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NEW YORK | Madison Square Park Tower | 777 FT | 64 FLOORS

http://online.wsj.com/article/SB1000...351518006.html

For Developer, 3 Could Be Charm

http://si.wsj.net/public/resources/i...0521190921.jpg

Site of the potential condo tower

By ELIOT BROWN
May 21, 2013

Quote:

Ian Bruce Eichner, a developer whose high-profile problems became symbols of the last two real-estate busts, is in final stages of a deal to buy a condominium development site near Manhattan's Flatiron Building.

Looking to mount his latest comeback, Mr. Eichner is preparing to spend more than $100 million to buy the site as well as air rights that would enable him to build a nearly 800-foot tower with more than 90 units, according to real-estate executives briefed on the project. The slim, glass condo tower he is planning, designed by architecture firm Kohn Pedersen Fox Associates, would be the tallest building between the Empire State Building and downtown.

Similar to many developers moving ahead with new condo projects recently, Mr. Eichner is targeting the upper end of the market, real-estate executives said. Similar to others, he has been emboldened by the high prices that are being fetched these days—more than $3,000 a square foot in Greenwich Village and more than $5,000 a square foot for some units by Central Park.

A spokesman for Mr. Eichner declined to comment. He is hoping to complete the purchase of the site and air rights in the next few weeks, the executives said. The site is owned by One Hand Realty LLC, while the air rights are from a variety of properties nearby. One Hand couldn't be reached for comment.

The tower, on East 22nd St. between Broadway and Park Avenue South, would be only 50 feet wide at the base but would expand like a slender champagne flute and be wider at the top, a rendering reviewed by The Wall Street Journal shows.

To move forward on the condo tower, Mr. Eichner would need to line up financing and close on the purchase of the site.

Wow, 800 foot KPF-designed tower at 22nd & Park Avenue South.

Sounds good to me. The developer will get amazing prices at that location.

And will be great for the skyline. It will help fill in the "gap" between Midtown and Downtown.

This is very exciting for the area. This would be a great partners to One Madison Park, the old MetLife Clock Tower and the Flat Iron building.

But if this is the exact location, I would hate to see one of my favorite Indian restaurants go out (Tamarind). Well that's NY for you. I'm sure they will move onto bigger and better things.

Damn, this one came out of nowhere! I look Forward to seeing the renderings.
:cheers:

Quote:

Originally Posted by Crawford (Post 6137009)

Indeed, a very unique location. Even at 800', this tower would have an impact on the skyline.

A good day for New York!

Yeah, this did come out of nowhere. But all of the luxury condo action taking place won't go unnoticed as more developers will try to cash in on the hot market. Can't wait to see the design.

This is an exciting project. If it moves forward, it will replace two of these grayish townhouses (no loss):

http://farm4.staticflickr.com/3760/8...8c752d3b_o.jpg

http://farm6.staticflickr.com/5465/8...336eb1ce_o.jpg

I think this tower will complement its next door neighbor, One Madison Avenue being finished up right now by Related:

http://farm4.staticflickr.com/3669/8...f98bd576_o.jpg

Quote:

The tower, on East 22nd St. between Broadway and Park Avenue South, would be only 50 feet wide at the base but would expand like a slender champagne flute and be wider at the top, a rendering reviewed by The Wall Street Journal shows.

I need to see this rendering.

I wonder if it will look like a slimmer version of the "walkie-talkie" under construction in London. (I forget it's real name right now)

Quote:

Originally Posted by DrNest (Post 6148008)

I wonder if it will look like a slimmer version of the "walkie-talkie" under construction in London. (I forget it's real name right now)

This one? If so, it will be a much more slender version, but in this location a nice, dramatic addition.

20 Fenchurch Street
http://www.london-property-market.co...e-building.jpg
http://www.london-property-market.co...lkie-building/

great shot of one madison, wow, what a tower.

Quote:

Originally Posted by NYguy (Post 6148192)

This one? If so, it will be a much more slender version, but in this location a nice, dramatic addition.

Yes, that was the one I was thinking of. Agreed, a much slender version, but still I had in mind a similar shape.

http://www.nypost.com/p/news/busines...unHZT13l809ISI

NoMad lands
North of Madison Square Park is buzzing with restaurants, hotels and new condos — here are five reasons we’re excited

By MAX GROSS
June 27, 2013

Quote:

...And there’s activity on the south side of the park, too: Related is restarting sales on One Madison Park, and we hear that Ian Bruce Eichner’s firm, Continuum, is also gearing up to start a project down the block on East 22nd Street.

Here is some news on this project. Looks like it will be 718 feet tall according to permits that have surfaced. Also, only 50 feet wide at the base :P

http://blog.buzzbuzzhome.com/2013/08...t-eichner.html

Quote:

Originally Posted by jackster99 (Post 6227319)

Thanks. They need to give us a rendering since it's floating around already...

(41 E. 22)

http://a810-bisweb.nyc.gov/bisweb/Jo...r=01&restore=1

58 floors
718 ft (for now)
81 units

Looks a bit top heavy.

Quote:

Originally Posted by scalziand (Post 6376892)

Looks a bit top heavy.

Well, that was the one thing we expected from this...

Quote:

The tower, on East 22nd St. between Broadway and Park Avenue South, would be only 50 feet wide at the base but would expand like a slender champagne flute and be wider at the top

Bigger floorplates at the top mean a higher price for the penthouse.

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