NEW YORK | 175 Park Avenue (Grand Hyatt) | 1,575 FT | 86 FLOORS

[NYguy]

Originally Posted by SkyHigher

I could see a 1500ft+ 200 Amsterdam Avenue like design here. That way it doesn't fully block views of the CB from the west.....

*Oh and an outside observation deck at the top

I see something with a great crown, exceeding One Vanderbilt. I have really high expectations here. So much to work with and consider. So many details beyond just height. This could be one of the greats, not just a very tall tower. If a deck was placed here, consider the opportunity for a triple-ticket experience (Vanderbilt, Chrysler, and this one). Each deck would be of varying heights and experience, with Chrysler being the lowest, and Vandy midway.

[SkyHigher]

Well it's got either side of it two of New York's top icons! It HAS to be very special indeed.

I just hope the color and look of the facade in part is old school. Just as long as it isn't another blue glass tower......

[NYguy]

Originally Posted by SkyHigher

Well it's got either side of it two of New York's top icons! It HAS to be very special indeed.

I just hope the color and look of the facade in part is old school. Just as long as it isn't another blue glass tower......

I don’t think they would dare propose that. They're looking to copy Vanderbilt's success, so I'm expecting some very high ceilings, and quality facade.

[SkyHigher]

Yeh the effort is there with Vanderbilt to fit in rather just do another blue glass building. That bodes well.

[NYguy]

To me, with 270, Vanderbilt, and all of the other towers planned above the rails, we are see the rebuilding of the modern Terminal City.

[NYguy]

Some context to the area (watch in full screen)...


• Video Link

[NYguy]

MAY 26, 2020

[SkyHigher]

Is it normal not to even have some sort of design at this point?

[NYguy]

Originally Posted by SkyHigher

Is it normal not to even have some sort of design at this point?

I think they are working through zoning issues, big implications on whether city or state zoning. The tower itself is not supposed to be under construction for maybe three years. We’ll probably hear more details about what’s being built, including scale, before we get a rendering. And even then, the details could change. I’d just be happy to get the process started at this point.

[Zapatan]

Originally Posted by NYguy

I think they are working through zoning issues, big implications on whether city or state zoning. The tower itself is not supposed to be under construction for maybe three years. We’ll probably hear more details about what’s being built, including scale, before we get a rendering. And even then, the details could change. I’d just be happy to get the process started at this point.

If it's gonna be three years until construction I really hope they go all out, will I be disappointed if I expect something around 500 meters?

[Sky88]

TF Cornerstone and RXR Realty for the tower will they be able to go beyond 2 million of SF?

[chris08876]

Best to wait until the zoning and land parameters are resolved. We'll get an idea once plans are released. Given the cost of the parcel, and the location, we should expect its max potential. The nice thing is that 3 years is enough time for any market corrections to occur, and from a risk perspective, good to wait until some of the saturation had matured. A lot of space is coming online, and always good to wait. Better to have all the ducks in a row so whatever rises here goes undeterred or without issue.

[chris08876]

Originally Posted by Zapatan

If it's gonna be three years until construction I really hope they go all out, will I be disappointed if I expect something around 500 meters?

I think they will reap the max potential, but this site is also massive. Not a skinny parcel by any means. Depends how they design it. I mean they could sacrifice height for pure functionality space, if height is an issue from the perspective of running lean or maximizing the budget without adding anything extra that really won't be needed. Either way, an 800 or 1200 ft tower, both will have a large foot print and a lot of space in theory. Its going to be a phat tower, thick, hopefully juicy.

Would be nice if they make a statement though. Ego in general life can be toxic, egotistical people are very toxic, but when it comes to skyscrapers, ego all the way for us urban loving crack fiends. Skyscraper Wars are always good lol.

[NYguy]

Originally Posted by Zapatan

If it's gonna be three years until construction I really hope they go all out, will I be disappointed if I expect something around 500 meters?

Originally Posted by Sky88

TF Cornerstone and RXR Realty for the tower will they be able to go beyond 2 million of SF?

