[NYguy]

Originally Posted by STR

TV is there, it's just out of frame.

In that particular view it would be visible just to the right of 15 Penn/BofA.

Originally Posted by JACKinNYC

NY Times article highlighting Carnegie 57 and why apartment prices will start rising again by the end of the year. The photo shows that they're working on the fifth floor.

http://www.nytimes.com/2011/01/16/re...6cov.html?_r=1

Why Your Next Place May Cost More



By VIVIAN S. TOY
January 14, 2011

Now, as the market plods along in a slow but steady recovery, brokers and developers are saying the city will soon face a shortage of new development projects.

Brokers, developers and market watchers say that barring any significant economic hiccups, real estate values in Manhattan will continue to grow at a measured rate through 2011. But starting in 2012, after most or all the new projects that were stalled or delayed have finally sold out, the supply of new apartments will take a decided dip, and prices for all apartments could start to rise significantly again. “Once we work through the existing inventory and there’s nothing new coming on line,” said Kelly Mack, the president of the Corcoran Sunshine Marketing Group, “there’s going to be a major shift in the market. Prices may start going up significantly in 2012, in anticipation of the shift in inventory.”

Gary Barnett, the president of Extell Development and one of the few developers who continued building through the downturn, said the lack of inventory was more pronounced now than in previous recessions. “In the early 1990s,” he said, “there was a big overhang of things that had been built in the late ’80s, but when things stopped this time, it just fell off a cliff.”

Last year, Extell started a hotel/condo project on West 57th Street near Carnegie Hall with 136 condo units, which Mr. Barnett said would come to market in 2013.