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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old May 3rd, 2013, 12:42 AM   #821
Archaean
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You talk out of your _____. I am from NY, as well, and still live here.
Not trying to be offensive. Just being blunt. And arent you from London?
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Old May 3rd, 2013, 12:43 AM   #822
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I completely agree with you. If somebody knows what's going on in real estate development, it's Bob
Thank you, Kanto.
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Old May 6th, 2013, 09:19 PM   #823
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Office developers compete for anchor tenants on Manhattan’s western edge


Cushman & Wakefield’s Bruce Mosler and Brookfield’s
Jeremiah Larkin at the Manhattan West construction site


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Only a few times in modern Manhattan history has an entirely new office district sprung up all at once. In the 1930s, there was Rockefeller Center; the 1970s saw the World Trade Center complex; and today, developers are planning nearly 15 million square feet of new office space in the Hudson Yards area in the 30s on the Far West Side.

The new projects expected to rise over the next decade include the Related Companies’ North and South towers at Hudson Yards, Extell Development’s One Hudson Yards, Brookfield Office Properties’ Manhattan West and Moinian’s 3 Hudson Boulevard, as well as Sherwood Equities’ 447 10th Avenue and Alloy Development’s 450 Hudson Park Boulevard.

But before starting construction on these new towers, developers must first land an anchor tenant willing to take at least 400,000 square feet of space. With only a finite number of large potential renters, the competition for office tenants is heating up, as some of the city’s top commercial leasing brokers and developers battle each other with slick marketing campaigns and — of course — behind-the-scenes jabs at rival projects.

[...]

There are currently 10 to 20 companies said to be on the hunt for large chunks of Manhattan office space, brokers said. These include media companies Time Warner, Sony, CBS and News Corp.; law firms White & Case and Skadden, Arps, Slate, Meagher & Flom; advertising firm GroupM; financial giant Credit Suisse; and fashion house Ralph Lauren. Brokers for the new Hudson Yards–area towers are fighting to lure these tenants, but their efforts could be in vain if companies decide to stay in their current locations, or move to existing office towers instead...

Developers in the area are also competing for tax benefits. A 15-year, 40 percent property tax reduction is being offered for the first 5 million square feet of office space to be built west of 10th Avenue. Related said last month that it will apply for the tax break for the South Tower, which would leave about 3.3 million square feet up for grabs. After the first 5 million, the tax break drops to 25 percent.

But some developers may hold off on construction until the neighborhood is more established and competition wanes. “We are waiting until rents get really attractive before we build,” said Ryan Nelson, senior vice president at Sherwood Equities. “Truthfully, it will probably be the next [construction] cycle.” For the time being, sources said asking rents for most of the new towers range from $80 to $90 per square foot.

This month, The Real Deal took an in-depth look at the new towers planned for the Far West Side, and how they’re faring in the race to nab tenants.

Manhattan West

Developer: Brookfield Office Properties

Size: North Tower, 2.2 million square feet; South Tower, 3.2 million square feet

Expected delivery: 2016 or 2017


Brookfield first announced the Manhattan West project more than five years ago during the real estate boom. Designed by Skidmore, Owings & Merrill, the project would also sit atop railroad tracks, requiring a platform to cover them.

Like many projects dreamed up back then, Manhattan West was halted during the downturn. Then in 2011, the plans were dusted off and reintroduced, with a cheaper platform that would be built more quickly. But after being on the market for nearly two years — longer than any other project except Related’s — Manhattan West still has not landed an anchor tenant. Furthermore, the towers have evolved from a commercial-only concept to one that could include residential as well.

Despite not having a tenant, Brookfield plans to begin construction of the $300 million platform in August, with completion set for October 2014, according to Bruce Mosler, chairman of global brokerage at Cushman & Wakefield. Mosler’s team was hired to market and lease Manhattan West.

Brookfield has largely finalized the design of the North Tower, but could build it or the larger South Tower first, or even both simultaneously, depending on the anchor tenants’ needs, Mosler said. “There are use groups we are talking to that would encompass one tower, and there are users we are talking to that would require us to build [both] towers” at the same time, Mosler said.

Real estate executives not involved with Brookfield’s project said Time Warner is looking closely at the two towers, as well as at Related’s project.

Mosler and Jeremiah Larkin, senior vice president and director of leasing at Brookfield, ticked off the advantages of the site, including the South Tower’s 90,000-square-foot floor plates, the largest of the six competing projects. Insiders also noted that the platform will be just 2.6 acres (compared to roughly 8.6 acres on Related’s site), so it will be easier to construct. “We have the best location,” Larkin said, noting the project is just a block from Penn Station.

