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 > Highrises

Highrises Discussions of projects under construction between 100-199m/300-649ft tall.
» Proposed Highrises



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 April 5th, 2013, 11:57 PM   #21
tim1807
faster than buildings
 
tim1807's Avatar
 
Join Date: May 2011
Location: Den Helder
Posts: 10,325
Likes (Received): 5334

I actually don't like this tower from that render on TS.
__________________

ChuckScraperMiami#1 liked this post
tim1807 no está en línea   Reply With Quote

Sponsored Links
Old July 10th, 2013, 10:02 AM   #22
Nikonov_Ivan
Registered User
 
Nikonov_Ivan's Avatar
 
Join Date: Aug 2011
Location: Riga
Posts: 2,261
Likes (Received): 704

Winthrop ups stake in Times Square hotel


Winthrop Realty Trust is set to up its stake in the planned development of a new hotel at 701 Seventh Avenue to $120 million.

The company announced today (Tuesday) it would increase its financial commitment to the venture from the previously stated $68 million.

Winthrop is part of an investment group led by The Witkoff Group and New Valley, an investment unit of South Florida-based Vector Group LTD (VGR), together with Maefield Development and Infinity Urban Century that acquired the Times Square site on the northeast corner of Seventh Avenue for $430 million last October.

Dubbed the Times Square Gateway Center, the site could be the home of a 340,000 s/f, 36-story, multi-use development with retail space, a hotel tower, and the nation’s largest single LED screen.

The retail development, with its 24,000 s/f LED sign, is expected to be operational within two years. If the first four floors of the building can be rented at a rates slightly less than some recent high-profile Times Square deals, developer Steve Witkoff told REW that retail income alone will give the investors a 35 percent internal rate of return over three years — and that’s if retail rents in Times Square don’t continue to climb, which is not what Witkoff expects.

“I believe rental rates in Times Square are going to far outstrip Fifth Avenue,” he said in an interview following the purchase.

The venture has yet to announce a deal with a major brand to operate the hotel, a move which might facilitate construction financing.

But Winthrop said its increased commitment reflects its “election to participate in the ownership of the hotel to be developed at the property and an increase in its preferred equity ownership from 45.85% to 61.1%.”

Winthrop will contribute on July 23, 2013 an initial additional $4.9 million to the venture and has agreed to make a second payment of $4.7 million upon refinancing of the existing mortgage and mezzanine debt.

Inclusive of the initial additional payment, Winthrop will have contributed $35.6 million to the venture and is entitled to a 12% preferred return on its contributed capital of which 8% is paid currently, and 4% is accrued.

A 475-room hotel could be built at the site for about $500,000 per key, Witkoff estimated, adding that the success of the W Hotel next door suggests each of those rooms would be worth $1 million once they’re available to the teeming hoards of Times Square tourists.

Meanwhile, Winthrop also announced that it recently sold its Denton, Texas retail building for a gross sales price of $1.85 million ; and obtained a $5.1 million loan secured by its Churchill, Pennsylvania property.

http://www.rew-online.com/2013/07/09...-square-hotel/
Nikonov_Ivan no está en línea   Reply With Quote
Old December 17th, 2013, 01:31 PM   #23
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53452

NY Post

Quote:
One block north of the Visitors’ Center, meanwhile, scaffolding and black nets envelop 701 Seventh Ave. We’ve read at least 701 different descriptions of the planned joint venture at the northeast corner of the avenue and West 47th Street to be anchored by a Marriott Edition Hotel. But here are up-to-date data, courtesy of Manhattan Community Board 5.

The board last week voted 34-0 in favor of air rights transfers from two Broadway houses — the Booth at 222 W. 45th St. and the Plymouth at 236 W. 45th — to the project site, a joint venture of the Witkoff Group, Maefield Development, Infinity Urban Century and Vector Group unit New Valley.

