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Old May 3rd, 2013, 07:26 PM   #1
desertpunk
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NEW YORK | 118 Fulton Street | 231m | 758ft | 63 fl | T/O

From 48 stories to 63 now, this tower can't stop growing!

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Previously:

Lightstone Group Unveils 48-Story Financial District Tower



Quote:
Back in January, the Lightstone Group—best know around these parts for their massive Gowanus development—picked up a few pieces of property on Fulton Street in the Financial District. The $63 million, three-building purchase also came with air rights for three adjacent properties, and this week Lightstone unveiled their plans: knock it all down and build a new 48-story residential tower. Broker Luis Vazquez sent along the news, which was announced during a Community Board 1 meeting. The new building would have 463 units, 20 percent, or 93, of which would be affordable. There will be 20,000-square-feet of retail on the ground floor, and tenants of the soon-to-be-demolished buildings are not being given preference.

The current five- and six-story buildings sit at 112-120 Fulton Street and are home to a Radio Shack, Five Guys Burger, and a shoe store, among other things. Several businesses have already closed, and DNAinfo notes that demolition of the existing buildings could begin this summer. Permits have yet to be filed with the DOB. The plans need a zoning change, and CB1 gave Lightstone their support.

~Site sold:

Site of Planned FiDi Residential Tower Sells for $171M



Quote:
The Lightstone Group has flipped a massive Financial District property at the corner of Fulton and Dutch streets to the California-based Carmel Partners for a cool $171 million, Crain's reports. Megaproject-developer Lightstone acquired the site at 112-118 Fulton Street for $63 million just two years ago, with initial plans to erect a 48-story, 463-apartment residential tower; massive, in true Lightstone fashion. The sale of the now-vacant lots—Lightstone got so far as to raze what stood at the site—includes air rights for neighboring buildings, which will allow Carmel Partners to move ahead with a planned 63-story tower, which will presumably be residential.
The last iteration of this tower had it at 59 floors and 680 ft. tall. This new proposal could take it much higher given the hot market for lux condos downtown.

Last edited by sieradzanin1; October 26th, 2015 at 01:14 PM.
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Old May 3rd, 2013, 07:36 PM   #2
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good addition to lower manhattan
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Old May 3rd, 2013, 09:19 PM   #3
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That box on the top
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Old May 3rd, 2013, 10:03 PM   #4
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That will probably change. This looks to me like just a model.
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Old May 4th, 2013, 04:49 AM   #5
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That rendering looks about right. This is a very shoddy, low-rent district. Thus, to maximize profits, they'll construct the cheapest possible tower for which they can rent 1 bedrooms for $4k per month.

Sadly, some beautiful, old buildings will be razed.
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Old May 4th, 2013, 05:59 AM   #6
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The buildings proposed to be demolished don't seem like they would be a major loss, and at least the mid-rise on the opposite corner is staying, but what a boring tower a stone's throw away from 1WTC!
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Old May 4th, 2013, 06:05 AM   #7
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It's far better than the new Hilton under construction on Washington Street.

It's a decent International Modernist design...we'll see if they stick true to that style.
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Old May 4th, 2013, 06:17 AM   #8
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Quote:
Originally Posted by RegentHouse View Post
The buildings proposed to be demolished don't seem like they would be a major loss, and at least the mid-rise on the opposite corner is staying, but what a boring tower a stone's throw away from 1WTC!
I think that practically everything built in the 19th Century and earlier should be preserved. You might not be looking at the right set of buildings that will be razed.
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Old May 4th, 2013, 06:18 AM   #9
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Quote:
Originally Posted by ThatOneGuy View Post
It's a decent International Modernist design...we'll see if they stick true to that style.
I've never seen a blue International Style building before. NYC has plenty of said buildings, as well as existing neo-modernist revivals. I wish the developer and architects were a little more understanding that this is a residential building, and not an office tower.
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Old May 4th, 2013, 06:23 AM   #10
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As noted, they''re looking to put up the simplest tower that they can. Anything new will generate $4k per month rents for a 1 bedroom and that's their sole goal.
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Old May 4th, 2013, 06:25 AM   #11
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LOL a prefabricated concrete block would look more in place.
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Old May 4th, 2013, 07:21 AM   #12
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I wonder if the ground floor will feature off-price shoes stores and opticians.
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Old May 4th, 2013, 01:21 PM   #13
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RIP


Dnainfo.com
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Last edited by RobertWalpole; May 4th, 2013 at 01:26 PM.
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Old May 4th, 2013, 06:38 PM   #14
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Those white pillars don't look good on that building. Out of place...
There are far nicer old buildings in NYC abolutely everywhere, anyway...
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Old May 4th, 2013, 06:42 PM   #15
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Why can't they just build on top of the older buildings, or at least keep their façade?
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Last edited by CF221; May 4th, 2013 at 06:43 PM. Reason: nvmd
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Old May 4th, 2013, 06:44 PM   #16
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Because it's difficult, expensive, and pointless to do it to these buildings.
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Old May 4th, 2013, 11:48 PM   #17
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Nice to see a tower developing here. I'll wait for some better renders.
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Old July 11th, 2013, 05:20 AM   #18
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somebody should check the progress of this one if they get the time. According to dnainfo they can build this tower as-of-right, and apparently work was slated to begin this summer. It might be in demo by now if they're on schedule. http://www.dnainfo.com/new-york/2013...et-this-summer

Quote:
Correction: An earlier version of this story stated that the development requires a zoning change, but the project is as-of-right.
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Old July 11th, 2013, 06:05 AM   #19
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As glad as I am to see a new development downtown, I'm not crazy about the boxy design. I wish one developer would come up with the idea to build another spire tower downtown. Lower Manhattan has so many of them, why doesn't a developer dream to build one to compete even surpass the old spires?
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Old July 25th, 2013, 02:35 AM   #20
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120 Fulton Could Be Underway Soon



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FINANCIAL DISTRICT—A tipster informs us that construction fencings has gone up at the 112-120 Fulton Street site where the Lightstone Group is building a 48-story tower (pictured at right). The developer will tear down the existing buildings on the site, but no demolition permits have yet been filed. Alteration permits have been approved, though, so we expect demo work will soon follow.
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