SkyscraperCity banner

1 - 20 of 176 Posts

·
Whiskey Tango Foxtrot
Joined
·
55,632 Posts
A bit premature, no?

But it does sound compelling:

Despite his critics, Mr. Shvo is forging ahead. He recently went into contract for a second, even more ambitious development, in partnership with Erez Itzhaki of the Keystone Group. The project, 100 Varick Street, is to be built on nearly half an acre between Broome and Watts Streets. The site is an assemblage of several town houses, development parcels and air rights that took six months to acquire. The developers are proposing a 30-story condominium and expect to complete more than $800 million in sales. He says he also is putting together two deals near Central Park in Midtown, one of them for a 100-story tower.
 

·
Je suis tout à vous
Joined
·
16,383 Posts
WOW the 100 story building sound awesome!!! perhaps it could break the 500 m mark (to roof).
 

·
Banned
Joined
·
4,606 Posts
Discussion Starter #4
I wonder where. Maybe the lame rental on 57th and 6th with the three adjacent empty lots.
 
  • Like
Reactions: Zaz965

·
Steinway to Heaven |¦┆┊
Joined
·
1,837 Posts
WOW the 100 story building sound awesome!!! perhaps it could break the 500 m mark (to roof).
Well, we have five 400m+ towers with only 80 something storeys. So a 100 storey building in New York sure sounds incredible! Let's wait and see how this will develop.

And btw Punk, can you change thread title to 300m+? Thanks.
 

·
Banned
Joined
·
4,606 Posts
Discussion Starter #8 (Edited)
The Hadasah site is a possibility, although it is situated right behind the Park Lane, and therefore, could have obscured views.

Other possible sites are:

(1) 16-18 W 57th, which -- I believe -- is adjacent to a 56th St development site formerly occupied by the American Cancer Society;

(2) 52-56 W 57th with (or without) the market-rate rental next door; or

(3) the Director's Guild at 110 W 57th.

In any event, Shvo has connections to Israeli and Russian money. Thus, this is real.

P.S.: The Schvo-ster alluded to two Midtown projects earlier this month in the following interviews with the NYT and The Real Deal:

http://www.nytimes.com/2013/10/02/realestate/commercial/michael-shvo.html?partner=rss&emc=rss&_r=0

http://therealdeal.com/blog/2013/08/05/michael-shvo-shopping-for-more-development-sites/
 

·
Banned
Joined
·
4,606 Posts
Discussion Starter #10
That's possible. We should hear something from Wanda soon.
 

·
Registered
Joined
·
560 Posts
Even if this doesn't get built, 57th Street will become the densest corridor in the entire world. If this does go up, it will be completely unrivaled, and 100% insane; four supertalls in the span of one mile is crazy enough given the urban canyon that has developed. A 100-story tower would likely be in the 1,600 to 1,800' range, and would utterly dwarf One57 - which is only just finishing up!
 

·
Registered
Joined
·
2,301 Posts
The most interesting part, in my view, will be to see just how long this spree lasts. Of course, it's all happening because New York is the real estate safe haven of the world. I'm sure I shouldn't expect it to slow down all too substantially in the coming decade, and I'm not sure New York's global status will ever change, but you have to wonder at what point it becomes too good to be true.
 

·
Registered
Joined
·
883 Posts
Sounds absolutely promising!

Mr. Shvo, as the story goes, arrived in New York in 1996 from Israel with just $3,000 in his pocket. He managed a fleet of taxis before becoming a broker at Douglas Elliman, where he quickly rose up the ranks. By 2003, at age 30, Mr. Shvo was the firm’s top producer, with more than 400 deals totaling $300 million in sales.
From 2003 until 2008,” he said, “I did $15 billion worth of real estate deals worldwide.
 

·
Whiskey Tango Foxtrot
Joined
·
55,632 Posts
Nothing lasts forever, and just like other booms there will probably be some nice towers that do not end up being built.
This is the very highest end of the market. Deals are done with CASH. When the demands begins to soften (and it will), developers will focus further down the chain. NYC has a shortage of apartments in the $1-3 million range. There will be plenty of these built in several boroughs. But they don't get built around Central Park, and they may not be supertalls.
 
1 - 20 of 176 Posts
Top