daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old March 7th, 2013, 11:31 PM   #61
tim1807
faster than buildings
 
tim1807's Avatar
 
Join Date: May 2011
Location: Den Helder
Posts: 10,325
Likes (Received): 5334

Nice to see them digging, there are already support girders.
tim1807 no está en línea   Reply With Quote

Sponsored Links
Old March 10th, 2013, 10:49 AM   #62
aquablue
BANNED
 
aquablue's Avatar
 
Join Date: Mar 2006
Posts: 1,750
Likes (Received): 229

This building is rather overrated. The gimmicky front facade is just uninspired IMO. I like curves, but this one just appears poorly thought out.
aquablue no está en línea   Reply With Quote
Old March 11th, 2013, 06:17 AM   #63
LouDagreat
High in the sky
 
LouDagreat's Avatar
 
Join Date: Jan 2013
Location: New York City
Posts: 378
Likes (Received): 150

Quote:
Originally Posted by RobertWalpole View Post
Fortunately for NY, it's a mega-tall city with an ocean of outstanding, pre-War short buildings.
I'd be nice to see more prewar-esque buildings developed, down to the facade details and setbacks at the top.
LouDagreat no está en línea   Reply With Quote
Old March 11th, 2013, 06:50 PM   #64
tim1807
faster than buildings
 
tim1807's Avatar
 
Join Date: May 2011
Location: Den Helder
Posts: 10,325
Likes (Received): 5334

Quote:
Originally Posted by aquablue View Post
This building is rather overrated. The gimmicky front facade is just uninspired IMO. I like curves, but this one just appears poorly thought out.
I don't see why, it's a rather unique design and it's place at the corner of Bryant Park makes it special imo.
tim1807 no está en línea   Reply With Quote
Old March 12th, 2013, 09:29 PM   #65
GeoDude
GeoDude
 
GeoDude's Avatar
 
Join Date: Mar 2009
Location: London, UK
Posts: 264
Likes (Received): 206

from bryant park i think its going to look great. especially the lighting at night. very similar scheme to bofa



__________________

@Chaserino
Architecture & Travel

USA - Canada - Mexico - Costa Rica - Brazil - Peru - Australia - New Zealand - China - England - France - Netherlands - Spain - Italy - Germany - Monaco - Vatican City - Czech Republic - Hungary - Turkey - Denmark - Sweden - Morocco - Portugal - Switzerland - Greece - Austria - Liechtenstein - Cyprus - Croatia - Belgium - Slovakia - United Arab Emirates - Poland - Ukraine - Romania - Ireland - Malta - Vietnam - Myanmar - Japan - India - Slovenia - South Africa - Zimbabwe - Zambia - Botswana - Israel
GeoDude no está en línea   Reply With Quote
Old March 14th, 2013, 09:30 AM   #66
aquablue
BANNED
 
aquablue's Avatar
 
Join Date: Mar 2006
Posts: 1,750
Likes (Received): 229

Quote:
Originally Posted by tim1807 View Post
I don't see why, it's a rather unique design and it's place at the corner of Bryant Park makes it special imo.
I find the front facade looks nicer at night with the LED lighting which has improved my opinion of this building.
aquablue no está en línea   Reply With Quote
Old March 14th, 2013, 11:21 PM   #67
Coddington
... Coddi ...
 
Join Date: Jul 2012
Location: Lyon
Posts: 755
Likes (Received): 262

Reminds me Tour EDF in Paris or Tour Oxygène in Lyon.
Coddington no está en línea   Reply With Quote
Old March 19th, 2013, 09:00 PM   #68
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Lofty aspirations for 7 Bryant Park

Quote:
Developer Hines hopes to get $200 per square foot for triplex penthouse with roof terrace

March 19, 2013 08:30AM

In the case of 7 Bryant Park, the new office tower by Hines, there’s a ring of truth in the expression: “Prices are going through the roof.”

