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Old April 11th, 2007, 05:32 PM   #821
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You should probably credit those pics. Im not a credit hound like others even though more than 1/4 of those are mine posted at SSP. But at least get them right.

This is 25 Thames St. Which may end up a cancelled project


This is 4 Albany St. Or 123 Washington. Whatever you may want to call it.



Not cancelled by any means.
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Old April 11th, 2007, 06:21 PM   #822
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Wow!! New york city is an amazing city!
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Old April 11th, 2007, 07:05 PM   #823
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impressive update
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Old April 12th, 2007, 04:36 AM   #824
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Eleven Times Square
no real progress done, but their website says it should be done Fall 2009.





Also I don't know the name of this building, but its on 11th or 10th Ave west of Columbus Circle.

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Old April 12th, 2007, 08:28 PM   #825
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Riding a High, Hospitality Industry Pushes Even Higher


BY MICHAEL STOLER
April 12, 2007

New York City's hospitality industry "is on fire," the global chairman of brokerage services at CB Richard Ellis, Stephen Siegel, said. "People from around the world want to visit New York," he said, and, of course, they all need places to stay.

More than 8,000 rooms are in various stages of planning throughout the city. Supply cannot meet the demand, which has been created by the more than 41 million visitors to the city in 2006. According to industry leaders, 44 million visitors — a record number — are expected this year, helping to fuel the hospitality fire.

Owners and operators in the hospitality sector are saying they have not experienced such impressive cash flow, hotel property selling prices, and availability of financing for close to a decade. "One of my clients who operates a four-star hotel says cash flow from operations increased from $12 million to $45 million in less than two years," the chairman of the national real estate practice at Greenberg Traurig, Robert Ivanhoe, said.

Even after several years of positive growth, real estate experts say the market is improving so far in 2007. "Occupancy levels have been close to capacity for the second year in a row, and room rates had another year of double-digit growth," the president of Lodging Advisors, Sean Hennessey, said. "In light of this, more and more people assume the pace of improvement must moderate. And yet, for the first quarter of 2007, occupancy is up about 1 percentage point over last year, and room rates are up 12%. The reality is that the hotel market is getting stronger, not weaker."

A senior managing director who specializes in the hospitality industry for CB Richard Ellis, Daniel Lesser, agreed. "The Manhattan hotel market is white hot, with demand for hotel rooms far outstripping supply," he said. "During the past several years, several thousand hotel rooms have been lost from the city's inventory due to the conversion of existing hotels to residential use. As good as hotel economics have been in New York with high levels of occupancy, and strong increases in average rates, residential economics have until recently been even better. As the New York lodging market continues to experience increases in average rates, and as the robust residential market slows down a bit, we are now seeing in several cases that hotel economics begin to ‘pencil out' the feasibility of new hotel development."

Rising rates have netted big profits for some developers. "Hotel business is booming and transaction prices are reaching new highs with every sale," a principal at BD Hotels, Richard Born, said. "We have been inundated with offers ranging from $500,000 per room for three-star products to over $1 million for higher-end hotels. We have been tempted and have fantasized about selling everything and sailing into the sunset, but for now we plan to hold onto our assets."

A number of years ago, a joint venture of our company and investors paid about $7 million for the 170-room Metro Hotel at 45 West 35th Street, or approximately $41,176 per room," Mr. Bonn continued. "We have been offered more than $500,000 per room, or $85 million."

In the fall, a former partner and executive vice president at Tishman Hotel Corp. and Anglo Irish Bank, Timothy Haskin, formed Peninsula Real Estate Fund I LP and Peninsula Real Estate LLC. The entity acquired the Beekman Tower Hotel and Eastgate Tower Hotel for about $420,000 a room. "Market performance is exceeding our underwriting, and we are planning significant upgrades to both assets that will commence in the very near future," Mr. Haskin said.

"The hospitality market in New York continues to be extremely strong with demand from all segments outpacing supply. We are looking to acquire additional assets at this time," he added.

