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  #61  
Old Posted Jan 28, 2019, 11:31 PM
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Originally Posted by ILNY View Post
Not sure if that info is correct, foundation work has already started.

https://farm8.staticflickr.com/7923/...daf40541_o.jpg
Yes it does appear that work of some time has been going on from the trains as you come into Penn Station. And from the article, it's clear they are moving forward, so I think we can move this to construction.



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Originally Posted by UrbanImpact View Post
Keep the orange man and politics out of here.
Yes, no politics.
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  #62  
Old Posted Jan 29, 2019, 1:58 AM
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The difference in height between 1 and 2 MW really doesn't hinder the overall look of it. Can barely tell. Which is good, but makes me wonder why they didn't just make pure twins. The difference is small, but why not make it even...
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  #63  
Old Posted Jan 29, 2019, 2:17 AM
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Originally Posted by chris08876 View Post
The difference in height between 1 and 2 MW really doesn't hinder the overall look of it. Can barely tell. Which is good, but makes me wonder why they didn't just make pure twins. The difference is small, but why not make it even...
I don't think they really wanted twins. The buildings aren't really identical, and the original design featured a much greater difference in height. It's still feels like the new WTC to me.
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  #64  
Old Posted Feb 5, 2019, 2:22 PM
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https://www.crainsnewyork.com/real-e...fields-big-bet

Brookfield's big bet
Deep-pocketed developer pushes ahead with second Manhattan West tower despite the lack of an anchor tenant






DANIEL GEIGER
February 5, 2019


Quote:
The normally no-holds-barred world of New York City commercial real estate has one cardinal rule: Don't build on spec.

No matter how much a strong economy may beckon builders to put up office towers, family real estate dynasties and large corporate landlords almost never embark on multibillion- dollar skyscrapers without first securing a large anchor tenant.

"The risks are tremendous," said Douglas Durst, chairman of the Durst Organization, which broke ground on 151 W. 42nd St. on speculation in the mid-1990s, then quickly signed an anchor lease with Condé Nast. "You can get stuck with an empty office building, which is enormously expensive."

Yet that's exactly what one of the city's biggest and savviest developers is about to do. Last week the $15 billion, publicly traded Brookfield Properties revealed it will raise the second of two soaring office towers at Manhattan West, a $4.5 billion mixed-use complex it's building in Hudson Yards, without a committed tenant.
Quote:
The nearly $2.5 billion spire, 2 Manhattan West, will rise 62 stories, encompass almost 2 million square feet and be completed in 2022. Brookfield says it has good reason to eschew the normally cautious approach that developers take when contemplating projects this large.

The firm has leased more than 90% of the adjacent 1 Manhattan West on 33rd Street and Ninth Avenue, a 67-story sister tower that will be completed later this year. But that project didn't break ground until after a deal was struck with the law firm Skadden Arps, Slate, Meagher & Flom to lease more than a quarter of the building's 2.1 million square feet.
Quote:
Large tenants have flocked to several major new office towers in Hudson Yards, validating the once-desolate neighborhood as a destination for corporate office occupants. But landlords there have started projects only after securing large leasing commitments. The Related Cos., for instance, broke ground on the soon-to-be-complete $3.7 billion tower at 50 Hudson Yards after signing a deal with Time Warner to occupy 1.5 million square feet, and it began the $3.8 billion 30 Hudson Yards in 2017 after leasing 850,000 square feet to Blackrock. Tishman Speyer launched a $3.7 billion office tower at 66 Hudson Blvd. last year after signing an 800,000-square-foot lease with Pfizer.
Quote:
Those examples reflect the prudence that developers take in a business where success depends on gauging economic conditions that are notoriously hard to predict. Many real estate executives say the economy appears to be due for a recession, even as the office market remains strong.

"There's always a risk that as you're building, the economy could turn," said Larry Silverstein, who went through a stomach-churning search for an anchor tenant after he began building the 2 million-square-foot-tower 7 World Trade Center in the mid-1980s. "There are those who are out there who predict a recession in the near term, and no one knows the timing of such events. But for a developer, if you do something on spec, you better be sure."
Quote:
Brookfield is confident it can avoid similar pitfalls. There is a growing preference among tenants for newly built office space that has given developments such as Hudson Yards an edge in the market. CBRE reported recently that 11 ground-up office projects are underway in the city, totaling 13.2 million square feet, half of which is preleased. In a report last month, the brokerage said 32.4 million square feet was leased in Manhattan last year, the strongest year of activity since 2000.

"There's been a tremendous amount of demand for 21st-century office buildings," said Scott Rechler, chairman and CEO of RXR Realty. "If you look at the data, you see that the majority of leasing activity right now is for newer buildings."

Those market conditions were a key factor that drove Brookfield's decision.

"Many tenants can't take you seriously until you're committed and out of the ground with a building," said Ben Brown, an executive vice president at Brookfield who manages the company's New York and Boston operations and who is leading the 2 Manhattan West development. "No one wants to be the tenant that committed to a building that didn't get built. Beginning construction is a differentiator for us."
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  #65  
Old Posted Feb 5, 2019, 2:23 PM
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Larger version of the pic above...



