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Old January 10th, 2014, 01:02 PM   #281
Eric Offereins
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I would like to see them too, still sceptical though.
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Old February 18th, 2014, 10:13 PM   #282
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Singer & Bassuk Secures $450 Million Starwood Property Trust Loan for 250 East 57th Street
http://commercialobserver.com/2014/0...t-57th-street/


Rendering of 250 East 57th Street by SOM’s Roger Duffy

Quote:
The Singer & Bassuk Organization has closed a $450 million construction loan from Starwood Property Trust for phase two of World-Wide Group‘s $600 million luxury condo development at 250 East 57th Street, Mortgage Observer has exclusively learned.

The three-year loan plus extension options, which closed earlier today, covers approximately 95 condo units and 165 rental apartments as well as about 35,000 square feet of retail space, said Andrew Singer, chairman and CEO of the New York-based brokerage firm. The loan also covers the Whole Foods Market store that was built on the site as part of phase one, he noted.

The 715-foot tower, due for completion in the next 30 months, will contain 59 stories with an estimated 268 residential units in total. The Whole Foods and two new on-site schools for PS 59 and the High School of Art and Design opened in the fall of 2012. The Educational Construction Fund of the City owns both school properties. Phase one of the development, not counting the 39,000-square-foot Whole Foods, was entirely financed by the City of New York through bonds.

The modernism-style condo skyscraper, designed by Roger Duffy of Skidmore, Owings & Merrill LLP, has been under development since 2010. Other principals in the condo project include Rose Associates and J.P. Morgan Asset Management.

“We have been involved for past six years as advisor to the developer,” Mr. Singer told Mortgage Observer.

Singer & Bassuk also provided phase-one financing of an off-site public school at 250 East 63d Street that World-Wide Group built as part of the process to relocate students from the site while the developer built the new schools there.
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Old February 18th, 2014, 10:28 PM   #283
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Another one to join the 57th street insanity. I'm a bit confused as far as the design, the article mentioned SOM as the architect, so are they keeping the same design or is SOM designing the new building with the more square massing? Or is the article wrong about SOM designing the building cause the Yimby article listed SLCE as the new architects.

http://newyorkyimby.com/2013/12/250-...designed.html#
Quote:
SLCE is listed as the new architect, and the developer is the World-Wide Group.

Last edited by Ghostface79; February 18th, 2014 at 11:07 PM.
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Old February 18th, 2014, 10:47 PM   #284
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I believe SOM was responsible for the jagged design.
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Old February 18th, 2014, 11:02 PM   #285
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yea i think unfortunately the jagged twisty design is out for a more boring design.
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Old February 19th, 2014, 05:36 PM   #286
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Why would you torture us by putting the former render in the post? :P Wasted opportunity this tower will be.
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Old February 19th, 2014, 05:58 PM   #287
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Quote:
Originally Posted by Manitopiaaa View Post
Why would you torture us by putting the former render in the post? :P Wasted opportunity this tower will be.
lol.. I admit I knew what I was doing but it was in that article!

I'm a bit sadistic that way.
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Old February 19th, 2014, 06:19 PM   #288
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The YIMBY came out with a taste of the 'new design' back in December:


http://newyorkyimby.com/2013/12/250-...-designed.html


To say it's uninspired is a massive understatement.
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Old February 20th, 2014, 12:17 AM   #289
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Perhaps the developer will use the old design at its new site on 60th and Lex.
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Old February 21st, 2014, 07:44 PM   #290
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World Wide Group lands $450M loan for 252 East 57th Street

Quote:
The World Wide Group and Rose Associates secured a key construction loan for its 65-story rental and condominium tower at 252 East 57th Street Thursday, the firm announced.

The closing on the $450 million loan — the largest such financing of 2014 so far, according to World Wide — is seen as a key development in moving the project forward. Starwood Property Trust provided single-partner financing for the mega loan.

Hunton & Williams represented World Wide Group in the financing deal, while Andrew Singer served as advisor. Sidely Austin’s Robert Golub represented the lender.

The 700-foot tower will offer 93 condominium units and 173 rental apartments, along with 33,000 square feet of retail space, and is being marketed by Stribling Marketing & Associates. Construction is already underway, and sales are slated to kick off in the second quarter of 2014.
The height and floor count figures are off, probably due to sloppy reporting.
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Old February 25th, 2014, 10:40 AM   #291
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Some inside info by Stopher @SSP:

Quote:
Hey there, everyone!

Obviously, I'm new here, but I've been an avid reader of this board for over ten years.

I'm a manager at the Whole Foods that was built in the retail space as part of phase 1 of the development, and I'm also a huge New York City skyscraper geek.

A few observations:
They definitely seem to be going with the newer, simpler design as opposed to the gorgeous crystalline structure that was originally slated to be built. There's a poster on the construction barricade of the vague massing drawing posted here a little while back.

My two cents:
Prepare to be disappointed. I expect this to look cheap and uninspired; here's why: Phase 1, with the Whole Foods and schools, is kind of a train wreck, both in visual quality and structurally. It's no secret that the building looks like a pile compared to the renders, but they value engineered the hell out of pretty much everything.

We've had constant problems with the water tank, piping, heating, and air conditioning systems since we opened in August of 2012. Pipe backups and leaks (borderline floods!) are commonplace, and my coworkers and I joke that the place was built with cardboard and masking tape.

I would like to be surprised by this building, but I wouldn't hold my breath.

Also, they've been drilling all this past week. Construction has DEFINITELY resumed, and they're digging now to build the foundation.

Cheers!
At least it will be u/c soon.
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Old April 1st, 2014, 12:40 AM   #292
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Well this is kind of cool... "Storage Retrieval Unit - Automatically Operated - No Humans Present." Basically, parking via an automobile vending machine... Check out the pictures on the second-to-last page...
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Old April 1st, 2014, 03:30 AM   #293
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True Billionaires row
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Old April 14th, 2014, 04:49 PM   #294
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From ILNY@ssp
http://forum.skyscraperpage.com/show...117521&page=13


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Old April 14th, 2014, 06:14 PM   #295
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That's a real high quality render on the project board.
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Old April 14th, 2014, 10:17 PM   #296
Eric Offereins
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Status should be PREP, if not U/C already.
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