NEW YORK | 225 West 57th Street | 472m | 1550ft | 88 fl | Prep - Page 5

RobertWalpole · September 27th, 2011, 03:22 AM

The following was filed with the DOB on 26 Sep. 2011. I can't wait for renderings for this project.

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=02

rencharles · September 27th, 2011, 03:56 AM

It's true. I also.

This is a very unknown yet, but we know it's the same company responsible for One57, and still has the rights to air 30% more than the One57. Making it possibly one of the best residential projects of this decade.

Fingers crossed it all works out.

RobertWalpole · September 27th, 2011, 04:34 AM

I agree.

MikeyG · September 30th, 2011, 01:52 AM

what the update on this building now?

RobertWalpole · November 18th, 2011, 11:40 PM

As of 17 Nov. 2011, substantial progress has been made on demolition. Extell has only 97 apartments to sell at One57, and given the red hot sales at other new developments, they should sell quickly. Therefore, hopefully we'll see renderings of this 300m+ tower in 2012!

Myster E · November 19th, 2011, 12:14 AM

Another 300m tower for NY. The boom sure is kicking in despite the threat of another recession.

RobertWalpole · November 19th, 2011, 03:03 AM

The worldwide recession is actually good for NY. The dollar is cheap and safe compared to most world currencies, and property in NY and London is a safe investment.

bennyboo · November 19th, 2011, 07:09 AM

world might be going into recession but as of how it looks now id say USA is in a pretty good comparatively.

azn_man12345 · November 19th, 2011, 06:47 PM

^I dunno about the US, but NYC is very good

Kanto · November 19th, 2011, 07:09 PM

If somebody goes into recession it'll be us, the Euro zone

RobertWalpole · November 19th, 2011, 07:43 PM

Quote:

Originally Posted by Kanto

If somebody goes into recession it'll be us, the Euro zone

The Eurozone already is in recession. The US took a Keynsian approach to the 2008 downturn, and Europe took the opposite approach. The US fared much better, and this demonstrated the validity of Keyne's theories.

Nonetheless, if the Euro goes bust, the entire world will suffer a very serious recession. US Banks probably hold a lot of collateral default swaps and other financial instruments that will sustain huge losses if European countries default and European banks fail. Since the US and Europe are the developing world's primary markets, those countries (i.e., China, Brazil, etc.) will suffer too. No one is safe. The Euro was a very bad idea from the start.

RobertWalpole · November 19th, 2011, 07:45 PM

Quote:

Originally Posted by azn_man12345

^I dunno about the US, but NYC is very good

New York has been very good because Wall Street has been doing well. However, Wall Street is now suffering from layoffs. That being said, high-end NY property will still do well due to the cheap dollar and strong overseas demand. In an uncertain, global financial landscape, property in NY and London is better than investments in US treasuries or gold.

azn_man12345 · November 20th, 2011, 08:02 PM

So uh... Why is this project still under "Skyscrapers"? Isn't it more or less confirmed that it'll be at least as tall as One57?

RobertWalpole · November 21st, 2011, 12:12 AM

Since no official numbers have been released, I guess the moderators want to "play it safe." That being said, with roughly 1m sf, a residential tower will be well over 300m. The rumour is that this will be around 380m tall.

azn_man12345 · November 21st, 2011, 02:08 AM

Wow. That's almost as tall as the ESB. Great news. I hope the rumor turns out to be true

RobertWalpole · November 21st, 2011, 05:24 PM

More good news which should make it easy for Extell to finance 225 W57th:

therealdeal.com
High-end home shortage could help One57
November 21, 2011 09:30AM

From left: Rubicon Property CEO Jason Haber and a rendering of Extell's One57A lack of new construction, an influx of international buyers and prices still far from peaks have fueled a shortage of high-end apartments in New York City, Bloomberg News reported.

