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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old June 2nd, 2014, 04:38 PM   #4061
droneriot
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4WTC looks like an empty grind of white metal bars. Like the observation tower they're planning on Taiwan.

I love it for its stealth effect, though. It's such a simple idea, yet the result is so unique.
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Old June 2nd, 2014, 10:19 PM   #4062
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Zuccotti presses for 3 WTC development
http://nypost.com/2014/06/01/zuccott...c-development/

Quote:
Brookfield Office Properties co-chairman John Zuccotti wants to see 3 World Trade Center built soon, even though it would create more competition for his own Brookfield Place complex.

While taking no position on the prolonged Port Authority-Larry Silverstein negotiation over financing the project, Zuccotti told us: “I certainly support long-term development of the World Trade Center site.”

Zuccotti, one of the city’s most respected real estate executives for more than 40 years, continued: “And, having 3 World Trade Center built takes a major step forward to generate the critical mass of street level retail and streetscape to continue to make the [whole] project successful.

“I know that 3 World Trade doesn’t finish it, but it’s a major step forward and a necessary step.”

Zuccotti also said he welcomes the competition that a fully built-out World Trade Center would mean for Brookfield Place, the former World Financial Center, where more than 1 million square feet remain available despite a recent giant lease-signing with Time Inc.

He likened the situation to the one in the far West 30s, where Brookfield’s Manhattan West is battling Related Cos.’ larger Hudson Yards complex for tenants. Hudson Yards has a head start with two towers under construction for users, including Coach Inc. and Time Warner.

“While we and [Related chief] Stephen Ross are competitors on the West Side, the success of each enhances the value of the other,” Zuccotti said. “It’s the same thing between us and Larry.”

Zuccotti offered no specific timetable or financing strategy for 3 World Trade Center. His remarks were necessarily guarded.

Publicly traded Brookfield has business with the PA. Also, it’s competing for tenants downtown not only with Silverstein but also with the PA and the Durst Organization, which own 1 World Trade Center.

Yet Zuccotti didn’t have to say anything at all. His perspective is strikingly different from those of certain developers who are trying to undercut Silverstein.

Perhaps it’s because Brookfield Place, where a $250 million redesign is ongoing, has enough work to do filling offices and a new retail portion without having an unfinished Ground Zero construction site indefinitely on its doorstep.

But just as likely, it’s because Zuccotti, who’s seen it all, knows that development needn’t be a zero-sum game — and that what’s good for one project can be just as good for one next door.
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Old June 2nd, 2014, 10:23 PM   #4063
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Wise words to hear from a competitor. Getting the WTC done will certainly benefit to leasing at Brookfield Place. Who knows, maybe Brookfield could take a partial ownership stake in 3 WTC to help finish it up?
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Old June 2nd, 2014, 11:07 PM   #4064
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Silverstein should have formed a REIT long ago for his properties. The guy isn't getting any younger...
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Old June 3rd, 2014, 12:08 AM   #4065
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good analysis by Zucotti.

Quote:
having 3 World Trade Center built takes a major step forward to generate the critical mass of street level retail and streetscape to continue to make the [whole] project successful.
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Old June 3rd, 2014, 12:10 AM   #4066
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Rafters and purlins by Otie OD, on Flickr

Glass and weather by Otie OD, on Flickr

The bird's covering by Otie OD, on Flickr

3 WTC and 4 WTC by Otie OD, on Flickr
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Old June 3rd, 2014, 03:02 AM   #4067
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gorgeous....
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Old June 3rd, 2014, 04:47 AM   #4068
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With the lattices it would have been even more impressive but the glass cladding like WTC4 is gorgeous, hopefully will at least keep its distinctive top.
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Old June 3rd, 2014, 05:47 AM   #4069
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It definitely will.
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Old June 3rd, 2014, 05:31 PM   #4070
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Quote:
Originally Posted by Vertical_Gotham View Post
Zuccotti presses for 3 WTC development
Thank heavens we have the perfect foil for Durst; Zuccotti really hits the nail on the head here! He is the embodiment of prescient investment, and I absolutely agree with him on all counts.
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Old June 3rd, 2014, 05:43 PM   #4071
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Otie, that anti-aliasing is INSANE! These models look even better than those of the honorable STR, and his were damn good.
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Old June 4th, 2014, 09:33 PM   #4072
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another set of masterpieces by Otie. Much appreciated.
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Old June 10th, 2014, 03:11 PM   #4073
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[IMG]http://oi60.************/2l948cg.jpg[/IMG]
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Old June 11th, 2014, 06:33 AM   #4074
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Welp, no recent news in terms of Larry landing a deal with a private financer lately... Not too much longer until GroupM can back out, so they better hurry up or else this tower is screwed.
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Old June 11th, 2014, 06:45 AM   #4075
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Quote:
Originally Posted by weidncol View Post
Welp, no recent news in terms of Larry landing a deal with a private financer lately... Not too much longer until GroupM can back out, so they better hurry up or else this tower is screwed.
screwed? no. On hold? yes. Luckily Silverstein has other side projects for us to watch rise in the meantime, in the red hot residential field. 514 11th Avenue might even end up yielding another supertall for Silverstein's portfolio.
I wonder if the mysterious surprise residential tower which a certain contributor hinted at us is actually 514 11th avenue.
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Old June 11th, 2014, 09:06 PM   #4076
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http://www.crainsnewyork.com/article...wn-office-glut

