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 > Skyscrapers > Proposed Skyscrapers



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 June 4th, 2013, 12:27 AM   #21
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

We'll see. The new buyers have not mentioned a redevelopment yet, so this will be on the backburner for a while.
RobertWalpole no está en línea   Reply With Quote

Sponsored Links
Old June 5th, 2013, 01:27 AM   #22
MarshallKnight
Registered User
 
MarshallKnight's Avatar
 
Join Date: Feb 2013
Location: From the Bay to L.A.
Posts: 2,349
Likes (Received): 3597

Who won the bidding war? I also don't have a WSJ account.
MarshallKnight no está en línea   Reply With Quote
Old June 6th, 2013, 07:47 PM   #23
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

http://therealdeal.com/blog/2013/06/...n-core-assets/

Jeff Blau projects “hairy” exits, refi problems for investors in core assets
Related exec said company is focused on increasing value of investment in

CommonWealth REIT

June 04, 2013 06:00PM
By Katherine Clarke

Related Companies CEO Jeff Blau is concerned that the free flow of debt and equity financing for core New York City commercial buildings will mean future trouble for investors who’ve been snapping up trophy assets with in place cash-flow....


For instance, Crown Acquisitions and Highgate Holdings will probably borrow up to $1.1 billion against a 27-story office and retail tower at 650 Madison Avenue, between 59th and 60th streets, that they acquired for $1.3 billion less than a week ago, Blau speculated....

However, 650 Madison is a unique investment for its potential as a prospective residential play, Blau said.

“The leases all expire by 2024,” he said, identifying the acquisition by Crown and Highgate as a prospective “redevelopment play.” With retail rents and residential condominium prices at historic highs in and around Central Park, “it could make sense to tear down a $1.3 billion office building,” he said....
__________________

Kanto liked this post
RobertWalpole no está en línea   Reply With Quote
Old June 6th, 2013, 10:20 PM   #24
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6489

Quote:
Originally Posted by RobertWalpole View Post
http://therealdeal.com/blog/2013/06/...n-core-assets/

“The leases all expire by 2024,” he said, identifying the acquisition by Crown and Highgate as a prospective “redevelopment play.” With retail rents and residential condominium prices at historic highs in and around Central Park, “it could make sense to tear down a $1.3 billion office building,” he said....
2024?? Well... we should not expect anything from this site in the immediate future if they intend to raze this. No doubt this piece of property is prime real estate. This location is premium if they decide to build a nice retail base and condo's here and should easily make a bundle if they decide to.
Vertical_Gotham no está en línea   Reply With Quote
Old June 6th, 2013, 10:47 PM   #25
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

It's interesting that Blau gave that date because his company, Related, is courting Ralph Lauren (which occupies 75% of 650 Madison) to be a tenant in the North Tower. I'm sure that the new owners of 650 would not object if Ralph vacates in 5 years.
RobertWalpole no está en línea   Reply With Quote
Old June 6th, 2013, 11:12 PM   #26
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6489

Quote:
Originally Posted by RobertWalpole View Post
I'm sure that the new owners of 650 would not object if Ralph vacates in 5 years.
True indeed! hopefully RL HQ looks to the Yards.
Vertical_Gotham no está en línea   Reply With Quote
Old July 9th, 2013, 01:16 AM   #27
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

From therealdeal.com:

The Closing: Ziel Feldman on Gary Barnett, roller coasters and the Jewish singles scene
July 01, 2013
By Katherine Clarke

Ziel Feldman is the founder of investment and development company HFZ Capital Group...

You were a bidder in the race to buy 650 Madison Avenue last month. What’s the story behind that?

The story’s not over yet.
RobertWalpole no está en línea   Reply With Quote
Old July 9th, 2013, 02:21 PM   #28
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6489

Quote:
Originally Posted by RobertWalpole View Post
From therealdeal.com:

The Closing: Ziel Feldman on Gary Barnett, roller coasters and the Jewish singles scene
July 01, 2013
By Katherine Clarke

Ziel Feldman is the founder of investment and development company HFZ Capital Group...

You were a bidder in the race to buy 650 Madison Avenue last month. What’s the story behind that?

The story’s not over yet.
Ooh I love a good cliff hanger!
__________________
-------------------------



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 October 2nd, 2013, 02:08 AM   #29
RobertWalpole
BANNED
 
Join Date: Mar 2010
Posts: 4,607
Likes (Received): 2508

http://www.globest.com/news/12_703/n...se-338167.html

RobertWalpole no está en línea   Reply With Quote
Old October 2nd, 2013, 02:10 AM   #30
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,643
Likes (Received): 53462

There is a thread for this!
__________________
We are floating in space...
desertpunk no está en línea   Reply With Quote
Old October 2nd, 2013, 02:12 AM   #31
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,643
Likes (Received): 53462



CRE Power Quad Makes $1.3B Purchase



Quote:
NEW YORK CITY-Seeing appeal both in its current and possible future incarnations, a joint venture between Oxford Properties, Vornado Realty Trust, Crown Acquisitions and Highgate Holdings—together with institutional investors advised by J.P. Morgan Asset Management, has acquired 650 Madison Ave.—for $1.3 billion. The Carlyle Group was the seller.

The 27-story, 594,000 square foot Class A office tower, located on the full western block front of Madison Avenue between 59th and 60th streets. The property contains 523,000 square feet of office space and 71,000 square feet of retail space. The office space is the world headquarters for Polo Ralph Lauren, which occupies 274,000 square feet. The retail space is primarily leased to Crate & Barrel for its 61,400-square-foot flagship Manhattan store, and to Tod’s, a shoe and leather goods specialty store spanning 7,900 square feet.

The building likely generated interest from four leading commercial real estate firms because not only is it a trophy asset in its current configuration, it has great potential for other uses, Oxford senior managing director Andrew Trickett tells GlobeSt.com.

“It’s a unique asset with unique optionality,” he says. “As an existing asset it features world class retail and a Class A office building. Long-term, there’s a residential optionality because of our park views and our as of right ability to build. It’s a great residential location.”

It would be premature to say just how high the building could go, Trickett notes, and he was uncertain of just how far into the future such a long-term plan might be put into place. He declined to say just how much of the building Oxford now owns.

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

Kanto liked this post
desertpunk no está en línea   Reply With Quote
Old October 2nd, 2013, 02:38 AM   #32
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6489

Quote:
Originally Posted by desertpunk View Post
There is a thread for this!
Lol. I forgot to mention this to you.
__________________
-------------------------



Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

desertpunk liked this post
Vertical_Gotham no está en línea   Reply With Quote
Old October 3rd, 2013, 04:33 AM   #33
ThatOneGuy
Psst! Check my signature!
 
ThatOneGuy's Avatar
 
Join Date: Jan 2012
Location: Toronto - Bucharest - Freeport
Posts: 21,570

So is this building doomed or will it be refit?
ThatOneGuy no está en línea   Reply With Quote


Reply

Tags
650 madison ave., midtown, new york

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 04:19 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium