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  #21  
Old Posted May 27, 2016, 3:51 AM
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http://ny.curbed.com/2016/5/26/11789...ntial-building

Sheldon Solow May Be Planning A Residential Tower on Billionaires Row
He could build as much as 213,000 square feet of residential space after his recent purchase.






BY TANAY WARERKAR
MAY 26, 2016


Quote:
Developer Sheldon Solow could build a tower with 213,000 square feet of residential space on Billionaires Row after his most recent purchase of an office and retail building at 16 West 57th Street, The Real Deal reports.

Solow purchased this building from real estate group JHSF for $128 million. Solow's firm also owns two properties on the left side of this building at 10, and 20 West 57th Street, and one to the south of the building at 19 West 56th Street. The air rights from all those buildings would allow for the creation of a residential building with the above-mentioned size.

This site at 16 West 57th Street has been at the center of several lawsuits and controversies however. Solow had tried to acquire the building in 2011, but lost the bid to Extell Development. Extell subsequently filed a lawsuit against Solow in 2013 for not allowing construction workers to access the site at 16 West 57th Street through the adjoining lots. Rumors were abound at the time that Extell had bought the property simply to stop Solow from building a tall luxury tower similar to Extell's One57.

Extell eventually moved on from that property and sold it to JHSF for $95 million in 2014. The latter wanted to bring a hotel-condo project to the site, but that never got off the ground, and instead JHSF was involved in a lawsuit over commission fees due to a brokerage firm.
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  #22  
Old Posted May 27, 2016, 10:04 PM
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I wonder if this will be in the 800 foot range. Granted if the assemblage was larger, it could be a similar size to One57. If they could bump the assemblage to include 300k of rights, we could be looking at a super tall here.

It could be done though with the 213k figure as well, but it would really depend on the design.
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  #23  
Old Posted Jul 5, 2017, 4:34 PM
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https://therealdeal.com/2017/07/05/f...condo-project/

Fine arts store fights Sheldon Solow over Billionaires’ Row condo project
Shop hired star attorney David Rozenholc to fight eviction


July 05, 2017

Quote:
It’s David versus Goliath on 57th Street. An antiques shop is battling to stop billionaire Sheldon Solow’s planned luxury condo tower and hired one of the city’s most notorious tenant attorneys to help it.

Solow recently began demolition work on a series of buildings across the street from its office tower 9 West 57th Street, with plans to build the latest condominium on Billionaires’ Row. But first he will have to get rid of the lone holdout tenant at 10 West 57th Street, Metropolitan Fine Arts and Antiques, which is paying $283,000 a month in rent.

Solow issued a five-day notice terminating the shop’s lease in June, claiming it violated the terms of its lease in part by illegally selling ivory. But Metropolitan, through its lawyer David Rozenholc, contests the eviction, claiming Solow put up scaffolding solely to force the tenant out.

“The scaffolding was put in place for one reason,” Rozenholc told the New York Times, “so customers don’t come in. He obviously wants to develop the site, so they decided to create some leverage to push the tenant out.” The attorney gained fame in the 1980s when he stopped Donald Trump from evicting tenants at 100 Central Park South.

Solow, who is 89 and both famously litigious and patient, bought the first parcel of the assemblage in the 1970s and added two more parcels in 2007, according to the Times. Last year he paid Gary Barnett $128 million for a site at 16 West 57th Street and then hired Skidmore Owings & Merrill to design a 54-story hotel and condo tower.
Solow is also building a 42-story apartment tower on the corner of First Avenue and East 39th Street
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  #24  
Old Posted Jul 5, 2017, 6:38 PM
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Nice to see this moving forward. I'm guessing around 900 ft.?

I assume a SOM designed billionaires row tower will be glassy, international style? Solow seems to prefer glassy modernism.
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  #25  
Old Posted Jul 6, 2017, 12:13 AM
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Originally Posted by Crawford View Post
Nice to see this moving forward. I'm guessing around 900 ft.?

I assume a SOM designed billionaires row tower will be glassy, international style? Solow seems to prefer glassy modernism.
It'll probably be in that range.


https://www.nytimes.com/2017/07/04/n...th-street.html

A Holdout Delays a Developer’s Latest High-Rise Dream

By CHARLES V. BAGLI
JULY 4, 2017


Quote:
Mr. Solow, a billionaire who turns 89 this month and is now in a hurry, hired Skidmore Owings & Merrill to design a sleek 54-story hotel and condominium tower to take its place on what has become known as Billionaires’ Row.

.....Developers have built a half-dozen tall towers with apartments that only a billionaire could afford on 57th Street. The market for $100 million apartments has stalled in recent years. Mr. Solow is betting that the market will recover.

