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Old August 8th, 2013, 04:43 AM   #3461
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107 W.57th St to be 1,200 feet tall, 74 floors:

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Originally Posted by RobertWalpole View Post
Architect of record: SHoP
Cost: $2.5 billion




Previously as mere "900 ft tall tower":

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Old August 8th, 2013, 10:37 AM   #3462
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Quote:
Originally Posted by Vertical_Gotham View Post
As a soccer fan! I so want this and hope this will gain traction for the new MLS franchise the "New York City Cosmos FC"

DesertPunk posted this earlier but here's another article.

Incredible plans for New York City FC’s Manhattan stadium
http://prosoccertalk.nbcsports.com/2...attan-stadium/



I snickered at Gothamist's take on the design:

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Old August 9th, 2013, 03:54 AM   #3463
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Old August 9th, 2013, 09:38 PM   #3464
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Quote:
Originally Posted by desertpunk View Post
I snickered at Gothamist's take on the design:
lol! a toilet seat.
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Old August 9th, 2013, 09:40 PM   #3465
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Across from Javits, buyer takes 2nd bite of apple
Investor David Marx buys back the site he lost to his lender, Lehman Brothers, and pays roughly a third less than he had in 2007. He plans to build a hotel of up to 210,000 square feet.
http://www.crainsnewyork.com/article...TATE/130809951

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Real estate investor David Marx likes the prospect of building a hotel right on a piece of property across the street from the Jacob K. Javits Convention Center so much, he's buying it for the second time, this time for over $30 million. During the recession, he was booted by his lender Lehman Brothers.

Mr. Marx, a real estate investor who owns other parcels in the far West Side neighborhood, including a development site on the northeast corner of West 34th Street and Tenth Avenue, is acquiring 448 11th Ave., a piece of land on the corner of West 37th Street.

It's Mr. Marx's second try at the property, which he first acquired with partners at the peak of the market in 2007 for a whopping price of nearly $45 million. That initial ownership didn't end well. In 2011, with construction financing almost impossible to come by and unable to break ground, he was forced to hand the property back to its lender, Lehman Brothers Holdings, which put the property back on the market several months ago.

Now Mr. Marx is buying it back. His plan is basically what it was the first time—to build a hotel of up to 210,000 square feet across the avenue from one of the nation's busiest convention centers. The hotel would be the closest to the Javits Center, which is nearing the end of a $400 million renovation and modest expansion.
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Old August 12th, 2013, 01:50 AM   #3466
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Most of the facade of the Walker Tower has now been revealed. As you can tell, I walk by this building everyday (on the way to work).

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Old August 12th, 2013, 01:52 AM   #3467
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Quote:
Originally Posted by Vertical_Gotham View Post
As a soccer fan! I so want this and hope this will gain traction for the new MLS franchise the "New York City Cosmos FC"

DesertPunk posted this earlier but here's another article.

Incredible plans for New York City FC’s Manhattan stadium
http://prosoccertalk.nbcsports.com/2...attan-stadium/



Knowing the NIMBYism that exists in the adjacent neighborhood, its hard to imagine this moving forward. But you never know.

Additionally, I kind of liked the idea of a new stadium in Queens. I want NYC to continue becoming more poly-centric.
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Old August 12th, 2013, 02:03 AM   #3468
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Update on 56 Leonard. Its s l o w l y rising...

image hosted on flickr


Close up of what will be the exposed concrete floor plates.
image hosted on flickr


I caught them recently lifting more crane segments into place.
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Old August 12th, 2013, 02:09 AM   #3469
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A second tower crane at the Hudson Yards Coach Tower is being installed this weekend. I took these photos yesterday:

image hosted on flickr


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Tons of rebar in place, this building is just about ready to go vertical!
image hosted on flickr
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Old August 12th, 2013, 02:18 AM   #3470
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Some High Line updates:

Work has begun at 500 West 21st Street:

image hosted on flickr

(photo by me)

Rendering:



508 West 24th Street is now rising above the High Line.

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Rendering:
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Old August 12th, 2013, 02:28 AM   #3471
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SoHo updates:

Digging has begun at 325 West Broadway:

image hosted on flickr

(photo by me)

West Broadway Rendering:


The property extends to Wooster Street, where two smaller buildings will be cleaned and restored as part of this project.



