Extell nabs former Wellington Hotel with potential plans to build up
By Steve Cuozzo
December 26, 2022
Quote:
Towering change is in store at the northeast corner of Seventh Avenue and West 55th Street. Gary Barnett’s Extell is paying $94.4 million to buy the leasehold of the former Wellington Hotel from Richard Born’s BD Hotels, according to city Finance Department records.
The ambitious developer’s plans for the historic property one block south of Carnegie Hall were unknown. Barnett couldn’t immediately be reached.
But sources said that Extell’s move, when completed, will be just one of a complicated set of transactions with “many moving parts” that might include air rights for a much larger building than the 27-story Wellington, which has a mere 207,000 square feet on a 22,000 square-foot corner lot.
Quote:
It was understood that a new hotel will likely be part of any new tower and that Born will remain a partner in the project.
We first reported that the 1902-vintage Wellington was closing in December 2021 when a demolition clause forced restaurants Molyvos and Park Cafe to close. The hotel went dark but no plans have yet been filed with the Department of Buildings.
Extell’s completed Manhattan projects include One Manhattan Square on the Lower East Side, the International Gem Tower on West 47th Street and Central Park Tower on West 57th Street.
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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.
It certainly didn’t pop out of nowhere. These things take years of planning, as Extell has even shown with it’s latest projects.
This site is across the street from the Park Central, which at one time had its own supertall tower in the works. That may still happen eventually. But what tgese sites have in common (due to zoning and air rights transfers), would be unobstructed views of Central Park (minus a supertall or two).
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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.
I think that the Wellington is a beautiful building. If Extell builds anything less than a 1,000’+, stunning tower, I’ll be disappointed. I’d hate to see this replaced with The vanilla tower he plans for 46th and 5th.
I had heard rumors of this a few years ago. Extell has been working on this block for a few years, at least. These assemblages take time, and are often done in a confusing set of purchases, to keep the assemblage under wraps.
I bet we get another major Billionaire's Row residential tower. Hopefully a landmark supertall.
I had heard rumors of this a few years ago. Extell has been working on this block for a few years, at least. These assemblages take time, and are often done in a confusing set of purchases, to keep the assemblage under wraps.
I bet we get another major Billionaire's Row residential tower. Hopefully a landmark supertall.
I think the standard FAR transfer rules apply here, so only adjacent parcels, but right across the avenue we had renderings and a model floating around for a tall supertall envisioned for the Park Central hotel. They seem to have been purged from the internet.
aha, here we go.
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click here too see hunser's list of the many supertall skyscrapers of New York City!
Well it’s not a large site, and would hardly take up that block, even with assemblage. But seeing how it lines up, it’s the air rights that will line up to make this a tall tower to take advantage ofvthose Central Park views.
__________________ NEW YORK is Back!
“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.
I think the standard FAR transfer rules apply here, so only adjacent parcels
Don’t forget this is also in the theater transfer subdistrict. Extell recently transferred some theater air rights to their hotel/observation supertall currently under construction.
“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.
I think that this is not a good development. The Wellington is a very nice building. It’s also a small, mid block building that probably won’t yield a tower of more than 600’.
Well, you’re still missing the point. For one thing, it’s not midblock. And as we’ve already seen with these types of developments, it doesn’t require a large footprint.
__________________ NEW YORK is Back!
“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.
Don’t forget this is also in the theater transfer subdistrict. Extell recently transferred some theater air rights to their hotel/observation supertall currently under construction.
Ah, I did forget that. Another come and gone vision for a redevelopment was at the Manhattan at Times Square Hotel. So perhaps there's a lot to look forward to down the line.
__________________
click here too see hunser's list of the many supertall skyscrapers of New York City!
^ Yeah, there will always be new skyscrapers at various poibts of crossing from planning to reality. Most probably won’t make it, and we’ll likely never hear of many.
__________________ NEW YORK is Back!
“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.
Well, you’re still missing the point. For one thing, it’s not midblock. And as we’ve already seen with these types of developments, it doesn’t require a large footprint.
I didn’t realize that the Wellington included the corner building too.
But sources said that Extell’s move, when completed, will be just one of a complicated set of transactions with “many moving parts” that might include air rights for a much larger building than the 27-story Wellington, which has a mere 207,000 square feet on a 22,000 square-foot corner lot.
Even as is, without any additional air rights, they could build a slender supertall. One thing is certain, Extell will build when and where it can.
__________________ NEW YORK is Back!
“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.
“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.
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