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 > Highrises > Proposed Highrises



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 October 1st, 2013, 09:19 PM   #1
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

A longstanding proposal to build a 265,000 sq. ft. hotel opposite the Javits Center has acquired financing and is back on:

---------------------------------------------------------------------------------------------------------


420 Key Hotel back On At Hudson yards



Quote:
On 11th Avenue, a long-delayed 420-room hotel project which first got going in 2007 is back on track thanks to a cash infusion.

Real estate investor and developer David Marx has secured a loan to finally close — for a second time — on a Hudson Yards hotel site at 448 11th Avenue, an executive with the lender told The Real Deal. Marx previously owned the site, but Lehman Brothers Holdings reportedly took control of it in 2011 after he failed to make loan payments.

Madison Realty Capital, a commercial real estate investment firm, provided a $40.2 million loan, which will go toward paying off a discounted $50 million acquisition loan provided by Lehman. It will also cover predevelopment costs, although the project still requires a construction loan.

The site is located directly across the street from the Jacob K. Javits Center on the corner of 37th street and 11th Avenue. Marx paid $45 million for the site in 2007 but is paying somewhere “in the mid-$30s” for the site this time around, said Josh Zegen, a co-founder and managing member of Madison. The property was marketed by Andrew Scandalios of HFF.

When constructed, the 265,000-square-foot hotel will feature several food and beverage outlets, as well as meeting space, according to Madison. Marx is currently in discussions with hotel chain operators, Zegen said.

From August:

Quote:
David Marx buys back Javits Center hotel site for $30M

Investor paid $45M for property in 2007, lost it to Lehman two years ago

August 06, 2013 09:00AM


Real estate investor David Marx is taking another crack at a hotel dream that the recession shattered, paying more than $30 million for a site that his lender Lehman Brothers seized just two years ago, Crain’s reported.

The first time around, in 2007, Marx paid $45 million for the property at 448 11th Avenue, on the corner of West 37th Street across from the Jacob K. Javits Convention Center; his plans again call for a 210,000-square-foot hotel on the parcel, which is near another Marx development site at West 34th Street and 10th Avenue, according to Crain’s.


http://www.google.com/url?sa=t&rct=j...53371865,d.aWc
__________________
We are floating in space...

Last edited by desertpunk; February 23rd, 2015 at 11:46 PM.
desertpunk no está en línea   Reply With Quote

Sponsored Links
Old February 18th, 2015, 07:57 PM   #2
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488

This time it’s different: David Marx eyes groundbreaking on 2nd Hudson Yards hotel Developer will pay $16.8M for building bonuses at 450 11th Ave
http://therealdeal.com/blog/2015/02/....VbPbVHRr.dpuf



Quote:
Developer David Marx, who already has a hotel under construction in Hudson Yards, is planning to break ground next year on a 438-key property on another site in the neighborhood that he once lost to his creditor.

Marx is planning to kick off construction early next year on a 39-story, 213,300 square-foot tower set to rise at 450 11th Avenue, a representative for the developer said. “No agreement with a particular brand at this point,” the representative wrote in an e-mail. Marx paid $35 million in 2013 to buy back the site at the southeast corner of 37th and 11th Avenue, within spitting distance of the Javits Center.

Lender Lehman Brothers had seized the property from Marx in 2011 after the developer failed to acquire a construction loan. The property allows for just shy of 100,000 square feet as-of-right. The developer will acquire another 114,550 buildable square feet by paying $16.8 million for a pair of building-bonus funds the city made available for projects in Hudson Yards when it rezoned the area in 2005.

Marx’s tower will be a block south from where the Chinese private equity firm Kuafu Properties, Siras Development and BlackHouse Development are planning a 47-story, hotel/condo tower. Meanwhile, construction is already underway at the corner of 34th Street and 10th Avenue, where Marx is developing a 399-room Marriot Courtyard Hotel.
__________________
-------------------------



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 February 23rd, 2015, 11:33 PM   #3
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449




__________________
We are floating in space...

Last edited by desertpunk; February 23rd, 2015 at 11:46 PM.
desertpunk no está en línea   Reply With Quote
Old February 23rd, 2015, 11:35 PM   #4
Hudson11
Stuck on the Cross Bronx
 
Hudson11's Avatar
 
Join Date: Jun 2011
Location: The Empire State
Posts: 9,510
Likes (Received): 22488



http://www.skyscrapercity.com/showthread.php?t=1663389
Hudson11 no está en línea   Reply With Quote
Old February 23rd, 2015, 11:43 PM   #5
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Quote:
Originally Posted by Hudson11 View Post
Search must be jacked cause I looked for a thread before posting.
__________________
We are floating in space...
desertpunk no está en línea   Reply With Quote
Old February 23rd, 2015, 11:45 PM   #6
ThatOneGuy
Psst! Check my signature!
 
ThatOneGuy's Avatar
 
Join Date: Jan 2012
Location: Toronto - Bucharest - Freeport
Posts: 21,479

Nice fin pattern!
ThatOneGuy no está en línea   Reply With Quote
Old February 23rd, 2015, 11:47 PM   #7
desertpunk
Whiskey Tango Foxtrot
 
desertpunk's Avatar
 
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 55,648
Likes (Received): 53449

Quote:
Originally Posted by ThatOneGuy View Post
Nice fin pattern!
Wish we had a larger render tho...
__________________
We are floating in space...
desertpunk no está en línea   Reply With Quote
Old February 23rd, 2015, 11:49 PM   #8
Hudson11
Stuck on the Cross Bronx
 
Hudson11's Avatar
 
Join Date: Jun 2011
Location: The Empire State
Posts: 9,510
Likes (Received): 22488

Another interestingly designed tower for the West Side. The facade reminds me of the Aqua in Chicago.
Hudson11 no está en línea   Reply With Quote
Old May 27th, 2015, 10:58 PM   #9
Vertical_Gotham
Registered User
 
Vertical_Gotham's Avatar
 
Join Date: Mar 2013
Location: New York, NY
Posts: 4,437
Likes (Received): 6488

__________________
-------------------------



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

UrbanCitySpots liked this post
Vertical_Gotham no está en línea   Reply With Quote
Old May 27th, 2015, 11:29 PM   #10
UrbanCitySpots
Registered User
 
UrbanCitySpots's Avatar
 
Join Date: May 2015
Posts: 26
Likes (Received): 59

Great looking tower for it's size.
__________________
My short tour of the WTC and 9/11 memorial: Check it out!
https://www.youtube.com/watch?v=aUcRrWba-cM
UrbanCitySpots no está en línea   Reply With Quote


Reply

Tags
448 11th ave., 450 11th ave., hudson yards, new york, nyc

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 10:10 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

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

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu