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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old March 1st, 2011, 12:54 PM   #141
HK999
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Brookfield Properties is optimistic that it will start construction within a year on a long-planned, two-tower office development to be built on a platform over the railyards at Ninth Avenue and 33rd Street.

"We are actively wrapping up our planning and will be in a position to begin deck construction late this year or early next," Ric Clark, Brookfield's chief executive, said in an email.
this is really good news. if everything goes by plan, we will see two tall towers rise by 2012 /13.
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Old March 1st, 2011, 01:21 PM   #142
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That is a nice surprise. I thought these towers were as good as dead.
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Old March 1st, 2011, 05:57 PM   #143
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Wow..That's great..That's more than enough of projects to watch in the next few years..
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Old March 1st, 2011, 06:02 PM   #144
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Lol , i thought theese ones are deader than dead. Very good news :-)
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Old March 1st, 2011, 07:02 PM   #145
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That's some good news for today.
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Old March 1st, 2011, 08:51 PM   #146
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WOW
Great news
And finally some towers at that end of the city which rival the EPSB in height
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Old March 2nd, 2011, 01:08 PM   #147
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the ESB will get more rivals: these towers, than 15 penn, the girasole and eventually tower verre.
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Old March 2nd, 2011, 09:36 PM   #148
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these news make me happy
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Old March 6th, 2011, 03:51 AM   #149
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O well I really hope this gets built since it looks well not dead any more
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Old March 6th, 2011, 05:57 AM   #150
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Something of at least 300m (and probably a lot taller) also will rise on the site of (or above) the funny looking building just west of this site. That site has enormous air rights (i.e., 2.6m sf!!!).



http://www.allbusiness.com/operation...4420052-1.html

Estate Sector Performance | Real Estate450 W. 33rd Street Sells for $700M
By Barbra Murray, Contributing Editor
Publication: Commercial Property News
Date: Thursday, February 8 2007

The 1.8 million-square-foot office building at 450 W. 33rd St. in New York City has just come under new ownership in a deal that marks the second largest office transaction of the year, to date. As reported by Lois Weiss in the New York Post, Broadway Partners snapped up the property from a group of investors headed up by Joseph Chetrit of the Chetrit Group for $700 million.

Real estate services firm Eastdil Secured marketed the property. Douglas Harmon, who handled the transaction, would not comment on the 450 W. 33rd St. transaction, but he did speak to CPN about the local office market. "The New York 'marquee monument movement' is in full force and effect," he said. "Today's $750 million dollar deal was yesterday's $200 million. Our real estate market has been thoroughly super-sized by a broad-based flood of domestic and international capital seeking the stability of hard assets."

Located near transportation in the West Side Rail Yards submarket, 450 W. 33rd St. spans an area from 31st St. to 33rd St. on a half-block between 9th and 10th Streets. The tower, formerly known as the John Hancock Building, has a basketball court that was once an ice skating rink. It is almost fully occupied by a roster of 20 tenants, with news organizationa accounting for a great deal of the square footage. The Associated Press occupies about 300,000 square feet in the building, WNET has 200,000 square feet, and the New York Daily News--published by Boston Properties chairman of the board Mortimer B. Zuckerman--calls the property home, too.

"The building is looked at as being a lower cost alternative to Midtown," an industry insider familiar with the transaction told CPN. "Investors were interested because the building has significantly below-market leases and it has very good credit tenants. It sold for approximately $430 per square foot. It was extremely cheap to get this kind of credit tenancy building in New York, and the area is going to be an improving market." In addition to the building's occupancy, 450 W. 33rd St. was also a desirable target for potential investors because it comes with air rights that would allow for the development of an additional 800,000 square feet.

Last edited by RobertWalpole; March 6th, 2011 at 06:03 AM.
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Old March 7th, 2011, 12:20 PM   #151
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That article is 4 years old
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Old March 7th, 2011, 02:27 PM   #152
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I'm aware of that. It was posted to demonstrate the 2.6m sf of space. You're quite funny.
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Old March 7th, 2011, 10:21 PM   #153
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I wasn't trying to be funny. I got wide eyed when I seen it. Then I realized I already read it. So I was disappointed.
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Old March 8th, 2011, 01:32 AM   #154
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Well it helped me, even if it is 4 years old.
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Old April 27th, 2011, 04:39 PM   #155
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http://www.nytimes.com/2011/04/27/bu...ites.html?_r=1

Square Feet
Projects Shelved in the Downturn Spring Back to Life
By JULIE SATOW
April 26, 2011

The developer Brookfield Office Properties shelved plans to build several office towers on a 5.4-million-square-foot property that runs from Ninth Avenue to Dyer Avenue, between West 31st and West 33rd Streets. But Brookfield did not ignore the project in the downturn.

Ric Clark is president and chief executive of Brookfield Office Properties, which plans to build office towers over the rail yards behind him along Ninth Avenue in Manhattan.

