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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old January 11th, 2013, 02:36 AM   #1721
RobertWalpole
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Quote:
Originally Posted by aquablue View Post
Flip after how long do you think? What is the market for these flippers, foreign or domestic?


I realize this is the same process that helped fuel Dubais boom. Wealthy people from an unstable or poor area buying safe haven investments in a secure economy.
Property markets in NY and London are the world's safehavens. There will not be an investment bubble.
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Old January 11th, 2013, 02:39 AM   #1722
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Quote:
Originally Posted by Lodgy Lion View Post
Nope. Not even close. Dubai was built with oil well money and dirt cheap labor. Central Park > some random sand dune.
Where do you think the demand comes for many of those Dubai apartments? Not from Dubai, that's for sure. People from the region are buying properties there as a safe investment. They financed these towers differently from NY due to state support, but they must have had several markets in mind to target, and I feel strongly from what I have read about Dubai that many properties were bought by such buyers, especially from the Middle East and South Asia.

Last edited by aquablue; January 11th, 2013 at 02:47 AM.
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Old January 11th, 2013, 02:42 AM   #1723
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Quote:
Originally Posted by RobertWalpole View Post
Property markets in NY and London are the world's safehavens. There will not be an investment bubble.
That is not my point. I was just noting a few similarities between the source of demand for new York and Dubai, wealthy or not so wealthy people looking for a secure investment away from their unstable home nations.
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Old January 11th, 2013, 02:44 AM   #1724
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Quote:
Originally Posted by aquablue View Post
Where do you think the demand comes for many of those Dubai apartments?
There was/is no demand. Lol. The Burj is practically empty.
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Old January 11th, 2013, 02:56 AM   #1725
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Quote:
Originally Posted by Lodgy Lion View Post
There was/is no demand. Lol. The Burj is practically empty.
I don't believe there was or is no demand at all.. Prove it with a link. The demand might not have been what they expected and they overbuilt. However, no matter the occupancy rate, probably many of those who bought were wealthy people from unstable areas looking for safe investments. In that way there is a similarity to what is happening in NY. Basically foreign buyers were the target markets in both cities and a major impetus to build despite differences in how the financing was acquired and the scale of building.

I believe what Dubai did was a major panic move due to the diminishing oil reserves, to establish an identity in the foreign mind quickly and spectacularly to usher in the transformation of Dubai into a service economy from a resource economy. I believe that demand will eventually catch up as Dubai is becoming a major transportation hub linking east And west. Emirates is on its way to become the worlds airline and its port is massive.

Last edited by aquablue; January 11th, 2013 at 03:25 AM.
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Old January 28th, 2013, 02:09 PM   #1726
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are there some new pics of the site?
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Old January 28th, 2013, 02:39 PM   #1727
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Quote:
Originally Posted by aquablue View Post
That is not my point. I was just noting a few similarities between the source of demand for new York and Dubai, wealthy or not so wealthy people looking for a secure investment away from their unstable home nations.
There's the same (and possibly even greater) international demand for properties in London, and there's no worry about a bubble. NY and London's über-high end markets are not like property markets elsewhere.
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Old January 28th, 2013, 03:43 PM   #1728
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Quote:
Originally Posted by acerx View Post
are there some new pics of the site?
Edit: Nothing going on here or 107 W 57th, I'd expect something to happen in the spring. Baccarat tower across the street from here is two stories up though.

Last edited by yankeesfan1000; January 28th, 2013 at 07:11 PM.
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Old January 29th, 2013, 05:38 PM   #1729
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this is an amazing tower...go NY, great one!
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Old January 29th, 2013, 09:37 PM   #1730
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Hines has invested a lot of money and effort into this tower.

http://therealdeal.com/blog/2013/01/...ights-program/

Last edited by RobertWalpole; January 29th, 2013 at 10:16 PM.
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Old January 30th, 2013, 10:15 AM   #1731
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So how long till this tower gets built?
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Old January 31st, 2013, 01:16 AM   #1732
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I'd say give it at most 18-24 months to start, and then another 2-3 years to complete.
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Old January 31st, 2013, 01:38 AM   #1733
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I say give it 15 months to prepare the site.
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Old January 31st, 2013, 05:08 AM   #1734
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I'd be shocked if it didn't start within 5 months.
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Old January 31st, 2013, 02:39 PM   #1735
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Yeah this has dragged on for long enough, I agree with Robert. It should start fairly soon.
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Old January 31st, 2013, 10:00 PM   #1736
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Who Prefers The Redesign To The Original

I am curious to know how many of you actually prefer the new design to the original one even with the height reduction?

Thanks,
Bugs
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Old January 31st, 2013, 11:05 PM   #1737
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Of course I like the old design more than the new. But I must admit I haven't seen much renders of the new design.
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Old February 1st, 2013, 01:37 PM   #1738
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The first design of course, not just because of the height, but also the changes in the crown and less distinct beams in the facade with the new design.
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Old February 1st, 2013, 05:40 PM   #1739
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Old design. Regardless, this might end up being one of the most beautiful buildings in the world.
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Old February 1st, 2013, 09:33 PM   #1740
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old one of course was much better.
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