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Old January 30th, 2015, 05:48 AM   #1
LondoniumLex
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NEW YORK | 131 E. 47th St. | 177m | 581ft | 49 fl | Pro

Commercial Observer
FEATURED: ICSC 2014
IMPENDING SALE

Extell Nears $80M Sale of East 47th Street Site [Updated]
BY LAUREN ELKIES SCHRAM 11/17/14 6:22PM


131-141 East 47th Street. (Masskey Knakal Realty Services marketing materials)
Gary Barnett‘s Extell Development is close to selling off a four-building site with 128,034 buildable square feet for around $80 million, Commercial Observer has learned.

The four contiguous buildings at 131-141 East 47th Street between Third and Lexington Avenues have a combined $80 million asking price, according to the Massey Knakal Realty Services marketing materials. The site includes an 11-story parking garage and three, four-story mixed-use walkup buildings. It is a ground-up mixed-use development site, which has garnered interest from hotel as well as residential developers, according to Massey Knakal’s Robert Knakal, who is marketing the properties with colleagues Clint Olsen, Jonathan Hageman, Ax Hayssen and Patrick Yannotta. Mr. Knakal expects to have a contract signed soon.

Sources with intimate knowledge of the deal said the asking price had been $81 million before being revised to $80 million.

While Mr. Knakal declined to cite the asking price, he said he expects to sell the site for “around the asking price.”

Extell bought the parking facility at 131-135 East 47th Street along with another one at 332 West 44th Street from Central Parking Corporation in January 2012 for $39 million. And he bought 139 East 47th Street for $5.5 million in May 2012, 137 East 47th Street for $8 million in May 2013 and 141 East 47th Street in October 2013 for $9 million, all from different sellers, property records indicate.

The entire site will be delivered vacant.

“We’re selling a number of pieces of property,” Mr. Barnett said. “[These properties are] not strategic for us. They’re not that big. We have enough on our plate. We’re focusing on certain specific projects. We can’t do everything.”

Update: This story was edited to include a comment from Gary Barnett.

FOLLOW LAUREN ELKIES SCHRAM ON TWITTER OR VIA RSS. [email protected]

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Old January 30th, 2015, 05:50 AM   #2
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28th of Jan

The buildings are empty and ready to
Come down. But for the garage, they were quite nice.



The hotel rising next door is taking shape.



c3d Architecture does nice work on smallish towers
http://www.c3darchitecture.com/#/145e-47th-st/

Last edited by LondoniumLex; January 30th, 2015 at 05:55 AM.
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Old November 2nd, 2015, 04:43 AM   #3
desertpunk
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Revealed: 131-141 East 47th Street, 50-Story Midtown East Condo Tower

Quote:
By: Nikolai Fedak 8:00 am on June 8, 2015


UPDATE: Per the developer, SLCE Architects is designing the building.

Earlier this year, YIMBY posted preliminary renderings for a new project coming to 131-141 East 47th Street, in Midtown East. Now, we have new images for the (approximately) 50-story building.

Developer New Empire Real Estate sent along the renderings, and also notes that the original information regarding the project is outdated; the structure will now be entirely residential, with luxury condominiums instead of a mix of uses. The renderings show a soaring lobby with generous ceiling heights above, and the building will have 138 units spanning 168,178 square feet, for an average of over 1,200 square feet per condo. 50 parking spaces will also be included.

e permits have not yet been filed with the Department of Buildings, it seems likely the structure would stand between 600 and 700 feet tall. This is quickly becoming a new dominant typology for residential skyscrapers in Midtown and Midtown South, and while price-points are certainly high, they are far below the dollars commanded by the new 57th Street buildings.



http://newyorkyimby.com/2015/06/reve...ndo-tower.html
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Old November 2nd, 2015, 04:44 AM   #4
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http://newyorkyimby.com/2015/06/reve...ndo-tower.html
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Old November 2nd, 2015, 08:25 PM   #5
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Looks good
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Old November 2nd, 2015, 11:12 PM   #6
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Quote:
Originally Posted by desertpunk View Post
What's that unfinished looking building to its right?
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Old November 2nd, 2015, 11:59 PM   #7
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That seems to be the now almost finished hotel, but I guess they dind't know how it would look look like when they made that render.
Anyway, this seems great, much better than what is there now. It looks like it's floating over the atrium.
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Old April 2nd, 2016, 06:11 AM   #8
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Developer Files For 49-Story, 122-Unit Residential Tower At 131 East 47th Street, Midtown East

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Over the summer of 2015, YIMBY revealed renderings of New Empire Real Estate’s planned high-rise residential tower at 131 East 47th Street, in Midtown East, and now new building applications have been filed with the Department of Buildings. The 122-unit building will encompass 173,059 square feet and will rise 49 stories, or 581 feet, above street level. Beginning on the second story, there will be three residential units per floor through floor 12 and floors 14 through 35, then two units per floor on floors 37 through 47. The 48th floor will contain a full-floor penthouse, and floors 13, 36, and 49 will contain mechanical equipment.

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Old April 4th, 2016, 01:08 AM   #9
Eric Offereins
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The entrance and lobby are probably the most interesting feature of this tower.
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