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Old September 3rd, 2012, 03:06 PM   #3381
Rich-E36
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Quote:
Originally Posted by RobertWalpole View Post
Yes. It's the end of summer Labor Day holiday.
oh i see that makes sense, well have a nice day then
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Old September 3rd, 2012, 03:17 PM   #3382
RobertWalpole
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Cheers. You too, mate. Didn't the same holiday occur last weekend in the UK?
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Old September 3rd, 2012, 03:37 PM   #3383
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Cheers. You too, mate. Didn't the same holiday occur last weekend in the UK?
Yer we had Monday off for our August bank holiday.
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Old September 3rd, 2012, 05:24 PM   #3384
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Originally Posted by RobertWalpole View Post
It's very possible that it's not financed yet, and they're building only the six story retail portion at this time. That's the only structure for which CIM has filed a permit. Nevertheless, this clearly will rise.
You sure no permits have been approved? Unless I'm mistaken it seems like they're cleared to go on the DOB website.

http://a810-bisweb.nyc.gov/bisweb/Jo...llnumbhous=440

I can't speak to the status of the financing component however...
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Old September 3rd, 2012, 06:00 PM   #3385
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I misspoke. You're correct, SBarn. Thanks.
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Old September 3rd, 2012, 06:21 PM   #3386
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Happy to share some good news. Cheers.
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Old September 3rd, 2012, 07:30 PM   #3387
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I assume that it is financed, since they filed this permit on 31 Aug 2012:

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01
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Old September 3rd, 2012, 08:49 PM   #3388
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Quote:
Originally Posted by Nuwanda View Post
My opinion is that NYC is beautiful *precisely* because it tears down and builds anew.

The ESB, Chrysler, and countless others are in no danger of destruction. Their commercial and aesthetic value are too great. They stand, the others can fall, and new ESBs and Chryslers may be built in their place.
I'm not talking about a few iconic scrapers and buildings from the art-deco period or whatnot. I'm talking about miles of unbroken low to mid rise beauties that would have given pre-war london a run for its money! Have you seen photos of NY from that period?

However, as I said, NY probably made some kind of unspoken decision to forget the past in favor of creating space for expanding commerce. If it had not who knows if it would have achieved the same status in the US or the world.


HK is another example but far more extreme. It's skyline is beautiful in its modernity, but the old colonial stock that they replaced were far nicer on street level. It made a similar choice to become a financial hub and go ahead with modern development, forced upwards like NY due to its limiting geography but it went much farther for various reasons.. Thankfully NY didn't lose many of its older buildings, but sadly it lost enough beauties that were replaced by awful towers to make a major difference in midtown.
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Old September 3rd, 2012, 11:01 PM   #3389
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Did you see the buildings torn town for 1715 Broadway and 250W55th? They were hideous. And a few other ugly and mediocre buildings were also torn town recently.
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Old September 4th, 2012, 12:46 AM   #3390
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WSJ Article from May 29, 2012 with regards to financing for the tower.

"CIM Group is expected to close in June on the financing for its planned 1,395-foot residential tower on the site of the old Drake Hotel in Midtown, according to people familiar with the matter."

http://online.wsj.com/article/SB1000...645869506.html
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Old September 4th, 2012, 03:07 AM   #3391
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Looks like great news!
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Old September 4th, 2012, 12:29 PM   #3392
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Thats brilliant news, Looks like the Park Av cam is down again.
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Old September 4th, 2012, 04:15 PM   #3393
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Without actually going down to the site and talking to somebody, does anybody know if there is any way of finding out who the contractor is that will be doing the upper structure
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Old September 4th, 2012, 04:22 PM   #3394
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Quote:
Originally Posted by Carpenter157 View Post
Without actually going down to the site and talking to somebody, does anybody know if there is any way of finding out who the contractor is that will be doing the upper structure
i have read the main contractor is to be McGraw Hudson Construction Corporation

Edit: Park Avenue cam is now working again.