The facts from CB5’s letter of endorsement to the City Planning Dept.:

- The air rights sales will add a total of 44,988 square feet of floor area to the new mixed-use building, enlarging it over the site’s permissible 16.8 FAR to a total of 269,892 square feet.

- The building will be “39-story plus mezzanine” and 500 feet tall.

- The hotel will have about 203,532 square feet; lower five floors will have about 66,360 square feet of retail. The frontage will include more than 12,700 square feet of illuminated signs.

Details remain in flux. No plans have been filed with the Dept. of Buildings, although pre-demolition work is in full swing.

[...]
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post

Last edited by desertpunk; December 17th, 2013 at 10:27 PM.
desertpunk no está en línea   Reply With Quote
Old December 17th, 2013, 09:14 PM   #24
rencharles
We will never forget
 
rencharles's Avatar
 
Join Date: Apr 2008
Posts: 579
Likes (Received): 93

Render:


__________________

ChuckScraperMiami#1 liked this post
rencharles no está en línea   Reply With Quote
Old December 17th, 2013, 09:18 PM   #25
Nikonov_Ivan
Registered User
 
Nikonov_Ivan's Avatar
 
Join Date: Aug 2011
Location: Riga
Posts: 2,261
Likes (Received): 704

We have a thread for this project already, aren't we?
Nikonov_Ivan no está en línea   Reply With Quote
Old December 17th, 2013, 09:18 PM   #26
germantower
i ♥ NY
 
germantower's Avatar
 
Join Date: May 2006
Posts: 3,452
Likes (Received): 1155

We do, i made it last year: http://www.skyscrapercity.com/showth...square+gateway here we go.
__________________
more SHoP less BIG
germantower no está en línea   Reply With Quote
Old December 17th, 2013, 09:38 PM   #27
rencharles
We will never forget
 
rencharles's Avatar
 
Join Date: Apr 2008
Posts: 579
Likes (Received): 93

I thought the same thing. Had the impression of having seen this in SSC.
rencharles no está en línea   Reply With Quote
Old December 17th, 2013, 10:27 PM   #28
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53452



So there is! **merged**

I wonder if that design is a placeholder since some of the details have changed and others are "in flux".
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post
desertpunk no está en línea   Reply With Quote
Old January 21st, 2014, 06:33 AM   #29
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488



Marriott brings Schragers Vision to Times Square
http://nypost.com/2014/01/20/marriot...s-new-edition/

Quote:
The new Marriott Edition Hotel will bring the creative genius of Ian Schrager back to the Times Square area for the first time in years, after his earlier Paramount and Royalton hotels were unrecognizably altered by new owners.

But it’s taken a herculean joint venture involving some formidable dealmakers to set the stage for him — as is clear from the recent news of final plans for the Times Square Edition hotel at 701 Seventh Ave.

Last week’s official announcement might seem anticlimactic after two years of coverage. But it revealed much that’s new about the project at an iconic Midtown corner — an exquisitely complex collaboration involving a remarkable cast of characters including Steven Witkoff, Marriott International Chairman J.W. Marriott Sr. and CEO Arne Sorenson, Howard Lorber, Ian Schrager and Barry Sternlicht.

Among the new features: fewer guest rooms and much more retail space than was previously known, a requirement for Marriott to buy the project’s hotel portion from the developers in event of a default, and the withdrawal of a former major investor.
Since preliminary plans for the mixed-use tower were first announced in October 2012, numerous details have changed several times. Nothing unusual about that for a venture involving so many participants, public and private companies and requiring air-rights transfers from Broadway’s Booth and Plymouth theaters.

Modal Trigger
Here’s a sneak peek at what the skyline will look like with the addition of Marriott’s Edition.

But the twists and turns are worth following, because the 39-story tower will bring epic change to Times Square’s north end. It will rise on the northeast corner of Seventh Avenue at 47th Street, at the top of the “bow-tie” and across the street from 2 Times Square with its famous Coca-Cola sign. The rendering on this page shows the entire tower, crowned by the Edition sign, for the first time.

