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  #461  
Old Posted Sep 30, 2019, 11:55 AM
Crawford Crawford is offline
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Originally Posted by Duck From NY View Post
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Whew guy, I almost admire your coping abilities. The idea that developers will give us better designs as a result of a public outcry is laughable and naive.
I think developers give us worse designs when there's forced public input. The major projects designed with heavy public input (say Time Warner Center, WTC, Riverside South, etc.) are almost always decent but forgettable.

In contrast, the projects designed independent of public input (say Hudson Yards, High Line starchitecture, Billionaires Row towers) tend to be spectacular, with a few notable failures. Higher risk, higher reward.
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  #462  
Old Posted Oct 4, 2019, 1:17 AM
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https://therealdeal.com/2019/10/03/h...wn-skyscraper/

Harry Macklowe just got $192M closer to building his Midtown skyscraper
Money comes from Fortress Investment Group






By Eddie Small
October 03, 2019


Quote:
Harry Macklowe just landed a massive refinancing package for his massive Midtown skyscraper plans.

The octogenarian’s company Macklowe Properties landed a roughly $192 million refinancing from Fortress Investment Group for three parcels at 17 East 47th Street, 5 East 51st Street and 12 East 52nd Street, according to property records. The 51st Street and 52nd Street parcels are part of the assemblage Macklowe has been putting together for an office building dubbed “Tower Fifth” that would stand about 1,500 feet tall, span 1 million square feet and likely cost more than $1 billion.

The refinancing includes a new mortgage for about $50 million and replaces a prior $124 million loan, also from Fortress.

Macklowe bought the six-story rental building at 5 East 51st Street from Noam Management in March for $44 million.

Representatives for Macklowe did not respond to a request for comment, and representatives for Fortress declined to comment. It was not immediately clear if 17 East 47th Street was part of his assemblage play as well, as he had initially been targeting 5-9 East 51st Street and 12-20 East 52nd Street.
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  #463  
Old Posted Oct 4, 2019, 7:52 PM
faridnyc faridnyc is offline
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I hope that they will earned more air right to build a supertall around 1650ft
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  #464  
Old Posted Oct 4, 2019, 8:02 PM
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Originally Posted by NYguy View Post
https://therealdeal.com/2019/10/03/h...wn-skyscraper/

Harry Macklowe just got $192M closer to building his Midtown skyscraper
Money comes from Fortress Investment Group






By Eddie Small
October 03, 2019
This has to be typo since 47th St is not contiguous with these parcels, and it's air rights can't transfer to this site.
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  #465  
Old Posted Oct 4, 2019, 8:27 PM
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Originally Posted by JMKeynes View Post
This has to be typo since 47th St is not contiguous with these parcels, and it's air rights can't transfer to this site.
It might be a typo, but probably not. The East Midtown rezoning allows for air rights transfers within the larger East Midtown neighborhood.

St. Patricks, to take an example, could sell its air rights to a new tower on, say, the Pfizer site, on 42nd/3rd. If Macklowe plans a nearly 1,600 ft. tower, it wouldn't be surprising if that incorporates some transferable air rights.
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  #466  
Old Posted Oct 4, 2019, 9:42 PM
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Is 14 E 47th part of the midtown rezoning? I didn’t think that it went
west of Madison, let alone on Madison.
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  #467  
Old Posted Oct 4, 2019, 9:49 PM
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Originally Posted by JMKeynes View Post
Is 14 E 47th part of the midtown rezoning? I didn’t think that it went
west of Madison, let alone on Madison.
The western boundary of the rezoning is the east side of Fifth Ave.

The rezoning covers something like 40th to 59th, and 5th to 2nd Ave. So basically all of Midtown East.
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  #468  
Old Posted Oct 5, 2019, 12:09 PM
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The western boundary of the rezoning is the east side of Fifth Ave.