"Developers are looking for opportunities to build lodging facilities throughout the entire metropolitan region," the chairman of Metropolitan Valuation, Marty Levine, said. "Most of the hotels now under construction are either limited service, such as those being built under Fairfield Inn, Comfort Inn, Holiday Inn Express, or are smaller boutique hotels with branding such as the Standard, aLoft, etc. It is interesting that there are virtually no new luxury hotels planned, except for the reopening of a much smaller Plaza."

"We are in the process of building more than 25 hotels, with a total cost of $1.2 billion and plans to spend an additional $1.1 billion for hotel projects in the pipeline," the chairman of McSam Hotels, Sam Chang, said. McSam hotels under construction range between 110 rooms and 400 rooms, and they are in every borough except the Bronx. The majority of the projects are limited service, including at least half a dozen boutiques located in Union Square, Midtown, and Lower Manhattan.

"For hotels, I would view the Midtown luxury market as the strongest in the region, perhaps in the country," a managing director with Cushman & Wakefield, Eric Lewis, said. "Supply and demand for that submarket continues to strongly favor owners, resulting in revenue per room gains so far this year of nearly 20%. The Midtown south select service market is witnessing a large share of new supply entering the market; however, given the overall strong fundamentals, I don't see that as a problem at this point."


STRONG FINANCING


An influx of capital into the New York real estate market is driving the hotel market. "The availability of funds both on the debt and equity side from the plethora of lending institutions and opportunity funds for hotel projects in the Big Apple is plentiful," the principal of Eastern Consolidated, Alan Miller, said. "Numerous groups are seeking to be part of the tremendous wave of hospitality demand we are experiencing from the construction of ground-up hotels or the conversion of existing buildings to the repositioning of certain hotel assets."

Mr. Lewis added: "The market is awash in capital chasing hotels. The industry has accepted hospitality as a major food group and that combined with every good supply, demand fundamentals has made financing properties much, much easier."

Mr. Miller continued: "All capital sources are extremely aggressive today when it comes to putting together some sort of financing package to help carry out a hotel development."

"The hospitality finance market continues to be strong, however borrowers should seek professional advice to get the best possible transaction," a partner at Sonnenblick-Goldman, Mark Gordon, said. "Each transaction redefines the financing market and you need to be actively in the market on a daily basis to structure the best possible transaction."


WIDESPREAD DEVELOPMENT


More than 50 hotel developments are in planning stages all over the city. At least three new W hotels are planned, for Lower Manhattan, downtown Brooklyn, and possibly in Harlem.

"With the strong need for more rooms in Manhattan, coupled with the fact that there are no longer any ‘undesirable' neighborhoods, the entire island south of 125th Street from river to river represents a good hotel site," Mr. Lesser said.

"With regard to Harlem, one or two hotels should be built and likely will over the next three to five years," Mr. Gordon said.

A number of hotels are opening on the Lower East Side and the Bowery. Last month, the 17-story, 135-room Bowery Hotel opened at 335 Bowery at East 3rd Street. A few months ago, the same development team opened the Lafayette House Hotel, a 14-room hotel at 38 E. 4th St. between Bowery and Lafayette Street in a former five-story townhouse. At 250 Bowery, PMA Associates and Flank Architects are building a 63-room, eightstory condo hotel at Prince Street. The Peckmoss Group is developing the Cooper Square Hotel, a 23-story building on the corner of the Bowery at 5th Street.

Highgate Holdings is planning to convert the Chinatown Holiday Inn at 138 Lafayette St. into a boutique hotel. Less than a block away, Cape Advisors will be transforming 150 Lafayette St. into a Mondrian Hotel. A local developer is planning to add 15 floors to a 12-story building at Howard and Grand streets in SoHo. A joint venture of the Bayrock Group, Zar Realty, and the Trump Organization is building the Trump Soho, a 42-story development on Varick Street.