Hines, according to the New York Post, is looking to command $200 per square foot for the 42,285-square-foot penthouse triplex at the top of the 28-story tower, on Sixth Avenue between 39th and 40th streets. The space comes with an alfresco roof terrace of just under 850 square feet “that has Bryant Park for its backyard,” Tommy Craig, a senior executive at Hines, told the Post.

Craig added that outdoor space traditionally had not been a priority in office towers, because the developer and tenants hadn’t valued it, but was coveted in Hines’ residential buildings, including the newly launched 56 Leonard, which is being developed with Izak Senbahar’s Alexico Group. A surge in demand by businesses for “common and interactive-encounter space” Craig said, led Hines to invest in the sprawling roof space at the new 457,000-square-foot tower, set to open in 2015.

CBRE’s Mary Ann Tighe, the chief leasing agent for the tower, dubbed the roof terrace the “first purpose-built outdoor space in an office building in Midtown.”

__________________
We are floating in space...

ChuckScraperMiami#1 liked this post
desertpunk no está en línea   Reply With Quote
Old April 11th, 2013, 06:02 PM   #69
GeoDude
GeoDude
 
GeoDude's Avatar
 
Join Date: Mar 2009
Location: London, UK
Posts: 264
Likes (Received): 206

by me from today 4-11-13

__________________

@Chaserino
Architecture & Travel

USA - Canada - Mexico - Costa Rica - Brazil - Peru - Australia - New Zealand - China - England - France - Netherlands - Spain - Italy - Germany - Monaco - Vatican City - Czech Republic - Hungary - Turkey - Denmark - Sweden - Morocco - Portugal - Switzerland - Greece - Austria - Liechtenstein - Cyprus - Croatia - Belgium - Slovakia - United Arab Emirates - Poland - Ukraine - Romania - Ireland - Malta - Vietnam - Myanmar - Japan - India - Slovenia - South Africa - Zimbabwe - Zambia - Botswana - Israel
GeoDude no está en línea   Reply With Quote
Old April 25th, 2013, 02:02 AM   #70
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Hines Tells The Story of 7 Bryant Park



Quote:
NEW YORK CITY-Serving up a reminder that new office inventory will soon come on the market, Hines officials on Tuesday presented the story of the company’s 7 Bryant Park to members of the local NAIOP chapter during a meeting in Midtown. As previously reported, the property is spec development and slated to open next year.

Calling the building “one of the projects that gets people inspired," Tommy Craig, senior managing director and head of Hines’ New York office noted that the structure includes 65,000 square feet of unutilized FAR from the adjacent building. That was purchased by Pacolet Milliken, a limited partner on the deal and a ground lessor. Hines’ equity partner on the 474,000-square-foot project are institutional investors advised by J.P. Morgan Asset Management.

Although plans for the building started at the height of the recession, Craig noted, the project has featured a sense of urgency since the beginning. “When plans started on April 1, 2009, there wasn’t a sign of growth,” he said, “but our client said that when the market turned, they wanted to be ready.”

“The Milliken family chose to sign a ground lease,” he continued, “and the payment structure doesn’t involve an appraisal of the land value at any point,” Craig said. The financing is all-equity. Hines was able to get the project going with spec financing, he noted. “We had four sources, which validated the decision to go forward on a spec basis.”

The company also was ready to do so because of timing and, of course, location, added Dan Doty, managing director. “Given where we were in the construction cycle, it was an ideal time to lock in construction costs,” he said. The firm wanted a Guaranteed Maximum Price contract, Doty noted.

“Plus with the core nature of the asset,” he added, “being right by the park and with great views, we thought we could get premium rents.” Asking rent for the building—which does not yet have any tenant—is over $100 a foot, and $200 for the penthouse space.

The building’s layout would enable Hines to offer high-density floors that would allow for 100 rentable square feet per employee, Craig noted. Also of note, 7 Bryant Park features a column-free interior with the opportunity for raised floors, enabling the building to accommodate changes in floor layouts and tenant workforces, he said.

