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  #41  
Old Posted Apr 25, 2007, 11:28 AM
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Quote from an article in the Observer
http://observer.com/2007/behold-mini-city-rises

Quote:
Behold, a Mini-City Rises

Though residential use is supposed to dominate the northern and eastern ends of the district, office towers are supposed to be arranged in an “L” shape, north-south along 11th Avenue opposite the newly reborn Javits Center and east-west in the low 30’s. Key to the southern corridor are the Metropolitan Transportation Authority railyards, which have yet to go out to bid.

But it’s telling that two landlords are willing to discuss some details of their projects.

Brookfield Properties, which owns most of the block between 31st and 33rd streets on the west side of Ninth Avenue, is drawing up plans for four towers. Mr. Katz, the president of Sherwood, has come up with a schematic plan for his 11th Avenue parcel to show off to financial companies.

Mr. Katz said he would not start without securing an anchor tenant—which is normal practice for office buildings—but both the Sherwood and Brookfield parcels are large enough to provide the 65,000-square-foot trading floors that investment banks like J.P. Morgan Chase are now looking to build at the World Trade Center site.
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  #42  
Old Posted Apr 27, 2007, 7:24 PM
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2.5 and 1.5 million sq feet. The 2.5 mil is near gauranteed to top 1000 feet. Between this and the going ons of MSG a block away (1360FT, 1200FT), im on overload. This is a skyscraper lovers wet dream contained in 3 continous blocks
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  #43  
Old Posted Apr 27, 2007, 9:24 PM
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Quote:
Originally Posted by Scruffy View Post
2.5 and 1.5 million sq feet. The 2.5 mil is near gauranteed to top 1000 feet. Between this and the going ons of MSG a block away (1360FT, 1200FT), im on overload. This is a skyscraper lovers wet dream contained in 3 continous blocks

And its only a couple of blocks from that planned tower by Sherwood...(and who knows what over the railyards)


(early Sherwood rendering)

It goes on and on...
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  #44  
Old Posted Apr 29, 2007, 1:21 PM
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how many new supertalls are now plannend for midtown?
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  #45  
Old Posted Apr 29, 2007, 5:07 PM
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Originally Posted by ZZ-II View Post
how many new supertalls are now plannend for midtown?
With so many developments underway and in planning stages, its hard to say for sure. But I would put 2 at the MSG site, with maybe one at the Brookfield site, and 1 at the Hotel Penn Site. More on the west side of Manhattan.
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  #46  
Old Posted Apr 29, 2007, 5:22 PM
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Its still too soon to know, but right now it looks like a minimum of 5 1000ft +
Brookfield 1
Sherwood
Penn 1 and 2
Hotel Penn

but mostly speculation, very educated guesses and leaked renders
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  #47  
Old Posted Apr 29, 2007, 5:44 PM
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Quote:
Originally Posted by Scruffy View Post
Its still too soon to know, but right now it looks like a minimum of 5 1000ft +
Brookfield 1
Sherwood
Penn 1 and 2
Hotel Penn

but mostly speculation, very educated guesses and leaked renders
Yeah, the MSG site looks to be the only sure thing as of now. But we are only a few months (possibly weeks) away from confirmation on the others...
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  #48  
Old Posted Apr 29, 2007, 7:09 PM
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Wow... 8-9 new supertalls by 2012?

Combine 5-6 new supertalls in Midtown with WTC's 3 new supertalls (4 almost), you have 8-9 supertalls perhaps by 2013.... incredible!

Now, we'll have to see if the designs for Mid-town are as good as the WTC. With Foster, good chance except we'll be getting two "flat" tops instead of spires for Penn 1 & 2. For Pelli, better chance of getting a lighted crown similar to BofA Charlotte or Intl Finance 2 in Hong Kong. For KPF, hopefully they design like they do for Shanghai & Seoul, Korea with a tapered crown and spire and not a flat top like the Finance Center currently going up in Hong Kong.

Interesting... the possibilities. Overall, the designs by any of the architects should be modern day versions of the ESB, soaring, inspiring towers with lighted crowns & spires... NOT a SOM bland box.
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  #49  
Old Posted Apr 29, 2007, 8:26 PM
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Originally Posted by Adyton View Post
Overall, the designs by any of the architects should be modern day versions of the ESB, soaring, inspiring towers with lighted crowns & spires... NOT a SOM bland box.
I don't think modern day versions of the ESB work well on either of these sites. The design needs to be something that stands out, not another ESB clone. Further over on the west side, maybe. But for MSG, Brookfield, and Penn, too close to the real thing. Maybe one spire out of the bunch.
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  #50  
Old Posted May 1, 2007, 4:27 PM
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Quote:
Originally Posted by Scruffy View Post
Its still too soon to know, but right now it looks like a minimum of 5 1000ft +
Brookfield 1
Sherwood
Penn 1 and 2
Hotel Penn

but mostly speculation, very educated guesses and leaked renders
wow

thank you very much for the info

btw. how many of these tower are acutally Approved?