He bought his first of six parcels on the south side of 57th Street — 6 West 57th Street — in 1977, according to Real Capital Analytics, a real estate research firm. Most likely, he was simply blocking a rival developer from erecting a tower that might obscure the south-facing views of his office tower on the other side of the street.

He did not purchase the second and third parcels until 2007. He lost a bidding war for 16 West 57th Street in 2011 to the developer Gary Barnett, who later sued Mr. Solow for obstructing his plans to build his own tower. Mr. Solow finally bought that building last year for $128 million, $48 million more than Mr. Barnett paid in 2011.

“I wasn’t ready to move,” Mr. Solow said in explaining his renewed activity. “I had to put all these things together. You don’t assemble land in a year.”
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  #26  
Old Posted Jul 6, 2017, 12:17 AM
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Meanwhile, these idiots are at it again...


http://www.llnyc.com/159509-preserva...llionaires-row

Preservationists are trying to prevent another Billionaires’ Row

JULY 05, 2017
byISABEL SCHWAB


Quote:
A war is raging in midtown between old money preservationists and developers who won’t stop building giant towers on billionaires’ row.

The Municipal Art Society is the latest civic group to jump into battle, and is proposing new rules for building towers in midtown, including a public review process for any building taller than 600 feet and a stop to any proposed towers until that time. “We do believe that some of these things should not be built as of right,” Elizabeth Goldstein, president of the society, told the Wall Street Journal.

Right now, developers are able to build towers in midtown as tall as they want without any public review process, because the zoning in the area does not specify a height limit. This has led to controversial towers like One57 and 432 Park popping up, turning 57th Street into so-called billionaires’ row.

There is already a movement to restrict height limits on buildings a bit further east of billionaires’ row in Sutton Place. A grassroots campaign from well-connected New Yorkers called the East River Fifties’ Alliance is working there to prevent construction of an 800-foot tower they say would be out-of-place. The group received approval from the community board and the borough president Gale Brewer last week.
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  #27  
Old Posted Jul 6, 2017, 2:58 AM
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Meanwhile, these idiots are at it again...


http://www.llnyc.com/159509-preserva...llionaires-row

Preservationists are trying to prevent another Billionaires’ Row

JULY 05, 2017
byISABEL SCHWAB
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  #28  
Old Posted Jul 6, 2017, 11:03 AM
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Originally Posted by NYguy View Post
Meanwhile, these idiots are at it again...


http://www.llnyc.com/159509-preserva...llionaires-row

Preservationists are trying to prevent another Billionaires’ Row

JULY 05, 2017
byISABEL SCHWAB
I don't see how these people are "preservationists." Some irreplaceable, architecturally significant buildings should not be demolished even for gorgeous new towers. But nothing indicates these buildings fit that bill. Not wanting a tower because it is purportedly "out of character" with the neighborhood, regardless of whether the buildings it replaces have any significance, does not make someone a preservationist.
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  #29  
Old Posted Jul 6, 2017, 12:33 PM
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^ +1. I think the better term would be obstructionist. They look for any reason to block new development. To hell with the jobs the new building would create, and to hell with the impact it would have on the city housing supply, they already have jobs and already own homes here.

These people, community boards, and city councilman have way too much power. If we're not going to allow tall buildings in Midtown, where are we going to allow them?
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  #30  
Old Posted Jul 6, 2017, 10:07 PM
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Looks like this will be 54 floors. Hotel + Condo.

= = = = = = = = =



Quote:
First came the scaffolding, another latticelike structure blocking a sidewalk in front of a Manhattan building. And just in case the tenants in five buildings near 57th Street and Fifth Avenue did not get the message, demolition work started on a sixth, adjoining building.

After decades spent buying one small parcel after another across from his masterwork, the swooping office tower at 9 West 57th Street, the developer Sheldon Solow is finally ready to build.

Mr. Solow, a billionaire who turns 89 this month and is now in a hurry, hired Skidmore Owings & Merrill to design a sleek 54-story hotel and condominium tower to take its place on what has become known as Billionaires’ Row.

There is a problem, however. The owners of Metropolitan Fine Arts and Antiques, and the largest remaining tenant at 10 West 57th Street, do not want to go. They contend that they have a valid lease and do not want to leave what they believe is a fabulous location, near the plush Bulgari store and opposite Bergdorf Goodman.

Early in June, Mr. Solow’s company issued a five-day notice terminating the lease. The two sides are scheduled to fight it out in State Supreme Court on Thursday.

