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  #621  
Old Posted Feb 19, 2021, 1:49 AM
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Its prime land. But views can be blocked on the South/West and Eastern flanks.
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  #622  
Old Posted Feb 19, 2021, 5:25 PM
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so are we bumping this so we dont forget about it until we come back to it in 3yrs or so after some movement?
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  #623  
Old Posted Aug 13, 2021, 8:12 PM
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No news on this particular tower, but things are trending favorably towards a restart....



https://www.businessinsider.com/nyc-...n-group-2021-8

Rich people are buying up more New York City penthouses now than any other time in the last 14 years


Avery Hartmans
August 13, 2021


Quote:
Penthouse sales have boomed in New York City this year, another sign that the city's real estate market is hotter than ever.

During the first half of 2021, real estate firm Corcoran Group saw 222 penthouse contracts signed, the company's CEO, Pamela Liebman, told Bloomberg's James Tarmy this week.

"That was between January and the end of May, the strongest first half-year of penthouse sales since we've been tracking this, starting 14 years ago," Liebman said.

If sales continue at the same pace, Manhattan could see over 500 penthouse sales in 2021, a feat the city hasn't seen since 2007, pre-
recession
. That year, the city saw 501 penthouse sales, the first and only time more than 500 of the luxury units have sold in the city, according to Mansion Global.
Quote:
But penthouse sales are just the tip of the iceberg — Manhattan real estate is hot across the board. According to a recent report from brokerage Douglas Elliman and real-estate appraiser Miller Samuel, prices are soaring and more people are buying in New York.

The report found that the median sale price in Manhattan reached its highest level in eight quarters during the second quarter 2021, and that the borough recorded more sales during that same period than any other time in the past six years.



https://au.roberts.co/projects/45-broad-street/

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  #624  
Old Posted Aug 18, 2021, 2:26 AM
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Aaaahh, man, such a tease!
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  #625  
Old Posted Oct 7, 2021, 11:46 AM
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Jeez… I wonder why the Lower Manhattan reject so many large projects leaving only 2, 5 WTC and 260 something-ish skyscraper.
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  #626  
Old Posted Oct 7, 2021, 1:35 PM
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This tower is pretty spectacular. Hope it gets restarted by next year, given the booming luxury sales market.
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  #627  
Old Posted Oct 7, 2021, 2:52 PM
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Quote:
Originally Posted by Raysiri View Post
Jeez… I wonder why the Lower Manhattan reject so many large projects leaving only 2, 5 WTC and 260 something-ish skyscraper.
That makes no sense. There’s no news on this project, same as others, not only in the city, but around the world.

There’s no “rejection”.
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  #628  
Old Posted Oct 8, 2021, 4:06 PM
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What I’d like to know is how much of this hot condo market is still fueled by rich folks from around the world “banking” their money in Manhattan real estate.
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  #629  
Old Posted Oct 9, 2021, 6:29 PM
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Originally Posted by Drcastro View Post
What I’d like to know is how much of this hot condo market is still fueled by rich folks from around the world “banking” their money in Manhattan real estate.
That hasn't returned, but it's just a matter of time.
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  #630  
Old Posted Nov 18, 2021, 12:45 PM
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Sorry for reviving it, but why the diagram shows it’s under construction when this is put on-hold?
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  #631  
Old Posted Nov 19, 2021, 4:41 AM
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Originally Posted by Raysiri View Post
Sorry for reviving it, but why the diagram shows it’s under construction when this is put on-hold?
For future reference, please direct all your diagram questions here....
https://skyscraperpage.com/forum/forumdisplay.php?f=30
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  #632  
Old Posted Nov 19, 2021, 3:21 PM
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Not really adding much to conversation but since its been bumped I'll just reitterate what a kick to the nuts it's gonna be if this tower never comes to fruition. Truly a loss for Lower Manhattan.
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  #633  
Old Posted Nov 19, 2021, 9:42 PM
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Not really adding much to conversation but since its been bumped I'll just reitterate what a kick to the nuts it's gonna be if this tower never comes to fruition. Truly a loss for Lower Manhattan.
That would never happen. They already spent over $100 million purchasing an existing tower, tearing it down, and prepping for construction. They also already fully funded the MTA subway improvements that were required for construction approval.

The design could change, of course, and there could be further delays, but there is 0 chance of a permanently stalled construction site in the middle of Manhattan. A tower with the approved buildable square ft. will rise.
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  #634  
Old Posted Nov 21, 2021, 1:27 AM
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Yes, but it may turn out its not THIS tower, which is what i meant by the comment. Sure something will of course get built but it would be a serious disappointment if the current design never becomes reality. It is stunning.
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  #635  
Old Posted Nov 23, 2021, 5:16 PM
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Checked recently and the original 45 Broad updates portal is also shuttered as well. Not even a website anymore, so that's not a good sign.

Indefinite hold until the market conditions improve.

Quote:
Originally Posted by Busy Bee View Post
Not really adding much to conversation but since its been bumped I'll just reitterate what a kick to the nuts it's gonna be if this tower never comes to fruition. Truly a loss for Lower Manhattan.
Something will eventually rise on this empty parcel, as we've also seen with Midtown where they sit vacant for years. And if need be, the owner of the parcel, if they feel they are not going anywhere, to not take the loss from any land cost expenses, because an owner of "X" parcel, even if it sits empty, still pays for it... they can always sell it to a party who will build something, even at a discount.

One of those development sites that will really depend on the market and when the conditions are right. As for the original 45 Broad design, again, market conditions, risk, and if its feasible to build at the time the owner seeks. Eventually, we will find out if the current version rises, is scrapped, or the parcel is sold or even downsized into something completely different so long as its within the zoning parameters.
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  #636  
Old Posted Jan 20, 2022, 3:12 PM
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I added "ON HOLD" to the thread title as there doesn't appear to be any active construction taking place in this one at the moment.

Anyone know when construction might resume?
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  #637  
Old Posted Jan 20, 2022, 3:18 PM
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This one is on indefinite hold until the market improves. No movement on all at this. Risk has always been paramount with this parcel. Until the market provides optimal risk acceptance, this will not budge.
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  #638  
Old Posted Jan 20, 2022, 3:55 PM
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The Manhattan market is on fire, right now. It would be wise if they got this going, especially because this will be smaller units, and those units are absolutely bonkers right now.

Family-sized units never really dropped during the pandemic, but smaller apartments did, and they're now the fastest appreciating segment of the market.
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  #639  
Old Posted Jan 20, 2022, 4:50 PM
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Could also be factoring in competition up North in Midtown and Midtown West. IDK what these units or the projected cost is but if its competing with the likes of say the 57th Street towers, could be market risk given the location. I'd probally look to towers not starting up earlier like 80 South (aside from the shenanigan's with Oceanwide, but the general trend of towers not starting up South of Canal St relative to everything North of the Thirty Streets). In terms of construction commencing due to timetables that correspond to the market risk (optimism in the ones that start up with respect to your typical Ultra-luxury niche market).
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