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Old December 8th, 2009, 08:36 AM   #221
desertpunk
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Originally Posted by spectre000 View Post
Silverstein breaks the silence in W.T.C. dispute

http://downtownexpress.com/de_340/si...einbreaks.html

Silverstein also gave a brief update on 99 Church St., the fenced-off site next to the Woolworth Building that was supposed to be an 80-story condo and hotel tower run by the Four Seasons. Silverstein stopped construction on the tower this summer after finishing the foundation because he could not get a loan to continue building above street level.

“We’re going to have to be patient,” Silverstein said. “Four Seasons’ attitude is, ‘Hey, whenever it comes, it comes. We’re there, we’re ready.’”

Silverstein said he feels the same way and he expects to get a loan in 2011 and finish the building in 2013 or 2014.
Hotel/condo: the two dirtiest words in the english language to a banker these days. It will definitely have to wait until all the commercial real estate dead bodies wash ashore. In the meantime, how 'bout a nice redesign?
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Old December 11th, 2009, 12:10 AM   #222
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I don't think it needs redesigning. I love the classic look and the extreme slenderness.
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Old December 11th, 2009, 05:32 AM   #223
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I like when people‚ compare the whole country of China to New York City lol. Its not like we're building small buildings here. What about Chicago, Philly, Miami to name few. Grant most of these buildings are just a little over 800 feet.
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Old December 12th, 2009, 06:51 AM   #224
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So who changed this to U/C again. Where is the source and where are the pictures?
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Old December 12th, 2009, 07:02 AM   #225
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So who changed this to U/C again. Where is the source and where are the pictures?
I don't think anybody ever changed it to "On Hold". Definetly should not be titled "U/C".
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Old December 12th, 2009, 08:16 AM   #226
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Weird because I remember seeing this thread in the proposed section with the title On Hold. I'll change it again.
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Old December 21st, 2009, 09:07 PM   #227
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lofter1, WNY

Quote:
Developers Reconsider the ‘Condotel’

NY TIMES
By ALISON GREGOR
December 17, 2009

IN the new home financing landscape created in this recession, certain categories of high-rise development are apparently on the verge of dying out, and one is the “condotel.”

Popular in Las Vegas and Miami, condotels were catching on New York City when the credit crunch hit in 2008. A combination of a hotel and condominiums in one building, the condotel, or condo-hotel, gives condo buyers access to hotel services, but often restricts their occupancy during the year.

During periods when the owner is not in residence, the hotel rents out the condo, providing the owner with income.

Examples of the condotel are the ritzy Plaza Hotel residences at 768 Fifth Avenue and 59th Street, and several Trump buildings, including the new Trump SoHo at 246 Spring Street and Varick Street, which will open to residents in February.

The problem is that banks have been unwilling to finance buyers in condotels ...

Foreign buyers are often drawn to condotels. Intending to use the unit infrequently, they don’t mind the restrictions on occupancy, and like the convenience and income.

Mr. Kruysman says they either pay in cash or use bank financing that he found after much searching.

“Lloyds TSB International will do loans in New York,” he said. “I’ve done several of those for foreign nationals. But one thing that isn’t appealing for people is that it’s almost a floating interest rate. By year’s end, the rate may have changed many times, which makes it hard to judge if it makes sense for you as an investment vehicle.”

The Four Seasons at 99 Church Street in the financial district is another condotel that got held up by the credit crunch. But the developer, Silverstein Properties, is seeking construction financing, said Dara McQuillan, a spokesman.

“Look for it in 2012,” he said, and laughed. “We’ll be doing the type of condo-hotel where buyers can get financing.”
Copyright 2009 The New York Times Company
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Old December 22nd, 2009, 11:06 PM   #228
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There goes that Larry Silverstein again...
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Old December 23rd, 2009, 02:11 AM   #229
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at less he's working on it when he's working on it
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Last edited by kingsc; January 31st, 2010 at 09:51 AM.
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Old January 30th, 2010, 07:18 PM   #230
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NYGuy, SSP

JANUARY 29, 2010

http://www.nytimes.com/2010/01/15/ar...n/15vogel.html

Quote:
Bringing Some Whimsy to Construction Sites

On Saturday a crew of 10 will start putting up another work, this one at 99 Church Street, where a 912-foot-tall residential and hotel tower —
the tallest in New York — is being developed, although the project is in limbo pending financing. The Israeli-born photographer
Maya Barkai has created “Walking Men 99.” Fascinated by the walking-figure symbol that accompanies traffic signals around the world,
she has composed a series of 99 examples of them marching side by side that will cover a plywood wall surrounding the property.





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Old January 30th, 2010, 11:21 PM   #231
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Cool installation/public art work, I like the concept a lot & thx for the pics
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Old January 31st, 2010, 10:00 AM   #232
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I don't see anything artistic about that. I seen guy go to jail who've done far better. Tagging walls is a new york art form to bad its become a lost art.
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Old January 31st, 2010, 11:55 AM   #233
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Quote:
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I don't see anything artistic about that. I seen guy go to jail who've done far better. Tagging walls is a new york art form to bad its become a lost art.
there's a difference between vandalism and a legal art installation.
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Old January 31st, 2010, 12:13 PM   #234
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Quote:
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Cool installation/public art work, I like the concept a lot & thx for the pics
I agree. Great idea
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Old February 1st, 2010, 08:48 AM   #235
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Quote:
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there's a difference between vandalism and a legal art installation.
Who said anything about vandalism. Most of those artist got payed for you their work. Legal or not it still looks better then that. My 5 year old cousin, could have done better.
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Old February 1st, 2010, 12:54 PM   #236
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the site is cleared and ready for construction to begin. it's only a matter of time until they get the financing.
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Old February 4th, 2010, 01:19 PM   #237
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the site is ready...

agent j loves agent a
image hosted on flickr



image hosted on flickr
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Old February 5th, 2010, 05:02 AM   #238
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hola algun colombiano
CLaro aqui presente !
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Old February 5th, 2010, 05:34 AM   #239
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Man I was looking through the thread and us New Yorker were really popping fly about this getting done. Well It was mostly me lol at less they did something. I'm sure its been finish for a while now.
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Old February 27th, 2010, 12:36 AM   #240
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A real shame that this beauty is on hold!
Its design is one of the greatest proposed for NYC at the moment. A redesign would be absolutely unnecessary.
Hope dies last.
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