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Old January 6th, 2015, 12:18 AM   #1721
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http://www.crainsnewyork.com/article...ting-headwinds

High-end condos hitting headwinds
Some of the city's most expensive units are now struggling to attract buyers.

Quote:
Meanwhile, Kevin Maloney, a co-developer of the 60-foot-wide, 1,400-foot-tall tower at 111 W. 57th St., offering views of Central Park, believes his project can double the $3,000 per square foot he needs just to break even. At least one big financier agrees with him: Mr. Maloney said they're finalizing a deal to secure a half-billion-dollar construction loan from a major financial institution.
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Old January 6th, 2015, 02:05 AM   #1722
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One paragraph of good news amongst a foreboding article. We may never see the likes of 125 Greenwich rise.
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Old January 6th, 2015, 06:15 AM   #1723
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If these idiots would stop going for the oligarch market, plenty of eight and nine figure upper middle class and normal millionaires who actually would buy units they were going to live in and not write off as a tax shelter would love to buy in. Only so many 10 million plus properties that can be practically built. I want people who identify with New York, not poo bahs who want a write off showing off their ostentatious tastes.
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Old January 6th, 2015, 07:27 PM   #1724
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Quote:
Originally Posted by Buyckske Ruben View Post
technically Yes / aesthetically No !

Most ugly tower in N.Y.

Way to high for the neighbourhood. And to slender, failed composition.
*too

Too high for 57th? Seriously? Too slender? Not every building has to be 100 feet wide or bigger.
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Old January 6th, 2015, 08:03 PM   #1725
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Quote:
Originally Posted by j-biz View Post
One paragraph of good news amongst a foreboding article. We may never see the likes of 125 Greenwich rise.
Better a slow deflation than a quick burst of what looks like a bubble.
I definitely hope that this one is going to be built though.
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Old January 7th, 2015, 05:47 AM   #1726
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Maybe developers will have to shift their product to cater to millionaires rather than billionaires.

Anyway, in more relevant news, all permits were approved for this building today! Once this gets financing, it hopefully will be full steam ahead.

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01

Quote:
APPROVED 01/06/2015

FILING FOR ENLARGEMENT OF EXISTING STRUCTURE AS SHOWN ON DRAWINGS FILED HEREWITH.

Building Height (ft.): Existing: 150
Proposed: 1397

Building Stories: Existing: 15
Proposed: 80

Dwelling Units: Existing: 0
Proposed: 55
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Old January 7th, 2015, 05:54 AM   #1727
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At just 55 units this tower won't need long lines to sell through. That's also true of other projects like it. During the 2005-08 boom, large condo towers had many more units requiring many more buyers dependent on their credit quality. These apartments will sell for cash and fewer buyers are needed. If 200 people earned multimillion dollar Wall Street bonuses last year, that's enough to fill this tower and more. Add the usual crop of celebrities, oligarchs and investors and it can still work. But the more choices they get, the more fickle this echelon becomes ...as evidenced by One57's sluggish sales.



Quote:
Originally Posted by sbarn View Post
Maybe developers will have to shift their product to cater to millionaires rather than billionaires.
They will but those $2 million condos won't come with Central Park views!
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Old January 7th, 2015, 03:51 PM   #1728
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Quote:
Originally Posted by desertpunk View Post
At just 55 units this tower won't need long lines to sell through. That's also true of other projects like it. During the 2005-08 boom, large condo towers had many more units requiring many more buyers dependent on their credit quality. These apartments will sell for cash and fewer buyers are needed. If 200 people earned multimillion dollar Wall Street bonuses last year, that's enough to fill this tower and more. Add the usual crop of celebrities, oligarchs and investors and it can still work. But the more choices they get, the more fickle this echelon becomes ...as evidenced by One57's sluggish sales.





They will but those $2 million condos won't come with Central Park views!

Well, of course you will need many less buyers than other large condominium towers, but those people that can buy such an apartment are not very plentiful in the world. Selling those 55 units could be like selling 5500 in a mega complex for middle class.

Not that it would be a failure, but most probably, it would take years to sell out this tower. (Anyway, developers are aware of that, and usually their strategy is to sell a determinate percentage of units during the first year, and then the rest could be sell more slowly)

Last edited by CCs77; January 7th, 2015 at 03:57 PM.
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Old January 7th, 2015, 03:59 PM   #1729
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fantastic. ny is the capital of the world! Really!!
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Old January 7th, 2015, 10:26 PM   #1730
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Good news that this tower has full approval and financing is imminent!