A total of about 18,000 square feet is also available for retail on the ground floor and lower level, noted director Sarah Hawkins. Hines envisions having one large tenant—most likely a restaurant—for the bulk of the space, with a second area going possibly to a small café or even an office tenant with a private entrance.

While Craig admitted that “we feel pressure every day to lease those 28 floors,” he seems confident that the building’s virtues speak for themselves. “We’re representing tenants who need 150,000 to 200,000 square feet, which is an underserved market.” Such companies might get swallowed up by a larger building but they could shine at 7 Bryant Park, he noted, even having access to microtile walls at the building’s entrance that could be used for branding.

[...]
Foundation work at 7 Bryant is ongoing...

image hosted on flickr

IMG_5369.JPG by denkmanttlb, on Flickr
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post

Last edited by desertpunk; April 25th, 2013 at 02:07 AM.
desertpunk no está en línea   Reply With Quote
Old May 2nd, 2013, 05:35 PM   #71
babybackribs2314
Registered User
 
Join Date: Jan 2008
Location: New York
Posts: 560
Likes (Received): 545

Looks like the foundation is finishing up. Latest pics!

7 Bryant Park May 2013 Construction Update

__________________
My blog with photo updates and development news: New York YIMBY

& follow YIMBY on Twitter! New York YIMBY Twitter

desertpunk liked this post
babybackribs2314 no está en línea   Reply With Quote
Old May 6th, 2013, 10:56 PM   #72
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Tight fit!
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post
desertpunk no está en línea   Reply With Quote
Old May 7th, 2013, 06:39 PM   #73
GeoDude
GeoDude
 
GeoDude's Avatar
 
Join Date: Mar 2009
Location: London, UK
Posts: 264
Likes (Received): 206

a couple from today



__________________

@Chaserino
Architecture & Travel

USA - Canada - Mexico - Costa Rica - Brazil - Peru - Australia - New Zealand - China - England - France - Netherlands - Spain - Italy - Germany - Monaco - Vatican City - Czech Republic - Hungary - Turkey - Denmark - Sweden - Morocco - Portugal - Switzerland - Greece - Austria - Liechtenstein - Cyprus - Croatia - Belgium - Slovakia - United Arab Emirates - Poland - Ukraine - Romania - Ireland - Malta - Vietnam - Myanmar - Japan - India - Slovenia - South Africa - Zimbabwe - Zambia - Botswana - Israel
GeoDude no está en línea   Reply With Quote
Old May 7th, 2013, 07:19 PM   #74
tim1807
faster than buildings
 
tim1807's Avatar
 
Join Date: May 2011
Location: Den Helder
Posts: 10,325
Likes (Received): 5334

I already expected that they would place the elevator shaft/staircase against the blind wall.
tim1807 no está en línea   Reply With Quote
Old May 7th, 2013, 07:53 PM   #75
Uaarkson
Sheet Metal Sketcher
 
Uaarkson's Avatar
 
Join Date: Feb 2009
Location: East Side Flint
Posts: 2,527
Likes (Received): 1028

This building was clearly designed with regards to BoFA on the other side of the park.

This is one lucky park!
__________________
Manhattan http://www.youtube.com/watch?v=7S1MySJoFl8&hd=1 (HD)
Uaarkson está en línea ahora   Reply With Quote
Old May 7th, 2013, 07:58 PM   #76
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Catching Up With Hines


Quote:
Hines Senior Managing Director Tommy Craig has delicately balanced a busy year of development projects with an ambitious investment strategy.

Hines has been busy on the investment and development side over the past few months. After breaking ground at 7 Bryant Park in February, officials at the 56-year-old firm announced in March that they would put up for sale its properties at 499 Park Avenue and 425 Lexington, both part of the Hines Core Fund. Tommy Craig, senior managing director in Hines’s New York office, spoke with The Commercial Observer about the firm’s plans to sell these New York office assets and its development of 7 Bryant Park, cautioning: “There is no way that my words could substitute for the work we have done.”

