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  #81  
Old Posted Mar 27, 2014, 1:52 PM
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Originally Posted by NYguy View Post
It doesn't really tell me anything because we never had any concrete plans to see. As I said, this particular lot contributed to the overall development, and I'm assuming footprint. It was for sale the last time I saw it, so I can't say exactly what has changed. Maybe some of the other properties are in play, who knows? Anyway, we'll see what happens or doesn't happen.
I just found it interesting that the property went from 'for sale' to 'in contract' and now back to 'for sale' status on the website. I would have expected it to be 'sold' if things were going as planned but it is pure speculation on my part. Anyway, there are other two buildings going up on Fulton so the area will have a busy summer.
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  #82  
Old Posted Mar 28, 2014, 1:01 AM
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I just found it interesting that the property went from 'for sale' to 'in contract' and now back to 'for sale' status on the website. I would have expected it to be 'sold' if things were going as planned but it is pure speculation on my part. Anyway, there are other two buildings going up on Fulton so the area will have a busy summer.
Yeah, those other towers going up, with more residential development coming up in the area. If this tower isn't built as planned, no doubt another tower will rise here.
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  #83  
Old Posted Jun 12, 2014, 4:18 PM
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Another transaction in FiDi.
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Fisher Brothers has picked up a development site at 92 Fulton Street from an LLC for $10 million, according to property records.

It was previously widely reported that The Mavrix Group was planning to build a 51-story ODA-designed condominium building at the site between Gold and William Streets, but Mavrix never closed on the site, according to Ariel Property Advisors‘ Michael A. Tortorici, who represented the seller and procured the buyer along with Ariel’s Howard Raber, Shimon Shkury, Victor Sozio and Randy Modell. The roughly 25-foot-wide vacant lot offers a total of 29,890 buildable square feet, including air rights.

“[The sellers] bought the note at a good time in the market and were able to realize a nice gain and took advantage of it,” Mr. Tortorici said.

Ariel marketed the site, which the sellers obtained through a foreclosure process, for 18 months. The initial asking price was $7.5 million, Mr. Tortorici said.

The sale closed last Tuesday and appeared in public records on Friday.

Fisher Brothers declined to comment.
http://commercialobserver.com/2014/0...-site-for-10m/
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  #84  
Old Posted Jun 12, 2014, 4:29 PM
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delete

Last edited by Perklol; Jun 12, 2014 at 8:46 PM.
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  #85  
Old Posted Jun 12, 2014, 8:37 PM
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Permits were filed for the construction of a 16-story residential building at 92 Fulton Street, Thursday’s property records indicate. The new proposal, however, is a dramatic revision from prior plans for the site.
Those plans at one point included the construction of a 51-story tower, to be built by the Mavrix Group and designed by ODA Architecture. An earlier plan for a residential development on the property featured a 22-story building with podium units and an outdoor communal pool. Those proposed designs envisioned a building ranging in size from 22,000 square feet to 250,000 square feet.
The newly filed permits call for a mere 18,520-square-foot development. That plan includes 650 square feet of commercial space and 17,870 of residential space.
Fisher Brothers bought the site, a 26-foot wide, 2,189-square-foot vacant lot between Gold and William streets in the Financial District, earlier this month for $10 million. The seller was 92 Fulton Partners LLC.
Mavrix had been looking to purchase seven parcels of land in the area, with an eye toward finishing 92 Fulton in 2015. But those plans did not materialize.
Mark Ginsberg, of Curtis and Ginsberg, is the current architect on record. He declined to comment on any details about the revised development.
http://therealdeal.com/blog/2014/06/...fulton-street/
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  #86  
Old Posted Jun 12, 2014, 8:46 PM
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Wow really? I deleted my comment.
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  #87  
Old Posted Jun 12, 2014, 9:45 PM
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Wow really? I deleted my comment.
Why, what did you say?
Regarding the newly filed permits, it all may be some kind of tactics to pressure the owners of the adjacent 90 and 92 fulton street buildings to lower their asking price in case they wanted too much or quickly flip the property for hefty profit to another developer. Just my 2 cents
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  #88  
Old Posted Jun 13, 2014, 5:29 PM
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Why, what did you say?
Regarding the newly filed permits, it all may be some kind of tactics to pressure the owners of the adjacent 90 and 92 fulton street buildings to lower their asking price in case they wanted too much or quickly flip the property for hefty profit to another developer. Just my 2 cents
I said that I was glad that real deal real estate teams would build something decent here. (700' +) I deleted the comment after seeing the 18 story permit.

But I do agree that this is some trick to get the nearby owners to sell properties for a lower prince.
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  #89  
Old Posted Mar 24, 2015, 9:35 PM
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Smile NEW YORK | 130 William Street | 800 FT | 61 FLOORS

Lightstone Plans 50-Story Condo/Hotel for 130 William Street, Financial District

Current Site:



Quote:
There, at 130 William Street, the development firm is planning to erect a 50-story hotel and condo tower, according to plans filed with the Department of Buildings this afternoon, submitted by Goldstein, Hill & West Architects.

The skyscraper would reach 581 feet into the air, according to the filing, and include 188 apartments – likely condos – perched above an unspecified number of hotel rooms. The first and second floors would house retail, with the third through fifth floors set aside for residential and hotel amenity spaces. The hotel rooms would start on the sixth floor and reach through to the 17th, after which a mechanical floor would buffer the short-stay rooms from the permanent apartments.

Starting on the 19th floor, we find the apartments, with six units on each level up through the 49th floor (with the 34th floor set aside for residential amenities). There would then be one final apartment on the penthouse level, taking up the whole 50th floor. In total, the 188 apartments would be spread over 236,000 square feet of residential space, for an average unit size of over 1,250 square feet, strongly hinting at condos.

