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Old May 10th, 2010, 10:41 PM   #241
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Quote:
Originally Posted by HK999 View Post
the thing is i'm missing a construction crane. there should be at least one, it's about time.
Yes..When we'll see tower crane then we'll b sure it's risin'..
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Old May 11th, 2010, 02:36 AM   #242
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Supposedly, this is the site of the other tower by the same developer near to this one.

image hosted on flickr

KZNY2CZ

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Old May 23rd, 2010, 10:47 PM   #243
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Posted by Sandy on SSP, April 2010.








From April 2009,
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Old May 24th, 2010, 07:37 AM   #244
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So nice of them to have installed a swimming pool in the basement.
I think they have an algae problem in the water....lol

Very good to see this building starting to rise!
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Old May 24th, 2010, 08:46 PM   #245
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Yes indeed, this is quite a wonderful thing. It's a pity we don't even know what it will look like. Construction seems to be moving along nicely.
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Old May 24th, 2010, 08:52 PM   #246
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it took a whole year to dig a hole nice job guys now what let's build a bodega
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Old May 25th, 2010, 02:42 AM   #247
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Tell me these shots were taken on a Sunday right before the Superball kickoff or something. Why does the site look alarmingly clean and devoid of human presence?
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Old May 25th, 2010, 07:36 AM   #248
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They don't have construction financing yet.
Read the thread over at SSP to see what's going on.
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Old May 25th, 2010, 07:40 AM   #249
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Quote:
Originally Posted by xXFallenXx View Post
They don't have construction financing yet.
Read the thread over at SSP to see what's going on.
The people propogating this rumour at SSP are (respectfully) wrong. Al-Arabar provided construction financing. Comments on SSP are based on what appears to be an erroneous comment in a news article which was not attributed to the developer.

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Old May 26th, 2010, 07:09 AM   #250
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http://www.nytimes.com/2010/05/26/ny...6building.html

Building a Tower of Luxury Apartments in Midtown as Brokers Cross Their Fingers
By CHARLES V. BAGLI
Published: May 25, 2010
Gary Barnett, one of New York City’s most prolific developers, is about to start construction of a $1.3 billion skyscraper on 57th Street that will overtake Trump World Tower as the tallest residential building in the city.

The tower, designed by the French architect Christian de Portzamparc, will rise 1,005 feet above 57th Street east of Seventh Avenue, feature striking views of Central Park and house what Mr. Barnett hopes will be 136 of the most expensive and luxurious apartments in the city. A 210-room Park Hyatt hotel is to occupy the first 20 floors, hotel analysts say.

“We’re going vertical in the next three weeks,” said Mr. Barnett, chief executive of Extell Development. Sounding a little like the developer he is one-upping, he said, “We think it’ll be the nicest project ever built in New York.”
The project is the first major construction start in New York since the fall of Lehman Brothers in September 2008, and it is an ambitious, even risky undertaking. Unemployment still hovers at 10 percent in the city, which has only just begun to gain back some of the 150,000 jobs lost during the recession. Not so long ago, the real estate industry was right behind Wall Street and the nation’s automakers in crying for a federal bailout.

But Mr. Barnett and other real estate executives now say they are seeing signs of life, despite a sluggish economy, fears that the European debt crisis will drag down the stock market and a list of stalled residential projects in New York that runs 500 buildings long.

Apartment prices and office rents have bottomed out, and landlords are having to offer fewer concessions, real estate executives say. Foreign investors are back, and wealthy people are buying property again. Tourists continue to pour into the city. Retailing is relatively strong, and hotel occupancy and rates are picking up.

Hersha Hospitality Trust has bought four Manhattan hotels since January for $200 million. In recent months, SL Green, the city’s biggest commercial landlord, bought two office towers for a total of more than $500 million. And three developers are vying for a minority stake in 1 World Trade Center, which, upon its completion (scheduled for 2013), will be the city’s tallest skyscraper.

All these tentative signs of recovery could be extinguished by another downturn. But many are poised like sprinters for the starting gun on the next real estate bull market.

“There’s a lot more activity,” said Stephen M. Ross, chief executive of Related Companies, a prominent developer. “It’s not doom and gloom anymore.”

Mr. Barnett said his project would be completed in 2013, in time for what he expects will be a booming market. The foundation for his tower, which will stand opposite Carnegie Hall and be called Carnegie 57, is complete.