In Midtown, a number of hotels are planned. They include a Courtyard by Marriott at the corner West 54th Street and Broadway by developer Harry Gross. Extell Development is planning a 55-story condo hotel mid-block on West 45th Street near Broadway. A joint venture of Horizon Global and a real estate investment fund is planning to build a boutique hotel on West 48th Street at 11th Avenue.

In January, BD Hotels converted the 346-room Pickwick Arms hotel into the POD hotel. The hotel is targeted at individuals who want to stay in a room for less than $200 a night in Midtown Manhattan.


CAUTION ADVISED


Nevertheless, industry leaders say they are only cautiously optimistic.

"The pipeline of hotels is probably at an all-time high, which might lead to increased competitiveness and price wars," Mr. Hennessey said. "It will likely hurt those hotels that have benefited from the compression of Manhattan's demand. The greater risk that the city's economy falters and that many of the newly minted hoteliers don't realize is that a small drop in revenue can cause a huge drop in profitability."

Mr. Lewis added: "At this point in the market, demand is so strong that any hotel put up is filled almost immediately. A market this strong can hide almost any mistake; be it location, design, financing, service, or quality. When the slowdown eventually comes, a reverse ripple effect is expected whereby the properties living off of the Manhattan displaced demand, particularly those without adjacent commercial development, will feel the downturn first. Similarly, boutique properties which are well-located but don't hit the mark on service, style, or design will slow the effect before the better properties."

As long as the economy continues to surge and visitors rush to New York City, the future is bright for the hospitality industry. Yet one must remember that, as the president of Essex Capital Partners, Mitch Rutter, said, "Hotels are operating businesses, and each day the owner wakes up having to fill the rooms."


© 2007 The New York Sun, One SL, LLC.
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Old April 12th, 2007, 09:34 PM   #826
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I didn't notice so many people visit New York.
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Old April 13th, 2007, 12:08 AM   #827
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New Updates. These are under construction...


Two River Place Tower I: 60 floors
Two River Place Tower II: 60 floors



William Bever House: 47 floors



Trump Soho Hotel: 45 floors



Platinum (247 West 46th Street): 43 floors - 498 feet



785 Eight Avenue: 42 floors



Chelsea Stratus: 37 floors



The Visionaire (70 Little West Street): 33 floors



255 East 74th Street: 30 floors - 338 feet



Fifth On The Park: 30 floors - 310 feet



110 Eleventh Avenue: 21 floors - 250 feet



Gramercy Residences: 21 floors - 210 feet



1330 First Avenue: 20 floors



Cancer Center Memorial Sloan Kettering: 20 floors



Standard Hotel (848 Washington Street): 19 floors - 233 feet



300 East 79th Street: 18 floors



441 East 57th Street: 15 floors - 153 feet



10 Chelse Place: 15 floors



Chelsea Modern: 12 floors - 120 feet

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Old April 13th, 2007, 12:26 AM   #828
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wow, impressive

do you know how tall the River Place Tower's are?
will they stand in midtown?
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Old April 13th, 2007, 12:45 AM   #829
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OMG! it seems that projects in NYC never stop coming!
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Old April 13th, 2007, 01:41 AM   #830
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great update
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Old April 13th, 2007, 02:53 AM   #831
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That building is probably the Element Condominium.

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Old April 13th, 2007, 06:27 AM   #832
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Quote:
Originally Posted by ZZ-II View Post
wow, impressive

do you know how tall the River Place Tower's are?
will they stand in midtown?
I don't know what their number of feet are yet. But they will sure stand out that is for sure.
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Old April 13th, 2007, 06:53 PM   #833
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would guess between 220 and 280m
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Old April 13th, 2007, 07:22 PM   #834
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Amazing new projects! This city just keeps on going. NYC rocks!
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Old April 16th, 2007, 02:14 AM   #835
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http://www.nytimes.com/2007/04/15/re...l?ref=business
Lower Manhattan’s Revival Will Include New Hotels

By LISA CHAMBERLAIN
Published: April 15, 2007


Renderings of two projects planned to help add more than 3,000 hotel rooms to the nearly 2,200 already in Lower Manhattan. A boutique hotel, above, still unnamed, will open at 75 Wall Street.


