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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old July 23rd, 2015, 03:04 AM   #2601
Uaarkson
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Absolutely can't wait to see the steel.
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Old July 23rd, 2015, 08:51 AM   #2602
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wow!! Looks amazing and "different".
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Old July 23rd, 2015, 04:09 PM   #2603
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If this building wasn't downsized so much it would probably be my favorite building in the city, oh well it will still be in my top 10
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Old July 24th, 2015, 03:30 AM   #2604
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This is the building in NYC that should be soaring to 1600-1800ft. Pure swag.
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Old July 24th, 2015, 08:43 PM   #2605
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Great Gothic/H R Giger looking tower.

It'll look great in contrast to its surroundings - and on a moody, dark, wet thunderstormy night.

Looking forward to this one grow.
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Old July 25th, 2015, 02:37 AM   #2606
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Quote:
Originally Posted by paindoc View Post
This is the building in NYC that should be soaring to 1600-1800ft. Pure swag.
I made a similar comment not too long ago because I feel the same way.

December 31st, 2014, 01:31 AM
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I'm no architect, but I seriously can't think of any improvements. Sure, it could be taller, but the design is just flawless.

In a perfect world this would be New York's signature tower at 1,800ft and 100 floors.
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Old August 2nd, 2015, 06:57 PM   #2607
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Old August 2nd, 2015, 09:56 PM   #2608
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Not that it matters, but I got a feeling this tower is going to take forever to finish....
Whats the expected move in date?
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Old August 2nd, 2015, 09:59 PM   #2609
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Foundations Always take a lot of time. Nothing to worry about.
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Old August 3rd, 2015, 01:19 AM   #2610
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This building is for sure the worst one in the group of the NYC new residencial suppertalls, worst location and worst views, the architecture is an amazing contribution for the skyline but does not make any sense for the future owners.
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Old August 3rd, 2015, 02:59 AM   #2611
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Originally Posted by Costa&Ribeiro View Post
This building is for sure the worst one in the group of the NYC new residencial suppertalls, worst location and worst views, the architecture is an amazing contribution for the skyline but does not make any sense for the future owners.
This tower will have spectacular views of the New York skyline.
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Old August 3rd, 2015, 05:25 AM   #2612
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This tower will have spectacular views of the New York skyline.
All the other developments have spectacular skyline views as well, thats not a selling point at this crazy supertall market right now.

Last edited by Costa&Ribeiro; August 3rd, 2015 at 05:44 AM.
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Old August 3rd, 2015, 05:25 PM   #2613
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All the other developments have spectacular skyline views as well, thats not a selling point at this crazy supertall market right now.
Obviously this building has a lot more than spectacular views going for it. This building is highly anticipated and it will do extremely well.
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Old August 3rd, 2015, 06:51 PM   #2614
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Foundations Always take a lot of time. Nothing to worry about.
to me it looks they're even pretty fast.
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Old August 4th, 2015, 04:34 AM   #2615
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Quote:
Originally Posted by wilfred267 View Post
Obviously this building has a lot more than spectacular views going for it. This building is highly anticipated and it will do extremely well.
It won't, unless they practice a discount here.
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Old August 4th, 2015, 06:22 AM   #2616
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It won't, unless they practice a discount here.
It's always great to hear what's really going on directly from one of the luxury real estate expert geniuses like yourself.
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Old August 4th, 2015, 04:24 PM   #2617
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Originally Posted by Costa&Ribeiro View Post
All the other developments have spectacular skyline views as well, thats not a selling point at this crazy supertall market right now.
Didn't you just argue that bad views was one of the reason this building isn't going to sell? That would make good views a selling point.

Also do we even know what these units are going for yet? Also who cares cause I'm pretty confident that everyone on this forum is going to get what they want... to look at it. I highly doubt any of us are in the market.
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Old August 4th, 2015, 07:59 PM   #2618
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Quote:
Originally Posted by generalscarr View Post
It's always great to hear what's really going on directly from one of the luxury real estate expert geniuses like yourself.
Quote:
Originally Posted by tparkerzut View Post
Didn't you just argue that bad views was one of the reason this building isn't going to sell? That would make good views a selling point.
You don't have to be a real estate expert to understand Costa&Ribeiro's point, you just have to have been following the trends pertaining to the Billionaire's Row towers and luxury residential in general over the past couple years.

First off, he's not talking about skyline views -- nearly every crappy apartment in Manhattan has a spectacular skyline view, because the skyline is spectacular from basically every angle, so it's not going to tack on dick in terms of sales price. Rather, he's talking about Central Park views. Per this Real Deal breakdown of the values of various building amenities, an unobstructed Central Park view is worth up to +50% over the base value of the unit.

Consider that the penthouse of One57 sold for almost exactly $100 Million. If you took away the unobstructed view, the same unit would sell for ~$66 Million.

Add to that the fact that, at the time, One57 was the only building of its kind on the market. By the time Tower Verre is finished, the market will be saturated. One57 and 432 Park will both have been completed for years, and Nordstrom, Steinway and 220 CPS will all be coming online (all not only boasting those all-important CP views, but actually obstructing Tower Verre's.)

You can already see the saturation taking affect now when you consider that the penthouse for 432 Park has been rumored to be in contract in the high-$80M/low-$90M range, ~$10M less than its One57 counterpart, even though the 432 PH boasts a much better interior design and is nearly 400 ft. higher.

You could argue people will pay more to live in an architectural masterpiece (which might be proven by the case of the ludicrously expensive Woolworth conversion), but in this case, the defining architectural feature of the building actually further obstructs the views.

All-in, I would wager the top units could sell in the $50M-$70M range, but this is why I keep saying Amanda Burden royally screwed Hines with her height-cut. Every floor they had to cut eats significantly into their profit margin.
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Old August 5th, 2015, 02:25 AM   #2619
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Quote:
Originally Posted by tparkerzut View Post
Didn't you just argue that bad views was one of the reason this building isn't going to sell? That would make good views a selling point.

Also do we even know what these units are going for yet? Also who cares cause I'm pretty confident that everyone on this forum is going to get what they want... to look at it. I highly doubt any of us are in the market.

The point here is the location and the exterior design, the view from these location can not be compared to the one of the buildings located at 57th, set it apart the exterior design makes everything more easy, no? I can't even count how many bars we have here.



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Old August 5th, 2015, 08:52 PM   #2620
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When you're on one of the upper floors of these buildings it is impossible to see the ground close to the base of the building. Your usable view actually starts a a few blocks away.

Not to say this building has great views, but being a few blocks back from the park doesn't make the park view worse. That is... if the view isn't blocked by a future tower.

In my opinion this building makes as much sense. It doesn't have to be the tallest, offer the best view or be the best at anything. Occupancy rates are high so why not build a building of this height?
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