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Old February 22nd, 2011, 07:23 AM   #921
diablo1
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Quote:
Originally Posted by RobertWalpole View Post
I don't think that $4/k is agressive at all. It's very realistic.
Could you provide your logic? Thanks.
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Old February 22nd, 2011, 07:41 AM   #922
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Quote:
Originally Posted by diablo1 View Post
Could you provide your logic? Thanks.
$4K/SF is the going rate for new high-end construction in this area. Wall Street is booming and with a low dollar vis-a-vis other currencies, there will be big demand for this property. The other similar properties that will rise include:

Torre Verre
The Drake
225 W 57th
220 Central Park South.

However, this building will open at least a year and a half ahead of them. These five buildings will add a maximum of 700 apartments to a booming market with very high demand.

Last edited by RobertWalpole; February 22nd, 2011 at 07:49 AM.
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Old February 22nd, 2011, 08:20 AM   #923
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Quote:
Originally Posted by RobertWalpole View Post
$4K/SF is the going rate for new high-end construction in this area. Wall Street is booming and with a low dollar vis-a-vis other currencies, there will be big demand for this property. The other similar properties that will rise include:

Torre Verre
The Drake
225 W 57th
220 Central Park South.

However, this building will open at least a year and a half ahead of them. These five buildings will add a maximum of 700 apartments to a booming market with very high demand.
Which existing buildings in this neighborhood do you consider high end? The Centurion is priced at around $2600/sf, as is the Park Imperial. Metropolitan Tower is an older glass high-rise in the area and currently sells around $1700/sf. Ditto Museum Tower. I'm just wondering where this $4,000 figure is coming from. Appreciate your feedback!
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Old February 22nd, 2011, 03:34 PM   #924
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THe Centurion is a low-rise building on a lousy street with no park views. Met Tower is old.

Where do you live? You don't seem to know a lot about NY real estate. (That's not a contentious statement. It's just my opinion, so no offense.)
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Old February 22nd, 2011, 06:03 PM   #925
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I really thought 4k sf was damn cheap. To live a cross the street from central park.
For those who don't know the cost of living in Manhattan. $100 thousand in rent per month is cheap.
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Old February 22nd, 2011, 07:47 PM   #926
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Quote:
Originally Posted by RobertWalpole View Post
THe Centurion is a low-rise building on a lousy street with no park views. Met Tower is old.

Where do you live? You don't seem to know a lot about NY real estate. (That's not a contentious statement. It's just my opinion, so no offense.)
I live in New York City, and would say that I know a decent amount about real estate here, so no offense taken. Where do you live?

If you could answer my question as to where your statement that "$4k/SF is the going rate" comes from, that would be great. Thank you, sir.
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Old February 22nd, 2011, 07:50 PM   #927
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Quote:
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I really thought 4k sf was damn cheap. To live a cross the street from central park.
The building is a block away from Central Park. Not across the street.
Quote:
Originally Posted by kingsc View Post
For those who don't know the cost of living in Manhattan. $100 thousand in rent per month is cheap.
$100,000 per month is cheap? I can only find two apartments listed on streeteasy.com that cost $100,000 per month or more.
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Old February 23rd, 2011, 12:56 AM   #928
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$100,000/m represents the top .1% of rent costs. To say it's cheap is absolutely insane.
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Old February 23rd, 2011, 03:00 AM   #929
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I think 3k per square foot would be more reasonable for most of the rooms in this building. The higher ones on the higher floors will no doubt get really high prices.
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Old February 23rd, 2011, 03:56 AM   #930
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Quote:
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$100,000/m represents the top .1% of rent costs. To say it's cheap is absolutely insane.
Insane is moving to Manhattan to live in the hood. I know people who pay $800 A month to live in the projects.
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Old February 23rd, 2011, 03:59 AM   #931
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I think 3k per square foot would be more reasonable for most of the rooms in this building. The higher ones on the higher floors will no doubt get really high prices.
In today's market, the highest floors should easily get $6k/sf.
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Old February 25th, 2011, 02:51 PM   #932
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nycdagreatest, February 24th, Skyscraperpage..

