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Old May 22nd, 2013, 04:36 PM   #1
RobertWalpole
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NEW YORK | Madison Square Park Tower | 237m | 777ft | 63 fl | Com




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http://online.wsj.com/article/SB1000...YWORDS=eichner

For Developer, 3 Could Be Charm

By ELIOT BROWN



Ian Bruce Eichner, a developer whose high-profile problems became symbols of the last two real-estate busts, is in final stages of a deal to buy a condominium development site near Manhattan's Flatiron Building.

Looking to mount his latest comeback, Mr. Eichner is preparing to spend more than $100 million to buy the site as well as air rights that would enable him to build a nearly 800-foot tower with more than 90 units, according to real-estate executives briefed on the project. The slim, glass condo tower he is planning, designed by architecture firm Kohn Pedersen Fox Associates, would be the tallest building between the Empire State Building and downtown.

Similar to many developers moving ahead with new condo projects recently, Mr. Eichner is targeting the upper end of the market, real-estate executives said. Similar to others, he has been emboldened by the high prices that are being fetched these days—more than $3,000 a square foot in Greenwich Village and more than $5,000 a square foot for some units by Central Park.

A spokesman for Mr. Eichner declined to comment. He is hoping to complete the purchase of the site and air rights in the next few weeks, the executives said. The site is owned by One Hand Realty LLC, while the air rights are from a variety of properties nearby. One Hand couldn't be reached for comment.

The tower, on East 22nd St. between Broadway and Park Avenue South, would be only 50 feet wide at the base but would expand like a slender champagne flute and be wider at the top, a rendering reviewed by The Wall Street Journal shows....
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Old May 22nd, 2013, 04:49 PM   #2
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Can a moderator add 244 m to the title?
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Old May 22nd, 2013, 05:00 PM   #3
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Wow, only a 2,500 square ft. base? That's barely 25% the space per floor that 432 Park uses (and about what my house's is ). Weird location, strange shape, so any renders?
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Old May 22nd, 2013, 06:14 PM   #4
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None are available yet. It sounds interesting though.
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Old May 22nd, 2013, 06:31 PM   #5
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Thinking about it looking like a champagne flute interests and scares me
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Old May 22nd, 2013, 06:36 PM   #6
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Thinking about it looking like a champagne flute interests and scares me
First thing that came to my mind was that monstrosity in Macau. Hopefully this will be much classier.
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Old May 22nd, 2013, 06:44 PM   #7
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Neat location, that's right across Gramercy Park. If this tower ends up being 800 feet tall, it will have quite an impact on the skyline, given the location.

Quote:
a rendering reviewed by The Wall Street Journal shows
Meaning there should be a rendering available pretty soon.
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Old May 22nd, 2013, 08:00 PM   #8
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This is really a good location, no boring box allowed here.
Btw a few meters away next to these buildings in the pic right behind 1 Madison Park there is a 351 ft building on-hold.
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Old May 22nd, 2013, 08:03 PM   #9
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Sounds like it'll be cylindrical. New York's skyline could really use this!
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Old May 22nd, 2013, 08:36 PM   #10
RobertWalpole
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The author of the article, who saw the rendering, described it as a champagne flute.

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Old May 22nd, 2013, 08:46 PM   #11
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I think he just meant that it will be round. A flared cylinder.

Interesting that I read the description differently, and assumed that it will probably flat on two sides but bow outward as it reaches the top, something like the Ritz in LA:

Interiordesign.net
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Old May 22nd, 2013, 09:58 PM   #12
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I'd bet it'll be more like this. If it was like a normal one you couldn't have rooms along most of the tower.
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Old May 22nd, 2013, 11:15 PM   #13
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KPF's work is usually awesome.
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Old May 22nd, 2013, 11:54 PM   #14
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So do you guys think it'll be similar to Hermitage Plaza in Paris?
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Old May 23rd, 2013, 01:11 AM   #15
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http://blogs.wsj.com/developments/20...ake-manhattan/

May 22, 2013, 4:44 PM.Small Footprints, Tall Towers: Skinny Condos Take Manhattan.Article

432 Park, shown in this rendering, is slated to rise nearly 1,400 feet when completed in 2015, which would make it the tallest residential building in the U.S.Another day, another plan for a soaring, skinny Manhattan condo tower.