Rendering by D Box
The luxury W New York-Downtown Hotel & Residences, the brand’s first property in that neighborhood, is scheduled to open in 2008.


LIKE the distant sound of an approaching herd, the rumble of hotel developers coming into Lower Manhattan is growing ever louder. With more than 3,000 hotel rooms under construction or in various stages of planning, hotel capacity there could more than double within a few years.

Luxury developments include a W Hotel at 123 Washington Street and a boutique hotel at 75 Wall Street. Both projects will offer full-service hotel rooms, as well as residential units for sale. At the same time, a dozen other hotel projects are under way, many of them by the McSam Hotel Group, a developer based in Long Island City, Queens.

The W New York-Downtown Hotel & Residences, set to open in late 2008, is the W brand’s first property in Lower Manhattan. Developed by the Moinian Group and designed by Gwathmey Siegel & Associates Architects, it will have 217 guest rooms and 222 residential units. Residential sales are expected to begin later this year.

“We bought the land three years ago with the intent to build a hotel, and started talking to W more than two years ago,” said Joseph Moinian, chief executive of the Moinian Group, one of Lower Manhattan’s largest property owners with more than five million square feet of commercial and residential property.

The site is just a block away from the proposed Freedom Tower. The hotel “will be an important addition to the revitalization of Lower Manhattan,” Mr. Moinian said. He noted that visitors have been flocking to the area known after 9/11 as ground zero “before the memorial is even built.”

“Then there is all the infrastructure that downtown is getting — transportation, new streets and sidewalks, parks,” he said.

Mr. Moinian isn’t the only developer to see a need for more hotels in Lower Manhattan, especially when so many hotel rooms throughout the city have been converted into condominiums as a result of the residential real estate boom.

Rex Hakimian, the chief executive of the Hakimian Organization, has had plans for a couple of years to convert 75 Wall Street, a building used by JPMorgan Chase, into a hotel and condo building. The developer said he was close to signing an agreement with a major hotel company that is starting a new boutique brand in Lower Manhattan.

The 36-story building, which was completed in 1986, will have 251 rooms — almost half of which will be suites — and 350 condos for sale. Renovations have already begun, with an anticipated opening in the summer of 2008.

The building’s redesign is being handled by David Rockwell, the principal architect of the Rockwell Group, with an emphasis on 10-foot-high ceilings and 9-foot windows.

“From the outside, what you see is something that’s built as an office,” Mr. Rockwell said. “The surprise is going to be on the inside; it will be very luxurious, all about reflective light.”

The lower floors will include meeting spaces, a restaurant overlooking Water Street, and a bar that will spill out into an outdoor plaza. “We’re talking with a couple different arts- and music-related people to provide activities in the plaza, hopefully over the summer and beyond,” Mr. Hakimian said. “We want to create a lively, active atmosphere.”

An increasingly active downtown, in fact, has been fueling demand for hotel rooms, especially on weekends. According to Kathleen Duffy, a spokeswoman for Marriott’s New York City hotels, the New York Marriott Financial Center, with nearly 500 rooms at 85 West Street, had an occupancy rate of 93 percent in March. The year-round average on weekends at that hotel is in the 70 percent range, she said.

“When we as hoteliers talk about proactively promoting the site, it’s still under discussion if it’s appropriate to market it as a destination,” Ms. Duffy said, referring to ground zero. “But when you go down there, you see tons of people,” she said.

Right now, Lower Manhattan has just shy of 2,200 hotel rooms, according to the Downtown Alliance, a business improvement district. But if everything that is on the drawing board is built, there will be an additional 3,200 rooms.

That number includes a proposed 160-room boutique hotel by Time Equities, at 50 West Street. But the projection does not take into account plans announced by Silverstein Properties last month for knocking down a building at 99 Church Street and building a luxury hotel and condominium building. A spokesman for the company said that no final decision would be made until the building was vacated this fall.