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Old February 25th, 2011, 02:57 PM   #933
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I still can't believe that they are building a supertall in this particular location. It looks weird to have a supertall cramped between existing buildings, while we are used to see them almost exlusively freestanding on thei own dedicated lots.
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Old February 25th, 2011, 02:57 PM   #934
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Thanks Dino!!
Wow, nice progress, this baby is slowly taking off.


Da zdrastvujet piervoe maja!
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Old February 25th, 2011, 11:18 PM   #935
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I still can't believe that they are building a supertall in this particular location. It looks weird to have a supertall cramped between existing buildings, while we are used to see them almost exlusively freestanding on thei own dedicated lots.
That is the density of New York.
Allthough this tower will rise far above these relatively small buildings.
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Old February 25th, 2011, 11:28 PM   #936
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Quote:
Originally Posted by Uaarkson View Post
$100,000/m represents the top .1% of rent costs. To say it's cheap is absolutely insane.
I agree, but what's truly insane is to talk about price/sqft without consideirng the actual size of the rental unit. avg price can be quite diff for an efficiency apt compared to a penthouse no? :-)
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Old February 27th, 2011, 09:45 PM   #937
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How fast can they go?

Hi:

Just visited the site today. One thing that strikes me is I don't know if they will ever be able to go very fast on this project. They have just one crane?

Anyone know why? I walked by the 58th street side and was surprised that there was no crane there. I would think they would want two cranes. With one, won't it be much slower?

I was also surprised by all the lumber on the site. I guess for building the molds for all the concrete they need that but I would also think that would really slow things down. And truthfully, this isn't going very fast. Seems like I walked by a month ago and that they've only added about 1 floor since then.

It also looks like the main entrance might be on 58th Street, not 57th. That would be surprising given what a minor street 58th is but it did look like it had a big, beam free, lobby on the 58th St side whereas it doesn't look like that on the 57th St. side.

Finally, anyone know of any good observation places for this construction, preferably someplace a few stories up? From street level it is hard to see what is going on at the whole site.
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Old February 27th, 2011, 10:51 PM   #938
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Quote:
Originally Posted by 600West218 View Post
Hi:

Just visited the site today. One thing that strikes me is I don't know if they will ever be able to go very fast on this project. They have just one crane?

Anyone know why? I walked by the 58th street side and was surprised that there was no crane there. I would think they would want two cranes. With one, won't it be much slower?

I was also surprised by all the lumber on the site. I guess for building the molds for all the concrete they need that but I would also think that would really slow things down. And truthfully, this isn't going very fast. Seems like I walked by a month ago and that they've only added about 1 floor since then.

It also looks like the main entrance might be on 58th Street, not 57th. That would be surprising given what a minor street 58th is but it did look like it had a big, beam free, lobby on the 58th St side whereas it doesn't look like that on the 57th St. side.

Finally, anyone know of any good observation places for this construction, preferably someplace a few stories up? From street level it is hard to see what is going on at the whole site.
One crane is there because there's no steel beams, only steel bars for concrete..One crane is enough for that..Also, 58th street is not good for a crane because there's only lobby and entrance down there, so if they place that crane there they have to connect it to the building as they rise..And the crane would be too far from the building since the floors above the lobby are distanced from the street inward to the site..That's why is on the 57th street..

And the observation points..If you find any, take some pics, we seriously need some from above..
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Old February 27th, 2011, 10:56 PM   #939
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Not bad progress, hopefully this thing will pick-up. The last photo is great.
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Old February 27th, 2011, 11:59 PM   #940
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Quote:
Originally Posted by kingsc View Post
I really thought 4k sf was damn cheap. To live a cross the street from central park.
For those who don't know the cost of living in Manhattan. $100 thousand in rent per month is cheap.
ARE YOU SERIOUS?!?!
you could buy an average flat in Britain for that price, yes BUY a whole flat for that price, not rent per month

Anyway, nice to see the project rising
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