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  #66  
Old Posted Feb 6, 2019, 7:45 PM
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Glad to see this rise. The glass on 1MW turned out so great; I'm assuming this will look equally great. Poor Eugene next door, it was fugly from day one but the contrast makes it worse.
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  #67  
Old Posted Feb 24, 2019, 12:24 AM
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  #68  
Old Posted Feb 24, 2019, 2:07 AM
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Sure is a lot of very large developments talking about building without tenants recently. Hopefully it doesn't come to bite them in the ass, but if it does who really cares. Not like I'm going to cry because a bunch of billionaires made bad bets (unless we're stuck bailing them out AGAIN).
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  #69  
Old Posted Feb 26, 2019, 3:41 AM
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Originally Posted by BrownTown View Post
Sure is a lot of very large developments talking about building without tenants recently. Hopefully it doesn't come to bite them in the ass, but if it does who really cares. Not like I'm going to cry because a bunch of billionaires made bad bets (unless we're stuck bailing them out AGAIN).

There really aren't that many building on spec, relatively speaking to active construction. There's this tower, and Silverstein is thinking about it. There may be one or two more that won't come to mind right now.

There's always someone looking for large chunks of real estate in the Manhattan office market...


https://nypost.com/2019/02/25/office...elite-tenants/

Office towers compete to win over a handful of elite tenants

By Steve Cuozzo
February 25, 2019

Quote:
Five major new office towers are in frenzied competition for a handful of big tenants prowling for new Manhattan digs. Where the chips fall will have a big impact on the towers’ profitability and their developers’ fortunes.

Prominent among companies being wooed and pursued is law firm Cravath Swaine & Moore, which has 600,000 square feet at Worldwide Plaza (825 Eighth Ave.). It’s been there since 2007 and its lease is up in 2024. The 2.1 million square-foot tower is 50.1 percent owned by New York REIT Inc. in a joint venture with SL Green and RXR Realty.

According to sources, Cravath Swaine is taking a hard look at Brookfield’s Two Manhattan West, which has yet to rise; Related Cos.’ 50 Hudson Yards and Tishman Speyer’s The Spiral, both under construction; SL Green’s One Vanderbilt, which is nearly finished; and Silverstein Properties’ Three World Trade Center, which opened early last year.
Quote:
CBRE Vice Chairman Lewis Miller, the broker for Cravath Swaine, declined to comment. So did reps for all of the buildings. All five belong to the elite class of new commercial skyscrapers with advanced infrastructure systems and excellent views.

None would come cheaply. Asking rents at some of the towers break $100 per square foot. But Cravath Swaine might be in a position to strike the best deal for itself at Two Manhattan West.

Brookfield plans to start building the 1.9-million-square-foot skyscraper before it’s signed any tenants
, which doesn’t mean it wouldn’t love to have at least one in its pocket first. The first tenant into a spec project always has the most bargaining power.
Quote:
Plenty of space also remains available at the other new buildings. There are 1.6 million of 50 Hudson Yards’ total 2.9 million square feet; 2.05 million of The Spiral’s total 2.85 million square feet; 800,000 of One Vanderbilt’s total 1.7 million square feet; and nearly 1.5 million of Three World Trade’s 2.5 million square feet.

But sources offered a cautioning insight common in such situations — namely, that Cravath Swaine might decide to stay at Worldwide Plaza after all.

“They’re in a great position to wrestle the best terms from among six different landlords who’d kill to get them or keep them,” one insider said.

Sources said Cravath recently toured Three World Trade.

Another possible space-hunter is AIG, which is negotiating with Rockefeller Group for nearly 200,000 square feet at 1271 Sixth Ave.

The company is currently in several FiDi buildings.

Sources said AIG might also want up to 500,000 square feet, possibly at a single location Downtown.
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  #70  
Old Posted Mar 3, 2019, 12:23 PM
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^ and thats cuozzo’s opinion, mister surly himself, so i would take it as a minimum worst case scenario.
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  #71  
Old Posted May 28, 2019, 4:25 PM
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The headline is misleading and inaccurate, but nothing surprising here...


https://nypost.com/2019/05/27/amazon...ans-west-side/

Amazon is eyeing a return to New York City





By Lois Weiss
May 27, 2019


Quote:
Amazon may have bid farewell to Queens, but it still “hearts” the Big Apple.

After walking away from a deal to build a headquarters on the Queens waterfront in Long Island City, Amazon is back to shopping for office space on Manhattan’s West Side, sources tell The Post.

The tech giant has been in talks with owners of two shiny new skyscrapers located just one block west of Penn Station — the newly built One Manhattan West and its soon-to-be sister project, Two Manhattan West, sources tell The Post.

The online retailer is seeking “at least 100,000 square feet or much more” — just to start, one well-placed source said.
Quote:
Amazon, which already has 5,000 workers in NYC, had been “seriously” looking at Two Manhattan West prior to choosing Long Island City in November, a second source said. “That interest has returned over the last few weeks,” the source added.

