, and helped make Park Avenue into what we know today.

The Seagram Building it's a masterpiece.

[The New York Lion]

Originally Posted by wpolom

The Seagram Building it's a masterpiece.

I concur. It is the perfect postwar NY skyscraper.

I think NY needs more black glass, like Solow's new residential building at 1st Avenue.

Something about black glass just looks mean and foreboding. Like the lair of Batman or something.

I love Hancock and Sears in Chicago.

I think Blackstone or Citadel would be the perfect tenants for a soaring 1,500 foot landmark clad in piercing black glass.

[Busy Bee]

Seagram is New York's high modern Miesian darkness at its finest.