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Originally Posted by GFSNYC
Dac, you def cleared up a few things!
4.7msf is quite a lot, I've always wanted to know, would developers like Brookfield, build on this land with the typical 700ft glass towers or really make vie to max out the sq alotted? I imagine there is higher return on more conservative towers probably based on variables that you've mentioned before. Is there really a sort of financial height barrier, or sweet spot within the development community? Personally, I think that it was always short sighted not to max out the sq ft on a tower in NYC when, in the very long term it will be rented out.
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Thank you, I'm glad I could help.
Well in this case being that there is no height restriction, the developers can build as high and as big as they can afford. Brookfield is a reputable firm though, so I am expecting some good designs.
They will try to incorporate GREEN features into the buildings to make them more echo friendly. GREEN based buildings are whats "in" in development these days. They not only benefit the enviroment, but also enhances the buildings chances of being approved.
In this case, Brookfield will try to max out what they can to allow as much square footage as possible. It's simple: more room equals more money. I believe they are erecting some sort of park to go along with the complex, but I might be mistaking.
Overall, I would count on Brookfield putting together some nice buildings.