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Old March 8th, 2015, 10:40 AM   #821
Eric Offereins
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I hope so. They'll have no problem selling the apartments at such a great location.
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Old April 7th, 2015, 05:44 AM   #822
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http://nypost.com/2015/04/06/wework-...1460-broadway/

So, what’s the story with the Moinian Group’s 3 Hudson Boulevard? Will it be the next office skyscraper to burst out of the ground in the increasingly crowded Hudson Yards Redevelopment district?
Joseph Moinian’s planned, 66-story, 1.8 million square-foot tower could be just six months from getting the green light, says Avison Young co-principal and New York-area President Arthur Mirante II.
“I will be very disappointed if we don’t make an announcement of an anchor tenant within six months,” said Mirante, who heads an Avison Young leasing team project including Michael Gottlieb and Anthony LoPresti.
The tower is to rise on what Mirante calls a “unique site” — nearly 2 acres bounded by Eleventh Avenue, the new Hudson Boulevard and Park, and West 34th and 35th streets, just steps from the new No. 7 train station and the High Line Park.
But an air of uncertainty has hung over 3 Hudson Boulevard — which Mirante sought to dispel.
There’s no question it’s a helluva piece of work. The striking design by FX Fowle’s Dan Kaplan, which gently turns as it rises, aims to exceed LEED platinum standards. It will boast solar-power generation; 14-foot slab-to-slab floor heights; base floors of 48,000 feet and above those, column-free 33,000 square-foot floors. The tower will offer unobstructed views to the west.
But, there’s been no word (or even rumors) of tenant signings. Moinian still needs to complete some steps, including air-rights purchases, before construction can start.
Moreover, Moinian has said floors 49 to 63 “could” be used for luxury condos — suggesting the project is in flux. “He hasn’t really refined it,” one big-name dealmaker snarked.
“I do think the timing for 3 Hudson Boulevard has come,” Mirante said. “But I don’t think Joe will build without an anchor tenant. There’s no intent to build on spec.” However, Moinian and the MTA are already jointly working on the foundation (part of which is shared with the new No. 7 train extension, which will open soon).
To get 3 Hudson Boulevard out of the ground, Moinian needs a half-million square-foot tenant commitment, Mirante said.
“We have three seriously interested tenants, two of them large enough to be anchors,” he said.
Two of them are financial firms. Mirante not surprisingly wouldn’t say who; a check with several leading Manhattan brokers who are normally plugged in found none who’d heard of talks.
Mirante said the air-rights purchases will “happen in the next couple of months.” He also revealed an ace in the hole for Moinian: a government credit worth up to $100 million for site-remediation work the developer quietly completed a few years ago.
As for possible condos, “We’re telling our anchors, ‘If you don’t want residential in the building, don’t worry — we can convert it to all offices.’ That would raise total rentable office space to 1.9 million square feet,” Mirante said.
Gross asking rents on lower floors are $89 a square foot, Mirante told us. It was previously reported that asking rents would reach $100 a square foot on higher floors. Late 2018 or early 2019 remains the target date for completion.
Meanwhile, so many giant projects are underway in the area, it’s hard to keep up with them all.
They bring 4 million square feet of brand-new space to market even after major recent deals are taken into account — and thus, competition for 3 Hudson Boulevard.
Related Cos./Oxford’s 10 Hudson Yards (for Coach Inc. and other tenants) has risen to 31 of 52 stories. Their 30 Hudson Yards (for Time Warner) “goes vertical” in July. And at Mitsui Fudosan/Related/Oxford’s 55 Hudson Yards, foundation work is underway; a Related source said they’re “trading paper” for all of that project’s 1.3 million square feet.
Between Ninth and Tenth avenues and between 31st and 33rd streets, Brookfield has completely decked over the rail yard and is doing site prep for 1 Manhattan West (close to a lease signing with Skadden Arps); and a residential tower has been underway since November.
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Old April 7th, 2015, 05:50 AM   #823
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Not really bad or good news, kind of expected.

This tower is awesome though, and I'm sure it'll rise eventually.
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Old April 15th, 2015, 10:18 AM   #824
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They have dug down to the bottom and are now drilling piles. Gigantic rebar cages (at least 3 feet in diameter with 3 inch vertical bars) are being installed so that concrete could be poured.



