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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old September 29th, 2012, 08:33 PM   #521
Strykr
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I wouldn't be surprised if Extell finances a good portion of this tower itself. They didn't get hit hard in the real estate bust, so I'd assume they have a deep pockets of capital to draw from.
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Old September 29th, 2012, 09:00 PM   #522
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Well, 157 will certainly make them even deeper For residential skyscrapers NYC is the place to be at the right time, which is now
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Old October 1st, 2012, 06:25 PM   #523
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I drove by in a taxi on 1 Oct 2012 and noted that a large excavator is on the site. Moreover, the new Morton Williams store down the street has a paper poster in the window which says: "Coming soon!" (Of course, MW's permanent store-front sign has been hanging for about two weeks, as well.)

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Old October 1st, 2012, 07:03 PM   #524
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maybe a sign for preperations going on already?
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Old October 1st, 2012, 07:22 PM   #525
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There will be no delay in this. Extell will strike while the iron is hot. It will be interesting to see how tall this is. I predict that 432 Park will be 432m, as its name suggests. Extell likely will go somewhat higher to seize the crown.
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Old October 1st, 2012, 08:44 PM   #526
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Is it just me or are the new residential tower in NYC rising really quickly after their announcement? How did this NYC residential boom evolve? Did it truly explode with buildings like Beekman and 157 or does it have older roots?
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Old October 1st, 2012, 08:59 PM   #527
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Quote:
Originally Posted by RobertWalpole View Post
There will be no delay in this. Extell will strike while the iron is hot. It will be interesting to see how tall this is. I predict that 432 Park will be 432m, as its name suggests. Extell likely will go somewhat higher to seize the crown.
i would love to see something with over 500m here
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Old October 1st, 2012, 09:11 PM   #528
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I would too, but I doubt it. I'm guessing a max of 450m.
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Old October 1st, 2012, 10:40 PM   #529
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Quote:
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Is it just me or are the new residential tower in NYC rising really quickly after their announcement? How did this NYC residential boom evolve? Did it truly explode with buildings like Beekman and 157 or does it have older roots?
I agree with RW that Extell shouldn't have too much trouble finding financing for this, given the high end market and Nordstrom's investment, they'll both want this to get built sooner rather than later. But until that happens I think we still need to realize that this isn't funded, yet.

I'm not sure what you mean by your other questions. The answers are very different if you're referring to rentals or high end condos.
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Old October 1st, 2012, 11:05 PM   #530
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Given the success of One57, financing should not be a problem, I guess.
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Old October 1st, 2012, 11:10 PM   #531
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Quote:
Originally Posted by yankeesfan1000 View Post
I agree with RW that Extell shouldn't have too much trouble finding financing for this, given the high end market and Nordstrom's investment, they'll both want this to get built sooner rather than later. But until that happens I think we still need to realize that this isn't funded, yet.

I'm not sure what you mean by your other questions. The answers are very different if you're referring to rentals or high end condos.
With residential market I meant market of luxurious apartments and condos like those in the Trump Tower, Beekman, 157, Tower Verre, 432 park or this building
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Old October 1st, 2012, 11:39 PM   #532
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Well Beekman and Trump don't really belong in that group. Beekman's a rental downtown, and Trump was built in 2001 and doesn't have Central Park views. This, 432, One57 and Verre are/will be all brand new high rise condos with Central Park views.

The issue is is that normal investment vehicles are becoming increasingly risky, there's still a lot of uncertainty moving forward with the global economy, and the dollar is relatively weak. You could write a dissertation on it, but current instability and future uncertainty is the easiest way to sum it up. As a result of that the wealthy want to park their money in a more traditional, physical asset class, like real estate in New York or London, where real estate holds value exceptionally well, and appreciates steadily.

Edit: In addition what's also driving up prices, in condos and rentals, is there aren't a lot of new units being built because banks don't have as much money to lend. As a result, inventory in Manhattan is at its lowest point in 7 and a half years.

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Old October 2nd, 2012, 12:27 AM   #533
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The weak dollar makes NY even more attractive. Bernanke's third round of QE makes NY real estate an even better buy for the uber-rich who seek safe-havens.
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Old October 2nd, 2012, 09:18 PM   #534
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As per the sign in the window at Morton Williams' new store, it's "Coming in October!"
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Old October 3rd, 2012, 04:55 AM   #535
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Look, I would be satisfied with a building 350 meters here. But it is obvious that build a building over 400 meters would be very good.
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Old October 3rd, 2012, 01:55 PM   #536
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With that size it would already be an eyecatcher.
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Old October 3rd, 2012, 02:57 PM   #537
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Well, I personally won't be satisfied with anything shorter than 1WTC's 419 meters. however, since there have been many rumors that it will be not only the tallest in NYC, but also the tallest in the country I expect something arround 500 meters
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Old October 4th, 2012, 01:26 AM   #538
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I agree the United States needs a supertall with a roof height of at least 1,500 feet by now. We need to build something that will at least stay in the top 20 in the world in roof height for a little while. Willis Tower is 6th right now but will soon fall down through the ranks within the end of this decade.
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Old October 4th, 2012, 02:35 AM   #539
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For me, Willis Tower is unimaginably huge. Imagine if this one was taller
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Old October 4th, 2012, 02:36 AM   #540
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sigh, again with the ***** building height measuring contest?
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217 west 57th street, 225 west 57th street, central park south, cps, extell, new york, nordstrom tower, nyc, supertall

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