There were 832 homes on the market asking at least $5 million in New York City in October, according to Streeteasy.com, down 9.5 percent from the same time two years ago. Simultaneously, sales of Manhattan luxury apartments increased 17 percent in the third quarter from the prior-year quarter, according to Miller Samuel. There were more sales of at least $20 million in the third quarter this year than during any time since the third quarter of 2008.

Miller Samuel CEO Jonathan Miller traced the beginning of the trend to last November when William Lie Zeckendorf sold his 15 Central Park West penthouse for $40 million and a Superior Ink penthouse went for $31.5 million. By April, the number of pending contracts in the $5 million and greater price range rose to 152, the biggest resurgence since 2008, according to UrbanDigs.com.

The shortage is becoming severe enough that Rubicon Property has sent letters to clients with high-end homes gauging their interest in selling."That's a sign of the times," CEO Jason Haber said. "This is a ready, willing and able buyer and we can't find the product for him."

Bloomberg News said this could be good news for Extell Development's One57, which will launch sales later this month, two years ahead of other high end development. [Bloomberg News]

http://www.bloomberg.com/news/2011-1...nd-jumps.html#

RobertWalpole · November 30th, 2011, 12:00 AM

Work on this site was in full swing on 29 Nov. 2011. The school, which was located at 220 W58th (on the northeast portion of the site) is gone, as is 217W57th. 221 W57th is nearly gone, and demolition is proceeding on 225 W58th.

JohnFlint1985 · November 30th, 2011, 04:04 AM

Quote:

Originally Posted by RobertWalpole

Work on this site was in full swing on 29 Nov. 2011. The school, which was located at 220 W58th (on the northeast portion of the site) is gone, as is 217W57th. 221 W57th is nearly gone, and demolition is proceeding on 225 W58th.

I think that all this activity in American big real estate market is due to Europe's situation. Investors look for anything that they can invest and NYC real estate market seems to attract them the most.

I only don't get why WTC don't get some real tenants...

RobertWalpole · December 1st, 2011, 11:06 PM

Today

KZP1000s
image hosted on flickr

A few months ago:

image hosted on flickr

Hendycfc · December 2nd, 2011, 08:48 PM

So, hopefully one more month and this will be gone?

The beginning of foundation working at the start of 12'?

November 19th, 2011, 07:09 PM	#90
Kanto Roof height crusader Join Date: Apr 2011 Location: S-4, Papoose Lake Posts: 4,523 Likes (Received): 264	If somebody goes into recession it'll be us, the Euro zone __________________ The Outbreak New Browser Online Stretegy Game beta round has started http://www.the-outbreak.com/ Be a mayor of a town in difficult times of an unknown virus pandemic killing millions of people across the United States Build your town, expand it, trade, negotiate and wage war in a unique and original online real time strategy game If you're interested in this game, PM me and I will guide you through your first moves of building a town

November 21st, 2011, 05:24 PM	#96
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	More good news which should make it easy for Extell to finance 225 W57th: therealdeal.com High-end home shortage could help One57 November 21, 2011 09:30AM From left: Rubicon Property CEO Jason Haber and a rendering of Extell's One57A lack of new construction, an influx of international buyers and prices still far from peaks have fueled a shortage of high-end apartments in New York City, Bloomberg News reported. There were 832 homes on the market asking at least $5 million in New York City in October, according to Streeteasy.com, down 9.5 percent from the same time two years ago. Simultaneously, sales of Manhattan luxury apartments increased 17 percent in the third quarter from the prior-year quarter, according to Miller Samuel. There were more sales of at least $20 million in the third quarter this year than during any time since the third quarter of 2008. Miller Samuel CEO Jonathan Miller traced the beginning of the trend to last November when William Lie Zeckendorf sold his 15 Central Park West penthouse for $40 million and a Superior Ink penthouse went for $31.5 million. By April, the number of pending contracts in the $5 million and greater price range rose to 152, the biggest resurgence since 2008, according to UrbanDigs.com. The shortage is becoming severe enough that Rubicon Property has sent letters to clients with high-end homes gauging their interest in selling."That's a sign of the times," CEO Jason Haber said. "This is a ready, willing and able buyer and we can't find the product for him." Bloomberg News said this could be good news for Extell Development's One57, which will launch sales later this month, two years ahead of other high end development. [Bloomberg News] http://www.bloomberg.com/news/2011-1...nd-jumps.html# Last edited by RobertWalpole; November 21st, 2011 at 08:13 PM.