It will be Manhattan’s second Edition, following the planned completion of the first in 2015 at the landmarked Clock Tower at 5 Madison Ave. The “luxury lifestyle” Edition brand, which boutique-hotel wizard Schrager is creating in collaboration with Marriott, was conceived as Marriott’s answer to competitors attuned to younger, hipper clientele — especially Starwood Hotels and Resorts’ W line.

The Times Square Edition’s joint-venture developers are The Witkoff Group, Winthrop Realty Trust, Lorber’s New Valley LLC and Mark Siffin’s Maefield Development.
Gone from the lineup: Infinity Urban Century, whose co-managing partner Steve Kassin enthused to us over the project in October 2012. A rep for the development partnership said Maefield bought out Infinity’s stake.

Marriott International will manage the hotel under a long-term agreement. When opened in 2017, it will have 452 guest rooms (previous reports: 500); 100,000 square feet of retail, dining, entertainment and event space (previous: 66,360 square feet); and a huge, 18,000 square-foot high-def LED sign wrapping around the corner (previous: 12,700 square feet).

Sternlicht’s Starwood Property Trust and iStar Financial provided a $815 million construction loan, and Sternlicht’s Starwood Property Trust and Starwood Capital Group Global have an equity interest in the transaction, the venture partners said.
(Although Sternlicht is chairman both of privately held Starwood Capital Group and publicly traded Starwood Property Group, he has not been CEO of Marriott competitor Starwood Hotels & Resorts since 2005.)

As additional loan collateral at 701 Seventh Ave., Marriott “has agreed to provide the lenders with the right [in event of default] to require Marriott to purchase the hotel component … during the first two years after opening for $314.6 million,” or $696,000 per room.

As Lodging Advisors analyst/consultant Sean Hennessey explained, the so-called “put” clause” protects the developers, who “can maintain ownership if the hotel is successful,” but can “force Marriott to buy it [at cost] if not.”

A failure would seem highly unlikely given Marriott’s track record and the city’s booming hotel market. But the “put” made it easier to finance the project because the lender doesn’t have to underwrite the hotel, “since a quality operator, Marriott, is on the hook for the cost of the hotel,” Hennessey explained.

Preliminary plans for 701 Seventh Ave. first came to light in 2012 when Witkoff, Maefield, Infinity and New Valley — after years of secret negotiations with landlords and tenants — completed a $430 million acquisition of two corner buildings.

Once home to tourist magnets Sbarro’s, Tad’s Steaks and Pig & Whistle, they’re now wrapped in black netting to prepare for demolition — and a new wave of higher-spending visitors three years from now.
__________________

streetscapeer, KlausDiggy liked this post
Vertical_Gotham no está en línea   Reply With Quote
Old January 21st, 2014, 03:09 PM   #30
Manitopiaaa
Illuminati Leader
 
Manitopiaaa's Avatar
 
Join Date: Mar 2006
Location: Alexandria, Nova, The Crown Commonwealth of Virginia (see sig)
Posts: 4,428
Likes (Received): 10289

I like that new design a lot!
__________________


Atlanta (6,451,262) - Boston (8,176,376) - Chicago (9,882,634) - Cleveland (3,483,311) - Dallas (7,673,305) - Denver (3,470,235) - Detroit (5,318,653) - Houston (6,972,374)
Los Angeles (18,688,022) - Miami (6,723,472) - Minneapolis (3,894,820) - New York (23,689,255) - Orlando (3,202,927) - Philadelphia (7,179,357) - Phoenix (4,661,537)
Portland (3,160,488) - San Diego (3,317,749) - San Francisco (8,751,807) - Seattle (4,684,516) - Tampa (3,032,171) - Washington (9,665,892)

ChuckScraperMiami#1 liked this post
Manitopiaaa no está en línea   Reply With Quote
Old January 21st, 2014, 06:15 PM   #31
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488

