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Old October 31st, 2016, 02:35 AM   #2321
spectre000
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I like the top. It reminds me of 1 Bryant Park's. And this one is much better.
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Old October 31st, 2016, 03:36 PM   #2322
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Quote:
Originally Posted by Nuwanda View Post
I agree. It's boxy and doesn't have any elegance; and if there's one thing a tall building should be able to pull off by its very nature, it's elegance. The top is particularly egregious.
It's classic NYC. Esb, Chrysler, etc are all boxy buildings outside of their crowns. All considered elegant buildings. This crown is similar and the shaft tapers which adds to its elegance.

I would like to see something more forward looking like you see in Shanghai with unusual shaped buildings, but NYC has its dominant historically influenced style due to many factors and it works well for most part because the city is lashed out on a grid. This is less boxy than the WTC towers and maybe even HY.
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Old October 31st, 2016, 04:37 PM   #2323
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Quote:
Originally Posted by phoenixboi08 View Post
Well, it's a 100ft reduction, though...how dramatically can it affect the square footage? It would appear to me most of the reconfiguration likely occurred in the crown/observation deck rather than the tower, itself.

In any case, there's also plenty of demand for office space, in Midtown, particularly: vacancies are low and rents are high. Some of these dynamics are actually why the WTC has had trouble leasing, because they're asking more $ per square foot than space that's been coming online, elsewhere in the city.


WSJ

As with the luxury supertalls, when they talk about the market softening, they're really talking about the peculiar circumstances that make the projects attractive to investors/financiers no longer being aligned (e.g. 432 Park is tall in order to maximize the number of units, which in turn provides the returns needed to justify what was spent to acquire the property, demolish the Drake Hotel, and to build the tower).

In other words, they're talking about diminishing returns [on investment]. When they talk about the bottom falling out of that segment of the market, they're really talking about there being very few properties left with developable rights to build similar projects, in locations that would justify the rents/sales prices to make it worthwhile: not a bubble, as seems to be making the rounds, here.
Midtown is ridiculously bifurcated at the moment and this will only increase; it's actually one of the problems with the Midtown East rezoning. On one hand, you have activity at the top of the market that's actively consolidating into newer properties in Hudson Yards and similar developments, leaving a swath of vacancy or subleased space in the traditional heart of Midtown (Park, 5th et al). So now you've got rents that are being buffered downwards because there isn't enough demand to fill this space back up and the general market has dispersed throughout Manhattan. So yes, there's still pent-up demand from high-paying tenants, but their net contribution is actually negative, so vacancy will rise.
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Old October 31st, 2016, 11:18 PM   #2324
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Hell, almost every skyscraper is box-like but that's not what boxy means. Boxy is a pejorative term connoting an insipid and uninspired design.

The ESB is stacked boxes, with lovely proportioned setbacks, vertically soaring fenestration and an equally elegant crown. Chrysler is even more elegant, especially in its cladding.

The original WTC towers at least had the virtue of being stark pillars, monumental in their sheer mass, rising from an uncluttered base.






Quote:
Originally Posted by JohnDee View Post
It's classic NYC. Esb, Chrysler, etc are all boxy buildings outside of their crowns. All considered elegant buildings. This crown is similar and the shaft tapers which adds to its elegance.

I would like to see something more forward looking like you see in Shanghai with unusual shaped buildings, but NYC has its dominant historically influenced style due to many factors and it works well for most part because the city is lashed out on a grid. This is less boxy than the WTC towers and maybe even HY.
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Old November 1st, 2016, 10:44 PM   #2325
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NEW YORK | One Vanderbilt Place | 427m | 1401ft | 58 fl | Prep
Reducing a height of 100ft vert ugly i am very disoppoined it will not have an impact in skyline empire state building will always domine the area
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Old November 2nd, 2016, 01:01 PM   #2326
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I just wonder how good this will be visible from CP when standing there, it's 2 kilometer away.
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Old November 3rd, 2016, 10:08 PM   #2327
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1401ft not to the tip i am right ??
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Old November 5th, 2016, 05:38 AM   #2328
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Only 58 floors ? Ridicolous !!
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Old November 14th, 2016, 05:39 AM   #2329
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Pictures i took with cell phone from the Metlife building of the construction site...





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Old November 14th, 2016, 07:39 AM   #2330
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Hey mrs vanderbilt
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Old November 14th, 2016, 01:39 PM   #2331
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Quote:
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Only 58 floors ? Ridicolous !!
It will have a huge crown and spire.
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Old November 14th, 2016, 08:09 PM   #2332
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It will have a huge crown and spire.
Just 1401ft to the tip it s ridiculous very bas
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Old December 5th, 2016, 04:13 PM   #2333
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Suprise suprise, look what i just read over at SSP. This tower will have an outdoor deck well above 300m.

