Extell Development
Steven Holl
61 floors
775 feet

This tower is going up no matter who wins over the rail yards with their plans. The Port Authority has approved the sale of a 7,300-square-foot sliver of land to Extell Development for $17.1 million, moving the giant developer a step closer to construction on the site.

http://img152.imageshack.us/img152/5397/93530961uj3.jpg

The following pictures are new because they are from the Hudson Yards plans:

http://img517.imageshack.us/img517/2605/ressov6.jpg

http://img248.imageshack.us/img248/1558/metlifenorth1930s400m13wy7.jpg

I'm not sure when it will be u/c, but it will not take long at all.

^^ Am I the only one unable to see the "following pictures"? :(

No you're not : (

Yes, the second set of pictures (concerning Hudson Yards) are not visible.

In fact I can't even go directly to these URLs

http://img509.imageshack.us/img509/7939/render2202jw7.jpg

http://img509.imageshack.us/img509/2324/model323364un5.jpg

I kinda like this tower,especially in the first render.
I remember seeing something about it before,and If I'm not wrong this is a Steven Holl project right?

yes, fantastic design. but it looks taller than 236m

Yeah, Steven Holl and I rehosted and reposted so it should all work fine now.

Nice one NYC!

i love nyc, there are many projects for that city!!

I like this building, it has a sort of Taipei feel to it but isnt a copy/paste design :)

wow.. funky... Looks nice!

-Wow k moderna y linda....I like this tower.

the first picture looks a lot like an old rendering from the Beekman Tower for lower manhattan
i really like Extell proposal the best too

hmmm...not sure about weather i like it or not
i'll have to wait and see

definetly asian looking.

I like, I don't love it. I don't know, but something about the design is kinda bothering me. I'll wait to see a few more renderings.

i designed this when i was in school. ops

http://www.stevenholl.com/media/files/390/M-6-WPROJECTHORIZONTAL.jpg

http://www.stevenholl.com/media/files/390/M-2-WPROJECTHORIZONTAL.jpg

http://www.stevenholl.com/media/files/390/M-4-WPROJECTHORIZONTAL.jpg

Source: STEVENHOLL ARCHITECTS

today by Scruffy, SSP:

http://i195.photobucket.com/albums/z70/Scruffy66/saya/DSC00280.jpg

http://i195.photobucket.com/albums/z70/Scruffy66/saya/DSC00283.jpg

http://i195.photobucket.com/albums/z70/Scruffy66/saya/DSC00285.jpg

Hey that place looks like my bedroom! ;)

But clearly no construction yet. :(

Disgusting, nothing compared to 99 Church. Absolutely horrendous are the only words to describe it with. At least it might complement the Beekman tower.

It's no where near 8 Spruce Street and I'd have to say it's quite far from horrendous just because it's simple and glassy. Then I guess a lot of new buildings all over the world are also horrendous. Frankly, there has to be stuff like it. It's going to be one of the great glass towers of its size range in the area, adding a lot to the skyline and neighborhood, and I'm sure it will work perfectly with HY and the boom of new towers there, showing respect to the taller, larger and greater buildings on the way.

I'm being too harsh, Art Deco is my preference. Obviously I'm a slight bit biased.

Of course Art Deco was perhaps the greatest but that style just isn't in today. There are two or three new old fashioned towers like that, but maybe not as good as it was back then, so we'll see. The type of building in this thread is simple but that doesn't mean it's in any way bad; it's all defined by the glass facade. Perhaps in 90 years we'll desire buildings like the one here and see them as the greatest style. I would rather have this than a poor quality Art Deco skyscraper, or perhaps a simple Art Deco one when compared with a modern one that is too crazy or artificial.

http://www.observer.com/2008/jerry-speyer-s-loss-gary-barnett-s-gain-far-west-side

Jerry Speyer's Loss Gary Barnett's Gain on Far West Side

http://www.observer.com/files/imagecache/vertical/files/breaks_speyer.jpg

by Eliot Brown
June 17, 2008

Jerry Speyer’s loss at the West Side rail yards seems to be working out pretty well for Gary Barnett.

With Mr. Speyer defeated—the chairman of Tishman Speyer Properties fumbled the $1 billion deal with the state to buy the site’s development rights in May, ultimately backing out of an agreement—so, too, has fallen his plan to raze a piece of a former elevated rail line that runs along the rail yards on 30th Street.

Enter Mr. Barnett.

The president of Extell Development is planning a 61-story Steven Holl-designed mixed-use tower on the northeast corner of 10th Avenue and 30th Street, from which he plans an elevated pedestrian bridge to the section of rail line.

That rail line section is a spur of the 1.5-mile High Line, the rail viaduct turned parkland that runs from Chelsea to the rail yards and has created a halo of rising property values at its perimeter. One would imagine that the building’s walkway to the spur, which itself is planned for parkland conversion now that Stephen Ross’ Related Companies has supplanted Tishman Speyer as the developer, would give a healthy boost to rents at the Extell building as well. Related has said it intends to preserve the spur.

