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Old May 31st, 2013, 01:51 AM   #2621
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And that's why the thread should split up. Coach is U/C while the other buildings are not.
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Old May 31st, 2013, 12:51 PM   #2622
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I agree, this thread needs to be cut into 4 pieces.
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Old May 31st, 2013, 05:34 PM   #2623
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I have to be the voice of dissent on this one. HY has always been sold to us as being a Rockefeller Center for the 21st century. I want us to keep looking at it as one complete piece.
Just my opinion, I'm not saying that you guys are nuts
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Old May 31st, 2013, 06:15 PM   #2624
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This thread should definitely be split up. These are four separate buildings, one of which is well under construction.
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Old May 31st, 2013, 08:58 PM   #2625
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Quote:
Originally Posted by tmb-ingville View Post

I have to be the voice of dissent on this one. HY has always been sold to us as being a Rockefeller Center for the 21st century. I want us to keep looking at it as one complete piece.
Just my opinion, I'm not saying that you guys are nuts
We split the WTC... don't see why that logic works here.
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Old June 1st, 2013, 02:43 AM   #2626
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Exactly.
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Old June 1st, 2013, 05:37 AM   #2627
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By RoldanTTLB (via WNY),

image hosted on flickr


image hosted on flickr
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Old June 1st, 2013, 06:28 PM   #2628
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That building on the upper left side of the top photo looks like something out of Buck Rogers.

I spy the beginnings of a tower crane.


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Old June 1st, 2013, 06:31 PM   #2629
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Brookfield owns that building, and it's adjacent to Brookfield's Manhattan West proposal. It will be redeveloped at some point.
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Old June 4th, 2013, 01:28 PM   #2630
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This article from the 4 June 2013 NY Post addresses Time Warner's hunt for 1m sf, Sony's hunt for 400k, etc.

http://www.nypost.com/p/news/busines...0xzzxOipfOsjRI
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Old June 4th, 2013, 01:52 PM   #2631
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Hopefully we'll see some signings soon.

Quote:
Although financial services continue to sit out the office-leasing scene, brokers are bullish for a good reason:

At least a half-dozen major media companies are actively trolling the market for large blocks of space — not in Midtown South or Flatiron, but in pricier central Midtown and/or at newly constructed or planned towers at the World Trade Center and Hudson Yards.

Those looking include Time Warner for 1 million square feet or more; Warner Music, 250,000; Sony, 400,000 to 500,000; AMC Networks, 250,000 to 300,000; and NBCUniversal, 75,000 to 100,000.

Most of their current leases aren’t up until 2015 or 2016. Some might choose to stay at their current locations. But they’re on the hunt now to lock in deals at addresses that are only likely to cost more down the line.

Rents typically lag a run-up in equity markets by 18 months. The Dow has breached the 15,000 level, so brokers expect rents to spike soon.
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Old June 4th, 2013, 02:38 PM   #2632
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Hey folks, I think the Coach Tower data in the title of this thread should be removed by a mod now that the Coach Tower has its own thread
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Old June 4th, 2013, 02:43 PM   #2633
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Quote:
Originally Posted by Eric Offereins View Post
Hopefully we'll see some signings soon.
I agree. There's also Ralph Lauren, which seeks around 750k sf; Newscorp, which seeks 1m sf; Credit Suisse, which seeks 1m sf., etc.
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Old June 4th, 2013, 04:41 PM   #2634
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Quote:
This article from the 4 June 2013 NY Post addresses Time Warner's hunt for 1m sf, Sony's hunt for 400k, etc.
Does anyone have a guess if a 1m sf lease would have a spill over effect in getting the other towers built?
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Old June 4th, 2013, 05:42 PM   #2635
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I guess so, a million sf is a lot of space.
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Old June 4th, 2013, 09:46 PM   #2636
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I guess something like that is needed to get the momentum going. I'm sure others will follow when the north tower gets leased.
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Old June 5th, 2013, 12:22 AM   #2637
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My update! Similar to above - progress on excavation, and a CRANE!