Last edited by ZZ-II; May 1, 2007 at 4:56 PM.
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  #51  
Old Posted May 1, 2007, 5:58 PM
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that gets more complicated since not all of them require approval. let NYGuy answer that one
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  #52  
Old Posted May 1, 2007, 7:49 PM
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^All of those towers are planned according to what's already zoned for the sites, so no approvals are necessary. However, must developers want to find tenants before starting construction. That's where things stand now...

Quote:
Originally Posted by ZZ-II View Post
wow
thank you very much for the info
btw. how many of these tower are acutally Approved?
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  #53  
Old Posted May 1, 2007, 7:52 PM
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A look again at the zoning for Brookfields large towers...

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Originally Posted by NYguy View Post
More specifics, pages 57-58
http://www.nyc.gov/html/dcp/pdf/hyar...nformation.pdf

Site 729A
Northwest corner of Ninth Avenue and West 31st Street

Ownership: Privately owned
Assemblage required: No

Design Controls: sidewalk widening, ground floor retail and transparency,
street trees, required street wall, required publicly-accessible through-block
passageway
Parking Requirement: approximately 822 spaces

Height Limits: None
Total Lot Area (SF): 128,600
Max. FAR: 19.0
Max. ZFA (SF): 2,443,400

Site Attributes: Convenient access to future mass transit and Midtown;
accommodates large floor plate commercial uses

Site Challenges: Construction of a platform over existing and proposed
below-grade railroad tracks and right-of-way; Below-grade parking
requirement


Site 729B
Southeast corner of Ninth Avenue and West 33rd Street

Ownership: Privately owned
Assemblage required: No

Design Controls: sidewalk widening, ground floor retail and transparency,
street trees, required street wall, required public plaza
Parking Requirement: approximately 516 spaces

Height Limits: None
Total Lot Area (SF): 80,729
Max. FAR: 19.0
Max. ZFA (SF): 1,533,851

Site Attributes: Convenient access to future mass transit and Midtown;
accommodates large floor plate commercial uses

Site Challenges: Construction of a platform over below-grade railroad
tracks and right-of-way; Site geometry; Below-grade parking requirement






Quote:
BROOKFIELD Properties is readying plans for four towers totaling 4.7 million feet at the rear of the Farley Post Office on the west side of Ninth Avenue between 31st and 33rd streets........plans call for the east end of the plot to host two office towers sharing 4 million square feet while the west end will have two residential towers totaling 700,000 feet.

They hope to kick off marketing the northern office tower of 1.6 million square feet within the next few weeks, for delivery in late 2010. That process will begin with the sharing of new renderings now being prepared by Skidmore Owings Merrill.

While there's no anchor tenant yet, Clark said Brookfield is in discussions with "all the usual suspects" and expects rents to start in the $80 range. Would they break ground without an anchor tenant? "Never say never," Clark said. "But we would need to know the Moynihan Train Station was going forward."
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  #54  
Old Posted May 7, 2007, 12:46 PM
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A track level view of the approach into Penn Station. This will be the site of the largest of the development,
Tower 2. The Farley building (future site of MSG) can be seen on the left...




The site of tower 1 also has a little parking. The Farley building is seen on the right...










There's one small building on site. Not sure if it stays or goes, but it wasn't mapped in planning papers...

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  #55  
Old Posted May 8, 2007, 11:29 AM
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Also of note:
http://www.nypost.com/seven/02072007...lois_weiss.htm

BUILDING'S REALLY WIRED
AP'S 33RD STREET HEADQUARTERS SOLD FOR $700M+





BULETTIN: The Daily News Building (above) at 450 W. 33rd St. has been sold.



February 7, 2007 -- SCOTT Lawlor's Broad way Partners have swooped in and tied up 450 W. 33rd St. for north of $700 million.

The chunky former John Hancock Building is being almost entirely recapitalized by Joseph Chetrit and his investors through Douglas Harmon of Eastdil Secured.

