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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old November 19th, 2009, 08:41 PM   #21
xlchris
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Will become quite a dense area there. It is already ofcourse.
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Old November 19th, 2009, 10:07 PM   #22
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Quote:
Originally Posted by chinarulez View Post
NYguy, SSP

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Don't forget the 40+ story tower by Pelli which will rise on CPS. It will be where the white building (the fourth in from the right) is.
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Old November 23rd, 2009, 06:04 PM   #23
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Here's some good news for this and other high-end NY projects:

http://www.nytimes.com/2009/11/22/re...7D0WysWu8pEi1w

"Lots to Spend, Little to Buy"

Chester Higgins Jr./The New York Times

Published: November 20, 2009

PITY the long-suffering brokers of luxury Manhattan real estate. They endured a lonely spell, waiting for the phone to ring. Few properties sold and few buyers were even looking. Now with the Wall Street bonus season about to begin, they are suffering again, they say, but this time because of a drought in inventory.

After a bump-up in sales over the last few months, brokers say, more wealthy buyers have come back to the table, looking for fabulous apartments at a bargain. But there are precious few listings. “I have clients who feel this is the time to buy,” said Felise Gross, a broker at Brown Harris Stevens, “but there is very little prime property to show them.”

The listing drought, they say, is most pronounced in large condominiums in the most celebrated new buildings, but also significant in the town house market. And even in the luxury co-op market, where there are more listings, only a fraction have been priced competitively enough to attract buyers, brokers said.

Last week, Thomas P. DiNapoli, the New York State comptroller, gave brokers cheer in a report suggesting that Wall Street had begun to rebound faster than expected.

The report said total compensation at the six largest banks could exceed the $163.9 billion that was paid in 2007, before the financial crisis. But some Wall Street segments like hedge funds are still weaker than before, and the securities industry is down 28,300 jobs in the city (though the number of jobs rose slightly in September). State budget officials are predicting a 22 percent decline in total cash bonuses across New York State, the report said.

In short, with employment down, a smaller number of Wall Streeters could be dividing up a larger bonus pool, though some of it will be in deferred earnings.

These buyers are joining a market already crowded with wealthy foreigners looking to take advantage of the weak dollar, brokers said.

Robby Browne, a Corcoran broker, said he had several wealthy clients seeking trophy properties but had nothing to show them that was “good to buy.” He noted that a town house at 92 Charles Street, owned by Armon Bar-Tur, a founder of SafeHarbor Capital Partners, a real estate investment firm, went into contract less than two weeks after it was listed late last month.

When sales first began to pick up over the summer, brokers say, some of the best-priced listings were sold; they have not been replaced by a new supply of similar listings.

Buyers who might have been self-conscious about buying luxury apartments in the midst of the recession are now back in the market, said Kirk Henckels, the director of Stribling Private Brokerage. “Now when you can say you bought it at a third off of its previous value, it is not quite so embarrassing,” he said. “You look smart.”

Nowhere is the luxury drought more apparent than at 15 Central Park West, the new condo at West 62nd Street, which not long ago had a listing for $80 million. That unit, a 5,200-square-foot four-bedroom, finally sold in September for $37 million.

A three-bedroom owned by Beny Alagem, the founder of Packard Bell Electronics, was listed for $24 million and sold at the end of September for $19.9 million. An apartment listed for $15.5 million is now in contract.

Now only 11 smaller apartments are on the market, with asking prices ranging from $3.2 million to $13.9 million. At the recent sales rate, that would amount to a three or four months’ supply.

The buyer of Mr. Alagem’s unit, Stuart Peterson, an investor in YouTube before it was sold to Google, also wanted a staff apartment. So, property records show, he paid $1.625 million for a 463-square-foot studio in the building, which works out to $3,510 a square foot. That comes close to matching the original sale prices for some smaller one-bedrooms facing Broadway rather than Central Park.

Arthur Zeckendorf, who developed the property with his brother, William Lie Zeckendorf, said they had decided to sell one of their own two staff apartments because “they approached us.”

Last edited by dnobsemajdnob; November 23rd, 2009 at 06:09 PM.
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Old November 25th, 2009, 02:39 AM   #24
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NAAAAAA....
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Old November 26th, 2009, 03:51 PM   #25
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What is that supposed to mean?
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Old June 17th, 2010, 03:12 PM   #26
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all pics from WNY:



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Old June 17th, 2010, 04:49 PM   #27
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this tower may very well be over 1000ft. extell has enough air rights to build an even taller tower than its carnegie 57.

according to NoyokA, WNY:
Quote:
The site itself 225 west 57th street has 234,075 square feet.
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Old June 17th, 2010, 06:50 PM   #28
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That would be awesome.
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Old July 9th, 2010, 10:34 PM   #29
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Indeed, but apparently there is nothing known about the design yet?
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Old July 10th, 2010, 01:11 AM   #30
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Do we even know when this building supposed to be demolished to the ground?
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Old July 10th, 2010, 02:46 AM   #31
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All of the four buildings that occupy this site are empty, except for one which is empty except for a food market that occupies the ground floor. Demolition should start in 2011.
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Old July 13th, 2010, 03:16 PM   #32
eland
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I hope they don't demolish the beautifal building on the right in the first photo.
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Old July 14th, 2010, 07:33 AM   #33
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That building is landmarked and can't be demolished. However, the developer purchased all of its unused air rights.
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Old August 10th, 2010, 08:48 PM   #34
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Yay! More historic buildings on 57th ground to powder for a huge glass prong!

