NEW YORK | 10 West 57th Street | 672 FT | 52 FLOORS

[Busy Bee]

That guy on the left looks like Ronald Reagan, Richard Nixon and Ralph Nader put together. Maybe a little bit of the one armed man from The Fugitive too.

[chris08876]

If done right, that 80 million will yield a substantial ROI given the location. 220 CPS and CPT as a case study. The potential is there.

[NYguy]

AUGUST 11, 2023

[ChiND]

It’s interesting that Soloviev never mentions this project in interviews. His father planned one of the most banal towers on one of the most valuable sites in the world. Hopefully, Soloviev plans something iconic here or sells the site to a developer who will build something iconic. This site deserves nothing less.

https://therealdeal.com/new-york/202...on-north-fork/

[Crawford]

Yes, given the very boring design, I hope they sell to a new developer. This site deserves an iconic supertall.

[ChiND]

I find it inconceivable that Soloviev will waste one of the most valuable sites in the world with a mundane tower that would be a disappointment on 6th Avenue and 27th St.

A RAMSA tower would be a blockbuster success on this site.

https://www.newyorkyimby.com/2024/07...manhattan.html

The Crown Building’s condos are still selling for over $10k/sf.

https://therealdeal.com/new-york/202...e-for-10k-psf/


Aman New York snags its first resale — for $10K psf
Unit 23A at Vlad Doronin’s luxury hotel condo conversion closed for $64M

Also, as per the “magisterial” NYP, $100m+ sales are expected to rise:

https://nypost.com/2024/07/31/real-e...ouble-in-2024/

[NYguy]

AUGUST 11, 2024

[ChiND]

He never mentions this site in interviews. I genuinely hope that he partners with another developer and does not build that hideous box that his father planned.

[ChiND]

I walked by this site the other day and thought that it would be amazing if instead of the lame design proposed by Solow, his son makes his mark and develops a 1,600’ iconic tower. This location warrants an icon.

[chris08876]

20 years ago this would of been big for the area. It's honestly untapped potential considering anything on 57th street is a guaranteed sold out building in a yeapr

[ChiND]

Originally Posted by chris08876

20 years ago this would of been big for the area. It's honestly untapped potential considering anything on 57th street is a guaranteed sold out building in a yeapr

Especially steps off of Fifth. This is a hyper-premium site.

[giantSwan]

really? this garbage proposal for killing beautiful existing inventory and a prime site....wtf

[ChiND]

I really hope that Soloviev does not waste the chance of a lifetime to develop an icon on one of the best sites in the world. It would be a travesty per se if he builds the hideous black box that his father had proposed. There clearly is very robust demand for high-end units.

https://www.cityrealty.com/nyc/marke...ds-buyer/64404

NYC Contracts: Over half a billion in contracts includes $62M in deals signed at 255 East 77; Power couple's Park Avenue penthouse finds a buyer
Oct 8, 2024
By CityRealty Staff
From Great Listings

[Crawford]

Big news - Gary Barnett just purchased 24 West 57th Street.

This means one of two things - Barnett plans a major Billionaire's Row tower just to the west of the Solow assemblage, or Barnett plans on pressuring Solow to sell, so that Extell can build a large tower with the two combined assemblages.

https://therealdeal.com/new-york/202...efan-soloviev/

It's paywalled, but here's the relevant exerpt:

Gary Barnett is back to doing Gary Barnett things on Billionaires’ Row.

The chessmaster of Manhattan development has positioned himself to gain control of a prime site on West 57th Street right next to a big assemblage owned by rival Stefan Soloviev, sources told The Real Deal.

Barnett’s Extell Development recently acquired the $50 million defaulted loan on APF Properties’ block-through plot of land at 24 West 57th Street, giving him a path to foreclose on the site and take control.

On its own, the property is a sizable site that has the potential for more than 140,000 buildable square feet. But it also sits next to a four-piece assemblage at 6-20 West 57th Street that Soloviev’s company has been stitching together since the 1980s at a cost of more than $300 million.

It’s not exactly clear what Barnett has planned. But given his track record of covert dealmaking, it hints at the possibility of a grander strategy.

[ChiND]

That's great news. Hopefully, he will partner with Soloviev and build an iconic tower. I hope that they acquire 30 W 57th too, and 23 W 56th, the utterly dilapidated little building where Tina's is located.

I'd like to see at least 1,600 feet here.

[NYguy]

Originally Posted by Crawford

Big news - Gary Barnett just purchased 24 West 57th Street.

This means one of two things - Barnett plans a major Billionaire's Row tower just to the west of the Solow assemblage, or Barnett plans on pressuring Solow to sell, so that Extell can build a large tower with the two combined assemblages.

https://therealdeal.com/new-york/202...efan-soloviev/

On its own, the property is a sizable site that has the potential for more than 140,000 buildable square feet. But it also sits next to a four-piece assemblage at 6-20 West 57th Street that Soloviev’s company has been stitching together since the 1980s at a cost of more than $300 million.

It’s not exactly clear what Barnett has planned. But given his track record of covert dealmaking, it hints at the possibility of a grander strategy.

Extell had been busy, recently taking on 655 Madison. It’s unclear if this latest purchase will affect Solo’s plan though.

Soloviev said he had no interest in buying 24 West 57th Street.

“I have enough square footage to do what I want there so I don’t need that building,” the developer said.

Soloviev declined to specify his plans for the assemblage. A spokesperson for Extell declined to comment.

We shall see.

[ChiND]

Based on Soloviev’s comments, it appears that he’s not partnering with Extell. I pray that he does not build that hideous box that his father had planned. Fortunately, it seems that he’s not building that execrable eyesore, which is apropos for Tartarus.

As for Extell, it seems that it would need to acquire 30 W 57th too in order to expand its footprint.

[Crawford]

Soloviev hasn't built anything since he took over from his dad. And he has very odd passions. I don't think he's focused on development like his dad. He has 11 kids and lives out in the Hamptons, and is always talking about agricultural passions.

I suspect someone else is gonna end up developing 10 W. 57, whether Extell or someone else. Maybe it will be two major towers on the south side of the block, but I don't think Solviev will be one of the developers.

I really dislike the current Soloviev design, so would be fine if he eventually sells, even if Extell goes it alone on the adjacent assemblage. Two slim towers would generally be better than one fat tower.

[ChiND]

Originally Posted by Crawford

Soloviev hasn't built anything since he took over from his dad. And he has very odd passions. I don't think he's focused on development like his dad. He has 11 kids and lives out in the Hamptons, and is always talking about agricultural passions.

I suspect someone else is gonna end up developing 10 W. 57, whether Extell or someone else. Maybe it will be two major towers on the south side of the block, but I don't think Solviev will be one of the developers.

I really dislike the current Soloviev design, so would be fine if he eventually sells, even if Extell goes it alone on the adjacent assemblage. Two slim towers would generally be better than one fat tower.

I agree, and for the same reasons, I think that he’ll partner with someone else. This site is VASTLY superior to the insanely successful 220 CPS. To waste this site on the crap design that his father had proposed would be an utterly colossal waste.

[bdurk]

https://www.architecturaldigest.com/...rk-foster-gage

BUILD IT