NEW YORK | 145 East 60th St | 1,240 FT | FLOORS

[Crawford]

Originally Posted by quantj

Scalziand: that's also a hypothetical model for a project Macklowe is building at the corner of Second Avenue and 59th. It's said to be fairly tall.

Interesting. I didn't know Macklowe was planning a tower on Second Avenue. So he has at least two new towers planned for the Upper East Side, following completion of 432 Park.

[NYguy]

Originally Posted by Crawford

Yeah, but that Cityrealty image isn't based on anything. It's just a placeholder based on news reports. We have no idea of height, design, or anything.

That's why I said "a potential tower". It's meant to show a large tower massing on site.

Originally Posted by quantj

Hi guys. I'm the creator of these models and I appreciate all your commentary. These threads have been a supreme resource in helping me keep the models updated for ongoing projects, the models are based on the building diagrams and drawings submitted by the developers to the city. But as you all know, there are many projects with unreleased designs so I left placeholders at those sites.

Scalziand: that's also a hypothetical model for a project Macklowe is building at the corner of Second Avenue and 59th. It's said to be fairly tall. Also, the World-Wide tower at the corner of 60th and Lexington is also a hypothetical massing model (just approximated at around 800') and there's another massing volume in the foreground at 1059 Third Avenue which is around 500' tall. I'll accurately replace them all once a rendering is uncovered.

I have most of the Hudson Yards and Downtown towers done and can't wait to share those with you soon.

Sorry if the models are not 100% accurate like the developer's renders, but I don't have access to the full building plans, often all I have are zoning diagrams showing general massing, overall building height and the official released render(s), so that makes it pretty tricky to get it perfect. But for an overall view of NYC, I think it's a pretty decent model of the city.

They are fantastic renders, and really give us an idea of the scale of changes coming to Manhattan and beyond.

[JR Ewing]

Awesome news, lads. WW was not up to par to develop this site's potential. Hopefully, the buyer will get the corner site on Lex.

http://therealdeal.com/blog/2015/06/...on-the-market/

[chris08876]

Those extra air rights will help. A thin ultra-luxury tower seems reasonable. 900-1000' approximately with a serious developer.

But even then, it could go higher.

Wheres Barnett when you need him.

[aquablue]

I'm actually glad Barnett won't be developing this tower. His designs are so far rather uninspired. Nordstrom, a rather missed opportunity to develop something beautiful in a prime viewing location, has made me want to see less of him.

[Vertical_Gotham]

Kuafu to buy UES development site for north of $300M
http://therealdeal.com/blog/2015/06/...north-of-300m/

Kuafu Properties is in contract to pay north of $300 million for six contiguous Upper East Side properties on a site that would accommodate a large residential development, The Real Deal has learned.

Earlier this month, World Wide Group put the group of largely mixed-use, low-rise buildings at 143-161 East 60th Street, between Lexington and Third avenues, on the market. The site, located across the street from the Bloomingdale’s flagship, offers over 280,000 buildable square feet above grade. The buildings sit on a roughly 20,000 square-foot-lot.

Kuafu, a New York-based Chinese development firm, entered contract for about $1,100 per square foot last week, according to sources familiar with the deal. Although sources said Kuafu will likely build condominiums, its plans are unclear, as it couldn’t be reached for comment.

A Cushman & Wakefield team led by Bob Knakal, Helen Hwang and Clint Olsen marketed the site as a possible redevelopment into a condominium tower that would rise as high as 1,000 feet and contain a retail component.

The Cushman brokers and World Wide Group were not immediately available for comment.

The five-story building at 143 East 60th Street was best known for housing the iconic dive bar Subway Inn until it shuttered late last year.

World Wide Group, a Midtown East-based development firm founded by Victor Elmaleh and now led by James Stanton, acquired the properties over a nine-year period starting in 2005, records show. The biggest single-building buy was the $37 million deal last year for the 11-story commercial property at 155-161 East 60th Street.

Then, last year, the firm paid $8.9 million for the buildings’ collective development rights.

Kuafu is developing Hudson Rise, a proposed Hudson Yards condo-hotel, but is in the midst of a legal dispute with its former business partner Siras Development.

Kids, Only in New York. Only in New York that a property for $300m is taken off the market in 1 week.

[sparkling]

DELETE: VG posted it a minute before me.

[JR Ewing]

Originally Posted by Vertical_Gotham

Kuafu to buy UES development site for north of $300M
http://therealdeal.com/blog/2015/06/...north-of-300m/






Kids, Only in New York. Only in New York that a property for $300m is taken off the market in 1 week.