Eric Deutsch, the director of the Downtown Alliance, said that the area remains “a central business district, but the hotel companies recognize that this is becoming more of a 24/7 community with an improving retail environment.”

Jeffrey Dauray, a senior vice president at CB Richard Ellis who specializes in the hospitality sector, agreed. “It’s a vibrant marketplace,” he said. “In terms of occupancy increases, it’s the best-performing submarket in Manhattan. Historically, downtown had been a five-night-a-week hotel market, but that has changed, thanks in large part to the mixed-use development that’s happened.”

Most of the larger, full-service projects are combinations of hotels and condominiums, Mr. Dauray noted, because the two markets complement each other. The early return of capital from condo sales helps to offset the longer-term investment that a hotel requires. “And the residential base supports the amenities that the hotel offers,” he added. “There’s quite a nice synergistic relationship.”

Mr. Dauray has underwritten a number of hotel deals over the last few years, including those for the McSam Hotel Group, which has been acquiring smaller sites and planning both full- and limited-service hotels in Lower Manhattan.

At 20 Maiden Lane, McSam has a 101-room hotel under construction that will be a Holiday Inn Express. The company also has 1,800 more hotel rooms in various stages of planning, including a 288-room Westin at 33 Beekman Street, a 192-room Doubletree at 8 Stone Street and a 371-room hotel, with no brand name yet, at 99 Washington Street, among others.

The Lam Group, another local development company, has a 660-room Sheraton under construction at 217 Pearl Street.

“The Lam Group and McSam stepped into a market that had been overlooked,” said Gene Kaufman, the architect for both developers. “Now there are others coming in. The rebirth of Lower Manhattan has exceeded expectations — to everyone’s great joy.”
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Old April 17th, 2007, 01:24 AM   #836
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Here are a few more buildings that are under construction in Manhattan...


43 East 29th Street: 30 floors



Holiday Inn Chelsea (125 West 26th Street): 24 floors



Holiday Garden (121 West 28th Street): 24 floors



US Mission To The UN: 22 floors



281 Broadway: 22 floors



Gramercy Green (Third and 23rd Street): 21 floors



Cooper Square Hotel: 20 floors



200 East 86th Street: 20 floors



200 Eleventh Avenue: 20 floors



The Lucida (151 East 85th Street): 18 floors



2 Forty (240 Park Avenue): 18 floors



Graceline Court (West 116th Street): 16 floors



Harsen House (120 West 72nd Street): 15 floors



127 Seventh Avenue: 15 floors



8 Union Square: 14 floors



Smyth (85 Broadway): 13 floors



127 M (127 Madison Avenue): 12 floors

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Old April 17th, 2007, 06:03 PM   #837
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LITTLE LOOMS LARGE
SMALLER TENANTS DRIVE REZONING, MARKETING


April 17, 2007

ALTHOUGH giant leases in new towers get the glory, it's "the sub-10,000-square-foot tenants that drive the market," says Broad Street Development partner Daniel M. Blanco.

Insatiable demand for smaller spaces in prewar buildings is one reason why City Planning Commissioner Amanda Burden aims to rezone certain Garment Center blocks for office use.

It's why the Empire State Building launched a capital-improvement program and brought in an outside leasing team - CB Richard Ellis' Stephen K. Eynon, Mitch Rudin and Simon Wasserberger, backed by top honcho Mary Ann Tighe - to market the space.

And demand for floors in quality Class B buildings has paid off handsomely for Broad Street Development at 370 Lexington Ave., the 300,000-square-foot, prewar address at 41st Street that Broad Street partners Raymond Chalme and Blanco bought last year for $92.7 million.

Broad Street has signed around 100,000 square feet of new leases and renewals since then, including 50,000 feet from the start of the year. Occupancy zoomed from 78 percent to 94 to 95 percent today.

"We've repositioned the property" with new air conditioning and upgraded electrical systems as well as lobby upgrades, Blanco said. The building now also boasts a conference center that tenants can use for free.

