NEW YORK | 7 Bryant Park (1045 6th) | 450 FT | 29 FLOORS

[NYguy]

November 24, 2014

[njcco]

It looks even better in person. The large-grid windows are top-quality glass.

[Nexis4Jersey]

from a few weeks ago


Skyscrapers around Bryant Park in Manhattan by Nexis4Jersey09, on Flickr

[NYguy]

Not even complete, and it's sold..


http://www.nasdaq.com/article/bank-o...20141208-00757

Bank of China to Buy Manhattan Tower for Nearly $600 Million


By Dow Jones Business News
December 08, 2014

Bank of China Ltd. has reached a deal to buy a Manhattan office tower for nearly $600 million, according to people familiar with the agreement, marking the latest display of Chinese investment in trophy U.S. properties.

The bank on Friday agreed to buy 7 Bryant Park, a glassy, 28-story tower being constructed on 40th Street and Sixth Avenue by a venture led by Houston developer Hines and J.P. Morgan Chase & Co.'s asset management arm, the people said.

The 470,000-square-foot building, just south of the 1,200-foot-tall Bank of America Tower, would give Bank of China the newest tower to dot the Manhattan skyline and a flashy new perch from which it can expand its U.S. business.

While it is unclear if the bank intends to occupy all of the building, it would be a major upgrade from its current New York headquarters, a small, low-slung brick building at 410 Madison Ave.Bank of China would buy the tower upon its completion next year.

The deal comes as Chinese investors' appetite for high-profile U.S. properties has grown rapidly.

For years, Chinese investors sat on the sidelines of U.S. commercial property, often showing interest in buildings on the sales block but rarely putting in competitive bids.

Since mid-2013, however, Chinese investors have bought stakes in the most expensive building in New York--the General Motors building--two development sites in Los Angeles poised to become high-price apartments, and the most expensive hotel ever sold in the country. That hotel is the Waldorf Astoria, which China's Anbang Insurance Group Co. in October agreed to buy for $1.95 billion.

Hines and J.P. Morgan, advised by CBRE Group Inc., broke ground on the tower in 2013 without any tenants in a bet that they would be able to fill the tower with U.S. firms willing to pay some of the highest rents in Manhattan.

But earlier this year they began negotiating with the Bank of China for a sale, attracted in part by the price tag, according to people familiar with the matter.

While the nearly $1,300 a square foot being paid is shy of the more than $1,700 a square foot fetched by a handful of Midtown towers recently, that price doesn't include the cost of building out the office space, often $150 to $200 a square foot, people familiar with the deal said.

In addition, the deal, which is technically a long-term leasehold, doesn't include the land under the tower. The land is owned by Pacolet Milliken Enterprises Inc., a limited partner in the tower.

[Nexis4Jersey]

7 Bryant Park in Midtown Manhattan by Nexis4Jersey09, on Flickr

[Nexis4Jersey]

From last week


A Wet Foggy Day Midtown Manhattan by Nexis4Jersey09, on Flickr


A Wet Foggy Day Midtown Manhattan by Nexis4Jersey09, on Flickr

[ILNY]

[chris08876]

Credit: http://fieldcondition.com/blog/2015/2/10/7-bryant-park

[ILNY]

Almost complete.

[Submariner]

God almighty this makes the two buildings to the right even less appealing than they already were. Hopefully someone tears them down to make way for something else.

[pico44]

Originally Posted by Submariner

God almighty this makes the two buildings to the right even less appealing than they already were. Hopefully someone tears them down to make way for something else.

I think you are wrong. That's the best modern wedding cake in the city. It needs to be landmarked before some bonehead developer tears it down for another Marriott. A little TLC and it'll be a gem.

[Submariner]

Originally Posted by pico44

I think you are wrong. That's the best modern wedding cake in the city. It needs to be landmarked before some bonehead developer tears it down for another Marriott. A little TLC and it'll be a gem.

- Large blank wall sticking out of the sideof the building like a tumor? Check.

- Poorly proportioned? Check.

- Hood-ass cladding and glass quality? Check.

- Dumpy, unremarkable building sandwiched next to it? Check.

- A site that could give rise to a massive tower to complement the BofA tower or the upcoming One Vanderbilt? Check.

The official website for the tower doesn't even have a profile picture of the building in the gallery. Seriously, it's so fucking horrendous that they don't even have a picture of it. That's like saying on your Facebook page: "In a relationship with _____________" and never putting up a picture of her. You know it's bad when they don't want prospective renters to see what it looks like.

[Rbsanford]

I think it adds to the architectural diversity of New York. Tearing it down and building another post-modern supertall would be a huge mistake. It may not be that sexy, but it does not deserve demolition.

Just my two cents.

[Submariner]

Originally Posted by Rbsanford

I think it adds to the architectural diversity of New York. Tearing it down and building another post-modern supertall would be a huge mistake. It may not be that sexy, but it does not deserve demolition.

Just my two cents.

I understand, but wouldn't this be such a wonderful location for say, a 15 CPW jr.?

[sparkling]

Bank of China ready to lease out 60 percent of 7 Bryant Park

Steve Cuozzo
March 31, 2015

So, what’s next for 7 Bryant Park when Bank of China completes a deal to buy the nearly finished midsize skyscraper from developers Hines and JPMorgan?

Turns out Bank of China will occupy only about 40 percent of the distinctive notch-cornered office tower and put the remaining floors up for lease, we’ve learned.

The bank’s plan will bring a large block of state-of-the-art space to market even as older Sixth Avenue buildings to the north continue to attract new tenants for spaces once thought difficult to refill.

Bank of China is buying the 30-story tower on Sixth Avenue between 40th and 41st streets for a reported price of nearly $600 million.

Until now, it was speculated the bank would use the whole new building, which overlooks Bryant Park, as its US headquarters.

So we took notice when Jones Lang LaSalle’s just-out first-quarter Manhattan office data mentioned that 7 BP, as well as 10 Hudson Yards, was adding to Midtown’s Class-A vacancy, which inched up to 10.9 percent from 10.7 percent from the fourth quarter of 2014.

JLL is not the agent for 7 BP’s developers, Hines and JP Morgan — CBRE is.But although CBRE wouldn’t comment, we’ve confirmed that Bank of China will put about 282,600 square feet up for grabs in the 471,000-square-foot tower.

The JLL survey also found that Manhattan Class-A vacancy overall increased from 10.5 percent to 11 percent in the first quarter despite strong leasing activity. The uptick resulted from several large blocks coming to market. Midtown South held steady at 6.1 percent and Downtown vacancy rose by 1.9 percent, to 13.5 percent, according to JLL.

[599GTO]

The glass looks great.

[chris08876]

Complete


Credit: http://www.wsj.com/articles/at-7-bry...off-1430961817

They are currently adding furniture inside, but everything, interior, exterior is brand new!

[chris08876]

Credit: http://www.skyscrapercenter.com/buil...ant-park/12767

[JACKinBeantown]

That one simple element, the curved negative space, takes an otherwise average building and turns it into a slightly above average building.