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Old March 4th, 2015, 11:33 PM   #21
Eric Offereins
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Impressive list, Lion.
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Old March 5th, 2015, 04:09 AM   #22
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London, any idea on the leases that currently exist in this building? This hulking POS is going to take a while to demo.
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Old March 5th, 2015, 04:37 AM   #23
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Quote:
Originally Posted by City-of-Platinum View Post
There is a good chance that this tower will be a very large and fat box of unremarkable height. Just before people get carried away dreaming about a tower much taller than its neighbor, you must remember that Vanderbilt has a showy spire and is not built to maximize floor area in the most cost efficient manner possible. Furthermore, this is the schmuck that demolished the old luxury hotel in the 1980's for that piece of crap and it is thus unlikely has any measurable interest in design or height.

I of course believe that Vanderbilt will not be topped as the agreement is for Vanderbilt to be the signature spire/tower design of the rezoning. A tower taller and right beside it would look poor. I assume the new tower will be a conservative design as to not overshadow the new king next door.
Having a luxury hotel component suggests that at least the upper floors may have a smaller footprint making the tower go higher. Squat fat lower floors do seem inevitable.
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Old March 5th, 2015, 05:08 AM   #24
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Quote:
Originally Posted by City-of-Platinum View Post
There is a good chance that this tower will be a very large and fat box of unremarkable height. Just before people get carried away dreaming about a tower much taller than its neighbor, you must remember that Vanderbilt has a showy spire and is not built to maximize floor area in the most cost efficient manner possible. Furthermore, this is the schmuck that demolished the old luxury hotel in the 1980's for that piece of crap and it is thus unlikely has any measurable interest in design or height.

I of course believe that Vanderbilt will not be topped as the agreement is for Vanderbilt to be the signature spire/tower design of the rezoning. A tower taller and right beside it would look poor. I assume the new tower will be a conservative design as to not overshadow the new king next door.
Not to burst your bubble and dash your hopes, City-of-Chicago, but the blocks between Vanderbilt and Madison are tiny. A tower exceeding 2m st would. Have to be very tall. You should come to NY some Time and check it out.
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Old March 5th, 2015, 05:09 AM   #25
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agreed. These blocks are not very big.

Interestingly in MAS NYC show the potential buildout of the Vanderbilt Corridor towers and the it shows both the Roosevelt and 335 Madison sites being taller than One Vanderbilt. The Roosevelt site being THE tallest.

This doesn't even factor in the buying of extra air rights and bonuses.

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Old March 5th, 2015, 05:34 AM   #26
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Nice NYT article about 335 Madison past and present:

http://www.nytimes.com/2013/03/24/re...000-rooms.html



Huge pic:

http://static01.nyt.com/images/2013/...superJumbo.jpg

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Old March 5th, 2015, 07:36 AM   #27
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Nice! I don't see how this will end up as anything but an improvement over this horribly garish 1980s junk.

That said, similar to the Roosevelt, I'm now a bit worried the Lincoln Building will be developed. I wasn't too concerned earlier because it's such a big building but with news of this happening as well as 1656 Broadway being redeveloped, it seems even big buildings aren't safe anymore. Get on it, landmarks commission.
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Old March 31st, 2015, 05:51 AM   #28
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Quote:
Originally Posted by bodegavendetta View Post
Nice! I don't see how this will end up as anything but an improvement over this horribly garish 1980s junk.
Speaking of criminal 80s reclads, I really hope that the grand Hyatt next to Grand Central gets restored to its original glory from the Commodore days or (far more likely) redeveloped. It's the building on the right. The Roosevelt is also easy to make out.



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Old April 2nd, 2015, 08:27 PM   #29
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This well-circulated rendering of 1 Vandy shows Millstein's 335 Madison site, which is right next door. Only in NY!!

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Old May 6th, 2015, 11:54 PM   #30
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With yesterday's news that the Vanderbilt Corridor rezoning is approved, I'd say it's time to start speculating wildly about what this area is going to look like. First, this is the 5-block stretch that the rezoning covers, correct?



The thing that strikes me is, two of the plots are unlikely to be redeveloped from the ground up anytime soon: 383 Madison (JP Morgan, which is in use) and 45 E. 45th (The Roosevelt Hotel, because it may well get landmarked.)

It begs the question, might the air rights from those two plots be shifted to one or more of the others? It seems like combining the air rights from two of these rezoned plots could push any tower in the Vandy Corridor into megatall territory.
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Old May 7th, 2015, 12:04 AM   #31
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I highly doubt that 383 Madison will ever go.


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Old May 7th, 2015, 12:07 AM   #32
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Quote:
Originally Posted by MarshallKnight View Post
With yesterday's news that the Vanderbilt Corridor rezoning is approved, I'd say it's time to start speculating wildly about what this area is going to look like. First, this is the 5-block stretch that the rezoning covers, correct?



