NEW YORK | 31 W. 57th St | FT | FLOORS

[Eidolon]

A bona fide turd! What the hell are they thinking!!!

[spyguy]

All of that destruction...for this? I really hope that's not the final product.

[Busy Bee]

You know, sometimes, just maybe, public flogging is an appropriate response...

[NYguy]

https://www.6sqft.com/billionaires-r...over-eviction/

Billionaires’ Row kosher deli fights high-rise developer over evictio

AUGUST 5, 2019
BY MICHELLE COHEN

Cafe Classico, a kosher delicatessen that has occupied the storefront on West 57th Street next door to an 1891 French-style townhouse for 19 years has asked a judge to spare it from eviction, the New York Post reports. The LeFrak Organization and Vornado Realty have plans to build a high-rise tower on the next-door property at 29 West 57th Street, and the deli’s landlord, 35 West Realty Co., has threatened to evict the longtime business over insufficient insurance coverage.

The deli’s landlord claims its $1 million liability policy instead of a $2 million policy is in violation of its lease, which runs through 2040; but Cafe Classico has said in a lawsuit now in Manhattan Supreme Court that its landlord is simply motivated to boot the eatery so the developers can progress with their “major development project.”

The deli says it’s the only holdout, holding fast in the five-story building next to an empty space where three buildings stood–including the limestone mansion that was formerly home to the iconic Rizzoli Bookstore. The restaurant says it hasn’t violated its lease and claims the “unique and irreplaceable” business has invested $500,000 in the building over the years.

Warren Estis, a lawyer for the landlord, says the eviction has nothing to do with the development next door. “We’re not part of the demolition next door. That’s separate and distinct from us.”

https://nypost.com/2019/08/03/kosher...ight-eviction/

Cafe Classico, which has been around for 19 years and has a lease through 2040, sits in a five-story building next to a gaping hole in West 57th Street where three similar structures — including the limestone mansion which once housed the famed Rizzoli Bookstore — have already been torn down.

But the landlord is really just looking for a reason to get the eatery out so it and another developer can continue with the “major development project” set for the space, Cafe Classico claims in a Manhattan Supreme Court lawsuit.

Calling its location “unique and irreplaceable” in court papers, the restaurant is asking a Manhattan Supreme Court justice to stop the landlord’s eviction bid by declaring that Cafe Classico hasn’t violated its lease.

[JMKeynes]

It will be quite sad to see that gorgeous building demolished, especially if a banal glass box rises there.

[Crawford]

Looks like Vornado's tower footprint is expanding. This better be something iconic.

[Zerton]

Weird. I wonder what the cantilever is for?

[NYguy]

Originally Posted by Zerton

Weird. I wonder what the cantilever is for?

Not sure. Here's an older look at the site...

Originally Posted by Crawford

Looks like Vornado's tower footprint is expanding. This better be something iconic.

Warren Estis, a lawyer for the landlord, says the eviction has nothing to do with the development next door. “We’re not part of the demolition next door. That’s separate and distinct from us.”

Currently not a part. They left out the currently. We'll see what's going on.

[Crawford]

Originally Posted by NYguy

Currently not a part. They left out the currently. We'll see what's going on.

The building is empty except for the deli. And there's a separate vacant building two doors to the left. So something is happening here.

My guess is that Vornado is slowly assembling a much larger footprint, from the former Hadassah building on the west to the former Rizzoli site on the east.

[JMKeynes]

I think that the site to the west (which includes Haddasah on 58th) is for a separate project controlled by a Turk.

[Crawford]

Originally Posted by JMKeynes

I think that the site to the west (which includes Haddasah on 58th) is for a separate project controlled by a Turk.

Yes, a Turkish entity purchased the Hadassah site a few years ago.

But I still think there's a larger footprint being assembled, as the sites between Hadassah and Rizzoli are being emptied. The Rizzoli site doesn't have 58th street access and the Hadassah site doesn't have 57th street access.

Granted, sometimes assemblages don't work, but, to me, it seems obvious that someone is at least trying. Otherwise, why are the in-between sites being emptied, rather than staying occupied and just selling the air rights?

[NYguy]

Yeah, it seems likely that some assemblage is going on, either with or without the Vornado site.

[NYguy]

https://nypost.com/2019/08/15/landlo...-row-revealed/

Landlord who wants kosher cafes nixed from ‘Billionaire’s Row’ revealed

By Steve Cuozzo
August 15, 2019

The mystery landlord trying to boot a pair of longtime kosher cafes from Billionaires’ Row is none other than block-gobbling mega-developer Sheldon Solow, The Post has learned.

As The Post reported on Aug. 3, an unnamed landlord threatened to kick Great American Health Bar and Café Classico out of their home of 19 years — claiming they’re in violation of their lease for having only a $1 million insurance liability policy instead of a $2 million policy.

Sources now tell The Post that the building where the cafes reside, 35 W. 57th St., is owned by a corporation, 35 West Realty Co., that is controlled by Solow — a press-shy real estate mogul with a net worth of $5.2 billion, according to Forbes.

That has real estate tongues wagging that Solow, now 91, has big plans for the building, which sits next to an empty lot on a street that boasts billionaires Ken Griffin and Bill Ackman as residents.

“An empty building is worth a lot more than an occupied one when you’re trying to build,” an insider noted.

The Vornado-LeFrak site next door has been an empty lot for five years since the building that housed the Rizzoli bookstore was torn down.

Vornado declined to comment through a rep. Solow’s lawyer, Warren Estis, didn’t respond to questions.

Cafe Classico and Great American Health Bar argued in a Manhattan state court filing that their landlord is trying to unfairly oust them to make way for a “major” new building.

[Crawford]

Clearly there's a major assemblage in progress. The only question is whether Solow or Vornado ultimately develop the site.

[JMKeynes]

57th Street's former charm has been lost with the destruction of all of its old beauties. I obviously support new supertalls, but it would be nice if they were built where junk currently stands.

[Busy Bee]

They should do the right thing and at least save the facade. Taliban at work here.

[JMKeynes]

Originally Posted by Busy Bee

They should do the right thing and at least save the facade. Taliban at work here.

I agree.

[chris08876]

This is a big opportunity. I hope its not underwhelming, like Solow's 10 West 57th Street.

[Crawford]

At this point, I kinda hope Vornado is leading the assemblage, and we get another 220 CPS or 15 CPW. Can you imagine a 1,500 ft. RAM Stern tower?

Solow is more of a modernist, so I imagine their tower would be more in in line with CPT, One57 and the like. But we'll see. Given the location and air rights, likely another Billionaire's Row supertall.

[chris08876]

Amen to that. Let's hope. Lot of potential. Pre-sales especially over the long run. Even with a slowing ultra-luxury sector, I think if they aim for a time frame of 4 years, any tower here would make sense.

We still have Park Lane to look forward to when the time is right. That's another parcel that could yield the next CPT or 111 W 57th in time.

I'm a big fan of mixed used, so I would love an office/hotel component, retail at the base to keep 57th Street exciting, and a large residential component a top. I think that would be the least riskiest option.

In terms of risk, I have a suspicious developers are scaling back or at least waiting until demand is a little better or confidence. 1 Manhattan Square as a case study. They are offering incentives on that tower to lure buyers, but part of me is thinking that its a sign that they are reevaluating the risk at the moment. Not that its super risky, but I don't think the confidence is there relative to 2017/2016.

With that said, I think long-term is key with this site.

Now if they add some sort of office component, I think we could see something here sooner.