The Commercial Observer: Hines recently announced plans to put its properties at 499 Park Avenue and 425 Lexington Avenue up for sale. Will the capital generated be redeployed into the New York market?

Mr. Craig: The firm is not that formulaic, but certainly within Hines, the opportunity in New York is perceived to be an excellent one. Certainly Hines today is both a development firm and an investment management firm, and I would say our capital relationships clearly have shown that they understand the value and liquidity of a gateway market, New York being foremost among them. We have major projects under way in all of those gateway markets. Some would say that is a build-a-core strategy, and we can build a core on a risk-adjusted basis.

Certainly I would say that, given our target yield at 7 Bryant Park, I would say, real-time, we would expect that plan to be validated. But of course, until there is a sale and until we have leased 7 Bryant Park, the test for that reality is at a different point in time.


425 Lexington was sold by Hines for $750 million. CTBUH

Where do you stand in the sales process?

We have seen strong interest. The first round of bids is due April 24, and I would be surprised if we didn’t select a firm or firms with a closing date in the summer, in the month of August. [This interview was conducted the week of April 15, more than a week before the due date. The tower's sale for $750 million was announced this morning.]

Was the decision to sell based at all on the 7 Bryant Park development?

They’re quite unrelated. The investors in the Hines Core Fund really are a distinct group of entities and they, of course, acquired these assets in 2003. They were looking at the significant appreciation since then, and those investors were participating in a commingled fund with other investors and were involved in core assets that we acquired rather than developed. They are very different than investors in a development.

They are unrelated but parallel activities. Both speak to New York as a strong market. We would tend to avoid selling assets unless we identified a strong market opportunity.

What was the motivation for developing 7 Bryant Park?

Pacolet Milliken has owned the site for over 50 years. Hines was selected by Milliken in April 2009 to move forward and create a development program. We were initially selected as a third-party development manager, and the family had identified the property as part of a larger strategy whereby they separated the industrial company from the real estate company. The partners then moved forward and began the demolition.

What’s extraordinary is we got selected at the very bottom of the real estate market and the very bottom of the financial market, and the family had enough of a long-term vision that the time to develop it at the bottom of the market. We got involved in April 2009, and in the summer of 2011 we mended our relationship so we were in a principal relationship and executed a ground lease in July to get definitive site control. We gave Milliken the opportunity to become a partner.

Approximately 12 months later, we completed financing with J.P. Morgan Asset Management. In that time, we made a fundamental judgment. Do we continue to try to prelease or move forward with a partner on the basis of speculative construction? At 7 Bryant Park, a large user is 250,000 square feet. Our judgment was that those users would respond strongest to a product when it was under way as opposed to putting the project where a major tenant controlled the timing and its fate.


7 Bryant Park (NYT)

Could you elaborate on some of the architectural details of the building?

This is architect Pei Cobb’s second commercial building in Manhattan. The prior one was 200 West Street, the Goldman Sachs building. To be clear, we think there are many things that differentiate the building. The opportunity to be a major tenant, the opportunity to, in many ways, identify through branding with the signage opportunities.

It has the kind of infrastructure you would associate with trading operations or higher-density occupancy. Obviously, those floors will look directly out on Bryant Park, and 100 percent of the users on those floors will have visual connectivity with each other. The nature of the space is very much in keeping with the evolving requirements of the modern workplace: collaboration and higher density.

The ceilings are 10 feet high. The module on the exterior wall is also 10 feet. There is more light and deeper penetration of that light.
There will be an outdoor terrace on the 10th floor as well as a rooftop penthouse with outdoor space. We really took the infrastructure and combined it with aspects of residential projects that had the most appeal, the role of daylight and outdoor space.

We also have plans for a restaurant on the ground floor. We think a high-end destination restaurant is going to be very appealing facing Bryant Park.

[...]

What is the status of the leasing process?

We are in active discussions with a number of prospects. We are hopeful, but that is all I can say. The product has been well received.

What is the timeline for construction and leasing?