The thing that strikes me is, two of the plots are unlikely to be redeveloped from the ground up anytime soon: 383 Madison (JP Morgan, which is in use) and 45 E. 45th (The Roosevelt Hotel, because it may well get landmarked.)

It begs the question, might the air rights from those two plots be shifted to one or more of the others? It seems like combining the air rights from two of these rezoned plots could push any tower in the Vandy Corridor into megatall territory.
This is awesome news, thanks for posting

Everybody celebrate and join the alien dance party!

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Old May 7th, 2015, 01:14 AM   #33
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I work right up the block at 280 Park, and would be shocked if air rights aren't transferred from 383 Madison and the Roosevelt to that small lot directly to the right, or East, of 383 Madison on 47th St. That building is woefully underdeveloped, and could yield a massive tower that would cater to PE Firms, HFs and asset managers.
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Old May 7th, 2015, 02:57 AM   #34
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383 Madison is a stunning tower!
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Old May 7th, 2015, 02:58 AM   #35
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Quote:
Originally Posted by MarshallKnight View Post
With yesterday's news that the Vanderbilt Corridor rezoning is approved, I'd say it's time to start speculating wildly about what this area is going to look like. First, this is the 5-block stretch that the rezoning covers, correct?



The thing that strikes me is, two of the plots are unlikely to be redeveloped from the ground up anytime soon: 383 Madison (JP Morgan, which is in use) and 45 E. 45th (The Roosevelt Hotel, because it may well get landmarked.)

It begs the question, might the air rights from those two plots be shifted to one or more of the others? It seems like combining the air rights from two of these rezoned plots could push any tower in the Vandy Corridor into megatall territory.

I hope the Roosevelt is landmarked. I live it!
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Old May 7th, 2015, 08:19 PM   #36
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Where in the area is the Hyatt Hotel that Lex thinks could also get demolished? I saw a pic of it once, and it definitely isn't a stunner that should be saved like the Roosevelt, putting it mildly lol!
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Old May 7th, 2015, 08:26 PM   #37
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Quote:
Originally Posted by Hudson11 View Post
I highly doubt that 383 Madison will ever go.
Exactly. It's a gem. I hope they shift their air right bonuses to 335 or 347.

Related, does anyone know if that's actually allowed under the rezoning plan? Like, can air rights be transferred anywhere within the rezoning, or do properties still have to be adjacent as before?

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Where in the area is the Hyatt Hotel that Lex thinks could also get demolished? I saw a pic of it once, and it definitely isn't a stunner that should be saved like the Roosevelt, putting it mildly lol!
It's just to the east of Grand Central, directly opposite the One Vanderbilt site. I also do want to see it redeveloped, although if you have any qualms about new towers cramping Chrysler's airspace, that's the site watch out for -- it's directly across the street.
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Old May 7th, 2015, 09:30 PM   #38
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I didn't think that air rights could be transferred across a street unless the city authorizes it. To transfer air rights, without city approval, I believe that the parcels must be contiguous and on the same block.
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Old May 7th, 2015, 10:01 PM   #39
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I know that's how things are done normally, but I was wondering if there was some provision in this particular re-zoning that worked differently. This line from a Capital article on the announcement that the rezoning had been approved is what made me think of it:

Quote:
Under the so-called Vanderbilt Corridor proposal, developers will be able to construct taller buildings near Grand Central by funding public improvements in the area. They will also be able to purchase transferable-development rights—air rights—from landmark buildings nearby. Even so, every project will require special permits and be required to go through the city’s lengthy land-use review process.
Of the 5 blocks that have been re-zoned, 3 are full-block buildings/plots, so unless rights could be transferred across streets, there really aren't any opportunities to transfer within the re-zoning (except I guess from 50/52 Vanderbilt to 347 Madison).

Also, isn't someone acquiring, or attempting to acquire the air rights for GCT for one of these developments? Any such transfer would have to be across streets...

Which is all to say, it seems like there's some provision that air rights could be transferred across streets as long as they were within the rezoning. But I could totally be wrong and just misunderstanding, but I was hoping someone had a better grasp on the details.
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Old May 7th, 2015, 10:55 PM   #40
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Which is all to say, it seems like there's some provision that air rights could be transferred across streets as long as they were within the rezoning. But I could totally be wrong and just misunderstanding, but I was hoping someone had a better grasp on the details.
That's right. The plan (at least, from what I remember in the initial round of negotiations) will allow the transfer of air rights to other plots in the district. I think that's why the owner at GCT has been against this plan: they feel it would somehow diminish the value of their unused air rights if adjacent properties could buy it from other properties (especially, landmarks) elsewhere in the district...
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