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Old July 10th, 2011, 06:28 PM   #621
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Quote:
Originally Posted by Kanto

I 100% agree with you. I think they should make it at least 421m tall. This way it would have a more conventional shape
Agreed as well, is there a significance in the height 421m? just wondering.
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Old July 10th, 2011, 08:03 PM   #622
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Agreed as well, is there a significance in the height 421m? just wondering.
Yup, there is. That height would make it the tallest building in NY by roof height. I think such a title could be beneficial for tenant harvesting.
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Old July 10th, 2011, 08:18 PM   #623
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Quote:
Originally Posted by Kanto

Yup, there is. That height would make it the tallest building in NY by roof height. I think such a title could be beneficial for tenant harvesting.
The roof height of wtc is supposed to be 417 I believe. sooo.... It would be by a few meters. I say cmon NY we want something new to look at through those little 25 cent binocular things. Esb is a beauty but it's as old as my grandpa.

And yes it's not like this building would have any problems finding a tenant so why not build away? (and maybe add 50m or so to the proposed plan for extra publicity)
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Old July 10th, 2011, 08:40 PM   #624
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Publicity is always good for a building. Publicity attracts possible tenants. Now the new WTC is gonna be class A office space iirc. I think 15 Penn might want to create class B office space, because with the new WTC there'll be plenty class A space to offer. If 15 Penn would focus for class A, it'll take years, maybe even a decade before construction starts. On the other hand if it'll focus on other office space classes, it might be built sooner.

All of this is of course only speculative. I don't have any info about how much of office space is currently offered for the various classes, so anybody please feel free to correct me.
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Old July 10th, 2011, 09:22 PM   #625
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Well, whatever it takes to appeal to office needy corporations. I hope vornado realty hits it off soon
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Old July 11th, 2011, 06:29 PM   #626
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Quote:
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Now the new WTC is gonna be class A office space iirc. I think 15 Penn might want to create class B office space, because with the new WTC there'll be plenty class A space to offer.
It doen't exactly work like that for a prime location (basically anywhere in Manhattan) in a city like NY. Anything being built that is tall enough for us to notice on this forum is shooting for class A.

Also, even if a developer were to build a class B super-tall it wouldn't make sense. If A is only going for $75 sqft, then B would be going for substantially less making it even harder to get the project off the ground. Air rights are way too valuable for a developer to waste on class B.

If you look at most of the big shiny buildings built in the last decade in China (My experience is specific to Beijing) the bulk of them would be what we consider class B finishes. They look great from afar, but are super cheap on the inside. We don't really do that in the US when we build skyscrapers. We usually build as class A and then downgrade the building to Class B as it ages and newer class A comes online.
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Old July 11th, 2011, 06:55 PM   #627
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Well said Eddie. There is huge demand for Class A space in Manhattan, as not much has been built in the past 20-30 years. There are tons of articles I could post about huge companies, like TWC, Citi, obviously UBS, BofA, Wells Fargo, Morgan Stanley, a handful of law firms, and many many others all looking at either consolidating existing space in Manhattan, or opening new offices. None of those companies want Class B.


This will be built as Class A space, and if I were a betting man I'd bet that Morgan Stanley moves in here. And Kanto it will not take a decade to build this, I would not be surprised to see them land a tenant by the end of the year.
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Old July 11th, 2011, 10:34 PM   #628
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Thank you folks for making it clearer to me. I'm not experienced in this field so I always appreciate if somebody more experienced responds

I'd love to see this building rise asap. If there's much demand for class A space, it's good. I have 2 questions I'd like to ask:

1, Will this tower be office or mixed use?

2, yankeesfan said that BofA is searching for A space, but didn't it get all the space it needs with the construction of the BofA tower in NY?
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Old July 12th, 2011, 03:06 AM   #629
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No problem, and this will be pure office. There are two variations however, one where the tower sits basically in the middle of lot on a large base which contains street level retail and then trading floors. The second option has the same base as the first one, so street level retail and trading floors, but the tower is on the Western part of lot instead of the middle, so the tower will sit directly on 7th Avenue and will rise the rest of the way up. Again, the first option will still be 1216 ft tall, but there will be a small set back from the base after say 6 floors, then the tower will rise the rest of the height.

In regards to which option actually gets built, depends on whether or not the developer, Vornado secures a single tenant for the whole building, or multiple tenants. Off the top of my head I can't recall which option fits with what scenario, but I'd prefer to have the second option personally.

