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  #221  
Old Posted Sep 4, 2020, 3:01 PM
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  #222  
Old Posted Jan 31, 2021, 3:52 AM
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I’m so excited for great news on 2/2 that I started dreaming about the replacement of this POS with Foster’s amazing tower.

Gotham has a very bright future.
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  #223  
Old Posted Feb 23, 2021, 11:34 PM
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Anyone knows what happened to this skyscraper?
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  #224  
Old Posted Feb 23, 2021, 11:54 PM
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Long term play. One of many sites. It will rise when the time is right.
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  #225  
Old Posted Feb 24, 2021, 12:19 AM
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Anyone knows what happened to this skyscraper?
Nothing happened to it. It will get built when the buildings are demolished. The buildings will get demolished when the tenants move out. The tenants will move out when the new homes are complete.
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  #226  
Old Posted Feb 24, 2021, 4:56 AM
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Nothing happened to it. It will get built when the buildings are demolished. The buildings will get demolished when the tenants move out. The tenants will move out when the new homes are complete.
Not sure I follow. Please break it down more for me.
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  #227  
Old Posted Feb 24, 2021, 8:09 PM
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Not sure I follow. Please break it down more for me.
Lol.

Building come down. Building go up.
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  #228  
Old Posted Feb 25, 2021, 12:36 PM
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As the financial capital of the world, there’s a virtually endless cycle of demand for new space. Indeed, for those who falsely think that working from home is the new norm... It certainly isn’t for Wall Street’s banking powerhouses.

Bring on Black Rock!

https://www.bbc.com/news/business-56192048
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  #229  
Old Posted Feb 25, 2021, 2:09 PM
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^ Great article! Poor lil "Tom" who seems upset that his days of working 4 total hours while caring for his kids the other 4 are coming to an end. Sorry Tom, this is not Europe!
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  #230  
Old Posted Feb 25, 2021, 2:28 PM
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^ Great article! Poor lil "Tom" who seems upset that his days of working 4 total hours while caring for his kids the other 4 are coming to an end. Sorry Tom, this is not Europe!
Awesome!
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  #231  
Old Posted Feb 25, 2021, 5:19 PM
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  #232  
Old Posted Mar 12, 2021, 2:13 AM
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Looks like Blackstone could still be on track for a new headquarters in 2028...


https://www.bloomberg.com/news/artic...on-park-avenue

Blackstone Inks Deal to Expand Headquarters on Park Avenue



By Natalie Wong
March 11, 2021


Quote:
Blackstone Group Inc. has signed a lease to expand its headquarters in Manhattan, taking more space on Park Avenue as the firm recommits to staying in New York.


Blackstone will take an additional 80,000 square feet (7,432 square meters) at 345 Park Avenue, bringing its total at the property to about 720,000 square feet, according to a statement Thursday. The building, owned by the Rudin family, has been the New York-based firm’s headquarters for more than 30 years.

“The Rudins have been an outstanding partner for Blackstone since we first moved to 345 Park in 1987,” Jon Gray, Blackstone’s president, said in a statement. “We are also believers in New York City’s recovery and are pleased to be a part of it.”

With the recent expansion, Blackstone will now have 12 full floors and 5 partial floors at the building in midtown Manhattan. It also added a year to its lease, which now runs through 2028, according to the statement.


They've added a year to the current lease, so something is in the works.



https://commercialobserver.com/2021/...5-park-avenue/

Blackstone Group Takes Another 80K SF at 345 Park Avenue





BY NICHOLAS RIZZI
MARCH 11, 2021


Quote:
“This expansion marks a significant commitment by one of the financial industry’s leading firms and signals an important part of New York’s recovery,” Bill Rudin, CEO of Rudin Management Company, said in a statement. “We are thrilled that Blackstone has chosen to expand and extend our more than 30-year partnership, and we look forward to accommodating their office space needs for many years to come.”

“The Rudins’ have been an outstanding partner to Blackstone since we first moved to 345 Park in 1987,” Jon Gray, Blackstone’s president and chief operating officer, said in a statement. “We are thankful for their continued support of our rapid growth. We are also believers in New York City’s recovery and are pleased to be a part of it.”


The Rudin/Vornado developed 350 Park has the perfect timing for a move.
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  #233  
Old Posted Mar 12, 2021, 2:18 AM
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That’s huge news. 350 Park should be finished around that time. No one signs a 7 year lease. It’s also very promising that they signed in a Rudin building since he’s a likely partner with Vornado at 350 Park.

Further, the following quote is prescient because a 7 year renewal does not reflect Rudin’s sentiment. Instead it suggests at long-term plan at 350 Park.