Me too! Much better and will be a great addition to Times Square
__________________
-------------------------



Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)
Vertical_Gotham no está en línea   Reply With Quote
Old January 21st, 2014, 08:20 PM   #32
citybooster
Registered User
 
Join Date: Jan 2013
Posts: 943
Likes (Received): 509

Very cool, just wish it were taller. LOL I think a lot of us feel that way!
citybooster no está en línea   Reply With Quote
Old January 22nd, 2014, 12:23 AM   #33
Trex-md
In Reason We Trust
 
Trex-md's Avatar
 
Join Date: Dec 2013
Location: Maryland U.S. Of A
Posts: 259
Likes (Received): 162

I agree with you ciybooster. It would be nice if it had a a more unuiqe crown or a well lit spire.
__________________

ChuckScraperMiami#1 liked this post
Trex-md no está en línea   Reply With Quote
Old January 22nd, 2014, 12:33 AM   #34
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488

Quote:
Originally Posted by Trex-md View Post
I agree with you ciybooster. It would be nice if it had a a more unuiqe crown or a well lit spire.
A spire on a 500 footer?

I really like the revised look and satisfied with the crown. With the new rendering I am now excited about this project. ten fold!

I agree though, it would be nice if this sucker had a height increase because that is my wish for every all current projects in NYC.

Vertical_Gotham no está en línea   Reply With Quote
Old January 22nd, 2014, 11:57 AM   #35
citybooster
Registered User
 
Join Date: Jan 2013
Posts: 943
Likes (Received): 509

Quote:
Originally Posted by Vertical_Gotham View Post
A spire on a 500 footer?

I really like the revised look and satisfied with the crown. With the new rendering I am now excited about this project. ten fold!

I agree though, it would be nice if this sucker had a height increase because that is my wish for every all current projects in NYC.

Yep... if it were up to me projects like this would go no less than 700-800 ft. It's beautiful though even if this is ultimately what it will be both design and height wise.
citybooster no está en línea   Reply With Quote
Old January 23rd, 2014, 03:49 AM   #36
rencharles
We will never forget
 
rencharles's Avatar
 
Join Date: Apr 2008
Posts: 579
Likes (Received): 93

I share the same thought of the comments above. I'm a little less sad with this building now. The small changes in design gave a good impression. Although I wish it was louder (like everyone), I believe it will be a good filler for this place.
rencharles no está en línea   Reply With Quote
Old June 10th, 2014, 08:43 AM   #37
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53452

The Drapes of Doom, June 7


Nyc by i'm happy, on Flickr
__________________
We are floating in space...

ChuckScraperMiami#1 liked this post
desertpunk no está en línea   Reply With Quote
Old June 10th, 2014, 12:05 PM   #38
KlausDiggy
Registered User
 
Join Date: Jan 2013
Location: Leipzig
Posts: 4,126
Likes (Received): 8769

Very nice design. The building is as high as the tallest in my hometown.
KlausDiggy no está en línea   Reply With Quote
Old June 10th, 2014, 01:10 PM   #39
The seventh shape
Master of his domain
 
The seventh shape's Avatar
 
Join Date: Jan 2010
Posts: 1,357
Likes (Received): 821

I love the big screen, it's awesome how it wraps around the corner of the building. Don't understand why anyone wouldn't like it, isn't that what Times Square is all about? Nothing can be too flashy for Time's Square.
__________________

streetscapeer liked this post
The seventh shape no está en línea   Reply With Quote
Old June 12th, 2014, 10:27 AM   #40
aquablue
BANNED
 
aquablue's Avatar
 
Join Date: Mar 2006
Posts: 1,750
Likes (Received): 229

Will there be that girl's face on there all the time?
aquablue no está en línea   Reply With Quote


Reply

Tags
701 seventh ave., marriott edition, new york, times square

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 04:08 PM.


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