With banks still largely unwilling to lend money for large projects, Mr. Barnett went to Abu Dhabi for partners and financing. The Tasameem Real Estate Company, controlled by the government, bought a stake in the project two years ago. More recently, a related company, Aabar Investment, agreed to provide financing. By the time the tower opens, Mr. Barnett said, there should be a “dearth” of spacious ultraluxury condominiums. It will loom nearly 500 feet over the Essex House and its rooftop neon sign, giving residents panoramic views.

He said the apartments should command prices comparable to or better than those at 15 Central Park West, a celebrity magnet that has attracted the likes of Sting and Alex Rodriguez and where apartments sell for $6,500 a square foot and more.

“If you can find the money, it’s a great time to be in development,” Mr. Barnett said. “We’re not back to the highs of 2007 yet, but we see things picking up substantially.”

Currently, Extell is building or completing five residential buildings on the West and East Sides with a total of 924 apartments. The company also plans to build a 54-story, 487-room hotel on West 45th Street, near Avenue of the Americas, but his 34-story Gem Tower, which is to house dealers in the Diamond District, has come to a temporary halt.

Jonathan J. Miller, president of the appraisal firm Miller Samuel, called Mr. Barnett’s latest project “pretty gutsy.” Apartment prices leveled off last year, after falling by 25 percent to 30 percent, he said. The anemic market for the highest priced units has recently awakened, but mainly because those units have become more affordable. That could make a tall order out of Mr. Barnett’s goal.

Three years from now, Mr. Miller said, developers and landlords may still be wrestling with an estimated 20,000 rental apartments and condominiums in buildings where construction or sales stopped in the past two years.

“I think things will be better than they are now,” he said, “but I don’t know how much better. I don’t think we’re in recovery mode.”

Still, many brokers and developers take heart from the fact that apartment buyers are back in the market. Pam Liebman, president of the Corcoran Group, said the number of apartments under contract jumped 81 percent in the first quarter of this year, compared with the same period in 2009; it was lower, however, than during the peak in 2007.

In an industry where many believe that perception is reality, landlords, developers and real estate investors are now “up-talking” a market that they had been “down-talking” a year ago, as if a turnaround could be prompted by sheer force of will.

“There’s a palpable optimism in the market right now,” said Robert A. Knakal of Massey Knakal Realty Services, a real estate sales broker.

No private developer is going to start building a speculative office tower anytime soon, but landlords and developers say the Midtown market is on the verge of a turnaround, even though the office vacancy rate is a daunting 14 percent. Effective rents, which had fallen by as much as 45 percent, are now inching upward, at least for first-class space, and concessions are shrinking.

Also, there are few large blocks of vacant space available in Midtown. And, brokers say, Morgan Stanley, UBS, Bank of New York Mellon and Société Générale are each looking for at least 400,000 square feet. This is interpreted as a sign of confidence in the future, since banks and other corporations were fearful of making commitments a year ago.

“We believe that the New York City commercial office market is finally turning the corner after a few difficult years,” Marc Holliday, chief executive of SL Green, said this month after the company added two office buildings to its portfolio.

Mr. Barnett said nothing short of a catastrophe would stop his project. “We believe in New York City,” he said. “People are always going to want to live here.”

Last edited by RobertWalpole; May 26th, 2010 at 07:28 AM.
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Old May 26th, 2010, 12:46 PM   #251
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Quote:
The tower, designed by the French architect Christian de Portzamparc, will rise 1,005 feet above 57th Street.
nice, the height is yet again confirmed.

Quote:
“We’re going vertical in the next three weeks,” said Mr. Barnett, chief executive of Extell Development. Sounding a little like the developer he is one-upping, he said, “We think it’ll be the nicest project ever built in New York.”
thank god, it's about time. i really want to see some steel shooting up! and again so many promises about this tower, hopefully barnett can keep them.

Quote:
Mr. Barnett said his project would be completed in 2013, in time for what he expects will be a booming market. The foundation for his tower, which will stand opposite Carnegie Hall and be called Carnegie 57, is complete.
interesting, so this tower is officially called Carnegie 57 now. we'll have to choose an appropriate thread title:
157 West 57th Street or Carnegie 57 !