Conversions deflate downtown office glut
Fears that acres of new commercial space hitting the market at the World Trade Center site will swamp the market are outweighed
by a surge in developers turning office space into apartments and hotel rooms, according to a new report.


Daniel Geiger
June 10, 2014

Quote:
Concerns about an oversupply of office space downtown are exaggerated, according to a new report. Despite all the new space hitting the market in the new towers at the World Trade Center site, the Alliance for Downtown New York notes that a huge amount of office space continues to be taken off the market and converted to residential and hotel use.

In fact, the downtown booster group found that 10 million square feet of office space has been converted over to residential or hotel use since 2004, and another 5.1 million square feet of space is either in the process or in the planning stages of being similarly repurposed.

"We are converting office space at a much faster clip than we realize," said Jessica Lappin, the president of the Alliance for Downtown. "It underlines that we do not have a glut of office space."


The question of whether there is too much office space in lower Manhattan has been thrust into the spotlight in recent weeks as World Trade Center developer Larry Silverstein and the Port Authority of New York and New Jersey, which owns the World Trade Center site, have tried to forge a plan to help finance a third office tower at the site, 3 World Trade Center.

The Port Authority backed away from an initial plan to provide a $1.2 billion guarantee that would permit construction of that 2.5 million square foot tower after criticism mounted against it, in part because millions of square feet sit empty at neighboring towers 1 and 4 World Trade Center.

The Alliance for Downtown's data would appear to show there's more than enough room for more square feet given the amount of office space that has been removed.

"In our view, to be a world class city, you can't rest on your laurels," Ms. Lappin said. "The World Trade Center site is modern fantastic new space and we need it."
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Old June 11th, 2014, 09:47 PM   #4077
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Quote:
Originally Posted by weidncol View Post
http://www.crainsnewyork.com/article...wn-office-glut

Conversions deflate downtown office glut
Fears that acres of new commercial space hitting the market at the World Trade Center site will swamp the market are outweighed
by a surge in developers turning office space into apartments and hotel rooms, according to a new report.


Daniel Geiger
June 10, 2014
You guys at the PA... YOU READING THIS???????????? Work with Silverstein, enough with the stupid titters about fearing it can't get rented and you'll be stuck with it... you only have a couple of weeks to make the deal for funding or the Group M deal falls apart.... SO GET MOVING NOW!!!
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Old June 12th, 2014, 12:56 AM   #4078
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The PA needs to finish the complex and then completely get out of the real estate biz. It's things like this article below "The Bayonne Gate" that has put the PA and the whole WTC complex in such a predicament in the first place.

Christie uses shady land deal to raid Port Authority piggy bank:
http://www.nj.com/opinion/index.ssf/...editorial.html
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Old June 12th, 2014, 01:11 AM   #4079
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Revenge Of New York?

BNY Mellon leans toward New York in planned move



Quote:
New York and New Jersey are vying for BNY Mellon’s new headquarters with offers of tax credits and other incentives. And, for the moment, it appears New York has the edge.

No victor has yet been determined and officials on both sides declined to discuss the negotiations with the New York Times. Still, New Jersey Governor has offered up nearly $100 million worth of tax credits in attempt to lure the bank across the Hudson to Jersey City.

The bank, following the sale of its longtime headquarters at 1 Wall Street to a venture led by Harry Macklowe for as much as $600 million, is reportedly eyeing a new spot in the 2.7 million-square-foot tower at 225 Liberty Street in Lower Manhattan, as well as one in a 410,000-square-foot waterfront building at 70 Hudson Street in Jersey City.
If Brookfield can nab BNY Mellon, that tightens things up nicely in the neighborhood ahead of a 3WTC push...
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Old June 12th, 2014, 01:51 PM   #4080
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Worst case would be that they leave and this neighborhood ends up with more vacant office space.
Would be cool if they move into 3WTC.
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