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Old August 29th, 2014, 08:23 AM   #21
desertpunk
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Quote:
Originally Posted by bodegavendetta View Post
Well, if this is indeed going to be anything like One57 then half the units will be vacant investment properties owned by sketchy LLC's.

But hey, for those that will end up actually living there, there is something to be said for living mere feet away from broadway theatres.
Most real estate price discovery only happens by the third owner so...whatevs.
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Old August 29th, 2014, 01:03 PM   #22
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Call me bitter, but that little market is much more valuable for the city then a new skyscraper...

(yes, i do like the tall buildings and architecture in general, thats why i'm here )
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Old September 1st, 2014, 10:35 AM   #23
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The market will likely move to a new spot.

I too think little markets like that are invaluable to the city, but the Times Square area isn't really known or frankly suited for little charms like that anyway.
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Old December 13th, 2014, 09:14 AM   #24
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New Times Square mega tower one step closer to becoming reality

Gary Barnett's Extell Development acquires key piece in 45th St. assemblage for $46M

http://www.nydailynews.com/life-styl...icle-1.2043630

Quote:
Developer to the 1% Gary Barnett is one step closer to bringing another monolithic tower to Midtown.

His company, Extell Development, has closed on the purchase of a 52,000-square-foot parking facility at 251 W. 45th St. for $45.78 million, according to public records. The garage can be razed and combined with an adjacent empty lot already owned by Extell to make way for a skyline altering building.

Experts said the Times Square tower could be Barnett’s tallest yet and would most likely be a hotel, despite Barnett’s tendency towards building luxurious condos.

“This is not really the right place for apartments,” said broker and analyst Robert Shapiro of Center City Real Estate. “With these large floor plates, he’d be better off with a hotel or offices.”

Barnett, a master of assembling prime Manhattan development sites and the developer of One57 on W. 57th St.’s Billionaires’ Row, has been patching together the site for years.

The parking lot is one of several key pieces in a larger assemblage

Quote:
He acquired a key part of the site last year in an unconventional property swap deal with real estate giant the Related Companies, which swapped it for another piece of land in the Hudson Yards area on the west side.

Since then, Barnett has been hungrily buying up air rights from theaters in the neighborhood in order to make his tower even taller.

Barnett did not respond to a request for comment on his plans for the building.
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Old December 13th, 2014, 09:30 AM   #25
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Naughty developer. I hope he takes this one to the Moon!
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Old December 13th, 2014, 03:27 PM   #26
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Wow! Another 400m+ tower or even a skyline altering 500m+ behemoth? That would be epic!
Barnett is still the man.

EDIT: Barnett should use Gensler's Seattle design and make it 1,600ft:




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Old December 13th, 2014, 04:28 PM   #27
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I wonder what Barnett will do here. Clearly, part of this will be a hotel. There also could be a large rental portion. He potentially could have condos at the top. This is obviously not a luxury residential area, but I'd bet very high condos would sell at $2k sf, which is not high by NY standards, but it's still WAY more than the most upscale condos sell for in Chi, for example. Some Buyers might want to be in Times Sq.

On the other hand, Barnett also could build a 200m-250m tower with an enormous retail component.

I assume that the article merely speculated about the "tallest tower" point.
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Old December 13th, 2014, 05:48 PM   #28
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anything in the 150-200m range could be skyline altering to the west of Times Square. I think it goes without saying that this will not be taller than 225 w 57th. It would be interesting to see an actual supertall on this side of midtown though. Anything to the west of Times Square is <250m roof height.


Panorama of Midtown Manhattan Skyline during Cruise Departure by CrapulePHL, on Flickr
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Old December 15th, 2014, 03:28 PM   #29
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That's a Big site. Bigger than the Nordstrom site but will it be as tall?
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Old December 15th, 2014, 05:12 PM   #30
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How many square feet does Extell have now?
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Old December 15th, 2014, 05:50 PM   #31
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Quote:
Originally Posted by bodegavendetta View Post
Well, if this is indeed going to be anything like One57 then half the units will be vacant investment properties owned by sketchy LLC's.

But hey, for those that will end up actually living there, there is something to be said for living mere feet away from broadway theatres.
as long as these guys pay cash - nothing is really wrong with their investments. after all - it seems like American economy is going up and people around the world have no other place to invest their money as safe and sound as NYC can provide. besides, with all due respect - some of these places along 8th avenue - are pure slums. dirty, dusty, totally lost in the middle of it. I tried to walk down 8th avenue from 59th street and I tell you if it was up to me - half of the avenue should be raised and cleared for new skyscrapers, possibly supertall construction. it is literally nothing worth saving there sometimes on the whole city block.

I am very conscious about the old buildings in NYC. Especially ones that has something of an architectural value, design and interiors. But in this place there is literally nothing worthy.
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Old December 15th, 2014, 05:52 PM   #32
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Naughty developer. I hope he takes this one to the Moon!
As long as he will not become another Trump - god bless him and his naughtiness.
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Old January 13th, 2015, 05:34 AM   #33
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The site today.



Bonus shot

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Old January 13th, 2015, 06:33 AM   #34
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Beautiful development, I love NYC, I´ve always admired this city, congrats newyorkers. NY is the capital of the new world.
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Old February 25th, 2015, 04:56 AM   #35
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Waiting for Godot!

Today


[IMG]https://farm9.staticflickr.com/8668/16639133072_11a2bf285a_b.jpg[/IM




The Music Box Theatre next door.


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Old June 3rd, 2016, 10:44 PM   #36
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Gary Barnett-owned Manhattan site may be home to the Northeast's inaugural Hard Rock Hotel
http://www.crainsnewyork.com/article...the-northeasts

Quote:
Could a site owned by Gary Barnett's Extell Development Co. be the home of New York's first Hard Rock Hotel?

Barnett has assembled several parcels on the west side of Eighth Avenue between West 45th and 46th streets, including a garage he purchased last summer for nearly $46 million, to create a development site that can accommodate a soaring tower.

Hard Rock plans to announce Monday the location of what the firm says will be its first hotel in the Northeast U.S., in a partnership with Barnett
. Hard Rock, owned by the American Indian Seminole Tribe in Florida, operates a successful restaurant in Times Square.

Neither Barnett nor a spokesperson for Hard Rock would comment on the location, which the company plans to unveil Monday.

Barnett owns other properties in the area, including a development site at 1710 Broadway at the north end of Times Square that can accommodate a super-tall skyscraper and is also a potential location for the Hard Rock.
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Old July 4th, 2016, 01:17 AM   #37
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The parking garage is coming down. Demo is underway.
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Old October 6th, 2016, 08:27 PM   #38
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Garage is gone, didn't see any equipment on site though :

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