JPMorgan Chase plans new Manhattan headquarters
by Nathaniel Meyersohn @CNNMoney
February 21, 2018: 12:08 PM ET
JPMorgan Chase is building new headquarters in an old spot.
The bank plans to tear down its 50-story building on Park Avenue in New York and replace it with a 70-plus-story skyscraper at the same address . . . .
Construction is expected to begin in 2019 and will take five years. Most employees at headquarters will be relocated nearby during construction.
JPMorgan said the project will create 8,000 construction-related jobs.
The building will be the first major project under Manhattan's new East Midtown rezoning plan. Under the rezoning, JPMorgan must purchase development rights for nearby buildings and help improve streets, pedestrian plazas and transportation . . . .
Cornell Realty Management plans to construct a mixed-use project in Williamsburg split between residential and hotel space.
The project from Isaac Hager’s company would be a 26-story building at 159 Broadway with 21 residential units, according to plans filed Thursday with the city’s Department of Buildings. It would stand 277 feet tall and span just under 96,000 square feet, with 77,000 square feet of commercial space and 18,000 square feet of residential space.
The Williamsburghotel was previously planned for the site, which would have stood 26 stories and 264 feet tall with 13 residential units, according to DOB filings.
Cornell paid approximately $26.2 million for the site in November, according to property records. The company did not respond to a request for comment.
Having finalized its acquisition of the site, which features approximately 150,000 buildable square feet, the NoMad-based development firm has drawn up plans for two luxury residential condo buildings, designed by architecture firm DXA Studio, that will be connected via a landscaped courtyard and feature views of the Hudson River.
The developer purchased the garages, at 620 West 153rd Street, from Verizon, which was using the site to store its service vehicles, the Commercial Observer reported. Anbau will allow Verizon to park its vehicles at the new condo buildings in a separate area from resident parking.
The buildings will feature a total of 150 units, which will likely range in price from below $1 million to $3 million.
Glascock said the two planned condo buildings would likely hold around 150 units combined, with prices for the all-market-rate units likely to range from below $1 million to up to $3 million. Anbau, which financed its acquisition of the site with a pre-construction bridge loan from Goldman Sachs, expects to begin work on the project within the next six months with a view to completing the development in the next two to three years, he added.
The taller one is about... 35 floors then... not bad.
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Designed by ODA Architecture, the 12-story, mixed-use building will contain 72 residences, ground floor retail, a community facility, and an enclosed parking structure with accommodations for 16 vehicles.
In total, the new building will comprise almost 95,000 square feet, with a total of 87,245 square feet of residential area. The ground floor commercial will measure 7,034 square feet, and the community facility will comprise 480 square feet.
The building will replace the 150-year-old Church of Redeemer, demolished in 2016. The historic, albeit non-landmarked, Gothic-revival was determined to be structurally unsound in a private forensic analysis, and was too costly for the Episcopal Diocese of Long Island to repair, as required.
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"Then each time Fleetwood would be not so much overcome by remorse as bedazzled at having been shown the secret backlands of wealth, and how sooner or later it depended on some act of murder, seldom limited to once."
Does anyone have a good idea how much the steel tariffs will increase to the cost of 20-30 story buildings? A group of us on the Salt Lake City thread are concerned a few of our proposed buildings may go down in flames now. My understanding is that more and more countries have been exempted from the tariffs so maybe it won't be a big killer. If anyone has a good idea and not a guess, please let me know or post the info on the Salt Lake thread.
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