“The lease was canceled,” Mr. Solow said in an interview. “They violated it.”

In the annals of New York’s real estate, battles between landlords and tenants and even between property owners are common and as bloody as any cage fight in a city where the median price for an apartment is more than $1 million.

Over 60 years as a developer, Mr. Solow has acquired a well-earned reputation for patience, stubbornness and ruthless litigation, with hundreds of lawsuits under his belt against enemies, friends, banks and blue chip tenants.

But he is going up against David Rozenholc, the lawyer representing Metropolitan. Mr. Rozenholc fought Donald J. Trump to a standstill in the 1980s when he tried to evict tenants at 100 Central Park South in order to build a condominium tower.
=========================
https://www.nytimes.com/2017/07/04/n...th-street.html
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  #31  
Old Posted Oct 2, 2017, 11:26 PM
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https://therealdeal.com/issues_artic...ws-last-stand/

Solow’s last stand?
The litigious 89-year-old billionaire is ramping up his development game and pursuing three legacy-cementing Manhattan projects



By Kathryn Brenzel and Konrad Putzier
October 01, 2017


Quote:
For someone who’s filed hundreds of lawsuits throughout his career, evicting a begrudging retail tenant might seem trivial. But this could be Sheldon Solow’s last stand — his final court battle. And, this time, a crucial piece of his legacy as a New York City developer is at stake.

The 89-year-old is trying to kick out Metropolitan Fine Arts and Antiques, which occupies the ground floor of Solow’s 10 West 57th Street right in the middle of Billionaires’ Row. Solow is looking to demolish the building, along with five adjacent properties that he’s amassed over the past decade, to make way for a 54-story hotel and condo tower. There’s just one problem: The tenant claims that its lease doesn’t technically expire until 2023.

Solow argues that Metropolitan violated its lease in several ways, including getting convicted for selling ivory, which is banned in New York State because it comes from endangered animals.

“The fact is, these are bad people,” said Warren Estis, Solow’s attorney, referring to the tenants during a recent heated court hearing. “They don’t deny that they were selling illegal goods on the premises. They don’t deny it whatsoever.”

The shop’s owners have maintained that they didn’t know their license to sell ivory was invalid because the law only changed a few years ago. They’ve sued Solow, alleging that he’s trying to harass them out.

Quote:
SOM is designing 10 West 57th Street for Solow, who’s filed a motion for summary judgment to have Metropolitan Fine Arts and Antiques evicted so that he can erect his hotel-condo. An offering plan has not yet been filed for the project.

“He doesn’t want to wait until my client’s lease is up,” said David Rozenholc, a well-known tenant attorney who is representing Metropolitan. “It may have worked in the past, but not against me.”

If Solow wins, he may have to fight slowing hotel and condo markets.
The average number of days that new development condos spent on the market jumped by 25 percent between mid-2016 and mid-2017, according to appraisal firm Miller Samuel. It was an even higher 37 percent for luxury apartments.

Hotels aren’t doing much better. Average nightly room prices in Manhattan have dropped 11 percent over the past three years amid a surge in new supply, according to CBRE.

And while 10 West 57th may have a prestigious address steps from the Plaza Hotel, its view will likely be blocked by 9 West 57th.

“That location doesn’t have the breakout views that the other 57th Street locations have. It’s a key amenity,” said appraiser and market guru Jonathan Miller.

The chance to make serious money with luxury condo sales in this market cycle seems to be over, Miller said. “But [Solow] may be looking out five or six years from now for the next cycle to begin.”
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  #32  
Old Posted Oct 3, 2017, 4:16 AM
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Wait, those beautiful old little slices of London are being demolished? Pathetic and heinous. First the Vornado assemblage, where a gorgeous row were demolished for an empty lot, and now this. 57th used to be pretty because of these nice old buildings, now other than a few stellar towers, its going to be duller to walk through. Whatever Solow puts up is going to be less visually interesting than these nice old neo-classical buildings. I predict some kind of glass box. His legacy is going to be the destruction of beautiful buildings. I hope he doesn't get his way here.

Why on earth don't the city require facadectomies. It's pathetic how little civic pride these developers show. Philistines.

Last edited by aquablue; Oct 3, 2017 at 7:34 AM.
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  #33  
Old Posted Oct 3, 2017, 7:38 AM
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Originally Posted by yankeesfan1000 View Post
^ +1. I think the better term would be obstructionist. They look for any reason to block new development. To hell with the jobs the new building would create, and to hell with the impact it would have on the city housing supply, they already have jobs and already own homes here.