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Old April 15th, 2015, 03:38 PM   #825
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This should be U/C!
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Old April 15th, 2015, 03:55 PM   #826
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I forgot about this tower.
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Old April 15th, 2015, 07:10 PM   #827
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Good to see this one finally coming along! It'll look great on the waterfront.
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Old April 15th, 2015, 11:40 PM   #828
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Quote:
Originally Posted by baseball1992 View Post
This should be U/C!
I agree. Another supertall rising!
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Old April 15th, 2015, 11:51 PM   #829
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Great news! This one is my favorite so far in the Hudson Yards
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

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Last edited by Vertical_Gotham; April 16th, 2015 at 12:00 AM.
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Old April 16th, 2015, 01:42 AM   #830
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Are those pictures for 3 Hudson Blvd or 55 Hudson Yards? A worker on site said it has not started yet.
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Old April 16th, 2015, 04:28 AM   #831
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Thanks for all the photos, but they are of 55 Hudson yards.

Quote:
Originally Posted by Skylimitone View Post
Are those pictures for 3 Hudson Blvd or 55 Hudson Yards? A worker on site said it has not started yet.
Those photos are of 55 Hudson Yards which incorporate the #7 subway extension ventilation building. That vent building (north side of 33rd st) also has the "55 Hudson Yards" banner on it. I think towerpower123 just posted them in the wrong thread...

Looking Southeast over the excavation/caisson drills with the vent building as backdrop. IIRC the excavation has easy access to surface streets because the west side of the excavation connects to the open space under the 11th Ave viaduct.

credit to Towerpower123
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Old April 20th, 2015, 09:50 PM   #832
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4/19


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Old April 20th, 2015, 10:36 PM   #833
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SSC has a new look on the phone!! I just have to get use to it.

Is that a crane on 3 HB site!!
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

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Old April 25th, 2015, 12:58 AM   #834
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New towers set to alter Manhattan’s chemistry

24 April 2015 | By Steve Cuozzo

http://m.propertyweek.com/5074185.article?fontSize=2

Quote:
Manhattan fear-mongers routinely cry wolf over a ‘glut’ of new office space. They did in it in the 1990s when a few towers opened empty, and after 9/11 every time a new building brought some vacant space to market.


The dreaded g-word proved to be a myth every time. Except for the original World Trade Center, which took 25 years to fill, no new postwar Manhattan tower sat empty or substantially empty for long. Yet, now that a real crisis might loom down the road, no one’s paying attention.

Some 11m-plus sq ft of top-dollar, newly minted space are in play between today and 2019. They include recently completed One and Four World Trade Center; projects in full-bore construction (3 World Trade Center; 7 Bryant Park; and 10, 30 and 55 Hudson Yards); one at the foundation stage (1 Manhattan West); and old buildings being stripped to their skeletons and redesigned as entirely fresh products (390 Madison Avenue and 425 Park Avenue).

Those may not be all. Two more planned, office skyscrapers not yet rising seem poised to get the green light - One Vanderbilt (awaiting city approval) and 3 Hudson Boulevard (close to signing a tenant).

In addition, if negotiations reported last week between News Corporation and 21st Century Fox with Larry Silverstein result in a done deal, it would get the Lord Foster-designed 2 World Trade Center out of the ground.

Brokers say they’re not worried. Asked if there might be too much new space to absorb, JLL New York president Peter Riguardi called it a “fair question”, but quickly asserted confidence that it would all swiftly lease up.

Environmental efficiencies

There’s no question that today’s crop of office towers are superior to those built even 20 years ago. Modern firms of all types crave the ‘efficiencies’ available only in today’s environmentally advanced towers, which boast 14-foot slab-to-slab floor heights, floor-to-ceiling windows and energy-conserving cogeneration facilities.

Like others in the industry, Riguardi believes a greater threat might be to older office towers, which would lose marquee-name tenants to the new ones.

Brokers like to point out that 11m newly minted sq ft represents a minute fraction of Manhattan’s current 450m sq ft - a healthy market with availability fluctuating between 9%-11% over the past few years. But it’s new product that sets the tone for the market, and a half-million vacant square feet in a closely watched debut tower carries more psychological baggage than the same amount of space in an older one.

The sheer volume of new inventory likely to fetch $75-$100 per sq ft has for now stifled claims that London’s new construction was outpacing New York’s. But it’s received little public attention for two reasons.