It will all come together in the approvals. If it's a state approval, in theory they could go larger. But would they even want to is the question. This would be a mixed-use tower, but minus the hotel and retail probably about the same amoubt of office as Vandy. As far as design, don't expect anything boxy like the Hudson Yards. It's a site surrounded on all sides by official landmarks, so a lot will go heavily into approval. Also expect that they will want to maximize rents. So expect something spectacular with high ceilings, higher even as you go up, like Vanderbilt. I expect we will see something at least higher than Vanderbilt.

[NYguy]

https://therealdeal.com/2020/06/09/c...gh-a-pandemic/


TRD New York
June 09, 2020

RXR Realty, which is planning a $3 billion office tower near Grand Central with TF Cornerstone and MSD Capital, has continued discussions that started before the pandemic with tenants in the technology and finance sectors who are interested in anchoring the property, CEO Scott Rechler said. The project isn’t expected to be delivered until 2026.

.....More than ever, planners should be thinking about how to build out other regions with access to mass transit, Rechler said.

“We need to densify where density belongs,” he said. “Sprawling is not the outcome you want to have.”

Good to see this still on track.

[NYguy]

https://www.thecity.nyc/2020/7/12/21...ty-coronavirus

NYC Developers Push to Jump-Start Public Review of Key Construction Projects





BY GREG DAVIDG
JUL 12, 2020

Twenty-four proposals in pre-review with city planners are frozen. Projects awaiting certification for public scrutiny range from an ambitious rezoning of the Gowanus Canal area in Brooklyn to a sprawling mixed-use development encompassing the Queens waterfront site once coveted by Amazon.

Left in limbo are all the players in the six-month review process known as the Uniform Land Use Review Procedure, or ULURP, during which developers make their pitches and the public weighs in before the City Council and the mayor get the final say.

“It is critical to the city to get going on ULURP,” said Mitch Korbey, chair of the land use and zoning group at New York-based law firm Herrick, Feinstein. “Doing so will demonstrate the city is in recovery and moving ahead on development.”

City officials publicly agree with the real estate interests.

Vicki Been, deputy mayor for housing and economic development, said during a recent webinar sponsored by the Real Estate Board of New York and the law firm Greenberg Traurig that restarting ULURP was important and that she expected it would begin again in “the early fall.” She wouldn’t be more specific when a REBNY representative pressed for a precise date.

Been cited the technological challenges of the ULURP process, which requires action by the Department of City Planning to certify the project. That’s followed by a public review with recommendations by the local community board and the borough president, a vote by the City Planning Commission and then, in most cases, an up-or-down vote by the City Council — all within six months.

Critics note that both the Landmarks Preservation Commission and the Board of Standards and Appeals have resumed work, and the City Council is holding online hearings.

The second major project involves tearing down Donald Trump’s original claim to real estate fame, the Grand Hyatt at Grand Central, and replacing it with a smaller Hyatt hotel, modern Class A office space and a major retail component at a likely cost of $3 billion.

The project is in what is called a scoping process, but developers hope it will be certified for ULURP next year and approved before de Blasio leaves office. The deal is expected to pay for critical subway upgrades at Grand Central and create open space and wider sidewalks.

“In the context of the COVID-19 pandemic, we hope that this project will demonstrate the continued viability of office space in Manhattan designed for the post-COVID era,” said Jake Elghanayan, principal at TF Cornerstone, which is teaming with RXR on the plan. “It will deliver on the promise of the East Midtown rezoning and will strengthen the city’s central business district.”

[JMKeynes]

The financial capital of the world continues to shine!

[chris08876]

I have a feeling that we will see a big boom once the economy recovers after this pandemic is over.

There is a big air of uncertainty at the moment, folks being reserved and holding off, but I feel like big moves will be made 2021 if not 2022.

There has been a general slow down, with the time being used to plot the future from a development standpoint. Snatching up parcels, the legal framework, doing all the soft cost related tasks.

These parcels/blocks; Grand Hyatt, 417 Park, 415 Madison, Penn Station Districts... are the future.

On a side note, I feel like NYC will weather this storm better than others.

[NYguy]

Grand Hyatt welcomes Vanderbilt...


https://twitter.com/GrandHyattNYC/st...51019829538818

Congratulations to our neighbor @one_vanderbilt on their grand opening! Can you spot our building?

[NYguy]

And so, things are in motion. This mysterious development, for the sake of this process, is currently known as "Project Commodore". The Commodore Hotel (as it was originally known), is what became the Grand Hyatt.