The rezoning covers something like 40th to 59th, and 5th to 2nd Ave. So basically all of Midtown East.
THanks. THat's very good news. The east side of Fifth has a lot of 1950's/1960's office buildings that I'd love to see come down.
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  #469  
Old Posted Oct 25, 2019, 2:57 AM
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Quote:
LOAN

IMAGE: Harry Macklowe

DATE: 10/03/2019

ADDRESS: 17 East 47th Street, 5 East 51st Street & 12 East 52nd Street

MARKET: Midtown

ASSET TYPE: Office

LENDER: Fortress Investment Group

LANDLORD: Macklowe Properties - Harry Macklowe

LOAN AMOUNT: $192,000,000

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  #470  
Old Posted Nov 5, 2019, 5:27 PM
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https://nypost.com/2019/11/04/macklo...00-foot-tower/

Macklowe bets on lure of new in quest to build 1,500-foot tower


By Steve Cuozzo
November 4, 2019


Quote:
No wonder Harry Macklowe’s pulling out all the stops in his quest to build a 1,500-foot-tall office tower between East 51st and 52nd streets, where he refinanced three small parcels in his assemblage for $192 million last week.

Some “experts” think the city’s office market has more space than it needs, and too much new inventory such as Macklowe’s proposed skyscraper will cause a glut.

But multiple doom-and-gloom scenarios can’t faze the mighty Manhattan office market’s taste for newly built office giants, all of which are either full or on their way to being full.
Quote:
Apocalyptic omens in recent weeks include JP Morgan Chase’s plan to move some employees out of town; WeWork’s near-collapse, which put millions of square feet potentially in limbo; and sagging demand and lower prices for office building purchases, which often reflect falling confidence in the market.

While data from the major brokerages suggest a more nuanced, mixed picture (higher availability, higher rents and increased dealmaking over 2018), I’d like to explore another barometer of long-term market health: the leasing frenzy at expensive, brand-new buildings.

You know — the ones that buildings even 20 years old don’t compare with, thanks to the new generation’s column-free floors, high ceilings, cogeneration facilities, advanced digital infrastructure and energy-efficient environmental features.
Quote:
We tallied current occupancy and lease commitments at 11 major new, ground-up Manhattan office properties that either recently opened or will open soon.

Our sample covered the Durst Organization’s One World Trade Center; Larry Silverstein’s Three and Four World Trade Center; Related Cos.’ 10, 30 and 55 Hudson Yards; Brookfield’s One and Two Manhattan West; SL Green’s One Vanderbilt; and L&L Holding’s 390 Madison Ave. and 425 Park Ave., both of which are all-new despite including some old steel.

Of a total of 20.84 million square feet in all the projects, some 17.6 million square feet — or 84.5 percent — are either occupied by tenants or have signed leases to move there in the immediate future.

Sure, some of them enjoyed tax breaks and other subsidies that were passed on to tenants. But they had to overcome liabilities, too — such as One World Trade’s emotional baggage and politically compromised design, and resistance to moving from Midtown to the Far West Side.
Quote:
Tenants drawn to them (including companies that bought floors as condo units) are a cross-section of the financial, media, tech and legal elite — among them, Condé Nast, Skadden, Carlyle Group, the NHL, TD Bank, Coach Inc., Group M, Point72, Warner Media and Spotify.

The 84.5 percent figure is the more impressive given that buildings with the most floors yet to be leased aren’t finished yet: One Vanderbilt, Two Manhattan West and 425 Park Ave. Prospective tenants are in talks with all three, and the buildings will likely be full or near-full by opening day.
Quote:
The appetite for newly minted office space was reflected in deals signed last week. Uber inked a long-awaited, 300,000- square-foot lease at Three World Trade Center. Also, a new lease for Oak Hill Advisors and an expansion by Carlyle Group added 65,000 square feet of signed-for space at One Vanderbilt, upping the tower’s leased total to 65 percent a full year before it opens.

Our tally didn’t include 50 Hudson Yards, which won’t open until 2022, because its leasing situation’s fluid. Its 2.9 million square feet are 30 percent pre-leased to BlackRock.

But a possible deal with Facebook — which sources say is likely to happen — would up the commitments there to around 70 percent.

Nor did we include The Spiral, Tishman Speyer’s 65-story skyscraper across the street from Hudson Yards because it’s risen barely above the podium level. Pfizer is the anchor tenant and Alliance Bernstein has also signed on.

