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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old May 19th, 2016, 05:24 AM   #7021
Ghostface79
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http://urbanismvsmodernism.blogspot.com


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Old May 21st, 2016, 08:04 PM   #7022
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220 is right behind left side of the core.

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Old May 22nd, 2016, 06:45 AM   #7023
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This building has the weirdest core I've ever seen.
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Old May 22nd, 2016, 07:52 AM   #7024
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I heard from someone in the industry that the developer is possibly planning on capping the structure at 23 floors until the ultra-lux market recovers, probably within the next 4-5 years. From there they will complete the structure. Not entirely sure that this is true, but wanted to give an fyi.
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Old May 22nd, 2016, 03:33 PM   #7025
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Good luck finding rich tenants who would put up with that.
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Old May 22nd, 2016, 04:34 PM   #7026
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Quote:
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I heard from someone in the industry that the developer is possibly planning on capping the structure at 23 floors until the ultra-lux market recovers, probably within the next 4-5 years. From there they will complete the structure. Not entirely sure that this is true, but wanted to give an fyi.
I wouldn't be surprised if true. I sort of expected worse case, Extell goes rental instead of condos on this one. At least temporarily. One57 had a small number of rentals planned from the beginning and when sales slowed they added more units as rentals. Now they readjusted there prices on those units and put them back on the market.

A full stop on this would be very disappointing. But I suppose not out of the realm of possibility given the fact there are still many units unsold in One57. It's one thing to compete against other developments for sales like 432 Park, 520 Park, 111... but a developer really doesn't want to have to compete against their own projects (One57 and 225) at the same time.
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Old May 22nd, 2016, 10:33 PM   #7027
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I wouldn't be surprised if true. I sort of expected worse case, Extell goes rental instead of condos on this one. At least temporarily. One57 had a small number of rentals planned from the beginning and when sales slowed they added more units as rentals. Now they readjusted there prices on those units and put them back on the market.

A full stop on this would be very disappointing. But I suppose not out of the realm of possibility given the fact there are still many units unsold in One57. It's one thing to compete against other developments for sales like 432 Park, 520 Park, 111... but a developer really doesn't want to have to compete against their own projects (One57 and 225) at the same time.
I dont think it would make sense to do that. The most expensive part of the development is the land and base. The part of the tower that is least valuable is the lowrise (except the street level retail).

Also if you dont forget this has a hotel in the low rise section. If they stopped at 25 floors they would basically just be building the Nordstrom store and the hotel.

Also to add Barnett talked about this recently and he is not worried about turning a profit. He said he can come down a bit on the prices and still make a healthy return.
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Old May 23rd, 2016, 07:18 AM   #7028
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Quote:
Originally Posted by TheIllinoisan View Post
I heard from someone in the industry that the developer is possibly planning on capping the structure at 23 floors until the ultra-lux market recovers, probably within the next 4-5 years. From there they will complete the structure. Not entirely sure that this is true, but wanted to give an fyi.
As someone who actually works for a building trade involved in this project, I can tell you that this post is categorically false.
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Old May 24th, 2016, 01:02 AM   #7029
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Oh shit, it's WI_1982.

And yeah, half my company left to go knock tin on these supertall projects, and I haven't heard a peep about any of them shutting down.
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Old May 24th, 2016, 08:17 AM   #7030
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http://newyorkyimby.com/2016/05/cons...ark-tower.html
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Old May 24th, 2016, 06:40 PM   #7031
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I would take everything I hear with a grain of salt in that regard. Not saying it's impossible but I'm not going to be super bummed out until we get confirmation.
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Old May 25th, 2016, 04:39 PM   #7032
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Cool pic!
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Old May 26th, 2016, 01:22 AM   #7033
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Can someone tell me at when time we can see cpt in the skyline ??!!
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Old May 26th, 2016, 01:50 AM   #7034
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Can someone tell me at when time we can see cpt in the skyline ??!!
probably boutta year. Maybe less.
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Old May 26th, 2016, 11:08 PM   #7035
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In case That the spire comes back , This Tower Will have a huge impacte on the skyline including midtown
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Old May 26th, 2016, 11:28 PM   #7036
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In case That the spire comes back , This Tower Will have a huge impacte on the skyline including midtown
Um... it's 1,570 feet tall without the spire. Pretty sure it will still have an impact.
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Old May 27th, 2016, 03:17 AM   #7037
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about as much impact as your mom falling off the couch
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Old May 27th, 2016, 06:17 AM   #7038
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After looking at the two last pics, I can't help but wonder if the owners of the adjacent tower didn't complain about losing the view from their windows.
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Old May 28th, 2016, 03:45 AM   #7039
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Quote:
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I would take everything I hear with a grain of salt in that regard. Not saying it's impossible but I'm not going to be super bummed out until we get confirmation.
I'm in that boat now too after I've given it more thought.

Would anyone really expect Extell to tell their contractors they're planning to stop early? If they decide to pause, they just stop paying them. Then notify them to build a cap or secure everything until they feel comfortable to resume.

People like to share secrets. But it's really hard to believe Extell would let something like this get out there. Could be media spreading lies, another developer trying to undermine a competitor. Who knows.

But I think if construction were to stop, it'll be sudden, and completely outta the blue.
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Old May 28th, 2016, 07:09 PM   #7040
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This is very nice to see a first roof above the tip of esb
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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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