These people, community boards, and city councilman have way too much power. If we're not going to allow tall buildings in Midtown, where are we going to allow them?
Preserve your heritage first. NYC has too many beautiful old buildings that are in danger of the wrecking ball. Developers should do facadectomies everywhere to prevent the fine grained old street buidlings in midtown from being lost.

Last edited by aquablue; Oct 3, 2017 at 7:51 AM.
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  #34  
Old Posted Oct 13, 2017, 12:23 AM
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Sorry all, I know this isn't the same address, but I don't know how to create a new thread, and I'm pretty sure this news hasn't been mentioned on the forum yet?

https://ny.curbed.com/2017/10/11/16458350/billionaires-row-midtown-sheldon-solow-rendering
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  #35  
Old Posted Oct 13, 2017, 12:26 AM
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Sorry all, I know this isn't the same address, but I don't know how to create a new thread, and I'm pretty sure this news hasn't been mentioned on the forum yet?

https://ny.curbed.com/2017/10/11/164...olow-rendering
There's info in the compilation yesterday regarding it.

NEW YORK | 7 West 57th Street | 237 FT | 19 FLOORS
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  #36  
Old Posted Oct 13, 2017, 12:28 AM
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The sad part is that location too. Underwhelming to the extreme being on the Billionaire Corridor and not a near/supertall like the recent towers. The footprint is tiny too.
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  #37  
Old Posted Oct 13, 2017, 12:31 AM
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There's info in the compilation yesterday regarding it.

NEW YORK | 7 West 57th Street | 237 FT | 19 FLOORS
Yup totally missed that, thanks Chris. And I agree, it's an underwhelming building and a wasted use for the lot and area imo
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  #38  
Old Posted Jan 4, 2018, 12:29 AM
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Sheldon Solow sued by another 57th Street tenant who refuses to go quietly

Quote:
MacKenzie-Childs, a purveyor of hand-painted ceramics and colorful home goods, is the latest of Sheldon Solow’s tenants to mess with the octogenarian developer’s plans for a Billionaires’ Row condominium tower.

The retailer, which has leased a storefront at Solow’s 20 West 57th Street since 2012, is suing the developer over nearly $800,000 it says it’s owed for its lease being terminated four years before it’s due to expire.

Solow, who has spent years assembling the site of of a planned hotel and condo tower at 10 West 57th Street, informed MacKenzie-Childs in March 2017 that it planned to end its 10-year in September 2018, according to the lawsuit. When MacKenzie-Childs said it was owed an early termination fee of $769,931, the suit said Solow hit the store with a breach of contract claim, alleging the retailer never submitted documents showing it had final approvals for the store’s buildout back in 2012.

MacKenzie-Childs, which pays $90,833 a month for the 3,700-square-foot ground-floor space, plus a 1,500-square-foot mezzanine floor, spent $1.8 million to renovate the space in 2012, according to court documents.

In the complaint, the retailer said Solow never requested the documents previously and instead collected its rent for 59 consecutive months. “Landlord’s demands for these documents is a transparent and wrongful attempt to terminate the Lease Agreement,” it said.
========================
TRD
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  #39  
Old Posted Jan 8, 2018, 1:25 AM
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Originally Posted by aquablue View Post
Wait, those beautiful old little slices of London are being demolished? Pathetic and heinous. First the Vornado assemblage, where a gorgeous row were demolished for an empty lot, and now this. 57th used to be pretty because of these nice old buildings, now other than a few stellar towers, its going to be duller to walk through. Whatever Solow puts up is going to be less visually interesting than these nice old neo-classical buildings. I predict some kind of glass box. His legacy is going to be the destruction of beautiful buildings. I hope he doesn't get his way here.

Why on earth don't the city require facadectomies. It's pathetic how little civic pride these developers show. Philistines.
100% agree. By and large, NYC's developers would aid and abet a terrorist attack if they thought it'd make them a dime. A few landmarked neighborhoods aside, our city has turned into an ugly wreck after 60 years of Modernist damage. With a few exceptions, this city's developers don't give a damn for the city, and they're making all of us the poorer for it.
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  #40  
Old Posted Jan 8, 2018, 2:02 AM
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Originally Posted by aquablue View Post
Preserve your heritage first. NYC has too many beautiful old buildings that are in danger of the wrecking ball. Developers should do facadectomies everywhere to prevent the fine grained old street buidlings in midtown from being lost.
Umm, no. I’d rather see historic buildings preserved in their entirety or not at all. Facadectomies are the ultimate architectural insult to the original buildings and if I had the power I’d ban them outright. In this case, there is no question that the existing buildings should have been retained and rehabbed, perhaps as some sort of boutique office space.
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