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September 27th, 2011, 03:22 AM	#81
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	The following was filed with the DOB on 26 Sep. 2011. I can't wait for renderings for this project. http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=02

September 27th, 2011, 03:56 AM	#82
rencharles We will never forget Join Date: Apr 2008 Posts: 476 Likes (Received): 0	It's true. I also. This is a very unknown yet, but we know it's the same company responsible for One57, and still has the rights to air 30% more than the One57. Making it possibly one of the best residential projects of this decade. Fingers crossed it all works out.

September 27th, 2011, 04:34 AM	#83
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	I agree.

September 30th, 2011, 01:52 AM	#84
MikeyG Registered User Join Date: May 2010 Posts: 60 Likes (Received): 0	what the update on this building now?

November 18th, 2011, 11:40 PM	#85
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	As of 17 Nov. 2011, substantial progress has been made on demolition. Extell has only 97 apartments to sell at One57, and given the red hot sales at other new developments, they should sell quickly. Therefore, hopefully we'll see renderings of this 300m+ tower in 2012!

November 19th, 2011, 12:14 AM	#86
Myster E Registered User Join Date: Oct 2006 Location: Birmingham Posts: 1,288 Likes (Received): 5	Another 300m tower for NY. The boom sure is kicking in despite the threat of another recession.

November 19th, 2011, 03:03 AM	#87
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	The worldwide recession is actually good for NY. The dollar is cheap and safe compared to most world currencies, and property in NY and London is a safe investment.

November 19th, 2011, 07:09 AM	#88
bennyboo Registered User Join Date: Jun 2010 Location: seattle Posts: 486 Likes (Received): 5	world might be going into recession but as of how it looks now id say USA is in a pretty good comparatively.

November 19th, 2011, 06:47 PM	#89
azn_man12345 Registered User Join Date: Dec 2010 Location: Wichita Posts: 1,171 Likes (Received): 3	^I dunno about the US, but NYC is very good

November 20th, 2011, 08:02 PM	#93
azn_man12345 Registered User Join Date: Dec 2010 Location: Wichita Posts: 1,171 Likes (Received): 3	So uh... Why is this project still under "Skyscrapers"? Isn't it more or less confirmed that it'll be at least as tall as One57?

November 21st, 2011, 12:12 AM	#94
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	Since no official numbers have been released, I guess the moderators want to "play it safe." That being said, with roughly 1m sf, a residential tower will be well over 300m. The rumour is that this will be around 380m tall.

November 21st, 2011, 02:08 AM	#95
azn_man12345 Registered User Join Date: Dec 2010 Location: Wichita Posts: 1,171 Likes (Received): 3	Wow. That's almost as tall as the ESB. Great news. I hope the rumor turns out to be true

November 30th, 2011, 12:00 AM	#97
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	Work on this site was in full swing on 29 Nov. 2011. The school, which was located at 220 W58th (on the northeast portion of the site) is gone, as is 217W57th. 221 W57th is nearly gone, and demolition is proceeding on 225 W58th.

December 1st, 2011, 11:06 PM	#99
RobertWalpole SSP is provincial! Join Date: Mar 2010 Posts: 3,405 Likes (Received): 160	Today KZP1000s image hosted on flickr A few months ago: image hosted on flickr

December 2nd, 2011, 08:48 PM	#100
Hendycfc Registered User Join Date: Jun 2011 Location: Glasgow Posts: 662 Likes (Received): 14	So, hopefully one more month and this will be gone? The beginning of foundation working at the start of 12'?