Asking rents in the mid-$40s have now moved into the low $50s.

The number of tenants has fallen from 115 to 95 in less than a year, even though more space is occupied. The mix includes such diverse users as construction consultants David Langdon, Office Max and Cannon USA.


Copyright 2007 NYP Holdings, Inc.
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Old April 17th, 2007, 07:18 PM   #838
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87 Lafayette Tower:




Slanted tower studied next to landmark firehouse


16-APR-07

Plans for a very dramatic, 19-story, slanting tower at the rear of the former firehouse at 87 Lafayette Street appeared today in a posting on the Internet.

The plans were developed by Young Woo & Associates and renderings of the tower are on the website of Lot-ek, an architectural firm, and appeared in a posting today on wirednewyork.com.

Baptiste Thevenon, an architect with Lot-ek, told CityRealty.com today that the design was for a 19-story artists' loft building with a one-story commercial base. He said that his understanding was that the owner of the adjoining property over which the slanting tower would cantilever was seeking an agreement with the owner of the firehouse for development of its air-rights.

The adjoining property is 93-99 Lafayette Street, which is part of a property lot that also includes 103-109 Walker Street and 139 Centre Street.

Young Woo & Associates and Angelo, Gordon & Co., acquired the 177,000-square-foot former headquarters of Globix Corporation at 139 Centre Street last year for about $55 million.

At the time of the sale, Mark Friedman, executive managing director of GVA Williams said that "with the building's location bordering Chinatown and TriBeCa, there is enormous excitement in the Asian community about the possibilities for the site" that has a development potential of 230,000 square feet and is supposed to be delivered vacant in May. "It is suitable for conversions to condominiums, hotel, or other high-end uses that are in short supply," Mr. Friedman maintained.

Mr. Woo told CityRealty.com today that he has "failed" to obtain an agreement yet with the owner of the firehouse, adding that he has a "good relationship" with the owner.

The 17,000-square-foot firehouse, old Engine 31's quarters, which was erected circa 1895 in French chateau-style atop the former swamp Collect Pond, is occupied by the Downtown Community TV Center of which Jon Alpert and his wife, Keiko Tsuno, are principals.

The firehouse, which is on the northeast corner at White Street, is a New York City landmark so a certificate of appropriateness would most likely be sought from the Landmarks Preservation Commission for any development on any part of its site.

The slant is very dramatic and somewhat similar to the angles used by the late Philip Johnson for a pair of office buildings in Spain several years ago.

Mr. Woo said that he had become very interested in plans developed by Lot-ek (which stands for "low-tech") employing large metal shipping containers. He said he considered their use in residential construction "fascinating" and "environmentally friendly."

Mr. Woo's company is the developer of the residential condominium tower planned for 200 Eleventh Avenue at 24th Street that will have 16 apartments of which 14 will have their own 1-car garage space that measures 20 feet nine inches by 12 feet within the apartment.

The garage "rooms" may be the building's most unusual feature, but its most visible feature will be its unusual facade that its website maintains was inspired in part by neighboring industrial lots. The building's facade has a base that will clad in gunmetal glazed terracotta while the setback tower will be clad in brushed stainless steel that the website states "takes on organic curves while reflecting the area's industrial past.

Youngwoo & Associates, which is also involved in the Chelsea Arts Tower, a 20-story, commercial condominium building nearing completion nearby on West 25th Street.

Annabelle Selldorf is the architect for 200 Eleventh Avenue.

The Lot-ek scheme for 87 Lafayette Street apparently employs stacking the containers with staircases at the north and south ends and also calls for some containers to protrude randomly on the west facade. The building's slant begins at the third floor on White Street and the sixth floor on the north side. The roof of the slanted tower would have an array of solar panels.


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Old April 17th, 2007, 09:30 PM   #839
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great tower, like inclined towers
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Old April 17th, 2007, 10:17 PM   #840
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cool tower that UN building just cleard away the lowrises that was there before 86th street buildings have started to put signs up advetising
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