We expect to get a certificate of occupancy in February of 2015, on budget. Most of this year will be dominated by work below grade, getting out of the hole and establishing the concrete core. We are expecting by year-end that the major trades, the work below grade, will be complete. The core will be well on its way, and by year-end we hope to start the structural steel erection. All the other trades, the installation of systems such as elevators, will follow shortly after. We have a very good sequence of work all through 2014.

What is your outlook for the New York market?


56 Leonard (Dezeen)

We have other projects in New York. Largely, we experience the world through the projects we are doing. At 56 Leonard, where we are the third-party developer, we have completed the contract, closed the loan and had an extraordinary level of sales activity, close to 50 percent. Obviously, we are very encouraged by high-end residential.

We are doing everything we can to finalize financing on the MoMa Tower so we can move that along as well. We expect high-end residential to continue to be a place we look for opportunity.



Tower Verre

New York is a favored market. You look at the favored few and New York is at the head of that. Right now, we are more focused on development than acquisition, but I would expect, given the performance of assets, we will want to diversify and do more.

---
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post
desertpunk no está en línea   Reply With Quote
Old July 17th, 2013, 10:17 PM   #77
GeoDude
GeoDude
 
GeoDude's Avatar
 
Join Date: Mar 2009
Location: London, UK
Posts: 264
Likes (Received): 206

sorry for the lack of updates. been busy lately. from today

__________________

@Chaserino
Architecture & Travel

USA - Canada - Mexico - Costa Rica - Brazil - Peru - Australia - New Zealand - China - England - France - Netherlands - Spain - Italy - Germany - Monaco - Vatican City - Czech Republic - Hungary - Turkey - Denmark - Sweden - Morocco - Portugal - Switzerland - Greece - Austria - Liechtenstein - Cyprus - Croatia - Belgium - Slovakia - United Arab Emirates - Poland - Ukraine - Romania - Ireland - Malta - Vietnam - Myanmar - Japan - India - Slovenia - South Africa - Zimbabwe - Zambia - Botswana - Israel

desertpunk liked this post
GeoDude no está en línea   Reply With Quote
Old August 2nd, 2013, 04:53 AM   #78
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

BrooklynFlyGuy took these great shots of the tower crane coming together:

__________________
We are floating in space...

ChuckScraperMiami#1 liked this post

Last edited by desertpunk; August 2nd, 2013 at 06:15 PM.
desertpunk no está en línea   Reply With Quote
Old August 2nd, 2013, 06:49 AM   #79
BrooklynFlyGuy
Registered User
 
BrooklynFlyGuy's Avatar
 
Join Date: Jun 2012
Location: New York City
Posts: 48
Likes (Received): 210

"JohnFlint1985 took these great shots of the tower crane coming together:"

Thanks to you and JohnFlint1985 for posting my pix here, as I couldn't find this thread a few days ago after I took these shots on Saturday afternoon...
BrooklynFlyGuy no está en línea   Reply With Quote
Old August 9th, 2013, 08:10 PM   #80
GeoDude
GeoDude
 
GeoDude's Avatar
 
Join Date: Mar 2009
Location: London, UK
Posts: 264
Likes (Received): 206

how is this not considered under construction? it looks to me like there's lots of construction going on. from my office....





__________________

@Chaserino
Architecture & Travel

USA - Canada - Mexico - Costa Rica - Brazil - Peru - Australia - New Zealand - China - England - France - Netherlands - Spain - Italy - Germany - Monaco - Vatican City - Czech Republic - Hungary - Turkey - Denmark - Sweden - Morocco - Portugal - Switzerland - Greece - Austria - Liechtenstein - Cyprus - Croatia - Belgium - Slovakia - United Arab Emirates - Poland - Ukraine - Romania - Ireland - Malta - Vietnam - Myanmar - Japan - India - Slovenia - South Africa - Zimbabwe - Zambia - Botswana - Israel
GeoDude no está en línea   Reply With Quote


Reply

Tags
1045 6th avenue, 1045 sixth avenue, 7 bryant park, hines, new york, nyc

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 07:13 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu