NEW YORK | 125 Greenwich Street | 912 FT | 70 FLOORS

[chris08876]

Company has invested over $200M in US developments so far

TRD’s analysis of the filings shows that the firm had investments in more than 20 U.S. real estate projects, including 11 in New York and one in Los Angeles. Those deals were all made between 2011 and 2016, records show.

Vector’s largest investments are done in partnership with Lorber’s longtime pal Steve Witkoff. Vector has invested almost $16 million in Witkoff’s 10 Madison Square West; $17.38 million in 701 Seventh Avenue; $25.7 million in 111 Murray Street; $27.7 million in the Park Lane Hotel; and $19.3 million in the Edition West Hollywood in L.A.

“There’s only upside to having Howard as a partner,” Witkoff said. “He is one of my closest personal friends, not just a guy who wrote a check.” Witkoff added that he and Lorber typically put in equal amounts of capital into deals, and that Lorber’s control of Elliman gives the developers a better sense of how to price product and a better understanding of sales velocity.

The company also plowed significant equity into projects headed by Ziel Feldman’s HFZ Capital Group, including a $17 million investment into 76 Eleventh Avenue, HFZ’s mammoth condo project in West Chelsea; $13.5 million into a Tribeca condo project at 11 Beach Street; and $3.3 million into the Marquand at 11 East 68th Street.

Vector also has $8 million in 125 Greenwich Street, Bizzi & Partners’ condo project in the Financial District. The partners are looking to close on a construction loan from United Overseas Bank of Singapore, said to be in the range of $500 million.

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https://therealdeal.com/2017/06/01/h...up-is-backing/

[jayden]

Is this tower still below grade?

It's been well over a year since the began foundation work, no?

[NYguy]

https://therealdeal.com/2017/07/10/b...125-greenwich/

Bizzi, New Valley finalizing $450M loan for 125 Greenwich

By Will Parker and Hiten Samtani
July 10, 2017

Though the loan for 125 Greenwich was initially supposed to be north of $500 million, the developers took cost-cutting measures such as contracting with an open-shop construction company, sources said. The supertall Financial District condo, designed by Rafael Vinoly, will hold 275 apartments when completed, with a total projected sellout of $875 million, according to its offering plan.


In addition to the new construction loan, the developers have raised another $194 million from foreign EB-5 visa investors, according to sources familiar with the matter.

[chris08876]

Checked the latest zoning diagram (as of 2017/06/14).

[chris08876]

NEW YORK | 125 Greenwich Street | 912 FT | 72 FLOORS

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125 Greenwich Street Gets New Renderings, Will Rise 912 Feet

Downtown’s condominium boom has so far resulted in several near-supertall towers, with 56 Leonard and 30 Park Place both topping-out in the past few years. Further south, 45 Broad Street promises to become the Financial District’s first legitimate residential supertall, while plans at 125 Greenwich Street have also been advancing. The latter site had previously been anticipated to rise almost 1,400 feet, but after the departure of Michael Shvo from the development team, plans have taken several major turns. Now, Bizzi & Partners has released renderings and filed plans revealing the final design, which will top out 912 feet above the streets below.

The changes to the project are not too significant, and represent relatively moderate revisions to the previous iteration. The actual roof of the residential portion will reach 840 feet above street level, but the concrete core will extend over 70 feet above that, providing the top of the building with an attractive crown. While that means the project will technically fall short of supertall status, it will still rank between 30 Park Place and 56 Leonard on the scale of Downtown’s tallest residential towers.

Design-wise, the appearance of the tower has definitely improved, at least in the renderings. Rounded corners will give the body of the building a look resembling 50 West Street, but breaks in the massing and 125 Greenwich’s concrete crown will ensure the two projects are very visually distinctive.

Beyond the changes to 125 Greenwich, the latest rendering also includes 133 Greenwich Street, which was recently completed across the street. That site holds a Courtyard Marriott Hotel that rises 30 stories and has 317 rooms.

With 72 floors in all, ceiling heights at 125 Greenwich will be generous but not palatial. The latest building applications show that 273 units will split approximately 350,000 square feet of residential space, for an average size of almost 1,300 square feet.

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NYY

[gramsjdg]

Some minor design improvement/refinement, though the height reduction is a disappointment.

Coincidentally, 912 feet is the original design height for 30 Park Place...

[Busy Bee]

I want to like it buuuuuuuuuuuuuuutt just can't.

[jayden]

It's not...bad.

[Zapatan]

This like the purgatory of buildings. It's not great nor does it really suck that much.

Whatever... nice addition

[NYguy]

Still don't like it much, but we're getting 45 Broad, which I do like.


Still looks the same...

[ILNY]

125 Greenwitch St by NyConstructionPhoto, on Flickr



125 Greenwitch St by NyConstructionPhoto, on Flickr



125 Greenwitch St by NyConstructionPhoto, on Flickr

[Submariner]

Awful.

Just copy 30PP and call it a day.

[UTEPman]

Since when does extending a concrete core above the main building constitute as an "attractive crown"??

[citybooster]

I would actually prefer the old 45 Broad Street one to this. That concrete core going up to the top looks terrible. Not a good design, and not improved.

[Prezrezc]

I actuall prefer this to the previous form.

It's crisper with its lessened exterior treatment and, quite honestly, a refreshing change from what could be be deemed by some (i.e. me) as a heavyhanded approach to PoMo design.

PS: This is Sr. Viñoly wer're dealing with here. Like him or not, a minimalist approach with unpredictable deviation therefrom is what we should've expected since day one.

[chris08876]

Its a breath of fresh air for the area at least. Its not 5 Beekman or Kaufman's 265 Broadway which is 56 Leonard after getting hit by a MTA bus...

... on Easter Sunday!

It has a good aspect ratio, and tone to it. Good height, location is nice, and its not overly dramatic with the design where there is a lot of noise aesthetically. Minimal can sometimes be good. Something too noisy would kinda detract from the surrounding new towers.

[jayden]

I guess looking east from Jersey it will somewhat compliment 4WTC...

[chris08876]

Credit: Thomas_Koloski

[chris08876]

Credit: Ben Jacobson

[mrnyc]

that is an epic photo. too bad the design of this is such an epic failure. the architects should be made to go out back and bring in a switch from the willow tree. maybe that density will keep it hidden from view.