In regard to the BofA comment I made, I might have confused them for Wells Fargo now that I think of it, I know Wells Fargo is looking for space in Manhattan, as is L'oreal, Coach, Credit Suisse, Morgan Stanley, in addition to a number of law firms I can never remember the names of and the handful I mentioned previously.

But a lot of these huge banks are constantly reevaluating their space in Manhattan. BofA Tower is a decent sized building, but I have a very hard time believing that that is all of their space in Manhattan. I have a friend who works for Citi and says they have more offices in Manhattan than he can count, so it wouldn't surprise me BofA was looking to consolidate some of their other offices into a single space.
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Old July 12th, 2011, 05:33 AM   #630
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It may sound communist but:

One definite con of free enterprise is the difficulty to foresee the precise demands of private corporations as far as office space and office class. where in places like china it is all organized by a workers party.

Nonetheless there are plenty more pros to outweigh the good of capitalism over communism
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Old July 12th, 2011, 06:30 AM   #631
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Quote:
Originally Posted by yankeesfan1000 View Post

In regard to the BofA comment I made, I might have confused them for Wells Fargo now that I think of it, I know Wells Fargo is looking for space in Manhattan, as is L'oreal, Coach, Credit Suisse, Morgan Stanley, in addition to a number of law firms I can never remember the names of and the handful I mentioned previously.

But a lot of these huge banks are constantly reevaluating their space in Manhattan. BofA Tower is a decent sized building, but I have a very hard time believing that that is all of their space in Manhattan. I have a friend who works for Citi and says they have more offices in Manhattan than he can count, so it wouldn't surprise me BofA was looking to consolidate some of their other offices into a single space.
Bank of America currently leases about half (4.6 million sq ft of 8 million total) of the World Financial Center (mostly in 2 and 4WFC) through 2013. It acquired most of that when it bought Merril Lynch. But it's reportedly going to leave and only keep about 750,000 sq ft. But word is they'll likely be consolidating most of their operations. So they'll likely not be looking for 3.85 million sq ft elsewhere. But hopefully 1-2 million sq ft (or more) will be sought elsewhere.

The downside is this makes a lot of space available in the WFC for new tenants. And those buildings will be undergoing a massive remodeling. Same applies to other buildings where tenants leave (i.e. 4 Times Square, soon to be the former home of Conde Nast). 4 Times Sq and the WFC may not be the latest and greatest trophy towers. But they're hardly obsolete. But all you really need is that one big tenant to anchor 15 Penn or 2 or 3WTC to get them built.

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Old July 12th, 2011, 12:52 PM   #632
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I'd have another question. Are Times Sq. and the WFC still considered class A space?
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Old July 12th, 2011, 04:29 PM   #633
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Thanks for that spectre, I know Merryl also has a nice building in Midtown on 56th and 5th, or Madison.

And I wouldn't consider either 4 TS or the WFC Class A space.
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Old July 12th, 2011, 05:19 PM   #634
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Thanks for that spectre, I know Merryl also has a nice building in Midtown on 56th and 5th, or Madison.

And I wouldn't consider either 4 TS or the WFC Class A space.
4 TS and WFC are definitely Class A.
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Old July 13th, 2011, 05:26 AM   #635
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They should take some landfill and extend the WFC. That way WFC can build a supertall. I wouldn't mind getting a look at that lol.
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Last edited by kingsc; July 14th, 2011 at 12:47 AM.
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Old July 13th, 2011, 12:19 PM   #636
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They should take some landfill and extend the WFC. That why WFC can build a supertall. I wouldn't mind getting a look at that lol.
That sounds interesting. Could you tell me which place you have in mind?

[IMG]http://i53.************/n35kr7.jpg[/IMG]
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Old July 13th, 2011, 12:23 PM   #637
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I like it better than the WTC-towers..
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Old July 13th, 2011, 05:34 PM   #638
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ae galera, afim de um super jogo de futebol, igulzinho brasfoot e online, e os melhores ganharão premios:

http://www.futmanager.com/futebol-online/realyon.html

ta ai emcima o link para cadastro...mto bom o jogo eu aprovo!!
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Old July 14th, 2011, 12:45 AM   #639
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Quote:
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That sounds interesting. Could you tell me which place you have in mind?

[IMG]http://i53.************/n35kr7.jpg[/IMG]
Between 1 and 2 WFC.
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Last edited by kingsc; July 14th, 2011 at 02:57 AM.
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Old July 14th, 2011, 01:19 AM   #640
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^Lol, a part of the WFC inside the WTC, that's a funny idea XD

But to be serious, the Performing Arts Center is located between 1 and 2WTC
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