“...Bill Rudin, CEO of Rudin Management Company, said in a statement. ‘We are thrilled that Blackstone has chosen to expand and extend our more than 30-year partnership, and we look forward to accommodating their office space needs for many years to come.’”

Last edited by JMKeynes; Mar 12, 2021 at 4:43 AM.
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  #234  
Old Posted Mar 12, 2021, 2:08 PM
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Wait, I'm confused, does that mean there is another skyscraper at 345 Park Ave or just 350 Park Ave???
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  #235  
Old Posted Mar 12, 2021, 2:18 PM
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Originally Posted by JMKeynes View Post
That’s huge news. 350 Park should be finished around that time. No one signs a 7 year lease. It’s also very promising that they signed in a Rudin building since he’s a likely partner with Vornado at 350 Park.

Further, the following quote is prescient because a 7 year renewal does not reflect Rudin’s sentiment. Instead it suggests at long-term plan at 350 Park.


“...Bill Rudin, CEO of Rudin Management Company, said in a statement. ‘We are thrilled that Blackstone has chosen to expand and extend our more than 30-year partnership, and we look forward to accommodating their office space needs for many years to come.’”

interesting and i applaud the totality of this logik -- is appropriately keynesian.
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  #236  
Old Posted Mar 12, 2021, 2:27 PM
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interesting and i applaud the totality of this logik -- is appropriately keynesian.
Indeed! There is no other way to interpret this. No one signs a 7 year lease.

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  #237  
Old Posted Mar 12, 2021, 2:49 PM
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Originally Posted by Raysiri View Post
Wait, I'm confused, does that mean there is another skyscraper at 345 Park Ave or just 350 Park Ave???
Yes, there is a skyscraper at 345 Park Avenue. 350 Park Avenue is the new skyscraper being developed across the street (in place of Vornado's 350 Park and Rudin's 40 E. 52nd).












Quote:
Originally Posted by JMKeynes View Post
Indeed! There is no other way to interpret this. No one signs a 7 year lease.

The most significant thing about the lease, (besides the expansion), is that it's only a 1 year extension. It lines up with 350 Park, that wouldn't be ready for occupancy until 2027-28.


Quote:
https://www.fool.com/earnings/call-t...-call-tra.aspx

Quote:
...new delivery wouldn't be until '27 or '28


Quote:
https://therealdeal.com/2020/07/29/b...-headquarters/

Blackstone eyes new 1M sf NYC headquarters
Financial giant has asked landlords to submit proposals for massive space





TRD New York
July 29, 2020


Quote:
Blackstone, headed by CEO Stephen Schwarzman and president Jon Gray, has asked a handful landlords to submit proposals for a new headquarters in Midtown and the Far West Side.

...Among the sites under consideration is a supertall office tower on Park Avenue proposed by Vornado Realty Trust and Rudin Management. The two have floated the idea of developing properties they separately own into a 1,450-foot-tall, 1.68 million-square-foot tower at 350 Park Avenue.

The project is particularly attractive to Blackstone, sources said, because the site sits catty-corner to the firm’s current headquarters at Rudin Management’s 345 Park Avenue. Between that location and another office at Boston Properties’ 601 Lexington Avenue, Blackstone occupies about 800,000 square feet on leases that expire in 2027.
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  #238  
Old Posted Mar 12, 2021, 3:51 PM
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I agree. It’s pretty clear that Blackstone will anchor 350 Park! This is superb news!!!
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  #239  
Old Posted Mar 12, 2021, 3:55 PM
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If this tower can be delivered before the redevelopment of Hotel Penn it's probably a done deal. I just wish Silverstein could snag Blackstone or some other large anchor for 2 WTC, but let's be happy for what we can get I suppose.
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  #240  
Old Posted Mar 12, 2021, 4:11 PM
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Originally Posted by JMKeynes View Post
I agree. It’s pretty clear that Blackstone will anchor 350 Park! This is superb news!!!
It's looking more and more like it. I can't think of any other towers of this size with completion dates around that time, and particularly with the landlords involved. Maybe 15 Penn, although that's strictly Vornado. Guess we'll have to wait and see, but that 1 year extension is key for me. If the previous lease expired in 2027, that extra year signals more time for something to be completed in 2028.


Quote:
Originally Posted by Hudson11 View Post
If this tower can be delivered before the redevelopment of Hotel Penn it's probably a done deal. I just wish Silverstein could snag Blackstone or some other large anchor for 2 WTC, but let's be happy for what we can get I suppose.
I think it was unlikely they would leave Park Avenue for Downtown, or even the west side, unless there were no options. JP Morgan Chase also looked Downtown and to the west side for a new headquarters, but just happened to be in a position to rebuild their own headquarters when terms didn't pan out.
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