Unlike previous development cycles that briefly left several new towers empty in a concentrated small area, as in Times Square around 1990, today’s are widely scattered among downtown, central Midtown and the far West Side. High-profile signings for Condé Nast, GroupM, Media Math, Time Warner, L’Oréal, Coach Inc., Bank of China and probably soon Skadden Arps upstaged the fact that more than half the space is yet to be spoken for.

There are signs of slow going: at 1 WTC, the highest-profile project by far, the Port Authority and the Durst Organization cut asking rents from $80/sq ft to the $60s on middle floors. More than one-third of the ‘iconic’ tower’s 3m ft remain available.

While the new World Trade Center looms large in most local minds, the same isn’t true for Hudson Yards. New Yorkers are vaguely aware that four cloud busting commercial projects are going up in the area, and that they’ll be joined by a 1m sq ft retail complex anchored by Neiman Marcus.

Even so, since most of the blocks between Ninth Avenue and the Hudson River remain a construction zone, there’s little reason to stroll around yet. But all the projects by Related, Brookfield, and possibly by Tishman Speyer and Moinian Group will create a brave new frontier for Manhattan business.

So far, most leasing activity has been in the TAMI sector (technology, advertising, media, information) - a tenant base that may, in the long run, prove more shallow than financial services. Wall Street, historically the driver of the Manhattan market, has sat it out both uptown and downtown. Hedge funds get lots of publicity for signing leases at $150/sq ft, but their space needs rarely exceed 20,000 sq ft.

Meanwhile, onerous regulatory legislation since the 2008 crash has discouraged large banks from hiring despite record profits. At the same time, the traditional yardstick of 250 sq ft per employee has been whittled down to as low as 175 sq ft as firms eschew traditional floor plans for open setups.

Bank of China, the only major financial user among the new-tower occupiers, seems to have had a change of heart about its needs. The bank is buying 7 Bryant Park, a striking new spec project developed by Hines, for $610m.

Two other imminent signings reflect the pattern. TD Bank is to anchor SL Green’s One Vanderbilt. Yet it’s a mere 200,000 of the tower’s 1.3m sq ft. Brookfield has a letter of intent with Skadden Arps at 1 Manhattan West (between Ninth and 10th avenues at West 30th Street) - yet the law firm is expected to take only 500,000 of nearly 2m sq ft, compared with 800,000 sq ft it will leave behind at 4 Times Square.

How have the projects gotten financing despite little pre-leasing? Partly thanks to public subsidies that somewhat reduced development costs at the WTC and Hudson Yards. An interesting exception is One Vanderbilt; not only is it to be built without any subsidies, but SL Green must pay for and create $210m worth of public amenities. Foreign capital stepped up as well - like Related Companies’ partnerships with Canada’s Oxford Properties at 10 and 30 Hudson Yards.

If history is a guide, the new skyscrapers will all find users. But if successful, they’ll permanently alter Manhattan’s chemistry by drawing great companies far from central Midtown. What effect it may have on the fabled district of landmarks including the Chrysler and Seagram buildings may be the great commercial drama of early 21st-century Manhattan.
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)
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Old April 25th, 2015, 02:10 AM   #835
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Nice! I hope Cuozzo is correct!
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Old April 25th, 2015, 05:34 AM   #836
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3 Hudson Blvd

The crane at the 3 Hudson site (north side of 34 st) is for the & Ext station entrance. The building cant start until the subway contractor leaves the site.
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Old April 25th, 2015, 10:56 PM   #837
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Quote:
Originally Posted by Vertical_Gotham View Post
SSC has a new look on the phone!! I just have to get use to it.

Is that a crane on 3 HB site!!
You can change it back, if you don't already know.
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Old April 26th, 2015, 03:55 AM   #838
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Thanks!! Yea I was able to figure it out,
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

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Old April 26th, 2015, 05:20 PM   #839
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3 HB & "Site P" plan from 2006

Quote:
Originally Posted by mmkkk View Post
The crane at the 3 Hudson site (north side of 34 st) is for the & Ext station entrance. The building cant start until the subway contractor leaves the site.
That single station #7 subway extension is a sad, current, example of the NYC area's problem with EXPENSIVE, takes-forever-to-complete capital construction projects.

Here's a reminder from the 2006 PLAN, which might have been developed before MTA Capital Construction was created to "manage" these VERY-expensive projects.
Site P underlies 3 HB.

That being stated, I really should check out the finally open Fulton Transit Center:


MTA
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Old April 26th, 2015, 08:31 PM   #840
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The Fulton Transit Center is amazing.
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