will there be any complications between the construction of this building, or any building on second avenue, and the second avenue subway line...or is the second avenue line deep enough, as to not interfere with new building construction. i would guess just the prospect of a new subway line in that region, will entice massive construction projects in the future...
A planned 715-foot Manhattan skyscraper sidelined by the real-estate bust is poised for a resurrection.
A group led by New York-based World-Wide Group is in advanced talks with a group of investors and lenders to finance construction of a glassy condo and rental-apartment tower that would be one of the tallest buildings on Manhattan's East Side, according to multiple real-estate executives involved with discussions.
Under the deal being discussed, Starwood Property Trust Inc. would provide a roughly $450 million loan. There also would be an equity investment from the asset management arm of J.P. Morgan Chase & Co. and Rose Associates Inc., a firm controlled by members of New York's Rose family, those people said. The total cost of the tower couldn't be determined.
Should the deal for the tower at southwest corner of 57th Street and Second Avenue be completed, it would be the latest example of a project that's been able to emerge from hibernation thanks to New York's rebounding residential market.
Details on the tower have yet to be announced, although the developers have said they plan to start construction later this year. A building permit application filed in November calls for 270 units, and people involved in the deal said the apartments would be a mix of rental and condominium units, which would be located at the top.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
will there be any complications between the construction of this building, or any building on second avenue, and the second avenue subway line...or is the second avenue line deep enough, as to not interfere with new building construction. i would guess just the prospect of a new subway line in that region, will entice massive construction projects in the future...
The Second Ave Subway is being constructed with tunnel boring machines, so it will be pretty deep and this sort of construction won't affect it. The phase below 63rd street (phase III) has not been funded yet. Currently phase I is scheduled to be completed in 2016.
The limiting factor for construction in this area of midtown isn't subway access, it's zoning restrictions.
What a lame box. SLCE is the new architect now (instead of SOM).
From great design to a filler. Developer is probably thinking... why spend more money on architecture if all the units in the tower will be sold out anyway.
This is a huge shock, i thought this tower was set in stone....How sad, NYC has lost a gem.
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Buildings Over 200 Meters 62 Completed 20 Under Construction 50 Proposed 0 On Hold
l'm not shocked at all. unfortunately the minute that school was complete l knew that they would value engineer it. look how disappointing that building turned out to be.
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