More good news as to what the height of this tower will be and according to the engineering report just filed yesterday with the DOB, this sucker will be well above 1,400'

Report:
http://a810-bisweb.nyc.gov/bisweb/BS...de=ES797476317

looks like there is 2 options for this bad boy for height.

Option 1 = 1,412.5'

Option 2 = 1,421'


Cheers!!!
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Old January 7th, 2015, 10:39 PM   #1731
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From Engineering Report






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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)
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Old January 7th, 2015, 10:43 PM   #1732
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I think that's above sea level since it says elevation but I could be wrong.
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Old January 7th, 2015, 10:48 PM   #1733
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I don't think that is the elevation figure but maybe?? dunno. The elevation at this site is aprox 60'.

1,397' + 60' = 1,457' tall.
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

Last edited by Vertical_Gotham; January 7th, 2015 at 11:13 PM.
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Old January 7th, 2015, 10:50 PM   #1734
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Quote:
Originally Posted by Vertical_Gotham View Post
Good news that this tower has full approval and financing is imminent!
More good news as to what the height of this tower will be and according to the engineering report just filed yesterday with the DOB, this sucker will be well above 1,400'
Report:
http://a810-bisweb.nyc.gov/bisweb/BS...de=ES797476317
looks like there is 2 options for this bad boy for height.
Option 1 = 1,412.5'
Option 2 = 1,421'
Cheers!!!
That is exellent news ! I'm so exited about his tower ! And it's going to be even higher than it says in the title.
It was already going to be the world's skinniest 400+ record breaking supertall and now even more so, even more extreme. And what a looker...

P.S. Let's all hope for the option 2...

Last edited by Pohtija; January 7th, 2015 at 11:06 PM.
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Old January 7th, 2015, 10:52 PM   #1735
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This design is so ******* superb.
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Old January 7th, 2015, 11:07 PM   #1736
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Also: 95 floors!!





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Old January 7th, 2015, 11:08 PM   #1737
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Quote:
Originally Posted by citybooster View Post
If these idiots would stop going for the oligarch market, plenty of eight and nine figure upper middle class and normal millionaires who actually would buy units they were going to live in and not write off as a tax shelter would love to buy in. Only so many 10 million plus properties that can be practically built. I want people who identify with New York, not poo bahs who want a write off showing off their ostentatious tastes.

exactly my opinion on that boom along Central Park south recently. Despite the fact that those renderings do look quite nice, I don't get along with the basic idea of it - 50 apartments in a 1300ft+ tower? That's a joke and a kick to the face of every normal, middle class New Yorker who despite working daily and paying all of his taxes to the state of NY struggles to stay in his 2nd floor two room UES apartment with a wife and 2 kids while a couple blocks to the south a Russian or Arab oligarch buys a 300 sq ft apartment for his son to spend a few weeks a year there
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Old January 7th, 2015, 11:10 PM   #1738
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That GLASS & BRONZE combination sounds so good, so classy. It's going to look spectacular !

Last edited by Pohtija; January 7th, 2015 at 11:36 PM.
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Old January 7th, 2015, 11:14 PM   #1739
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Quote:
Originally Posted by lsg97 View Post

exactly my opinion on that boom along Central Park south recently. Despite the fact that those renderings do look quite nice, I don't get along with the basic idea of it - 50 apartments in a 1300ft+ tower? That's a joke and a kick to the face of every normal, middle class New Yorker who despite working daily and paying all of his taxes to the state of NY struggles to stay in his 2nd floor two room UES apartment with a wife and 2 kids while a couple blocks to the south a Russian or Arab oligarch buys a 300 sq ft apartment for his son to spend a few weeks a year there

You are not going to have a project most especially along Central Park built for the middle class here. Now if they built this tower lets say in Queens... then yea, it would be a huge sucker kick in the face.
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http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

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Old January 7th, 2015, 11:23 PM   #1740
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Top 10 future tallest:

1. 1WTC: 1,776ft / 541m
2. Nordstrom: 1,775ft / 541m
3. One Vanderbilt: 1,514ft / 461m
4. 111 West 57th Street: 1,421ft / 433m
5. 432 Park Avenue: 1,397ft / 426m
6. 125 Greenwich Street: 1,356ft / 413m
7. 2WTC: 1,349ft / 411m
8. 30 Hudson Yards: 1,287ft / 392m
9. ESB: 1,250ft / 381m
10. Hudson Spire: 1,200ft+ / 366m+

Crazy times!
The skyline is becoming immensely tall.
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