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Old August 22nd, 2017, 07:08 PM   #3441
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How possible?... they can get complete about 18 months from now is it?
Absolutely thin .... 435 metre too tallest would be complete disappeared if thin go narrow
Like picture... question?... what size is this?
PLEASE!!!!!!!!!!!!!!!!!!!!!!!!



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Old August 22nd, 2017, 07:18 PM   #3442
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PLEASE!!!!!!!!!!!!!!!!!!!!!!!!



Oops sorry I mean what size building not height....area floor
My apologies for this you think this something else

Thank you for note ... High Five
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Old August 22nd, 2017, 07:18 PM   #3443
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Quote:
Originally Posted by perheps View Post
How possible?... they can get complete about 18 months from now is it?
Absolutely thin .... 435 metre too tallest would be complete disappeared if thin go narrow
Like picture... question?... what size is this?
now yes possible... can get about 18 months...yes complete
yes, so thin... thin go narrow can touch the tip to the sky... disappear into the galaxy that narrow...
picture...no idea the ... size
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Old August 22nd, 2017, 08:27 PM   #3444
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Originally Posted by NYCrulz View Post
now yes possible... can get about 18 months...yes complete
yes, so thin... thin go narrow can touch the tip to the sky... disappear into the galaxy that narrow...
picture...no idea the ... size
So wrong, but well deserved at the same time.
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Old August 23rd, 2017, 04:01 AM   #3445
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Posted this in the CPT thread a few days ago, thought it might be fitting here...

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Old August 23rd, 2017, 05:40 AM   #3446
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So wrong, but well deserved at the same time.
Oh well I don't mind any at all... iPad Pro is terrible typewrite
My apologies
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Old August 23rd, 2017, 06:42 AM   #3447
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https://www.instagram.com/p/BX3n64nh...=fcjhnewyork01


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Old August 23rd, 2017, 10:28 AM   #3448
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Oh well I don't mind any at all... iPad Pro is terrible typewrite
My apologies
...Ipad Pro is designed for...regular people ...
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Old August 28th, 2017, 01:28 AM   #3449
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propertymarketsgroup

We're not just developing one of the tallest residential towers in NYC -- we're restoring and integrating the landmarked Steinway Tower, originally the piano maker's headquarters. A splendid marriage of old and new.


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Old August 28th, 2017, 09:31 AM   #3450
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Quote:
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Posted this in the CPT thread a few days ago, thought it might be fitting here...

Wow!!
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Old August 29th, 2017, 04:33 AM   #3451
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5Bfilms on yimby
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Old August 30th, 2017, 03:09 AM   #3452
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Rockefeller view of Central Park is slowly being whittled away. At least it's being taken up by cool buildings!
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Old August 30th, 2017, 04:58 AM   #3453
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Has there been any announcement related to the outcome of the foreclosure ruling? It appears it is still rising... hopefully it continues.
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Old August 30th, 2017, 08:34 PM   #3454
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Looks like there was.

https://ny.curbed.com/2017/8/30/1622...t-foreclosure:)
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Old August 30th, 2017, 09:31 PM   #3455
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Crain's article on the Court decision.

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Old August 30th, 2017, 11:56 PM   #3456
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So how is the ruling going to affect construction?
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Old August 31st, 2017, 12:33 AM   #3457
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It raises an interesting question for me; if the project were to find itself in financial difficulties, could the existing design be altered to allow for a much shorter building that would allow the existing work to be used but cost much less to complete?

The obvious objection to that idea is the investment already made wouldn't find a return on a smaller, less income-heavy building.

But any port in a storm, right? Also, any new owner/developer would perhaps be starting with a lower capital exposure having picked up the project at a fire sale price.

Are there examples of this type of project being truncated in scope after construction has begun?

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So how is the ruling going to affect construction?
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Old August 31st, 2017, 12:45 AM   #3458
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NEW YORK | 111 W. 57th St. - Steinway Tower | 435m | 1428ft | 82 fl | U/C

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So how is the ruling going to affect construction?

Well, just reading the Curved's article, it doesn´t look bad:



"It looks like the skinny supertall at 111 West 57th Street won’t be imperiled after all. After months of troubling news, the developers behind the project finally got a favorable verdict this week. A State Supreme Court judge allowed a “strict foreclosure” proceeding to move forward on the building, which means JDS and Property Markets Group (the developers) can voluntarily hand over ownership of the site to their mezzanine lender, Spruce Capital....



A source has informed Crain’s that with the foreclosure now approved, the developers will either team up with Spruce to move forward on the project or add in another investor into the mix."

Last edited by gaab1972; September 2nd, 2017 at 07:33 AM.
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Old August 31st, 2017, 01:51 AM   #3459
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Thanks. Sounds like "strict foreclosure" is actually the optimal outcome allowing JDS to remove the troublesome partner (Ambase) from the deal and effectively partner with Spruce to continue the project. It will also allow them to bring on additional partners to bridge budget shortfalls and overruns.

Any progress shots? Has work proceeded uninterrupted through this whole legal mess?
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Old August 31st, 2017, 03:30 AM   #3460
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The tower has not slowed down rising.
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