Last edited by Rich-E36; September 4th, 2012 at 05:09 PM. Reason: Additional Info
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Old September 4th, 2012, 05:31 PM   #3395
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Ughhh, still scooping out dirt. This is really dragging out. At this pace I don't see how they'll get to street level by year end.
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Old September 4th, 2012, 05:36 PM   #3396
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Ughhh, still scooping out dirt. This is really dragging out. At this pace I don't see how they'll get to street level by year end.
Thats what i thought they must be near the end now, Some truck loads of stone has gone in and i am sure i saw them lower in a skid stear digger.
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Old September 4th, 2012, 06:32 PM   #3397
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Quote:
Originally Posted by 600West218 View Post
Ughhh, still scooping out dirt. This is really dragging out. At this pace I don't see how they'll get to street level by year end.
Patience, this last part was always going to take extra time given the tight surroundings. I am still thinking the foundation work will be finished this week.
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Old September 4th, 2012, 06:34 PM   #3398
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I know I have asked this before, but if they are still digging, why is this in the U/C thread and not categorized as "prep"?
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Old September 4th, 2012, 06:35 PM   #3399
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Higher Tower, Higher Prices: Is 432 Park Avenue Upping Its Asking Prices?
By Kim Velsey


Prices may rise in tandem with the tower.
With everyone else tacking on millions to the asks for their apartments, we guess 432 Park Avenue wanted to get in on the action, even if the most soaring of soaring residential towers has yet to break ground. Why should One57 and 15 Central Park West rake in all the cash? Especially when 432 Park Avenue is set to be the tallest residential building in the city at 1,395 feet?
In her weekly luxury market report, Donna Olshan of Donna Olshan Realty writes that sources tell her that the blended average asking price in the building will be about $5,800-a-square foot. Last we heard (when The Wall Street Journal snagged a brochure for the luxury high-rise this June), the average ask was at $4,500-a-square foot. One57 is still more expensive even with the price increase, offering some bargain prices of around $3,500-a-square foot on the lower levels, but charging as much as $13,000-a-sqaure foot for the penthouse (which is currently in contract for somewhere north of $90 million).

Of course, we’d expect some more price adjustments before sales start at the Harry Macklowe/CIM project (although Ms. Olshan said that the building is due to come on the market as soon as this fall!). Even One57, which just recently topped out, scrambled to bump their asking prices up after Sandy Weill sold his 15 CPW penthouse for $88 million last December.

So what kinds of luxuries and amenities can residents at the 117-unit building expect? Designed by Rafael Viñoly with interiors by Deborah Berke, the building is set to offer residents onsite housekeeping, valet parking, a 75-foot pool, a yoga studio, a fitness center, a billiards room, a children’s playroom, a screening room, six elevators, a landscaped sculpture garden and a a 64-seat private restaurant that opens onto a huge terrace. Also, owners will be able to buy offices below the 34th floor for those who hate to walk/take a Town Car to work.

Not that anyone will be seeing any of these touches anytime soon. The building is not expected to be finished until 2015.

[email protected]
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Old September 4th, 2012, 06:57 PM   #3400
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Quote:
Originally Posted by RobertWalpole View Post
Higher Tower, Higher Prices: Is 432 Park Avenue Upping Its Asking Prices?
By Kim Velsey


Prices may rise in tandem with the tower.
With everyone else tacking on millions to the asks for their apartments, we guess 432 Park Avenue wanted to get in on the action, even if the most soaring of soaring residential towers has yet to break ground. Why should One57 and 15 Central Park West rake in all the cash? Especially when 432 Park Avenue is set to be the tallest residential building in the city at 1,395 feet?
In her weekly luxury market report, Donna Olshan of Donna Olshan Realty writes that sources tell her that the blended average asking price in the building will be about $5,800-a-square foot. Last we heard (when The Wall Street Journal snagged a brochure for the luxury high-rise this June), the average ask was at $4,500-a-square foot. One57 is still more expensive even with the price increase, offering some bargain prices of around $3,500-a-square foot on the lower levels, but charging as much as $13,000-a-sqaure foot for the penthouse (which is currently in contract for somewhere north of $90 million).

Of course, we’d expect some more price adjustments before sales start at the Harry Macklowe/CIM project (although Ms. Olshan said that the building is due to come on the market as soon as this fall!). Even One57, which just recently topped out, scrambled to bump their asking prices up after Sandy Weill sold his 15 CPW penthouse for $88 million last December.

So what kinds of luxuries and amenities can residents at the 117-unit building expect? Designed by Rafael Viñoly with interiors by Deborah Berke, the building is set to offer residents onsite housekeeping, valet parking, a 75-foot pool, a yoga studio, a fitness center, a billiards room, a children’s playroom, a screening room, six elevators, a landscaped sculpture garden and a a 64-seat private restaurant that opens onto a huge terrace. Also, owners will be able to buy offices below the 34th floor for those who hate to walk/take a Town Car to work.

Not that anyone will be seeing any of these touches anytime soon. The building is not expected to be finished until 2015.

[email protected]

Let me get this straight - a yoga room, a billiards room and kids play room are supposed to convince rich people that a residence here is worth tens of millions of dollars.
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