Quote:
With banks still largely unwilling to lend money for large projects, Mr. Barnett went to Abu Dhabi for partners and financing. The Tasameem Real Estate Company, controlled by the government, bought a stake in the project two years ago. More recently, a related company, Aabar Investment, agreed to provide financing.
yes! financing seems to be secured.

a few pics from SSP, posted by RoldanTTLB:









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Old May 26th, 2010, 03:47 PM   #252
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Image from today's issue of The New York Times.
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Old May 26th, 2010, 04:59 PM   #253
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Building a Tower of Luxury Apartments in Midtown as Brokers Cross Their Fingers
By CHARLES V. BAGLI
Published: May 25, 2010



Gary Barnett, one of New York City’s most prolific developers, is about to start construction of a $1.3 billion skyscraper on 57th Street that will overtake Trump World Tower as the tallest residential building in the city.

The tower, designed by the French architect Christian de Portzamparc, will rise 1,005 feet above 57th Street east of Seventh Avenue, feature striking views of Central Park and house what Mr. Barnett hopes will be 136 of the most expensive and luxurious apartments in the city. A 210-room Park Hyatt hotel is to occupy the first 20 floors, hotel analysts say.

“We’re going vertical in the next three weeks,” said Mr. Barnett, chief executive of Extell Development. Sounding a little like the developer he is one-upping, he said, “We think it’ll be the nicest project ever built in New York.”

The project is the first major construction start in New York since the fall of Lehman Brothers in September 2008, and it is an ambitious, even risky undertaking. Unemployment still hovers at 10 percent in the city, which has only just begun to gain back some of the 150,000 jobs lost during the recession. Not so long ago, the real estate industry was right behind Wall Street and the nation’s automakers in crying for a federal bailout.

But Mr. Barnett and other real estate executives now say they are seeing signs of life, despite a sluggish economy, fears that the European debt crisis will drag down the stock market and a list of stalled residential projects in New York that runs 500 buildings long.

Apartment prices and office rents have bottomed out, and landlords are having to offer fewer concessions, real estate executives say. Foreign investors are back, and wealthy people are buying property again. Tourists continue to pour into the city. Retailing is relatively strong, and hotel occupancy and rates are picking up.

Hersha Hospitality Trust has bought four Manhattan hotels since January for $200 million. In recent months, SL Green, the city’s biggest commercial landlord, bought two office towers for a total of more than $500 million. And three developers are vying for a minority stake in 1 World Trade Center, which, upon its completion (scheduled for 2013), will be the city’s tallest skyscraper.

All these tentative signs of recovery could be extinguished by another downturn. But many are poised like sprinters for the starting gun on the next real estate bull market.

“There’s a lot more activity,” said Stephen M. Ross, chief executive of Related Companies, a prominent developer. “It’s not doom and gloom anymore.”

Mr. Barnett said his project would be completed in 2013, in time for what he expects will be a booming market. The foundation for his tower, which will stand opposite Carnegie Hall and be called Carnegie 57, is complete.

With banks still largely unwilling to lend money for large projects, Mr. Barnett went to Abu Dhabi for partners and financing. The Tasameem Real Estate Company, controlled by the government, bought a stake in the project two years ago. More recently, a related company, Aabar Investment, agreed to provide financing.

By the time the tower opens, Mr. Barnett said, there should be a “dearth” of spacious ultraluxury condominiums. It will loom nearly 500 feet over the Essex House and its rooftop neon sign, giving residents panoramic views.

He said the apartments should command prices comparable to or better than those at 15 Central Park West, a celebrity magnet that has attracted the likes of Sting and Alex Rodriguez and where apartments sell for $6,500 a square foot and more.

“If you can find the money, it’s a great time to be in development,” Mr. Barnett said. “We’re not back to the highs of 2007 yet, but we see things picking up substantially.”

Currently, Extell is building or completing five residential buildings on the West and East Sides with a total of 924 apartments. The company also plans to build a 54-story, 487-room hotel on West 45th Street, near Avenue of the Americas, but his 34-story Gem Tower, which is to house dealers in the Diamond District, has come to a temporary halt.

Jonathan J. Miller, president of the appraisal firm Miller Samuel, called Mr. Barnett’s latest project “pretty gutsy.” Apartment prices leveled off last year, after falling by 25 percent to 30 percent, he said. The anemic market for the highest priced units has recently awakened, but mainly because those units have become more affordable. That could make a tall order out of Mr. Barnett’s goal.

