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NY POST

LUXE APTS. ARE B'WAY BOUND

By STEVE CUOZZO

October 19, 2004 -- LOVERS of Broadway's bright lights may soon bed down in the neon and LED glow of the Morgan Stanley triple-zipper and the Hershey chocolate store. A prime, underutilized site in the theater district is poised to be redeveloped as a luxury apartment building.

Sherwood Equities has quietly filed plans with the Buildings Dept. to demolish the gloomy old 10-story brick structure at 1600 Broadway and erect a 25-story project with 136 "residential units" on top of three stories of retail.

The construction plans have yet to be approved, and Sherwood might yet decide to use the valuable site it has owned for 16 years for a hotel instead. But sources said that with the Times Square-area market saturated and demand for luxury apartments strong, Sherwood is more than likely to build apartments.


Times Square Alliance President Tim Tompkins, noting that some 6,500 new apartments have opened in the area in the past few years, said a new residential tower just north of the "Bow-Tie" would be "most welcome."

Where most new neighborhood apartment projects are on Eighth Avenue or in the 50s, Sherwood is set to take the plunge in the heart of the Great White Way — the block bounded by Broadway and Seventh Avenue and 48th and 49th streets, amid Lehman Bros. and the Renaissance and Crown Plaza hotels.

It's also across the street from Lace Gentlemen's Cabaret, one of the few places that still sports a "topless" sign.

Sherwood Chairman Jeffrey Katz declined to comment, other than to say that the apartment tower was "one of the options" under consideration. But workmen are already preparing to take down the old building, and Manhattan-based Shuman Lichtenstein Claman is recorded by the Buildings Dept. as the architect.

No decision has been made yet whether the apartments will be rentals or condominiums.

Sources said the well-regarded firm of Einhorn Yaffee, which worked on Sherwood's 2 Times Square — the Renaissance Hotel with its famous Coca-Cola sign — would also be involved.

The 1600 Broadway building, opened in 1910, was once a Studebaker auto factory. Since then it has housed offices, sound studios and movie post-production facilties.

Sherwood emptied the upper-floor tenants in 2002, leaving only a few fast-food joints. Those, too, have closed, leaving only giant liquor billboards as a reminder of the past.
 

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visit the world
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I wonder how it will look!

Something instead of this:


Its just a little to see of it on the left of this pic I made..


Its about in the middle of the leftside buildings in this pic (at the texas texas sign (red and yellow):
 

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I think the old building is very nice, sad they want to replace it with that modern building.
 

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New York Yankee said:
what's that on the right side of the building?
It looks like advertising billboard space. Here's construction updates courtesy of the official website...





Thanks to Derek2k3 for the caps.
 

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I don't like the fact that the Studebaker Bldg had to be demolished when it could have been preserved. :(

 

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i totally agree. while the building's sorta gloomy-looking, it has its own charm.

they should've at least preserved its facade and build the apartment tower in a similar fashion to how they built hearst magazine tower...
 

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NY POST

LULLA-BUY OF B'WAY


BRIGHT LIGHTS: The remodeled 1600 Broadway will add a residential building to Times Square.

By LOIS WEISS

June 22, 2005 -- ATTENTION Broadway theater lovers and New Year's Eve revelers: You can soon own a piece of the Times Square Bow Tie — and it will come complete with bathroom, kitchen and bedroom, as well as a private balcony on which to ring in many years to come.

The project was first reported by Post colleague Steve Cuozzo back in October 2004, and now Times Square developer Jeffrey Katz of Sherwood Equities is building his new residential and retail tower: 1600 Broadway on the Square.

"It's a very exciting building," Katz said. "It will be unique, as there are few sites in the area."

The Great White Way project will have two floors of high-ceiling retail, topped by 24 floors containing 137 residential condo units. There will also be a "club" floor for amenities, inclding outdoor terraces, a health club and a roof deck.

Jorge Szendiuch of Einhorn Yafee Prescot is the design architect, while Peter Claman of Schuman Lichtenstein Claman Efron handled unit layouts.


"In New York, when you talk about a room with a view, no one ever thought about this," Katz noted. "The irony is that the lower you are, the better the view."

John Cetra of Cetra/Ruddy designed the interiors of the studios through three bedrooms and other elements. The Marketing Directors will open a sales office right after Labor Day. The firm's Jackie Urgo said the units will be priced around $1,000 a foot.

Because elaborate signage and a great mix of retailers give Times Square its street life, the building is also poised to take advantage of both.

"This is by far the most visible retail branding opportunity in all of Times Square," said Kim Mogull of Mogull Realty, who is representing the 30,000-foot retail space, which includes three signs and an outdoor terrace.

"We look at it that we're charging for the real estate and not the signage," added Mogull, who has already received offers in excess of $400 on the ground and $200 for the second floor with mezzanine.

Mogull is a big booster of the northern Bow Tie area and has just signed a sweet deal a block north.

Here, in an example of higher-end retailers discovering the area's corporate connections, Godiva leased 1,000 feet on the 50th Street corner of the new Lehman Bros. Building at 745 Seventh Ave. at western Rock Center.

Mogull represented Godiva while Newmark's Neil Goldmacher, Jeffrey Roseman and Ken HochHauser worked on the deal for Lehman.
 

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There is now a crane on the site.

Originally posted by Edward from Wired NY.
 

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sfenn1117 said:
I just don't get why you do it.
huh? ... well obviously to give us photo updates here on the construction.

Considering that we hardly or never get photos or updates from any of you other forumers on smaller towers like this, WiredNewYork is the only place to find some to post here.... not to mention there would be almost no discussion in this forum without these posts.
 
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