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Old January 15th, 2013, 11:40 PM   #641
Kanto
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Yup, I agree, those are preparations, title should be changed
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Old January 15th, 2013, 11:43 PM   #642
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Yup, I agree, those are preparations, title should be changed
And there we are!
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Old January 16th, 2013, 01:12 AM   #643
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Excellent.
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Old January 16th, 2013, 01:45 AM   #644
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I'm really surprised and disappointed they went with such a generic design. At least it's happening in step with the guys on the other side of the wretch.
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Old January 16th, 2013, 02:05 AM   #645
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I'm really surprised and disappointed they went with such a generic design. At least it's happening in step with the guys on the other side of the wretch.
Those pot bellied buildings are not the final design. As noted, office towers will not rise here for a long time. Residential towers will.
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Old January 16th, 2013, 02:28 AM   #646
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Those pot bellied buildings are not the final design. As noted, office towers will not rise here for a long time. Residential towers will.
Sounds good, got worried with that poster behind Bloomberg.
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Old January 16th, 2013, 02:51 AM   #647
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How platform will be made:










http://gothamist.com/2013/01/15/awes...di.php#photo-5

And cool video with towers at the end:

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Old January 16th, 2013, 02:54 AM   #648
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Those pot bellied buildings are not the final design. As noted, office towers will not rise here for a long time. Residential towers will.
What is your reasoning behind that? The articles that have been posted on here keep saying that it is a "much needed expansion to the central business district"? And that they will be completed by 2016. Sounds like their going for office towers to me!
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Old January 16th, 2013, 02:58 AM   #649
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http://gothamist.com/2013/01/15/phot...ks.php#photo-1
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Old January 16th, 2013, 03:08 AM   #650
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What is your reasoning behind that? The articles that have been posted on here keep saying that it is a "much needed expansion to the central business district"? And that they will be completed by 2016. Sounds like their going for office towers to me!
That's what they say. They need to find tenants first. Related and 3WTC currently are getting all of the tenants. Thereafter, Brookfield will have to compete with:

2 WTC,
15 Penn,
1 Vanderbilt,
One Hudson Yards,
Sherwood's HY tower,
7 Bryant Park,
51 Astor,
425 Park,
Alloy Development's proposed 1m sf tower in the Yards,
Moinian's block of about 500k sf of space within the Girasole, etc

Not to mention, Related will have the rights to build about 2.5m sfr of office space on 33rd st, just north of the Yards. Lastly, there's the Midtown rezoning....

Brookfield has its hands full with a lot of empty space at the WFC. It can talk all it wants about building office space at Manhattan West. Right now, it's obviously proceeding with residential there, and more is likely to follow on that site. It could build four residential/hotel towers with a lot of retail and gobble up 4m of the roughly 5.4m sf on the site, and then transfer the remaining 1.4m sf to the contiguous 450 W 33rd St site where it already controls about 2m sf. With 3.4m sf on that site, maybe NY one day will get its first 600m+ tower in 10 years.

Last edited by RobertWalpole; January 16th, 2013 at 04:15 AM.
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Old January 16th, 2013, 06:07 AM   #651
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Quote:
Originally Posted by RobertWalpole View Post
That's what they say. They need to find tenants first. Related and 3WTC currently are getting all of the tenants. Thereafter, Brookfield will have to compete with:

2 WTC,
15 Penn,
1 Vanderbilt,
One Hudson Yards,
Sherwood's HY tower,
7 Bryant Park,
51 Astor,
425 Park,
Alloy Development's proposed 1m sf tower in the Yards,
Moinian's block of about 500k sf of space within the Girasole, etc

Not to mention, Related will have the rights to build about 2.5m sfr of office space on 33rd st, just north of the Yards. Lastly, there's the Midtown rezoning....