Three years from now, Mr. Miller said, developers and landlords may still be wrestling with an estimated 20,000 rental apartments and condominiums in buildings where construction or sales stopped in the past two years.

“I think things will be better than they are now,” he said, “but I don’t know how much better. I don’t think we’re in recovery mode.”

Still, many brokers and developers take heart from the fact that apartment buyers are back in the market. Pam Liebman, president of the Corcoran Group, said the number of apartments under contract jumped 81 percent in the first quarter of this year, compared with the same period in 2009; it was lower, however, than during the peak in 2007.

In an industry where many believe that perception is reality, landlords, developers and real estate investors are now “up-talking” a market that they had been “down-talking” a year ago, as if a turnaround could be prompted by sheer force of will.

“There’s a palpable optimism in the market right now,” said Robert A. Knakal of Massey Knakal Realty Services, a real estate sales broker.

No private developer is going to start building a speculative office tower anytime soon, but landlords and developers say the Midtown market is on the verge of a turnaround, even though the office vacancy rate is a daunting 14 percent. Effective rents, which had fallen by as much as 45 percent, are now inching upward, at least for first-class space, and concessions are shrinking.

Also, there are few large blocks of vacant space available in Midtown. And, brokers say, Morgan Stanley, UBS, Bank of New York Mellon and Société Générale are each looking for at least 400,000 square feet. This is interpreted as a sign of confidence in the future, since banks and other corporations were fearful of making commitments a year ago.

“We believe that the New York City commercial office market is finally turning the corner after a few difficult years,” Marc Holliday, chief executive of SL Green, said this month after the company added two office buildings to its portfolio.

Mr. Barnett said nothing short of a catastrophe would stop his project. “We believe in New York City,” he said. “People are always going to want to live here.”

http://www.nytimes.com/2010/05/26/ny...lding.html?hpw
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Old May 26th, 2010, 05:10 PM   #254
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That looks promising.
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Old May 26th, 2010, 05:48 PM   #255
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at least one rendering! still, i need more to see, i.e. how the building works with the skyline and how it looks from different angles. for now i'm not disappointed but not very happy either.

from curbed.com

http://ny.curbed.com/archives/2010/0...y_revealed.php

Quote:
Maverick developer Gary Barnett is finally opening up about his 1,005-foot-tall Park Hyatt hotel and "ultraluxury" condo building on 57th Street across the street from Carnegie Hall. He tells the NYT's Charles Bagli that the tower, designed by French starchitect Christian de Portzamparc and slated to pass the Trump World Tower as the tallest residential building in the city, will be called Carnegie 57. Oh, and hardcore construction will begin in just three weeks, with the finishing touches expected 2013, when Barnett foresees a much stronger housing market that will quickly snap up apartments priced in the 15 Central Park West realm. You know what that means: Since A-Rod swaps apartments like companions, expect him to bat cleanup in the building's residents' directory.
Get ready for the city's next megapenthouse. >>

The foundation is already poured for the formerly secretive project, which is being partly funded by investors in the Middle East. Previous reports have said the building turns residential above the 20th floor, and the penthouse duplex will be on floors 71 and 72 (though the elevator will go up to a 75th-floor roof above some mechanicals). It's the biggest residential project to break ground since the downturn, and Barnett knows it's risky business. Still, he expects there will be a "dearth" of super high-end product by the time this glassy bad boy is dominating the southern view from Central Park (and looming over the Essex House's rooftop signage). Gut reactions, anyone?
we should change the title to "Carnegie 57".
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Old May 26th, 2010, 07:21 PM   #256
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Reminds me of the first render for the 123 Washington st building




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http://www.skyscrapercity.com/showthread.php?t=633246
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Old May 26th, 2010, 07:44 PM   #257
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It doesnt looks very good from street up.
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Old May 26th, 2010, 08:56 PM   #258
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It is hard to say, but right now the design looks a little boring. Either way, it is nice to see that it is a go and to see at least some render.
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Old May 26th, 2010, 09:06 PM   #259
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no wonder they had it under raps they know someone would try to kill it nothing you can do now
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Old May 26th, 2010, 09:11 PM   #260
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At first sight not bad, but definately not as refreshing as I expected. Maybe I got my hope up too much due to the long waiting... Anyway, every 300+ is more than welcome.
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