As reported in Wednesday’s Wall Street Journal, developer Bruce Eichner has reached a series of deals to buy a development site south of Manhattan’s Madison Square Park, where he plans a nearly 800-foot condo tower on a lot just 50 feet wide, according to people familiar with the matter.Such towering ambitions have become all the rage in Manhattan these days, as booming demand for super-luxury apartments in the country’s most expensive real-estate market has changed the economics of development. Apartment builders used to prefer wide sites that could take months or years to assemble, as building tall and thin is a pricey proposition. But with buyers paying more than $3,000 per square foot for sweeping views 40 stories in the air—or more than $5,000 in some cases—suddenly it pencils financially to build even on small lots. (That is, assuming buyers will continue to pay such sums.)

So long as the zoning in key parts of Manhattan is without height restrictions and developers can assemble the needed air rights from neighboring property owners, the building boom stands to change the New York skyline, sprinkling it with needle-like towers that reach to the skies. And unlike the typical office skyscraper—which can hold 5,000-plus workers—these buildings are set to host between 80 and 150 families, some of whom aren’t planning on living in them full time.

While tall and thin towers are popping up outside of New York as well—they tend to be in land-starved spots like Vancouver, Hong Kong and Singapore—the boom in Manhattan is particularly notable given the spate of new projects started since late 2010.

Here’s a rundown of others in New York that are under way:

432 Park, a 1,396-foot under-construction tower on Park Avenue that looks like giant checkerboard stretched out on a stick, with floors that are about 8,250 square feet in size. Dozens of units are priced above $15 million.

One57, the 1,004-foot tower just south of Central Park that’s nearly finished. Developer Extell has said two buyers have agreed to pay more than $90 million apiece for two penthouses.

30 Park Place, a 926-foot Robert A.M. Stern-designed tower that is set to host a Four Seasons two blocks north of the World Trade Center site. Developer Larry Silverstein and his partner earlier this month reached a financing deal for the building, which is scheduled to start construction in the fall.

56 Leonard, the nearly-800 foot tower rising in TriBeCa that’s slated to look like a giant glass Jenga set. Construction began recently.

Baccarat Hotel, a 605-foot Starwood Capital Group project on 53rd Street west of Fifth Avenue that is under construction. Condos are slated to be on the top floors, with the rest of the building a hotel.


One Madison Park, a 597-foot slim tower on East 23rd Street. It was nearly completed, but stalled during the real estate bust. A new set of developers including the Related Cos. are finishing it now.

Others planned, but not as far along in financing or construction:

Extell Development has filed a building permit application to construct a 1,550-foot tower in Midtown atop the city’s first Nordstrom, which would be 300 feet taller than the Empire State Building. The developer has tapped Adrian Smith + Gordon Gill Architecture to design the building.

Hines/MoMA tower, a 1,050 foot spear-like tower designed by Jean Nouvel that’s been planned since 2007.....
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Old May 23rd, 2013, 06:14 AM   #16
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Interesting project!


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Originally Posted by L.A.F.2. View Post
So do you guys think it'll be similar to Hermitage Plaza in Paris?
Those champagne flutes would be hard to beat!
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Old May 29th, 2013, 01:21 AM   #17
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Skinny toothpick skyscrapers are destroying Manhattan, but the shape of this may make it an exception. Also, 30 Park Place is no toothpick. It's a masterpiece in the making.
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Old May 29th, 2013, 01:29 AM   #18
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No way, these new towers are great. I much prefer them over squat boxes.
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Old May 29th, 2013, 02:03 AM   #19
RobertWalpole
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Skinny toothpick skyscrapers are destroying Manhattan, but the shape of this may make it an exception. Also, 30 Park Place is no toothpick. It's a masterpiece in the making.
Many of the greatest pre-War skyscrapers, such as the Woolworth, Chrysler, etc. Consist of toothpick towers that rise from much bigger bases. The bases, however, are completely invisible in the skyline. Only the very narrow towers can be seen.
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Old May 29th, 2013, 02:31 AM   #20
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Quote:
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No way, these new towers are great. I much prefer them over squat boxes.
So do I, but The New York Times and Bank of America Towers are the best type of footprint, because they have large floor areas and are tall at the same time, commanding a grand presence on the skyline.

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Many of the greatest pre-War skyscrapers, such as the Woolworth, Chrysler, etc. Consist of toothpick towers that rise from much bigger bases. The bases, however, are completely invisible in the skyline. Only the very narrow towers can be seen.
The Woolworth and Chrysler Buildings still span a block at their bases, and they are always complemented by tall neighbors. Towers like One Madison stick out from the row of their low-rise neighbors, looking completely out of place, hence being called "toothpick" skyscrapers. It just goes to show as well, because usually toothpicks are designed by the "intellectual" architect crowd, instead of superarchitects like KPF or SOM.
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