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Old October 17th, 2013, 09:43 PM   #601
RobertWalpole
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This is going to be amazing.

http://ny.curbed.com/archives/2013/1...s_unveiled.php




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Old October 17th, 2013, 10:01 PM   #602
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^ very nice! This place is in serious need of rejuvenation.

Places for People:
A public realm vision for East Midtown (pdf)

http://www1.nyc.gov/assets/home/down...st-Midtown.pdf

Last edited by Vertical_Gotham; October 17th, 2013 at 10:15 PM.
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Old October 18th, 2013, 06:39 AM   #603
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This proposal could lead to even taller towers:

http://online.wsj.com/news/articles/...LEFTTopStories
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Old October 18th, 2013, 06:55 AM   #604
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For those with out WSJ memberships can we please get a copy or transcript?
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Old October 18th, 2013, 06:59 AM   #605
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Quote:
Owners of landmarked buildings can now sell their air rights to developers building next door, across the street or catty-corner—not always helpful in places without much new high-rise construction.

The Bloomberg administration has landmarked more than 8,000 buildings, presenting a question for a new administration next year: how to ensure that some of the city's most magnificent buildings—from Grace Church to the Eldridge Street Synagogue to the Apollo Theater—are properly maintained by owners that are short on funds for Sunday schools and soup kitchens, never mind gargoyles and limestone facades.

Two businessmen say they have the solution: Lawrence Daitch, a former grocery story executive, and real-estate man Michael Lipstein have formed a group called Iconplans and are pushing the city to give them a monopoly over selling landmark buildings' air rights in the city.

Under the plan, the city's 180 nonprofit owners of individual landmark buildings would have the option to contribute their air rights to a common bank. From there, the rights could be sold anywhere, preferably to developers in Midtown, where the prices can climb well above $300 a square foot. "It's money from heaven for both the churches and the city," Mr. Lipstein said. Iconplans would arrange the transaction, using an independent appraiser to set the price, and take a 10% cut.

The proposal would generate $600 million of additional revenue for nonprofit groups over several decades, according to a report Iconplans commissioned from Carl Weisbrod, a partner at HR&A Advisors who is also the former head of the Economic Development Corp. and Trinity Church's real-estate division.

Iconplans advisers include Howard Rubenstein, the public-relations executive, and Kenneth Fisher, the former Brooklyn City Council member. The idea has garnered early though qualified support from groups including the Episcopal Diocese of New York, Fordham University, the Real Estate Board of New York and the Association for a Better New York. "We think it's a smart and ambitious idea that requires further study to assess its true viability and value for the city, but we applaud Iconplans for thinking outside of the box and moving this idea forward," said Jennifer Hensley, ABNY's executive director.

Both mayoral candidates, Bill de Blasio and Joe Lhota, have expressed support for loosening air-rights restrictions for public purposes. And the city has been making it easier to transfer air rights in recent years.

Broadway theaters can transfer air rights anywhere between West 40th and 57th streets and Sixth and Eighth avenues. Under the administration's proposed Midtown East rezoning, landmarks could transfer air rights through much of the district, benefiting three religious institutions: St. Patrick's Cathedral, St. Bartholomew's Church and Central Synagogue.

[...]


http://online.wsj.com/news/articles/...LEFTTopStories
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Old October 18th, 2013, 07:02 AM   #606
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Quote:
Originally Posted by Tower Dude View Post
For those with out WSJ memberships can we please get a copy or transcript?
Sorry.
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Old October 18th, 2013, 01:51 PM   #607
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Quote:
Originally Posted by RobertWalpole View Post
One of the things that any visitor to NY would note is the massive amount of helicopter use. They are several copter pads on the east and west sides.
I've no problem with helipads as long as they are as invisible as possible.
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Old October 18th, 2013, 02:41 PM   #608
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Quote:
Originally Posted by RobertWalpole View Post
This proposal could lead to even taller towers: http://online.wsj.com/news/articles/...LEFTTopStories
Agreed! I like it! it's a win win situation for all parties involved, from the city, developers & property owners.
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Old October 18th, 2013, 02:45 PM   #609
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Here's the rest of that article cont from desert punks post above:

Quote:
Experts said the problem is widespread.

"Churches have come to us for years and said, 'Can we do something like this?" said Peg Breen, president of the New York Landmarks Conservancy, which assists landmark landlords. She said the Iconplans proposal has potential but wants to see different ideas.

A Department of City Planning spokeswoman said the Iconplans idea was worth further study. A Landmarks Preservation Commission spokesman said it welcomed creative development-rights proposals.

Planning and preservation experts said it is a good idea to expand air-rights transfers for cash-strapped nonprofits but have concerns about leaving it in the hands of a private company. Other preservation groups said they fear that allowing air rights to be transferred anywhere in the city could cause a glut of development in neighborhoods that aren't ready for it.

Iconplans officials said the impact would be manageable, and no individual development can increase in size by more than 20%. Iconplans officials argue they have presented a detailed plan, but others are also working on the problem.

Vicki Been, director of New York University's Furman Center for Real Estate and Urban Policy, said her group plans to release in the coming weeks a study on allowing nonprofits that own landmarks to sell their air rights as far away as major avenues.

"You don't want your houses of worship all turned into night clubs or fancy condos, so you've got to make it possible for them to maintain these hard-to-maintain buildings," she said.
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Old October 18th, 2013, 03:53 PM   #610
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Sorry.
It's all cool, thanks for bringing the article to our attention!!
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Old October 20th, 2013, 07:34 PM   #611
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Quote:
Originally Posted by desertpunk View Post
Quote:
Under the plan, the city's 180 nonprofit owners of individual landmark buildings would have the option to contribute their air rights to a common bank. From there, the rights could be sold anywhere, preferably to developers in Midtown, where the prices can climb well above $300 a square foot. "It's money from heaven for both the churches and the city," Mr. Lipstein sai
I am bit confused - how is this going to work???
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Old October 20th, 2013, 07:42 PM   #612
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I guess it is a bit unfair that landmarks in good locations can sell for huge amounts of money while others can't. By being able to sell to a pool that is available anywhere makes it the same for all.
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Old October 21st, 2013, 12:40 AM   #613
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Whats unfair about it? Why shouldnt a landmark in a more valuable location be able to sell its air rights for an equally larger amount of money?
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Old October 21st, 2013, 12:54 AM   #614
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I'm sure they will still be able to get more than those selling to this air rights bank, it's unfair since they have no control over how the area develops.
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Old October 21st, 2013, 02:43 AM   #615
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Quote:
Originally Posted by Funkyskunk2 View Post
I guess it is a bit unfair that landmarks in good locations can sell for huge amounts of money while others can't. By being able to sell to a pool that is available anywhere makes it the same for all.
this is something new. I never heard of these kind of deals ever before.
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Old October 21st, 2013, 02:57 AM   #616
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Quote:
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this is something new. I never heard of these kind of deals ever before.
Aren't these type of deals fairly common?
http://www.umc.org/site/c.gjJTJbMUIu...30_million.htm

225 did the same.

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Old October 21st, 2013, 09:19 AM   #617
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^The new thing is that under this plan, air rights could effectively be transferred anywhere, not just to neighboring projects on the same or on adjoining blocks as they can be currently. It's also currently hard to do some of these transfers, as we've seen when the transfer of airrights to Tour Verre resulted in the top being chopped off for petty reasons.
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Old October 21st, 2013, 05:18 PM   #618
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But this new method is limited to 20%. To gain a large amount on a small site still takes local deals.

Landmarks in lucky locations still get rich, while ones in worse spots now have the ability to sell to a developer even if no one wants to build anywhere near it.
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Old October 21st, 2013, 10:08 PM   #619
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Quote:
Originally Posted by Funkyskunk2 View Post
Aren't these type of deals fairly common?
http://www.umc.org/site/c.gjJTJbMUIu...30_million.htm

225 did the same.
225 is only one building, and here we are talking about 100 or more. In theory I can understand all this, but in practice I am sure we will look at a lot of lawsuits by those who want and can not do this.
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Old October 22nd, 2013, 08:22 AM   #620
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Clock Ticking, Bloomberg Seeks Council Approval of East Midtown Rezoning Plan

http://www.nytimes.com/2013/10/22/ny...plan.html?_r=0

Quote:
But the administration has since revised the rezoning plan to allow Mr. Levinson and a second developer, SL Green, to proceed more quickly. SL Green owns a block bound by 42nd and 43rd Streets, between Madison and Vanderbilt Avenues. The company wants to demolish the three buildings on the site — none are taller than 20 stories — to build a 65-story, 1.6-million-square-foot tower, to be known as 1 Vanderbilt.
So here we have it. The plan for this tower is:
65 Story
1.6 Million


I was actually expecting this site to have 2 - 2.5 m sf for this site.

2 Hudson Blvd is a much larger and potentially taller site, but the spire for 1 Vandy can take this to a greater height.
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