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Old October 12th, 2013, 01:16 AM   #1
RobertWalpole
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NEW YORK | Shvo Central Park Tower | +300m | +984ft | 100 fl | Pro

http://www.nytimes.com/2013/10/13/re...ref=realestate
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Old October 12th, 2013, 01:24 AM   #2
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A bit premature, no?

But it does sound compelling:

Quote:
Despite his critics, Mr. Shvo is forging ahead. He recently went into contract for a second, even more ambitious development, in partnership with Erez Itzhaki of the Keystone Group. The project, 100 Varick Street, is to be built on nearly half an acre between Broome and Watts Streets. The site is an assemblage of several town houses, development parcels and air rights that took six months to acquire. The developers are proposing a 30-story condominium and expect to complete more than $800 million in sales. He says he also is putting together two deals near Central Park in Midtown, one of them for a 100-story tower.
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Old October 12th, 2013, 01:28 AM   #3
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WOW the 100 story building sound awesome!!! perhaps it could break the 500 m mark (to roof).
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Old October 12th, 2013, 01:37 AM   #4
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I wonder where. Maybe the lame rental on 57th and 6th with the three adjacent empty lots.
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Old October 12th, 2013, 01:40 AM   #5
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Quote:
Originally Posted by RobertWalpole View Post
I wonder where. Maybe the lame rental on 57th and 6th with the three adjacent empty lots.
I wonder what might replace the crappy Park Lane Hotel...
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Old October 12th, 2013, 01:40 AM   #6
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Quote:
Originally Posted by -Corey- View Post
WOW the 100 story building sound awesome!!! perhaps it could break the 500 m mark (to roof).
Well, we have five 400m+ towers with only 80 something storeys. So a 100 storey building in New York sure sounds incredible! Let's wait and see how this will develop.

And btw Punk, can you change thread title to 300m+? Thanks.
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Old October 12th, 2013, 01:43 AM   #7
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NYC is on FIRE!
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Old October 12th, 2013, 02:27 AM   #8
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The Hadasah site is a possibility, although it is situated right behind the Park Lane, and therefore, could have obscured views.

Other possible sites are:

(1) 16-18 W 57th, which -- I believe -- is adjacent to a 56th St development site formerly occupied by the American Cancer Society;

(2) 52-56 W 57th with (or without) the market-rate rental next door; or

(3) the Director's Guild at 110 W 57th.

In any event, Shvo has connections to Israeli and Russian money. Thus, this is real.

P.S.: The Schvo-ster alluded to two Midtown projects earlier this month in the following interviews with the NYT and The Real Deal:

http://www.nytimes.com/2013/10/02/re...s&emc=rss&_r=0

http://therealdeal.com/blog/2013/08/...lopment-sites/
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Old October 12th, 2013, 06:06 AM   #9
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Holy crap! 100 storey @ 57th street?

Maybe he gets some Chinese $$. Ahem , like Mr Wanda?

I think ShoP should get the job!
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Old October 12th, 2013, 06:22 AM   #10
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That's possible. We should hear something from Wanda soon.
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Old October 12th, 2013, 07:30 AM   #11
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Even if this doesn't get built, 57th Street will become the densest corridor in the entire world. If this does go up, it will be completely unrivaled, and 100% insane; four supertalls in the span of one mile is crazy enough given the urban canyon that has developed. A 100-story tower would likely be in the 1,600 to 1,800' range, and would utterly dwarf One57 - which is only just finishing up!
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Old October 12th, 2013, 09:06 AM   #12
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100 stories, amazing. This will almost certainly be mixed use, I wonder how tall it could end up?
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Old October 12th, 2013, 11:15 AM   #13
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sounds cool, hope we'll hear more of it soon
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Old October 12th, 2013, 03:33 PM   #14
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The most interesting part, in my view, will be to see just how long this spree lasts. Of course, it's all happening because New York is the real estate safe haven of the world. I'm sure I shouldn't expect it to slow down all too substantially in the coming decade, and I'm not sure New York's global status will ever change, but you have to wonder at what point it becomes too good to be true.
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Old October 12th, 2013, 03:55 PM   #15
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I feel the same tbh, it's as though New Yorks current booming stage seems to be never ending! it's got to die down sometime surely! but I'm not complaining at all if it doesn't
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Old October 12th, 2013, 05:34 PM   #16
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Awesome news! 57th Street is on fire, baby!
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Old October 12th, 2013, 05:49 PM   #17
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Sounds absolutely promising!

Quote:
Mr. Shvo, as the story goes, arrived in New York in 1996 from Israel with just $3,000 in his pocket. He managed a fleet of taxis before becoming a broker at Douglas Elliman, where he quickly rose up the ranks. By 2003, at age 30, Mr. Shvo was the firm’s top producer, with more than 400 deals totaling $300 million in sales.
From 2003 until 2008,” he said, “I did $15 billion worth of real estate deals worldwide.
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Old October 12th, 2013, 05:50 PM   #18
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Awesome life story there.
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Old October 12th, 2013, 07:48 PM   #19
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Look forward to seeing this project develop.
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Old October 12th, 2013, 08:20 PM   #20
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Quote:
Originally Posted by meh_cd View Post
Nothing lasts forever, and just like other booms there will probably be some nice towers that do not end up being built.
This is the very highest end of the market. Deals are done with CASH. When the demands begins to soften (and it will), developers will focus further down the chain. NYC has a shortage of apartments in the $1-3 million range. There will be plenty of these built in several boroughs. But they don't get built around Central Park, and they may not be supertalls.
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