A slender tower of about 800,000 feet can be added to the 1.7 million foot chunky, sloping structure that's home to both the Daily News and the Associated Press wire service.

Harmon confirmed to us the deal went to contract but would not discuss any of the details of the complicated transaction.

"They are evaluating how best to maximize the value of the assets," Harmon said of Lawlor's group.

As we revealed in last week's column, the building was on the market but it has become obvious that buyers have to move fast to grab that brass ring.
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  #56  
Old Posted Jul 2, 2007, 12:20 PM
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http://www.therealdeal.net/issues/JU...1183145459.php

Midtown office development outpaces Downtown
Center of gravity for construction shifts north


By Catherine Curan
July 2007


Now that he's assembled a plot encompassing two city blocks at Ninth Avenue from 31st to 33rd streets, Ric Clark, president of Brookfield Properties Corp., is bullish on the prospects for 3.8 million square feet of office space.

Clark is betting on success because his two office towers will rise across from the new Moynihan Station -- and be part of a massive planned redevelopment of Manhattan's far West Side.


Brookfield's project reflects the shifting axis of commercial development in Manhattan. After the attacks of Sept. 11, 2001, with the resulting loss of 15 million square feet of office space Downtown, attention focused on rebuilding there. Since then, however, Midtown has surged and overtaken Downtown in the amount of office space under development.

There are now 13 million square feet under construction or planned Downtown, most of it at the World Trade Center site. However, Midtown, with a flurry of projects -- from the 2.1 million square feet at One Bryant Park announced farther back, to the more recent 1.1 million square feet at 11 Times Square -- totals 16.3 million square feet. Yet more activity is in the works at Hudson Yards, the rail yards in the west 30s.


While both Downtown and Midtown are benefiting from the tight office leasing market with higher rents and lower vacancy (see story on page 20), each area has distinctive features that dictate how much development will occur there, and what type. Downtown's redevelopment is dominated by the World Trade Center site, with Larry Silverstein as the key player. The investment bank Goldman Sachs, meanwhile, is building a new 43-story headquarters tower on West Street near Ground Zero. Last month's announcement that JP Morgan Chase is planning a 42-story skyscraper on the site of the soon-to-be demolished Deutsche Bank building indicates that there will be more office development Downtown, but still not as much as Midtown.

On the whole, though, development Downtown is hampered by the difficulty of assembling a large parcel and the traditional need for government incentives like the ones Chase is said to be pushing for.

Meanwhile, Midtown is poised to outstrip Downtown for the simple reason that there is more land available.

"The West Side keeps inching closer and closer to the Hudson River," says Stuart Saft, a partner at the law firm LeBoeuf, Lamb, Greene & MacRae. "We'll see the kind of development on Ninth Avenue that we saw on Eighth Avenue 20 years ago."

The far West Side can accommodate 24 million square feet of new space, against a projected 15 million for Downtown, according to a 2005 speech by Senator Charles Schumer.

But just because there is the capacity, it doesn't automatically follow that tenants will want to move to the far West Side if projects are built there, much less pay a premium. The Empire State Building's early days as the "Empty State Building" and the World Trade Center are just two major commercial developments that languished at first.

What Midtown developers are basing their bets on are the current sky-high rents. When Douglas Durst's project at One Bryant Park cracked the $100-per-square-foot rental ceiling, developers took notice. Midtown office rents are now averaging $75.48 per square foot, up 32 percent from last year, according to data from CB Richard Ellis.

Harry Macklowe's switch at 510 Madison from residential to commercial is just one high-profile example of a Midtown developer who decided that in today's climate, an office tower made more economic sense.

Overall employment growth is another critical factor for both Midtown and Downtown developers; the New York State Department of Labor forecasts a 6.8 percent increase for the New York City area from 2004 to 2014.

Also, the aging stock of existing space means that tenants are in dire need of high-quality space.

According to CB Richard Ellis, in 2000, 54 percent of office buildings in Manhattan were over 50 years old; in 2010 that percentage will vault to 64 percent. Those pre-Internet office buildings won't be able to keep pace with their tenants' technology needs, and they also lack the latest security and environmentally friendly features.

Most importantly for developers, tenants are willing to pay up for this premium space. And they are particularly interested in eco-friendly buildings even if they cost more, says Brookfield's Clark. Clark is talking with financial services, legal, accounting and entertainment firms about space in his new towers.

"Five years ago, tenants could not care less if you said, 'I want to build an environmentally responsible building, but it will cost a few extra bucks.' They didn't want to hear it," says Clark. "Today it's the opposite. One of the first questions out of a tenant's mouth is, 'What are you doing about green building?' And they are willing to pay a couple of extra bucks."