Hudson Yards June 2013 Construction Update

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Old June 5th, 2013, 01:56 PM   #2638
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Interesting news from the 5 June 2013 NY Post re: TW's possible sale of its Columbus Circle HQ with a 5 year lease back, so that it could wait until its new HQ is built!

http://www.nypost.com/p/news/busines...Xe8KOSx5CYPJFK

TW is at Center of hot attention
By LOIS WEISS
Last Updated: 12:25 AM, June 5, 2013
Posted: 11:52 PM, June 4, 2013
Lois Weiss
BETWEEN THE BRICKS
The office portion of the Time Warner Center is getting closer to a billion-dollar-plus resolution.

Bids that clustered to the $1.3 billion mark came in last week for the 1.1 million square feet of offices and studio space owned by Time Warner. Marketed through Douglas Harmon and Adam Spies at Eastdil Secured, the high range would translate to roughly $1,180 a square foot.

The space includes the lower portion of the south tower, stretches over the retail podium and goes up into a portion of the north tower. The studios of 100,000 square feet are double- and triple-height and could be turned into offices, trading floors, re-rented to other entertainment companies — Al-Jazeera anyone? — or even a private basketball court.

Because the Time Warner Center makes a great picture postcard with its stunning, twin reflective towers and curving atrium retail around Columbus Circle on the edge of the most active of Central Park gates, the sale attracted its own global conglomerate of bidders.

“There are Japanese, Chinese, sovereign-wealth funds, pension funds, equity funds, local owners, users, pension funds and REITs,” advised one person briefed on the hefty competition.

When it was completed 10 years ago, the $1.8 billion project designed by David Childs of Skidmore, Owings & Merrill was the most expensive ever. Developed by the Related Cos., the building also includes the retail shops, luxury condominium residences, the Mandarin Oriental Hotel, [email protected] Center and parking, all owned as separate condominiums.

The office segment has its own lobby on West 58th Street, while the executive floors are high-end built-out space with numerous terraces, and include amenities like a screening room and a cafeteria.

We also hear that at some point, the next owners could rename the building.

“It’s a great asset but . . . someone will take a big, big gamble on it as they have to get rents from $100 a square foot in the base to $140 a square foot above,” said Greg Kraut of Avison Young, which advised some bidders.

On condition of anonymity, various bidders tell us Time Warner will be leasing back the space for around five years, giving the entertainment titan time to move into its next quarters.

That relatively long stretch includes time for the development of a new building along with time to fit it out.

Mitchell Steir, CEO of Studley, overseeing the as much as 4 million square-foot consolidation and relocation of Time Warner, did not return calls for comment.

We also hear his client is taking “a breather” and stepping away from the search for a few months to get its own businesses in order.

Last month, it was revealed Related was trying to swap Extell’s Gary Barnett a site it owns with Boston Properties on Eighth Avenue and West 45th Street that we told you it was selling through Mark Weiss of Newmark Grubb Knight Frank.

This is next to a garage controlled by Barnett. In return, Related wanted Barnett’s 1 Hudson Yards site at 34th Street and Eleventh Avenue so it could move forward with its giant towers and retail podium.

Now we’ve learned the deal is actually in contract, with Related throwing in the Times Square site and adding cash to sweeten the pot to gain the 1 Hudson site from Barnett. None of the parties returned calls for comment....
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Old June 5th, 2013, 11:47 PM   #2639
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One Hudson Yards is now a Related development:

One Hudson Yards property swap deal between Related and Extell in contract



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A property swap deal between the Related Companies and Extell Development on Manhattan’s West Side is now in contract, the New York Post reported.

As part of the deal, Related will give Extell a site it owns with Boston Properties on Eighth Avenue and West 45th Street and some cash on top in exchange for Gary Barnett’s 56-story, 1.7 million-square-foot office tower 1 Hudson Yards, located on 11th Avenue at 34th Street. The deal will allow Related to move forward on construction of its towers and retail podium at the Hudson Yards megaproject .
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Old June 6th, 2013, 12:57 AM   #2640
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The good part about this land swap is that Extell can build a pretty big tower on 8th Ave in Times Sq with the addition of Related's parcel.
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