So what will become of the spur?

The details are up to Related, and will be determined as it develops the rail yards; but Robert Hammond, co-founder of the group Friends of the High Line, said the space presents great design possibilities, as it is wider than much of the rest of the viaduct.

“There’s an opportunity for a public gathering space there,” he said.

I've seen renders of this tower - good to see development being planned.

I guess we will see. I hope they use low-e glass and recycled steel.

- Andy

Beautiful tower,incredible proyects in new york,incredible proyects for a incredible city.

What is the latest news on this project?

And by the way, does anyone know what is planned in terms of public transport for this area? I mean... This tower + Hudson Yards + other buildings for sure... They MUST have planned another Subway line or something!

Hey that place looks like my bedroom! ;)

But clearly no construction yet. :(

lol any updates?

nope

Rumored to be canceled.

Hmmm... I've got one word to describe my thoughts on this one; wacky. That doesn't necessarily mean bad, or good. Yet.

-Time to close the books on this one:

Real Estate Weekly
Bank foreclosing on Extell site.

Daniel Geiger
October 28, 2009

Barclays has begun foreclosure proceedings on a development parcel owned by Extell Development Company on the far West Side.

The London-based bank filed suit against Extell over the weekend, claiming that the real estate firm has defaulted on a $28.8 million mortgage Barclays loaned the company in 2005.

The lawsuit names Extell's chief executive, Gary Barnett, as a personal guarantor on the debt, meaning he is responsible for paying portions of the mortgage if proceeds from a foreclosure saleforeclosure sale aren't sufficient to recoup the loan amount.

The guarantee could put Barnett on the hook for millions, especially since it would appear difficult to sell the land for the amount he paid. Real estate prices have dropped dramatically during the economic downturn, but perhaps no property type has fallen in the city more precipitously than land, whose value is typically tied to the economic prospects of the real estate that can be built on it.

According to according to the suit, Barnett borrowed the money to consolidate under a single, senior mortgage the debt from a collection of smaller parcels he had amassed to create the development site.

According to written reports, Barnett had planned to raise a soaring mixed-use skyscraper on the site, which is located at 350-366 Tenth Avenue between 30th and 31st Streets, during a period when the area appeared to be an important new frontier New Frontier

Barnett's parcel sits across the street from the West Side rail yards, a site envisioned as a westward expansion of midtown with millions of square feet of new commercial and residential space planned.

Perhaps sensing the opportunity to develop an adjacent property and be at the forefront of an emerging area, Barnett paid handsomely to amass a parcel on the relatively small block-front large enough to raise what he planned would be a soaring 600,000 s/f tower. Included in the project were even plans to construct a costly sky bridge over Tenth Avenue linking the property to the High Line.

Barnett was reported to have spent $23 million to buy up a property known as the Stuart Dean building in 2005, a low-rise structure he later demolished to clear the bulk of the site. Barnett later paid the Port Authority over $17 million for a 7,300 s/f section of land to expand the parcel in 2007.

Barclay's complaint, which was filed in State Supreme Court last Friday, states that Barnett failed to make an $84,021.38 interest payment for the loan that was due on June 9 and that there was no longer enough funds in an interest reserve to cover the missed amount.

Barclays says that it is owed close to $30 million after factoring in interest on the loan, which is now accruing at a higher rate because the mortgage is in default. In July alone, the bank said that $205,527.84 in interest at this default rate had been added to the mortgage balance, along with $14,477.46 in late fees

The bank notes that: "Barnett is liable for the full payment of all accrued and unpaid interest, including payment of any deficiency between the amount finally adjudged to be due and owing due and owing on the consolidated mortgage consolidated mortgage

Barnett did not responds to request for comment.

http://www.allbusiness.com/legal/legal-services-litigation/13411264-1.html

-And lastly:

http://ny.curbed.com/archives/2010/08/17/checking_out.php

CHECKING OUT Powerhouse developer Extell won't be building a 61-story hotel at 356-366 10th Avenue after all. Why not? The company has lost the site to its lender after failing to keep up with interest payments. Extell blames financing troubles and the 7 train extension's failure to arrive on the West Side on the developer's schedule. [Real Deal; previously]

***

Extell loses first site ever with West Side parcel

http://therealdeal.com/newyork/articles/gary-barnetts-extell-loses-first-site-ever-with-west-side-property-at-355-366-10th-avenue

THE REAL DEAL
August 16, 2010 06:00PM
By Adam Pincus

The developer that buys this site from the bank may very well build that tower. Something tall will rise there. This area, which is currently a dump, will be magnificent in years to come when the parks, Hudson Yards, etc. are built