The developer spent the last several years studying the engineering of a deck over the rail yards on the site, and says it has found a way to build it cheaper and quicker. It will start construction later this year, with plans to deliver a two-million-square-foot office tower designed by Skidmore, Owings & Merrill on the northeast corner of the parcel by 2015. There are plans to eventually construct as many as three towers. “We will start building the deck on spec but are confident that by the time we get around to building the tower, we will have found an anchor tenant,” said Ric Clark, the president and chief executive. While he declined to give asking rents for the tower, Brookfield has begun preliminary conversations with tenants and expects to be competitively priced with the Hudson Yards buildings the Related Companies is planning a few blocks west.

As rents rebound and vacancies fall in the New York office market, some developers like Mr. Clark who shelved projects in the recession are resurrecting their plans. Several buildings are in the pipeline, and nearly 9.5 million square feet could become available over the next few years — in addition to several million more square feet at the World Trade Center in Lower Manhattan and the Hudson Yards.

A number of factors are driving the trend. Commercial rents are rising in certain submarkets and have held steady in others. Builders who believe the market has turned are preparing sites now in the hopes their projects will come online when higher rents are firmly established.

The city’s aging office stock is another factor. Nearly 83 percent of the office buildings in Manhattan were built more than three decades ago, according to the real estate company Cassidy Turley, and just 6.6 percent have been built since 1990. Many tenants, particularly law firms and financial services companies, crave new space that can be more efficient and tailored to their needs. Finally, construction costs could fall as union contracts begin expiring over the next few months and contractors push to exclude costly labor rules.

“A year ago people were saying the market was so bad they wouldn’t contemplate ground-up construction,” said John F. Powers, the chairman of the New York tri-state region for CB Richard Ellis. “But now, there is upward pressure on rents in some segments of the market, and certainly there is no more downward pressure, so developers are beginning to run pro formas again,” he said, referring to the method of estimating a project’s cost.

In the first quarter of this year there were 15 office leases in Midtown at rents above $90 a square foot, compared with 23 for all of 2010, according to Cushman & Wakefield. At the same time the vacancy rate in Midtown has dropped to 10.3 percent, compared with 12.6 percent at this time last year.

Tenants considering locking in new space now, before rents rise further, include Time Warner Inc., the financial services behemoth UBS and the law firm Mayer Brown. According to Cassidy Turley there are 446 tenants in the market chasing less than 28 million square feet of space.

Particularly well-poised are those developers who had begun preparing before the recession and can resume construction now at points further along. Pacolet Milliken Enterprises, the sister company of the textile firm Milliken & Company, demolished the building at 1045 Avenue of the Americas, a full block between West 39th and West 40th Streets, in 2009. The company has completed the schematic design for a 350,000-square-foot office building at the now-vacant lot, and has hired the Houston-based real estate firm Hines as a consultant.

“We feel very confident about the market and the location,” said Richard C. Webel, Pacolet Milliken’s president. He said the company had been speaking preliminarily with tenants, though it had not yet hired a broker. As for timing, “based on who we have talked to, the market should be there by 2015 or 2016, if not sooner,” Mr. Webel said.

Timing is critical as the market starts to revive, experts said. “The first buildings to be up and running will be most successful in grabbing an anchor tenant,” said Robert Sammons, the vice president for research services at Cassidy Turley.

Boston Properties is banking on this as it revives construction on a 1-million-square-foot office tower at 250 West 55th Street; building stopped in 2008 after the foundation was poured. Since it is partially built, it will be a relatively short time — mid-2014 — until Boston Properties can deliver the building to tenants. Already, it is in lease negotiations with the law firm Morrison Foerster as an anchor tenant.
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Old April 27th, 2011, 06:13 PM   #156
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Wow, I think its safe to say that New York will be considerably different in the next ten years. All those statistics are great to finally know, Thank You Robert...also i was wondering how you know about what each parcel of land has in terms of air rights? Seems like the holy grail for deciding where skyscrapers will end up.
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Old April 27th, 2011, 07:19 PM   #157
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Quote:
Originally Posted by hellrazor650 View Post
Wow, I think its safe to say that New York will be considerably different in the next ten years. All those statistics are great to finally know, Thank You Robert...also i was wondering how you know about what each parcel of land has in terms of air rights?...
My pleasure. There are websites like propertyshark.com that (for a fee) tell the public the air rights for each parcel.
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Old April 28th, 2011, 12:30 AM   #158
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Boston Properties is banking on this as it revives construction on a 1-million-square-foot office tower at 250 West 55th Street; building stopped in 2008 after the foundation was poured. Since it is partially built, it will be a relatively short time — mid-2014 — until Boston Properties can deliver the building to tenants. Already, it is in lease negotiations with the law firm Morrison Foerster as an anchor tenant.
Which tower is that?
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Old April 28th, 2011, 02:13 AM   #159
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It's a boring 40-story box that resembles NY's version of the 100 Bishopsgate which will be built in London.
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Old April 28th, 2011, 01:57 PM   #160
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from further away it reminds me of another supertall i think in shenyang
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