But the tradeoff is that the project will receive tax breaks of only 25 percent, compared with the more generous 40 percent decrease for projects west of 10th Avenue. Mosler and Larkin would not reveal the asking rent, saying only that the rents would be “competitive.”


[...]
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Old May 6th, 2013, 09:23 PM   #824
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Wow, that is really much, the north Tower already has as much floor space as the HY North Tower.
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Old May 6th, 2013, 09:54 PM   #825
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Cool, so it is now proven, the South Tower really will have 3,2 millions. That's so cool
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Old May 6th, 2013, 10:55 PM   #826
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Cool, so it is now proven, the South Tower really will have 3,2 millions. That's so cool
damn, this thing will be gigantic
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Old May 6th, 2013, 11:05 PM   #827
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Not trying to be offensive. Just being blunt. And arent you from London?
Usually when it come to skyscrapers in NYC Roberts on point.
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Old May 6th, 2013, 11:59 PM   #828
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Wat other buildings have 3.2mil sq ft for comparison?
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Old May 7th, 2013, 12:16 AM   #829
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Wat other buildings have 3.2mil sq ft for comparison?
Metlife!
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Old May 7th, 2013, 12:19 AM   #830
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Originally Posted by 1Filipe1 View Post
Wat other buildings have 3.2mil sq ft for comparison?
The Zigeng Tower, formerly Nanjing Greenland Tower which is 1,476 ft tall with 3.2 m sft and it's a pretty wide tower with a pretty large base. Brookfield's tower would certainly be slimmer in the Yards, so it can be much much higher!
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Hudson Yards mega development Map: June 2015
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Old May 7th, 2013, 12:24 AM   #831
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Originally Posted by Funkyskunk2 View Post
Metlife!
gosh! i had no idea Metlife is that huge! It certainly is a very wide building.
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Old May 7th, 2013, 12:44 AM   #832
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55 Water Street has 3.5 mil square feet.
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Old May 7th, 2013, 12:49 AM   #833
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55 Water Street has 3.5 mil square feet.
oh yea lol.. That thing is a bohemuth!
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Old May 10th, 2013, 07:01 PM   #834
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could build it or the larger South Tower first, or even both simultaneously, depending on the anchor tenants’ needs, Mosler said.
That statement has me soiled!! lol. Amazing... 3.2 m sqft south tower. It's going to be as tall or taller than Hudson Yards North Tower!

Book it!

-- i just wanted to say it!
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Old May 11th, 2013, 12:24 PM   #835
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Brookfield has largely finalized the design of the North Tower, but could build it or the larger South Tower first, or even both simultaneously, depending on the anchor tenants’ needs, Mosler said. “There are use groups we are talking to that would encompass one tower, and there are users we are talking to that would require us to build [both] towers” at the same time, Mosler said.
Mosler definitely has a positive optimistic look at things, but I'll wait untill I see signings of tenants before I'll get carried away.
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Old May 11th, 2013, 02:16 PM   #836
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My mom is from England. I lived there for a while but was born in and have lived my whole life (but for 3.5 years) in NY.
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Old May 11th, 2013, 09:21 PM   #837
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Is that 90,000 sq ft floor plate for Brookfield's South Tower figure a typo? That is equivalent to 300 feet on a side.

They're not stating that all the floors might have such a floor plate, but if they did, the 3.2 million sq ft building would be only 35 floors high.
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Old May 12th, 2013, 02:40 AM   #838
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Is that 90,000 sq ft floor plate for Brookfield's South Tower figure a typo? That is equivalent to 300 feet on a side.

They're not stating that all the floors might have such a floor plate, but if they did, the 3.2 million sq ft building would be only 35 floors high.
Bear in mind that the floorPlates get smaller as the tower rises and tapers.

By the way, this Project is so underwhelming compared to the HY. Related is going absolutely over the top with landscaping, fOuntains, sculptures, retail, etc. Related's Project is a Rolls Royce, and Brookfield's is a mere Mercedes C-class.
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Old May 12th, 2013, 04:34 AM   #839
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They're now three tower, two of 60 floors and one of 57 according to SSP, might not see a supertall?
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Old May 12th, 2013, 04:35 AM   #840
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They're now three tower, two of 60 floors and one of 57 according to SSP, might not see a supertall?
there has been 3 towers for a while now
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