The hotel and retail space, meanwhile, would total 101,000 square feet.
The assemblage sits around, but not on, the corner of Fulton and William streets, stretching from 130 William Street south of Fulton (which Lightstone acquired earlier this year for $60 million) around to Gold Street and Fulton, but does not include 138 William Street, at the corner with Fulton.
Fisher Brothers owns 92 Fulton Street in the middle of the assemblage, having bought the site last June for $10 million. This could mean that they’re a partner in the development, or that they merely intend to sell the site to Lightstone.
==================================
http://www.yimbynews.com/2015/03/lig...-district.html
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  #90  
Old Posted Mar 24, 2015, 10:25 PM
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Nice! ~600ft is a good height for the area.
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  #91  
Old Posted Aug 6, 2016, 12:34 PM
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Credit: rbrome
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  #92  
Old Posted Nov 15, 2016, 1:12 AM
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  #93  
Old Posted Nov 15, 2016, 8:11 PM
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Permits are indicating a height of 750 ft at 61 floors.
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  #94  
Old Posted Nov 15, 2016, 8:32 PM
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http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01

Quote:
Building Height (ft.): 750
Building Stories: 61
Dwelling Units: 188
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  #95  
Old Posted Nov 16, 2016, 11:49 PM
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this one looks modern "jenga-tower-ish" . .
even a bit "machine for living" . .
of the two renderings, I like the darker one . .
750 & up, is a good height for financial district . .
581 ft.tall (quoted above in article), is a bit short . .
depending on the topography around it, of course . .

adding too many more mid-sized towers into the FD, . .
merely crams out views of its more impressive, important spires
. . and robs them of visual soar . .
Though I love tall-tower-clusters, . .
filling-in the lower half, of the thicket's in-between cracks,
eliminates the contrast, harshens the cozy medieval vibe . .
and increasingly kills rare tower-defining aura-space . .
More square-footage mediocrity, troweled into the tight downtown skyline . .
might be better situated elsewhere . .
(actually the 250-550 ft. stuff is more the clutter I'm referring to) . .

anyway . . looks like there's some design here . .
not exactly imposing . . Then again, besides Gehry, 99 Church,
tower one, the Calatrava cathedral, the deco towers, . .
not much new stuff downtown is all that visually remarkable . .
but it is nice that things are happening . . and it's fun to evaluate . .
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  #96  
Old Posted Dec 1, 2016, 12:13 AM
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  #97  
Old Posted Jan 19, 2017, 5:05 AM
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  #98  
Old Posted Mar 13, 2017, 11:46 AM
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http://www.crainsnewyork.com/article...alert-20170310

Developer secures $300 million for downtown Manhattan condo project
Lightstone Group plans to build an 800-foot-tall spire at 130 William St.



Daniel Geiger


Quote:
The Lightstone Group secured a $305 million loan to build an 800-foot-tall condo tower in lower Manhattan.

The company sourced the construction loan from Mack Real Estate Credit Strategies, a specialty lender. With financing in place, the tower will begin rising at 130 William St. in September, Mitchell Hochberg, the president and chief operating officer of Lightstone told Crain's. The project, which will likely be completed by fall 2019, will cost about $600 million to erect.

Developers across the city have raced to construct condo spires with apartments costing millions of dollars apiece. With so many similar projects on the market, observers feel there is a glut of pricey units and developers will have to slash prices to sell apartments, possibly thrusting projects into financial turmoil.

Hochberg said 130 William St. will be different. Lightstone worked through a complex process of assembling several properties to create the development parcel and the firm was able acquire the sites for below-market land prices, giving it leeway to sell the units in the building at a lower price than the competition.

"I think the high-end market is challenged right now," Hochberg said. "But we do think that if you're priced well, which we think we will be, and located well and deliver a product that has value and good design, there's always going to be a lot of people who are interested in buying."

Lightstone aims to sell units at an average of about $2,000 per square foot, a high price tag but still below the $3,000-plus per foot that other luxury projects are seeking.

Half of the building will also be comprised of studios and one bedrooms, smaller apartments that will carry a lower price and will be accessible to a broad range of buyers.


"You have a lot of young, single people downtown and moving to the neighborhood because it's developing as a community and it's more affordable," Hochberg said.

Major banks have pulled back from financing condo developments as concerns about supply have grown. Richard Mack, a real estate investor who founded Mack Real Estate Credit Strategies in 2014, said he felt comfortable lending to Lightstone because of 130 William St.'s lower price points and the developer was putting in half the money for the project in equity. Mack founded his firm when he saw a pullback in lending at the time and an opportunity for specialty financiers.

"Even if the condo market continues to turn downward, we felt comfortable," said Mack, noting that the building could sell out for as low as $1,000 a foot and his firm would still recoup its loan. "This is a strong sponsor with the balance sheet and the acumen to complete this project successfully."

Lightstone initially planned to build a 500-foot tall tower at the site but recently reversed course in favor of a much taller spire.

"We wanted our building to have spectacular views," Hochberg said. "Residents will be able to see the East and Hudson Rivers and the Statue of Liberty. It's a 360-degree panorama."


Most super tall towers have featured ultra-pricey penthouses that cost much more per square foot than lower units. "We'll have a number of beautiful penthouses but they're not going to be even close to the numbers for the rock star penthouses you hear about in places like Billionaire's Row," Hochberg said.

Lightstone is in the process of choosing an architect and finalizing the design for the project.
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  #99  
Old Posted Mar 14, 2017, 12:56 AM
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  #100  
Old Posted Apr 7, 2017, 3:29 AM
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