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Old June 24th, 2013, 07:34 PM   #3281
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Quote:
Originally Posted by RobertWalpole View Post
I think that's simply erroneous reporting. I don't know where anyone could find two contiguous building parcels, and it would not make sense to build a 20 story hotel and a 50 story condo next to each other; among other reasons, height-based views command more money. Also, $1b is a very low price tag for two parcels and two buildings.
yea lol! agreed! I think what they meant was that this project will be a mixed use Hotel/Condo. It would definitely be absurd to not to do it this way. With $1B plus price tag, this has the makings to be at least supertall??
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Old June 24th, 2013, 07:46 PM   #3282
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I wonder if they'll partner with someone for an existing project like Verre, 3 Hudson (which could be changed to hotel/condo), or RFR's 610 Lex or do something totally new. It will be interesting to learn more.
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Old June 24th, 2013, 08:42 PM   #3283
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22-22 Jackson in Queens may be getting this:


http://ny.curbed.com/archives/2013/0...ntz_in_lic.php
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Old June 24th, 2013, 08:52 PM   #3284
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Quote:
Originally Posted by RobertWalpole View Post
I wonder if they'll partner with someone for an existing project like Verre, 3 Hudson (which could be changed to hotel/condo), or RFR's 610 Lex or do something totally new. It will be interesting to learn more.

That is an interesting spin! that is very possible. If he decides to partner up with Moinian, he could be the first major Hotel operator in the Hudson Yards = less competition......for now. That can be very appealing.

Last edited by Vertical_Gotham; June 24th, 2013 at 09:01 PM.
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Old June 25th, 2013, 01:10 AM   #3285
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I agree. This will be a very interesting project.
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Old June 25th, 2013, 05:34 PM   #3286
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Midtown South Portfolio Stake Trades for $74M
http://www.greinermaltz.com/pages/Ne...ScrollIndex=42



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NEW YORK CITY-Princeton Holdings LLC has sold its stake in the 14-building F.M. Ring office portfolio, located mainly in Midtown South, for $74 million. A release announcing the sale identifies the buyer as “a major New York City real estate development and investment firm that will significantly boost its existing stake in the portfolio as a result of this transaction.” Additional financial details were not disclosed.

The Wall Street Journal and Crain’s New York Business have both reported that the buyer was Extell Development, and that the total value of the one-million-square-foot portfolio, including 212 Fifth Ave. and 251 Park Ave. South, has been estimated at more than $500 million. GlobeSt.com’s calls to Extell for comment were not returned by deadline early Thursday afternoon.


Midtown South is home to the Ring portfolio, currently 98% percent.

For Princeton Holdings, led by CEO Joseph Tabak, the deal represented a profitable exit from its two-year involvement with the portfolio. In 2011, a joint venture led by Princeton bought a 25% stake in the portfolio, which is 98% vacant, with a deposit of $10 million.

“Our investment philosophy at Princeton Holdings can best be defined as long-term with the ability to seize upon near-term exit opportunities if they are too attractive to resist,” Tabak says in the release. Two years ago, he continues, “we engaged in a process that will now unfold over the coming years without our involvement.”

Although Tabak counts himself “pleased” with the outcome of the deal, “it’s clear that the portfolio will ultimately yield many rewards for those who have the fortitude to ‘crack the code’ here. As we have done before, we will re-invest the proceeds from this lucrative deal back into our core business of real estate investment and development.”

Doug Harmon, senior managing director at Eastdil Secured, represented Princeton Holdings in the sale, Crain’s reported. The publication noted that the deal would leave Extell free to redevelop the properties as residential space.
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Old June 25th, 2013, 05:47 PM   #3287
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MTA to lease long term their 347 Madison Avenue for development for Future Tower
http://www.realestate-download.info/...il+Leasing.php

-- should the Midtown East Rezoning passes through, I believe a pretty tall tower could be built here.
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Old June 26th, 2013, 09:25 PM   #3288
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New 38-unit residential planned for Bed-Stuy’s 535 Classon Avenue



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535 Classon Avenue in Bed-Stuy might get a new five-story residential building by Kahen Properties.

The site, currently a parking lot, could sprout a 38-unit development with 26,000 square feet of residential space, according to a permit filed June 12th. Queens-based Kahen Properties has the project listed on the company website, although details are scant.

Another Kahen Properties development in the works is a 12-story, 135-unit building at 310 East 2nd Street in Alphabet City.
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Old June 27th, 2013, 03:18 AM   #3289
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City Council committees limit the Garden to 10 years

Madison Square Garden will not be able to remain in its location in perpetuity, said two City Council committees. The unanimous decision backs City Council Speaker Christine Quinn's position and delivers a huge win to preservationists.



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Like so many epic matches at Madison Square Garden, the fight over the future of the arena’s special permit went many rounds. In the end though, City Council Speaker Christine Quinn delivered the crucial blow, leaving the presumed underdogs, the preservationists and transit advocates, the victor as two City Council committees unanimously approved a 10-year permit for the Garden Wednesday.

The Garden, controlled by the Dolan family, had hoped to have its permit extended a bit longer. In fact, they insisted that it should be granted in perpetuity, arguing such was the case for other athletic facilities in the city. But a number of civic groups fought against the effort, arguing for a term-limited permit that might help resuscitate negotiations over relocating the arena so that Penn Station, trapped underneath the Garden for half a century, might be rebuilt and expanded.

“There is a lot of work ahead of us to build the train station NYC desperately needs, but today the City Council and Speaker Quinn in particular have joined in that effort and taken a very important step forward.” Raju Mann, director of planning at The Municipal Art Society. Mr. Mann was present for the votes Wednesday afternoon.

