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  #241  
Old Posted Feb 6, 2019, 5:16 AM
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FEBRUARY 5, 2019


Tower Fifth would rise above the landmarks here...




















As far as the critics of this tower go, there's a slogan for Macklowe just down the street. It's all the advice he needs to get his tower built...







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  #242  
Old Posted Feb 10, 2019, 8:49 PM
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There’s already enough supertalls to balance the skyline. Why doesn’t someone just build a 2,000 footer already. Lower midtown location preferably.

Seems like building anything downtown above 1WTC would be sacrilege.
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  #243  
Old Posted Feb 10, 2019, 10:19 PM
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It'll come in time due. Supply and demand! At the same time, zoning needs to be relaxed too. City needs to grow denser, and taller, but mostly denser.
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  #244  
Old Posted Feb 11, 2019, 1:50 AM
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Originally Posted by liat91 View Post
There’s already enough supertalls to balance the skyline. Why doesn’t someone just build a 2,000 footer already. Lower midtown location preferably.

Seems like building anything downtown above 1WTC would be sacrilege.
The spire of the Freedom Tower has been keeping it above water, but there's already a planned tower down there with a higher roof height (80 South Street).
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  #245  
Old Posted Feb 12, 2019, 6:02 AM
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This is another tower that could possibly move forward without a tenant signing or even just one signing like One Vanderbilt did. But a way to go before we get to that stage. Approvals are just the start.



https://nypost.com/2019/02/11/specul...to-the-market/

‘Speculative’ building is creeping back into the market


By Steve Cuozzo
February 11, 2019


Quote:
A specter is stalking the city’s commercial real estate market — the specter of spec.

Constructing offices without pre-signed tenants, known as “speculative” building, has long been the bane of developers and landlords who weren’t the ones doing the building.
Quote:
Brookfield Property Group plans to build Two Manhattan West (1.9 million square feet) even before inking any deals. BPG Chairman Ric Clark told us, “With the first four million square feet of office space at Manhattan West already 92 percent leased, combined with enormous demand for Two Manhattan West we’ve seen already, we are eager to bring the building on-line as quickly as possible.”

On Monday, Larry Silverstein said he might launch long-stalled Two World Trade Center’s 2.8 million square feet without pre-signed tenants as well.

“I think we’re in an increasingly good spot, in a good position” to do that, he told Bloomberg.
Quote:
According to CBRE, of Manhattan’s total 15.3 million square feet of offices under construction right now, some 3.07 million square feet are speculative — a surprising 20 percent. One reason the phenomenon’s been overlooked is that it’s scattered.

Some 1.17 million square feet of the new spec supply are in eight “boutique” buildings — of which Trinity Real Estate’s 68-74 Trinity Place (310,000 square feet) is the largest.

In Brooklyn, meanwhile, Tishman Speyer’s 10-story The Wheeler, going up on Fulton Street, has 622,000 square feet of first-class space up for grabs.

Several large, proposed Manhattan projects also have spec potential, including Harry Macklowe’s supertall Tower Fifth near St. Patrick’s Cathedral and TF Cornerstone and MSD Partners’ redevelopment of the Grand Hyatt Hotel on East 42nd Street, which would mostly be for offices.

Both projects need public approvals. The developers sound like they’d otherwise start digging tomorrow but have said nothing about tenants.
They didn’t get back to us on whether they’d build without them.

Some projects that aren’t fully spec are almost-spec. SL Green’s One Vanderbilt near Grand Central Terminal is now more than 52 percent leased ahead of its August 2020 opening. Yet SLG had pre-leased a mere 200,000 square feet of a total 1.52 million to TD Bank when it started building.
Quote:
CBRE’s Mary Ann Tighe, who reps 550 Madison, noted that even if all of the potentially spec projects go up, their completions would be stretched out over several years, so their market impact would more than likely be negligible.

She added, “New office buildings [with or without tenants] represent a tiny percentage of the [414-million-square-foot] office market and for good reasons,” including lack of “viable” land, political and neighborhood resistance and sky-high construction costs.

She said that “a spec building is a multibillion dollar gamble and few [developers] have the credibility and staying power for risk on that scale.”

Even so, she said that most tenants of more than 50,000 square feet needing to move choose to relocate to all-new buildings or to major makeovers such as 550 Madison Ave. and 1271 Sixth Ave. “Going spec is rare but usually rewarded unless a development hits during a severe financial downturn,” she said.
Quote:
JLL regional president Peter Riguardi said the notion of a “wave” of spec development “is more smoke than fire.”

He suggested that “some developers say they’re going to do it, to generate interest in projects and get a buzz going” — although he said he wasn’t including Two Manhattan West in that.

The fate of Two World Trade Center, the missing link in the great downtown complex, might be the most intriguing situation. We couldn’t reach Silverstein to expand on his comments.

But, “Larry is a man of his word,” said Durst, who’s the operating partner in One World Trade Center and competes for tenants with Silverstein’s Trade Center towers.
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  #246  
Old Posted Feb 12, 2019, 2:17 PM
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Originally Posted by liat91 View Post
Seems like building anything downtown above 1WTC would be sacrilege.
Or, perhaps no one wants to be the target of the next terrorist attack?
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  #247  
Old Posted Feb 12, 2019, 2:49 PM
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Originally Posted by pianowizard View Post
Or, perhaps no one wants to be the target of the next terrorist attack?
That's ridiculous.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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  #248  
Old Posted Yesterday, 4:19 AM
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FEBRUARY 17, 2019

A walk around St. Patrick's Cathedral, whose air rights may give birth to this tower across the street..

The tower will rise up here above the cathedral.


1.



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5.



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7.




8. The landmarked Look Building, which this tower would also soar over and above...

https://cityroom.blogs.nytimes.com/2...ed-a-landmark/






9.




10. Plenty to look at in Midtown...





11.

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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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  #249  
Old Posted Yesterday, 7:13 PM
The Best Forumer The Best Forumer is offline
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so is this a done deal or wut?
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  #250  
Old Posted Yesterday, 9:26 PM
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Quote:
Originally Posted by The Best Forumer View Post
so is this a done deal or wut?
The approvals process hasn't started.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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