^ That doesn't meany anything. Goldman Sachs and a few others were or are in that range.
The excessive costs here probably have to do with design, which will likely be something extraordinary.
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Originally Posted by Zapatan
If it really is 733kSF it'll probably be insanely skinny!
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The footprint alone suggests a skinny skyscraper. But 3 quarters of a million sf is decent sized for these type skyscrapers. The Steinway addition (111 W 57) is between 100-200k sf and 432 Park is about 400k sf. They can do a lot with 733k sf.
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http://www.quidnuncre.com/2014/09/29...o-hudson-yards
Hines Gets Into Hudson Yards
September 29, 2014
By QuidnuncRE Staff
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Houston-based real estate development and management firm Hines today confirmed that it is joining with MG Properties to develop 360 Tenth Ave. for mixed-use.
Hines is based in Houston but operates internationally, and has a New York office that manages 16 commercial properties in the city, including several prominent office towers.
MG Properties is the NYC-based real estate investment and development arm of McCourt Global, the investment firm started by Frank H. McCourt Jr., who is best known as a former owner of the Los Angeles Dodgers.
McCourt's costly divorce led to the team's bankruptcy, and a sale forced by Major League Baseball in 2012. Prior to his 2004 purchase of the Dodgers, McCourt was best known as a Boston real estate developer; his family has been in building, construction and development for more than a century.
MG Properties bought 360 Tenth Ave., adjacent to the Hudson Yards development at W. 31st St., from NYC's Sherwood Equities for about $167.5 million last year.
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http://www.mg.com/mg-properties-hine...ted-architect/
MG Properties and Hines Team Up on 360 Tenth Avenue; SHoP Selected as Architect
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....Recently named the world’s most innovative architecture firm by Fast Company, SHoP has been a creative force behind many notable projects in New York City in recent years, including: 111 West 57th; 626 First Avenue; Gotham Gateway; the Domino Sugar Refinery and Barclays Center.
“We are thrilled to be working with McCourt and Hines to design this important new tower at the terminus of the High Line and the hinge between the Hudson River and Penn Station. We hope to create a building that evokes the best of historic Chelsea while making a strong contemporary addition to the skyline.” said Vishaan Chakrabarti, a partner at SHoP Architects.
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