Brookfield, which owns the two Manhattan West towers (and another at 5 Manhattan West, where Amazon is already a tenant), denied through a spokesman that it was leasing to the Seattle company. But multiple sources pointed to the company’s strict confidentiality agreements as a potential reason.

“We don’t comment on rumors or speculation,” an Amazon spokeswoman said.
Quote:
At Two Manhattan West, Amazon is eyeing space at the top of the tower, sources said. The only issue is that the building, to be located on 31st Street and 9th Avenue, won’t be ready for tenants until 2022.

One Manhattan West, by contrast, will be ready for tenants to move in this fall, including a 250,000-square-foot space in the middle of the 67-story tower. The 250,000-square-foot space won’t be available long-term, but could satisfy Amazon’s space needs until Two Manhattan is ready, sources said.
Quote:
Amazon also is considering space in the US Post Office building across the street, known as the James A. Farley building — a Vornado development that will boast office space across five levels and will be ready for tenants next May, sources said.

Amazon’s renewed focus on Manhattan so soon after dropping its plans for Queens is an apparent rebuke to the politicians who helped scuttle Amazon’s plans to build a 4 million-square-foot campus in LIC, including US Congresswoman Alexandria Ocasio-Cortez, sources said.

Queens residents overwhelmingly supported plans for 25,000 new jobs with an average wage of $150,000, polls have shown.

One reason is that every job that Amazon brought to the area would have had a multiplier effect on five or more other local jobs, including at local coffee shops, dry cleaners and food franchises, said Alfredo Ortiz, president & CEO of the Job Creators Network.

Manhattan, by contrast, will barely register the growth, experts said.

“Frankly, that kind of activity gets lost in Manhattan,” said Kathryn Wylde, CEO of the nonprofit Partnership for New York City.
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  #72  
Old Posted May 28, 2019, 4:42 PM
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They should gone for Manhattan to begin with in hindsight as it does not share the same anti-business mentality like LIC and its elected representatives on a power-trip. Plenty of space coming online that could of easily met their needs.

But good news nevertheless. An expanding Amazon in Manhattan will surely drive the need for more space and increase the feasibility of current or future towers.

Both Google AND Apple are seeking to expand within the 5 boroughs.
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  #73  
Old Posted May 29, 2019, 3:05 AM
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  #74  
Old Posted May 29, 2019, 11:50 AM
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Between Amazon and Cravath, it appears that MS is not moving here.

https://nypost.com/2019/05/28/law-fi...-blocks-south/
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  #75  
Old Posted May 29, 2019, 6:14 PM
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https://therealdeal.com/2019/05/29/b...anhattan-west/

Brookfield signs on law firm for huge spread at Two Manhattan West
While Amazon weighs a potential lease at the site, law firm Cravath Swaine & Moore has agreed to move in


May 29, 2019


Quote:
As Amazon eyes of Brookfield Property Partner’s Two Manhattan West, another tenant has swooped in to take 350,000 square feet at the building.

Cravath Swaine & Moore signed a term sheet with the landlord last month, and agreed this week on the deal at the almost 2 million-square-foot building, according to the New York Post. The law firm will almost halve its office footprint when it moves from its 617,000-square-foot space at 1 Worldwide Plaza at 825 Eighth Avenue.
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  #76  
Old Posted May 29, 2019, 6:32 PM
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^ hey bezos -- snooze ya looze!
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  #77  
Old Posted Jun 24, 2019, 2:56 PM
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These older drawings have since changed slightly, but for the most part, what's being built...







































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  #78  
Old Posted Jun 26, 2019, 6:11 AM
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Regarding Debevoise (aka Debevoise & Plimpton) and Amazon. Looking at 2 MW



= = = = =




Quote:
[...]


Suddenly cast back into the leasing market, Debevoise is considering space at a neighboring office building being raised by developer Tishman Speyer. Called the Spiral, that tower features a corkscrewing series of exterior terraces meant to evoke the nearby High Line elevated park.

Debevoise is also looking at space at 2 Manhattan West—another Hudson Yards tower being built—as well as 3 World Trade Center in Lower Manhattan and 4 Times Square in Midtown, a source said.

A spokesman from Debevoise declined to comment.

The deal would give the tech sector a major presence at Hudson Yards. Until now, demand in the neighborhood has been driven by more traditional city industries, including finance, legal, media, fashion and pharmaceuticals.


Amazon, which already has space at Hudson Yards building 5 Manhattan West, is considering expanding its footprint in the neighborhood and is rumored to be looking at space at 2 Manhattan West, which is being developed by Brookfield Properties on a bet it can capitalize on the strong leasing activity in the neighborhood.
=============
https://www.crainsnewyork.com/real-e...n-yards-office
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  #79  
Old Posted Jun 30, 2019, 11:13 PM
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Credit: SideStreet

Last edited by chris08876; Sep 7, 2019 at 12:45 AM. Reason: fixed
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  #80  
Old Posted Sep 7, 2019, 12:44 AM
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