Construction on his project is slated to begin late next year, and Clark aims to finish the first office tower by 2011. Whether the perfect storm of factors in place now, especially a strong economy, will persist until then is an open question. Clark says he's optimistic, but acknowledges the risks.

"It is sort of a five-year time line," he says. "You never know what happens in Manhattan along the way."
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  #57  
Old Posted Aug 10, 2007, 8:37 PM
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http://www.nypost.com/seven/08102007...eve_cuozzo.htm

SEVEN MANHATTAN DEVELOPMENT PROJECTS TO WATCH

By STEVE CUOZZO
August 10, 2007

HERE are major Manhattan de velopers with planned office building projects that could be affected by credit-market turmoil.

None has signed tenants yet. No construction plans have been filed with the Buildings Dept. except where work has begun as noted.


SJP Properties

The site: 1.1 million square feet under construction at 11 Times Square, on the southeast corner of Eighth Avenue and 42nd Street.

The line: Expected to succeed because of its quality and because it's already out of the ground, so it can draw tenants while demand remains strong.

However, early talks with Australian investment bank Macquarie seem to have sputtered.

Brookfield Properties

The site: Possible buildings comprising 4.7 million square feet on the west blockfront of Ninth Avenue between 31st-33rd streets. No work has started on the project, which must include construction of a platform over the rail yard.

The line: Brookfield won't lift a shovel without tenants.


Vornado Realty Trust

The site: The Hotel Pennsylvania on Seventh Avenue between 32nd-33rd streets, to be demolished for a 2.5 million square foot office tower. The Hotel remains open while Vornado negotiates with Merrill Lynch as a possible tenant.

The line: Vornado chief Steve Roth sat on the Alexander's site for years until he signed Bloomberg LP as a tenant. Expect no less caution here.

Boston Properties

The site: Approximately 900,000 square feet on the east blockfront of Eighth Avenue between 54th-55th streets. Publicly held Boston Properties, in partnership with William Gladstone, have demolition under way with the owners said to be going "full speed ahead" on design plans and negotiating with unidentified possible tenants.

The line: Unlikely to build without at least one tenant.

Boston Prop./ Related Cos.

The site: 840,000 square feet on a portion of the east blockfront of Eighth Avenue between 45th-46th streets. The partnership is waiting to close on several building purchases and also negotiating for additional properties and/or air rights.

The line: Wait and see.

Macklowe Properties

The site: 350,000 square feet under construction at 510 Madison Avenue.

The line: A slam-dunk, even though no tenants have yet been announced. Super-luxurious "boutique" building with small floors will easily draw hedge funds and the like.

Macklowe Properties

The site: Potentially 1 million-plus square feet at 440 Park Avenue, the former Drake Hotel, which is now being demolished.

The line: A mystery. Great location, but rents will be astronomical.
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  #58  
Old Posted Aug 10, 2007, 8:48 PM
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After reading this I am begining to get worried that 3/4 of the supertalls planned on the Westside won't be built. Though it is too early to determine, from reading this, I have concluded that the most important thing for these companies (Vornado, Brookfield, Macklowe, & Boston prop.) to do is to nail down tenants to get these projects off the ground.

I for one cannot blame them. Building an office tower without the confirmation of tenants is a tremendous risk (even with the commercial market being what it is presently, you just never know).

I understand on the financial aspect, but as someone who loves Manhattan and skyscrapers, the lack of confidence is somewhat of a disappointment.

On a more brighter note, I am excited that the towers planned to go up in Mid-Town seem to be on their way. And as for the Westside, it is still too early to determine what will happen. Things can change very quickly.
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  #59  
Old Posted Aug 10, 2007, 9:06 PM
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Quote:
Originally Posted by Dac150 View Post
After reading this I am begining to get worried that 3/4 of the supertalls planned on the Westside won't be built. Though it is too early to determine, from reading this, I have concluded that the most important thing for these companies (Vornado, Brookfield, Macklowe, & Boston prop.) to do is to nail down tenants to get these projects off the ground.
Why? These buildings aren't going to get built without first getting tenants, regardless. What Cuozzo is trying to say is that its worth watching now to see how soon these developments will move forward. Obviously, some would move forward sooner than others.
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  #60  
Old Posted Aug 10, 2007, 9:08 PM
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So how will caissons, foundations, etc. be laid around the tracks?
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