Brookfield has its hands full with a lot of empty space at the WFC. It can talk all it wants about building office space at Manhattan West. Right now, it's obviously proceeding with residential there, and more is likely to follow on that site. It could build four residential/hotel towers with a lot of retail and gobble up 4m of the roughly 5.4m sf on the site, and then transfer the remaining 1.4m sf to the contiguous 450 W 33rd St site where it already controls about 2m sf. With 3.4m sf on that site, maybe NY one day will get its first 600m+ tower in 10 years.
They could, but I doubt it. There is no indication that they will build more residential towers.
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Old January 16th, 2013, 06:09 AM   #652
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Nice! This is great!
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Old January 16th, 2013, 06:11 AM   #653
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Re: No. 651. There is no indication that they won't. In fact, the realities that I cited suggest that they will build more residential, for which there is a great demand, and forego office space, for which they face MASSIVE competition.
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Old January 16th, 2013, 06:31 AM   #654
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i dont understand why there is a boom in office building in manhattan. As far as im aware, New York's office vacancy rate rather high. any explanation?
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Old January 16th, 2013, 06:37 AM   #655
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i dont understand why there is a boom in office building in manhattan. As far as im aware, New York's office vacancy rate rather high. any explanation?
No. NY and SF have the strongest markets in the US. NY's market also is utterly gigantic, so there's always a demand for space. That being said, Brookfield will be competing with many other developers, all of whom seek to build about 12m sf of space at premium rents. Over time ten to fifteen years, there is a need for every one of those towers. No such need exists for them all at once, however. Thus, it will be a fierce competition.
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Old January 16th, 2013, 05:28 PM   #656
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i dont understand why there is a boom in office building in manhattan. As far as im aware, New York's office vacancy rate rather high. any explanation?
Because almost 90% of Manhattan's commercial real estate when measured by square feet, predate 1970. This has a lot of consequences, like floorplates are littered with columns and smaller than they are in modern buildings, the buildings aren't as energy efficient, they may not be as compatible with modern office infrastructure, less natural light, etc.

The other thing is that the demand for space in Manhattan has grown a lot since the 1970s as companies have just simply gotten bigger, and relocated back into the city, but with so few new buildings being built and the loss of the original WTCs 14 or so million sf of space, companies have sort had to take space wherever they can find it. So Time Warner has 10 different addresses in Manhattan, Citi probably isn't far behind, JP Morgan has a handful, as does Goldman, Morgan Stanley is all over the place, and those types of scattered locations are the norm in Manhattan for big companies. So a lot of the current demand is coming from huge companies that are A) looking to consolidate from a number of different locations into one huge building, and/or B) are currently in a building that was built 40+ years ago and they just simply want a modern building.

Hope that helps.
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Old January 16th, 2013, 05:34 PM   #657
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They remind me the twin towers.
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Old January 16th, 2013, 11:06 PM   #658
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Because almost 90% of Manhattan's commercial real estate when measured by square feet, predate 1970. This has a lot of consequences, like floorplates are littered with columns and smaller than they are in modern buildings, the buildings aren't as energy efficient, they may not be as compatible with modern office infrastructure, less natural light, etc.

The other thing is that the demand for space in Manhattan has grown a lot since the 1970s as companies have just simply gotten bigger, and relocated back into the city, but with so few new buildings being built and the loss of the original WTCs 14 or so million sf of space, companies have sort had to take space wherever they can find it. So Time Warner has 10 different addresses in Manhattan, Citi probably isn't far behind, JP Morgan has a handful, as does Goldman, Morgan Stanley is all over the place, and those types of scattered locations are the norm in Manhattan for big companies. So a lot of the current demand is coming from huge companies that are A) looking to consolidate from a number of different locations into one huge building, and/or B) are currently in a building that was built 40+ years ago and they just simply want a modern building.

Hope that helps.
Will much of the vacated outdated space then be filled after these firms move, or will it be converted to residential?
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Old January 16th, 2013, 11:15 PM   #659
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Depending on the location of the outdated space, it may very well be redeveloped into new towers.
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Old January 17th, 2013, 01:30 AM   #660
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They remind me the twin towers.
Yes, they indeed look a bit like the Time Warner Center because they are both glassy. But these will be higher and they could become the highest twin towers in the US. If build so.
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