Earlier, the City Planning Commission called for a 15-year term on the permit. But Ms. Quinn, following the lead of the activists and Manhattan Borough President Scott Stringer, reduced the term to 10 years.

In a letter announcing her position last week, Ms. Quinn declared, “Given the uniqueness of the site, with the arena sitting above the most heavily trafficked transit hub in the city, as well as the nation, a term for the permit is warranted. Moreover, the findings associated with the Special Permit are important and need to be reviewed more regularly than the 15-year period approved by the City Planning Commission last month.”

The council’s Zoning and Franchises Subcommittee approved the measure by a vote of 7-0, and the full Land-Use Committee followed suit, voting 18-1. A spokeswoman for Madison Square Garden declined to comment.

Other changes to the permit include the elimination of a loophole that would have allowed the arena to strike a deal with the three railroads for infrastructure improvements only to be approved by the City Planning Commission. Such a deal would have extended the permit indefinitely. That provision still exists, but now it must be fully vetted through the public approval process, which includes review by the community board, borough president and the council.

[...]
Pick whichever Penn you like!


http://www.crainsnewyork.com/article...TATE/130529874


http://ny.curbed.com/archives/2013/0...g_revealed.php




http://www.crainsnewyork.com/article...TATE/130529874


http://ny.curbed.com/archives/2013/0...g_revealed.php




http://ny.curbed.com/archives/2013/0...g_revealed.php


http://ny.curbed.com/archives/2013/0...g_revealed.php




http://ny.curbed.com/archives/2013/0...g_revealed.php


http://ny.curbed.com/archives/2013/0...g_revealed.php
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Old June 27th, 2013, 06:53 PM   #3290
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Wanda launches $1b New York hotel project
http://www.ecns.cn/business/2013/06-21/69534.shtml
Clearly, they are not partnering with Hines' Verre project in light of the recent news. Perhaps this will be a completely new project and not one that has been announced previously. I am very curious as to the site.
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Old June 27th, 2013, 07:48 PM   #3291
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I really did not think Hine's TV would have been a real possibility for some reason.

Wanda is looking to partner up and the logical place to partner up imo would be with one of the developers in the Hudson Yards. Wanda can be the first major hotel operator within the whole Hudson Yards Development zone, which also a stone throw away from the Javits Convention Center. It would be a safe bet to be the hotel pioneer in the Yards because of expected population growth and all the class A projects being built, highline Park & HY Blvd....this place is set to explode.

My preference obviously would be 3 Hudson Blvd as you mentioned should he decide the Hudson Yards, but I think the real candidate would be...

Sherwood's project, specifically the potential super-tall site. I read somewhere recently that their project will be a Hotel and Condo and that they are actively in talks with Hotel Operators. Seems like a perfect match.

I'm aware that Sherwood has 2 sites to develop there, and I just hope they are talking to hotel operators specifically, for their larger site.

But yeah...lol! I too am very curious where he will ultimately select for his site.

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Old June 27th, 2013, 10:19 PM   #3292
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these renderings are so awesome
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Old June 27th, 2013, 10:54 PM   #3293
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Quote:
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Pick whichever Penn you like!









In the first pic, that tower is nice! Not your typical glass tower. It sort of looks like the Ping An tower. I would like it to be much taller than what is showing in that render. maybe it's pretty tall but can't tell.


For the 2nd pic, I Love the height of this tower! Looks to be over 2,000 ft tall if you compare it to the Empire State Building.

Honestly, I'm a preservationist when it comes to MSG. It's the Mecca of Basketball and is famous around the world. It is part of NYC history and it would be like demolishing St. Patrick's cathedral to make way for a new project. I'm not saying MSG is a beauty.. It's not. It has a place in NYC history. Just my .02 cents.

However, those pictures DP posted are nice and especially If they build a tower that tall, then I can look the other way and hope MSG finds a nice state of the art new home somewhere in midtown.

Can such at tall skyscraper be built on this site as the architect is suggesting or is it just B.S. to make me want to move MSG??

Last edited by Vertical_Gotham; June 27th, 2013 at 11:01 PM.
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Old June 28th, 2013, 03:50 AM   #3294
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SHOP Architects' building for FIT.

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Old June 28th, 2013, 03:58 AM   #3295
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http://www.nytimes.com/2013/06/30/re...-neighbor.html

New Highline condo to rise on the site of an old garage.

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Old June 28th, 2013, 04:19 AM   #3296
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Quote:
Originally Posted by RobertWalpole View Post
http://www.nytimes.com/2013/06/30/re...-neighbor.html

New Highline condo to rise on the site of an old garage.

Looks decent. They just finished demoing the garage - this image is from June 10th:

image hosted on flickr


Another note: I see Sherwood owns a small property just west of the Highline on 21st Street (south side). I wonder what their plans are for that property?
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Old June 28th, 2013, 05:22 AM   #3297
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http://www.nytimes.com/2013/06/30/re...-neighbor.html

New Highline condo to rise on the site of an old garage.

I like it.
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Old June 28th, 2013, 11:05 PM   #3298
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51 Astor pl.

image hosted on flickr

51 Astor Place Building Reflections, Cooper Square, New York City by NYC♥NYC, on Flickr
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Old June 28th, 2013, 11:22 PM   #3299
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46-10 Center Blvd. rising fast:

image hosted on flickr

the vista by erndb, on Flickr
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Old June 28th, 2013, 11:58 PM   #3300
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After investing that much money it would make little to no sense not to go up, up, up! Ain't no time for half-steppin' now.
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