View Full Version : 610 Lexington Ave (correction)
Unregistered (guest)
Jan 2, 2010, 11:55 AM
Hello everyone. I want to submit an information about this building http://skyscraperpage.com/cities/?buildingID=35083 (New York, 610 lexington ave.). This buildings is under-construction.
Here a reliable source: http://buildingdb.ctbuh.org/?do=building&building_id=1310
Thank you
Your source is incorrect; this project has been [rather infamously] cancelled for some time. The site was cleared and excavated, but the hotel backed out its plans and the developers face foreclosure on the site as they default on their construction loans.
OneWorldTradeCenter
Jan 2, 2010, 7:44 PM
Yes Cg2, I agree.
The CTBUH has made new section for it´s lists. Formerly they used PDF-files. Now they have changed and use a normal interactive list. I noted there several more mistakes because of this. Example: They list the old WTC proposal from Norman Foster as under-construction. That has been cancelled in 2004. The proposed lists also contains several mistakes. So spend the CTBUH some time to improve their database. Because of this, and a few others, I contacted the CTBUH´s datamase editor to improve those wrong facts.
It´s shame that the 610 Lexington Avenue Tower won´t be built. But it´s in fact so. I can not change this. :(
RobertWalpole
Jan 14, 2012, 3:36 AM
http://therealdeal.com/blog/2012/01/13/rfr-buying-144m-note-at-610-lexington-at-discount-sources/
RFR buying $144M note at 610 Lexington at discount: sources
January 13, 2012 06:00PM
By Adam Pincus
From left: RFR's Aby Rosen, a rendering of the planned hotel, and 601 Lexington Avenue
Aby Rosen’s RFR Holding is in contract to buy back the debt for far less than the $144.2 million face value at the Midtown development site at 610 Lexington Avenue, a source familiar with the deal said.
Although the vacant property, where Rosen sought to build the Shangri-La Hotel, New York, is in contract to RFR Holding, it was not clear when the sale would close, the source said. The site is adjacent to Rosen’s iconic Seagram Building, at 375 Park Avenue.
In 2007, RFR borrowed $144.2 million from Lehman Brothers Holdings for the development of the 64-story hotel at the corner of Lexington Avenue and 53rd Street. However, the project stalled during the credit crisis. First, Lehman transferred the loans to ING Real Estate Finance in November 2008, city property records show. Then in April 2009 it was reported that Shangri-La had withdrawn from the project. Two months later, ING filed to foreclose on the loan.
Rosen’s company is expected to buy the note for about $75 million, but he had competition from various investors including Roy Stillman’s Stillman Development International, which signed a contract for $80 million, but did not close, according to another source.
The site has rights for just over 200,000 square feet of development, information from PropertyShark.com shows.
RFR did not respond to a request for comment, and Stillman Development and ING declined to comment.
Even as some of Rosen’s projects have been delayed by the downturn, hotel assets have strengthened in value over the past year in Manhattan.
RobertWalpole
Mar 14, 2012, 2:03 PM
About to resume!
http://www.nypost.com/p/news/business/realestate/commercial/whole_foods_in_billy_burg_MXKSFxcmtNZjDu2Aw7M4vL
Dylan Leblanc
Mar 14, 2012, 5:09 PM
done
Antares41
Mar 16, 2012, 4:30 PM
Hooray! an old illustration back in the limelight at least to the new design is unvailed
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