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https://www.bloomberg.com/news/artic...ntral-terminal

Manhattan to Get 1,020-Foot Skydeck Near Grand Central Terminal

by David M Levitt
December 5, 2016




I had no idea there would be an outdoor deck here. I'm so excited!
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Old December 11th, 2016, 10:54 PM   #2334
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Per the Wall Street Journal, developer SL Green is making a pitch to JP Morgan Chase to "swap" from its current two Manhattan HQ buildings into One Vanderbilt:

Quote:
By PETER GRANT
Dec. 10, 2016 7:00 a.m. ET

Landlord SL Green Realty Corp., which pulled off one of New York’s biggest office deals of 2016, is again sensing opportunity in the financial-services sector.

SL Green earlier this year proposed to J.P. Morgan Chase a complicated deal in which the bank essentially would swap its two headquarters buildings—383 Madison Ave. and 277 Park Ave.—for SL Green’s 1.75 million square-foot office tower that recently broke ground known as One Vanderbilt.

One Vanderbilt, according to people familiar with the matter. The bank has been considering the plan, but so far negotiations haven’t commenced, these people said.

SL Green has hit pay dirt with major financial services companies in the past. This year, it sold its two-building complex at 388-390 Greenwich St. to Citigroup Inc. for $2 billion. Citigroup, which had been leasing the complex, bought the building as part of efforts to consolidate and cut costs in the New York area.

Cutting a deal with J.P. Morgan poses a bigger challenge for SL Green because the bank—as the owner of its two buildings—has no need to move.

Still, J.P. Morgan made it clear it would consider the right deal two years ago when it negotiated with the city and state of a package of incentives that would enable it to move into Related Cos.’ Hudson Square development on Manhattan’s West Side. That deal collapsed partly because not enough subsidies were offered.

SL Green might soon be joined by a partner in its efforts to lure J.P. Morgan to One Vanderbilt. SL Green chief executive Marc Holliday said at an investor conference last Monday that the company was negotiating to sell a 28% stake in One Vanderbilt to a foreign investor.

Write to Peter Grant at [email protected]
Someone please correct me if I'm wrong, because the language is a little unclear, but if I understand correctly, SL Green is proposing to sell the ownership of the building to JP Morgan Chase, not simply make it a tenant, and in exchange, SL Green would assume control of its two headquarters buildings at 383 Madison and 277 Park Ave. Yes?

That has some interesting implications, and I'd love to know the details of SL Green's proposal. For instance, would they retain any ownership stake at all? Would JPMC be on the hook for maintaining the transit improvements in the tower? Who operates and collects the receipts from the observation deck?

I'm not sure how interested JPMC is in becoming a landlord, but surely they would have to consider a deal to consolidate their two offices into possibly the best new office space in the city, of which they'd become the new owners. I mostly wonder what SL Green's interest would be in the two buildings they'd acquire from JPMC. I suppose with the current tenants vacating, the offices in each could be updated to Class A-caliber space, but there's no way they would redevelop either tower, right? As has been discussed in this thread, 383 Madison in particular is a huge, relatively new, high quality office tower...

Perhaps they know JPMC isn't going to be a player in the development scene in Midtown East once the re-zoning goes into effect, and want to position themselves to take advantage. If they were to acquire another development-ready site in the corridor, they could transer 383's excess air rights, the air rights above 420 Lexington, and any they buy from Grand Central to consolidate into a monster tower.
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Old December 12th, 2016, 08:10 AM   #2335
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Old December 12th, 2016, 02:07 PM   #2336
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U/C next year 2017 ?
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Old December 13th, 2016, 12:53 AM   #2337
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Looking at these excavation pics, and seeing the soft dirt being taken out, I wonder how far down they'd have to go to hit schist.

Anyone know of a map showing the depth of schist formations across Manhattan?



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Old December 13th, 2016, 01:19 AM   #2338
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U/C next year 2017 ?
Yup. Developer expects steel erection to begin in July if I remember.
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Old December 15th, 2016, 02:13 PM   #2339
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Originally Posted by Nuwanda View Post
Looking at these excavation pics, and seeing the soft dirt being taken out, I wonder how far down they'd have to go to hit schist.

Anyone know of a map showing the depth of schist formations across Manhattan?
This is on 42nd St. According to this it's not even 10 meters.

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Old December 15th, 2016, 11:06 PM   #2340
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Nice. Thanks.

Where can I access that data?

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This is on 42nd St. According to this it's not even 10 meters.

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