On the same block (next door) 27 Wooster Street is now two stories above ground.

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Rendering:
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Old August 12th, 2013, 03:22 AM   #3472
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Great updates sbarn!!
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Old August 12th, 2013, 04:43 AM   #3473
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Great Updates! 56 Leonard looks like a complex pain in the a$$ to put together but it will look awesome with cladding and the reflectoblob! With quality materials, 325 Broadway will look spectacular and will become a new landmark. 27 Wooster street looks like one of the many ultramodern minimalist projects rising in Europe and will look great with quality glass. Glad to see more progress at the coach tower.

Now for a spectacular time-lapse of NYC street scenes from the Atlantic Cities.
http://www.theatlanticcities.com/art...anhattan/6492/

Quote:
"MIDTOWN," the latest work from production company District 7 Media, is at once a frenetic time-lapse and an evocative soundscape. Composed of 50,000 still frames shot over 6 months as well as sounds clipped from where photos were taken, the video captures the frenzied essence of Midtown New York City.
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Old August 12th, 2013, 06:38 AM   #3474
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I recently had a meeting in the Woolworth Building and a got a good glimpse at the pit which will (hopefully) soon sprout 30 Park Place.

image hosted on flickr

(photo by me)
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Old August 12th, 2013, 06:43 AM   #3475
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Cladding continues to rise 500 West 30th Street. I know some disagree, but I think this tower is turning out pretty nice.

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Old August 12th, 2013, 07:01 AM   #3476
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The facade has begun to go up at 99 Washington Street. Pretty boring but much better than the zebra brick shown in the rendering. Some pictures from ZippyTheChimp @ WNY:







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Old August 12th, 2013, 07:22 AM   #3477
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Far better than the zebra cladding...I like the red touches.

At least there will be a new tower to block the blank wall from the WTC viewpoint.
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Old August 13th, 2013, 10:44 PM   #3478
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thx for all the updates! the face of 500 West 30th Street looks so beautiful
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Old August 14th, 2013, 05:57 PM   #3479
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New Hudson Yards Development Site!

‘Yard’ parcel moving
http://www.nypost.com/p/news/busines...R6IR0UULB0fNsI

Quote:
A major Hudson Yards parcel is finally being offered a full year after family owners Arthur and Edward Imperatore and their partners hired Darcy Stacom and Paul Liebowitz at CBRE to explore marketing the location opposite the Javits Center.

The L-shaped site, directly on the upcoming Hudson Yards Park, stretches east from the northwest corner of Eleventh Avenue and West 36th Street and then wraps north to West 37th Street, taking up the entire block front along the new park, which is under construction.

The site has an FAR of 21.6 so that it can host a primarily commercial tower of up to 881,000 square feet. But quirky Hudson Yards regulations will require buying air rights even though it has more than needed.

The CBRE team is selling the land and rights to develop 735,000 square feet.

The remaining 146,000 feet must be bought to pay for local improvements, while the owners will have 153,000 feet of air rights to sell to someone else .

Stacom declined to discuss pricing for the development site, but the much smaller site to the north was recently sold for $35 million and is slated to become a hotel. With the additional air rights, that pricing came to $230 a foot.

“This is an extremely exciting area to get in on the ground floor,” said Stacom.

Stacom, known as the Queen of the Skyscrapers, and CBRE’s William Shanahan are also marketing 980 Madison Ave. on the Upper East Side that could attract bids of roughly $380 million
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Old August 15th, 2013, 03:15 AM   #3480
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Interesting article about how kick ass the NYC real estate market is from a british perspective, featuring no other than 432 park ave.

http://www.independent.co.uk/news/bu...s-8760324.html



Quote:
New York is surpassing London as the property investment capital of the world once again. New developments on prime real estate in the Big Apple are commanding eye-wateringly high prices and attracting international buyers in their droves.