I agree, VG.

This is the Age of Ramses!

I hope that Kaufu gets the property on Lex.

[Hypothalamus]

Originally Posted by JR Ewing

I hope that Kaufu gets the property on Lex.

Agreed

[Vertical_Gotham]

I Agree fellas. That building would be an eyesore if it's not razed. Go get It Kaufu!

[chris08876]

What it will replace:




Credit: Jeremiah Budin

Originally Posted by JR Ewing

I agree, VG.

This is the Age of Ramses!

I hope that Kaufu gets the property on Lex.

You got me saying now. Again, this is the Age of Ramses! (Holds up beer while saying it)

marketed the site as a possible redevelopment into a condominium tower that would rise as high as 1,000 feet and contain a retail component.

So many mid rise towers now. For NYC, this is a mid rise!

[Vertical_Gotham]

I wonder if this was the site, WWG had tapped Cetra Ruddy to design this site. Could have this been that mysterious "Upper East Side" tower that Cetra Ruddy was alluding too?

Anyways, this outgoing design below would have been interesting.

[Sky88]

New images from http://masseyknakal.com/news/reel.aspx?pst=2540

[Vertical_Gotham]

^^

Fantastic. I wouldn't mind at all if this design was retained. Love the little setbacks of that copperish tower. The façade reminds me of Gehry's 8 Spruce Street. Kinda looks like something SHoP would design.

Love this profile of the tower. Very Gotham imo.

[tdawg]

ah, so this is the tower that the Subway Inn dive bar was forced to move for. I approve.

[JR Ewing]

Holy Boehner! I hope that Kuafu uses this design!!

This is the Age of Ranses, lads!

[Hypothalamus]

Nice, so air rights (w/ inclusionary housing bonus) total 282,925 square feet (above grade) under the current assemblage. An air rights transfer from 767 Lexington would bump to 294,795 square feet. An acquisition/demolition of 767 Lexington (using inc. housing FAR 12) would bump to 317,850 square feet towards zoning.

[chris08876]

Looks like its about 950' as its almost at level with the Bloomberg Tower pinnacle. But at that angle, perception wise, I think its safe to say 950-1000'.

[NYguy]

Flexibility in design would allow for a supertall.

Adjacent to Billionaire’s Row, the site provides prospective developers the opportunity to construct a global icon that will undoubtedly attract elite residential purchasers and draw top retail and commercial tenants from around the globe.

Flexible zoning offers a first-class residential and commercial development opportunity in one of Manhattan’s most prominent zip codes. Due to the unlimited height potential, expansive lot size, and desirable location, development of this property will alter the Manhattan skyline and become one of the city’s tallest structures that will offer panoramic views of Central Park, Manhattan, and beyond.

http://masseyknakal.com/pressrelease...9781527297.pdf

[chris08876]

Kuafu Properties plans to turn the six-building location on East 60th Street into condominiums

Kuafu Properties, a New York-based Chinese investment firm formed two years ago, plans to build a condominium tower at the Upper East Side site that once housed the Subway Inn dive bar.

The company signed a contract to buy the property on East 60th Street, near Lexington Avenue, from World Wide Group, Chief Executive Officer Shang Dai said in an interview. Kuafu intends to demolish the buildings at the site and add about 60,000 square feet (5,570 square meters) of retail space in its ground-up project, he said.

The deal is the fourth in Manhattan for the company, whose name means "beyond wealth" in Chinese. This month, Kuafu agreed to buy One MiMA Tower, a luxury rental property on West 42nd Street that it plans to convert to condos. Chinese investment in New York real estate has surged in the past two years, with deals including Anbang Insurance Group Co.'s $1.95 billion purchase of the Waldorf Astoria hotel and the sale of 1 Chase Manhattan Plaza to Fosun International Ltd. for $725 million.

"In the long run, Chinese investment in U.S. will definitely grow stronger," Mr. Dai said in the interview in his Times Square office. "It is only the beginning of Chinese capital investing abroad, while the U.S., with its active market and robust economy, undoubtedly is the first choice."

The purchase of the East 60th Street property is scheduled to close in October, said Mr. Dai, who wouldn't disclose the price. Kuafu agreed to pay $300 million for the six-building site at 143-161 E. 60th St., according to a person with knowledge of the deal, who asked not to be named because the details are private.

======================
http://www.crainsnewyork.com/article...ation-for-300m