But if we check out both projects a year from now, we’ll be surprised not to find them as full or near-full as the others.

So it’s little surprise that Macklowe is confident that a $1 billion office tower rising to 1,500 feet in the heart of Midtown East won’t stand empty for long.


Not to mention his tower will have barely a million square feet.
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  #471  
Old Posted Nov 5, 2019, 9:53 PM
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Noooo! It looks like a fatter version of 432 Park but with the top hacked at with a machete!
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  #472  
Old Posted Nov 5, 2019, 9:56 PM
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A permanent scar on the New York skyline... what a shame this is going to happen to one of the greatest man made wonders known to mankind. The people should rally to stop what it'll do. Gonna be hard to conceal a 1600 foot tall turd
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  #473  
Old Posted Nov 5, 2019, 10:02 PM
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I like it, build it! Hope it turns out 2k ft tall! New York is an ugly dirty industrial mess of everything that’s why it’s beautiful
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  #474  
Old Posted Nov 5, 2019, 10:18 PM
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I like it, build it! Hope it turns out 2k ft tall! New York is an ugly dirty industrial mess of everything that’s why it’s beautiful


If they tapered it out and got it to that height..well then I would be GO FOR IT! the machete marks would not really matter that much then.
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  #475  
Old Posted Nov 6, 2019, 3:08 AM
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A permanent scar on the New York skyline... what a shame this is going to happen to one of the greatest man made wonders known to mankind. The people should rally to stop what it'll do. Gonna be hard to conceal a 1600 foot tall turd
Hopefully it will be masked in the future on all 4 sides by 1700 ft+ towers.

Its Midtown though... so I'll explain.

Everything South of 14th Street is refined. A gentleman towns. The real NY experience. Aesthetics at its finest.

33rd Street to 56th Street is the loony bin. Madness, stress, 2+ million folks crammed into 4 square miles. The jungle, the zoo, Bellevue Hospital after a massive Lithium overdose. The Architectural Woodstock Festival.

You might ask where the looney bin HQ is at? That would be Penn Station.

Everything North of 59th Street is refined, calmed down, exclusive. Upper West Side especially with its beutiful and eye pleasing architecture. History, class, Stratton Oakmont.
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  #476  
Old Posted Nov 6, 2019, 3:20 PM
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I agree that this building isnt exactly the best look for midtowns tallest building, but I wouldn't call it ugly. Uninspired? Yes. A bit blocky? Yeah. But it isnt eve close to some of the worst Manhattan is seeing right now, and if built (in its current state) it would, at its worst, bolster the skyline with a big rectangle. The cantilevered bit that looks 'like its been hit with a machete' is not really that hard to look at and breaks up an otherwise boring facade. Is it close to perfect? No, but alot of people seem to really hate this and it just seems unwarrented to me.
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  #477  
Old Posted Nov 6, 2019, 4:13 PM
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I agree that this building isnt exactly the best look for midtowns tallest building, but I wouldn't call it ugly. Uninspired? Yes. A bit blocky? Yeah.
But it isnt eve close to some of the worst Manhattan is seeing right now, and if built (in its current state) it would, at its worst, bolster the skyline with a big rectangle.

They'll love it when it's built, believe me.


Every step closer to getting this built that Macklowe makes is a step closer to me getting up here...




https://www.australiandesignreview.c...econd-tallest/







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  #478  
Old Posted Nov 6, 2019, 5:16 PM
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Originally Posted by NYguy View Post
They'll love it when it's built, believe me.


Every step closer to getting this built that Macklowe makes is a step closer to me getting up here...




https://www.australiandesignreview.c...econd-tallest/









Those holograms still confuse me. Does that technology even exist?
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  #479  
Old Posted Nov 6, 2019, 6:52 PM
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Even the parts that aren't ugly (and that's really just the base) are still just your generic, stainless, glass and marble, cold office design.
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  #480  
Old Posted Nov 6, 2019, 8:33 PM
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Even the parts that aren't ugly (and that's really just the base) are still just your generic, stainless, glass and marble, cold office design.
"MODERN ARCHITECTURE." The beauty of medically sterile architecture. Can't get colder than that LMAO. F**k this building and F**k Macklowe.
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