Richard Wallgren, executive vice president (sales and marketing) of Macklowe Properties, which is currently selling an exclusive range of luxury penthouse apartments priced from $7m (£4.5m) to $95m at 432 Park Avenue in Manhattan, has noticed a turnaround in the past 18 months: "The resurgence in activity coincided with the supply of new super-luxury inventory. Following the 2008 economic crisis, there was a paucity of new construction in Manhattan.

"Beginning in 2012 and carrying on into 2013, there has been the release of a new residential beginning, with One57 [in Manhattan] followed by 432 Park Avenue and 737 Park Avenue."

As in London, it is the classic areas of Manhattan that are proving appealing. New developments within a stone's throw of Central Park and the financial district are achieving sales rates of above $5,000 per square foot, which makes Mayfair look decidedly down at heel.

But importantly, unlike London, it is not just overseas buyers who are looking at buying. In fact Mr Wallgren estimates that two-thirds of his buyers are domestic, and this reflects a general feelgood factor around the US property market.

It is ironic that American real estate, which played a central role in the crashing of the world economy in 2008, is now helping to lead the world's biggest economy away from the economic danger zone. Mortgage arrears are now back to pre-crash levels, according to the ratings agency Fitch. In prosperous Dallas and Denver, prices have risen by 7.6 per cent and 9.7 per cent respectively in the past year –above their late 2006 levels, according to a survey by Standard & Poor's. What's more, nationwide transaction levels are on the up – a very good indicator of normality returning. (In the UK, by contrast, property transactions are still only running at half their pre-crash level, suggesting that the headline rate of house price increases may be a little misleading.)

Some parts of the country are positively booming, and not just upmarket New York. In Florida, the latest figures from the Miami Association of Realtors show 19 months of continued house price growth in the county of Miami-Dade. The association's president, Fernando Martinez, reports that in some cases multiple buyers are vying for homes. "Properties that are competitively priced will sell very rapidly, particularly in the lower price points, and will generate multiple offers close to or above asking price," he said. "Miami real estate is definitely thriving."

What's more, 60 per cent of house purchases in Miami are being made in cash. This indicates that the crucial conveyor belt of retirees from the rest of the US, who sell their property in their home towns, release equity (and are therefore cash buyers) and then move to Miami, is once again operating in the traditional way. This doesn't just underline the appeal of Miami but indicates business as usual in the property market for much of urban America. Across the US, property prices are up 7 per cent, while transactions are 15 per cent higher.

Behind this resurgence is a healthier economy. Unemployment has stopped rising and annual economic growth is pushing 2 per cent again. The Federal Reserve has been printing vast amounts of money and encouraging mortgage lending at what have been, until quite recently, historic low interest rates. Specific schemes such as the Home Affordable Refinance Program and Home Affordable Modification Program have helped to reduce the number of American homeowners in negative equity, releasing shackles from the market.

However, in the crucible of the world financial crisis – industrial (or post-industrial) areas such as Detroit – there is still little sign of this property market recovery. Thousands of foreclosed homes still lie empty, often stripped of their copper wiring by opportunistic thieves. The areas that attracted the biggest number of "Liar Loans" (self certification) and bogus mortgages dubbed "Ninja – no income, no job – may not see any trickle-down benefits for a generation.

However, there are exceptions, even here. "There are a lot of homes that are run-down and vacant. Those homes – you could sell them for $1 all day long, because no one wants to buy them, nobody wants to live there," said Chris Stead, director of Property Investment House, which specialises in attracting buy to let investors into run-down areas.

"If you want to make money in the Detroit market, or wherever you buy, it's about the location. Certainly, the houses that we offer are good houses on good streets in good neighbourhoods. When we advertise them for rent, we get 20 to 30 phone calls from people wanting to live there."

And from an investment returns perspective, areas like depressed Detroit (the city has recently filed for bankruptcy) do offer a compelling case as property is comparatively cheap but yields, because of an under-supply of good-quality rental accommodation, are potentially good – sometimes above 10 per cent a year.

However, any British investors looking to make such returns have to be aware that they may not to be able to sell up if they need the cash. The US house price recovery, although striking and more broadly based than in the UK, is still built on shaky economic and fiscal foundations.
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