Whoopie!
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Old August 11th, 2010, 03:49 AM   #35
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Quite likely, 225 W 57th is one of the "other projects" that Barnett is raising money for.

http://www.thenational.ae/apps/pbcs....708099960/1005


Another bite at Big Apple
Bradley Hope



Last Updated: August 09. 2010 6:10PM UAE / August 9. 2010 2:10PM GMT
The Carnegie 57 designed by Christian de Portzamparc when finished will dwarf Carnegie Hall. Francois Guillot / AFP
Since the fall of Lehman Brothers in September 2008, hundreds of ambitious property projects in New York City have either stalled or been abandoned.

But now, thanks to funding from Abu Dhabi’s Aabar Investments, one developer is returning to the high-risk game of building sky-rises in the Big Apple.

The 306-metre Carnegie 57, located at 157 West 57th St, will not only be the tallest residential tower in New York, with designs by the “starchitect” Christian de Portzamparc, but the site is one street back from Central Park.

Residents of the 136 premium flats on the top 52 floors will have views that stretch the length of the park. The lower part of the building will be a five-star Park Hyatt Hotel. The project’s total price tag: US$1.3 billion (Dh4.77bn).

Gary Barnett, the president of Extell Development, said the foundations had been poured and the main construction work was expected to start this week.

Mr Barnett predicted the tower, with a completion date of 2012 or 2013, would open just as the economy was starting to pick up. “If you can raise the money, now is the time to begin investing in New York,” he said. “There is a realisation from the Middle East that this is an opportune time to invest.”


Mr Barnett, who has held talks with major investors around the Gulf, said he was trying to raise more funds for future New York City projects
from investors in Abu Dhabi, Dubai, Oman and Saudi Arabia.

Aabar, an Abu Dhabi investment company owned by the Government and public investors, has specialised in taking stakes in high-profile companies.

Last year it teamed with Mercedes-Benz to buy the winning Formula 1 team Brawn GP, now rebranded as Mercedes GP Petronas.


It also owns parts of the space tourism company Virgin Galactic and the luxury car maker Spyker.

As well, the company has signalled its interest in becoming a major property developer in Abu Dhabi, buying up Dh5bn of land and hiring a chief executive of property, Ibrahim Eskiocak.

This latest investment compares with Abu Dhabi Investment Council’s purchase of 75 per cent of the Chrysler building in New York in 2008.



Aabar paid for three quarters of the initial financing of Carnegie 57, giving it a “significant equity stake” in the project, said Mr Barnett, who is now beginning discussions with banks to obtain a construction loan to finance the rest of the building. “We expect financing to be available on a conservative basis,” he said.

Mr Barnett speaks of the new tower in superlatives: it is located on the “best site in New York”; it will have the “best apartments”; the hotel will be “amazing”.



“I think it’s going to be one of the best, if not the best, buildings in New York City,” he says.

One unrivalled feature will be the $50 million penthouse, whose owner will have the highest apartment in the city.

So-called “super-tall” buildings are typically not residential, but there is a growing trend toward having high-altitude apartments as construction technology allows developers to stop the top floors swaying in the wind.



The Burj Khalifa in Dubai, well over twice the size of Carnegie 57, is the most important example of a super-tall residential building.

Apartment prices will start at about $3m, with a sales push expected to start next spring.

“I think it caters to a tremendous mix,” Mr Barnett said. “From wealthy families to people who have done exceedingly well in business to retirees who want to live in a vibrant city. We expect buyers from China, India and the Middle East.

“It’s about people who want to own something in one of the two universal cities in the world.”
Mr Barnett’s optimism about the project comes as small signs of recovery begin to show in the New York property market. Several of the city’s established funds have acquired buildings in deals worth as much as $500m.

Noah Rosenblatt, an analyst at the property consultancy UrbanDigs, wrote in a blog post last week that he expected “upward pressure in quarterly reports into late 2010 or early 2011”.



Second-quarter prices stabilised,while transactions were up, according to the brokerage Prudential Douglas Elliman Real Estate.

The average price of an apartment in Manhattan was $1,432,712 – equal to prices at the end of 2007 but a drop of 21.5 per cent from the peak at the end of 2008.

“Since the beginning of the year, sales activity has been significantly higher compared to the early quarters of 2009, immediately following the Lehman Brothers bankruptcy – the credit crunch tipping point of September 15, 2008,” the brokerage said in its second-quarter report.



“High unemployment levels, ‘shadow inventory’ and tight credit are challenges that continue to face the market, but general market conditions are significantly improved over the same period a year ago.”



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Old September 29th, 2010, 03:03 PM   #36
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One of the four buildings on the 58th Street side of this parcel was just razed.


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Old November 6th, 2010, 04:49 AM   #37
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Extell, the developers of this site and Carnegie 57, filed more demolition permits last week.

http://a810-bisweb.nyc.gov/bisweb/Wo...70&requestid=2
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Old November 18th, 2010, 05:47 AM   #38
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What's too crowded?

The photo posted above shows one of several parcels on the 58th Street side of this site. By NYC standards, this is actually a large site and is bigger than the site on which Extell is constructing the 300+m Carnegie 57 tower or on which Hines will build the 300+m Torre Verre.
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Old November 18th, 2010, 09:28 AM   #39
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YES
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Old November 18th, 2010, 12:11 PM   #40
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Don't respond to the trolls people.
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