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  #181  
Old Posted Feb 28, 2008, 3:14 AM
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enough of my nativist ramblings.
Yeah, enough of that midwestern nonsense...
This is the New York arm of the forum.
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  #182  
Old Posted Feb 28, 2008, 11:31 AM
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I like this headline...
http://www.theglobeandmail.com/servl...Story/Business

Brookfield passes on N.Y., but likes L.A.

LORI MCLEOD
February 28, 2008

Brookfield Properties Corp. has backed off from the race for rights to Manhattan's largest building development site, but says while it is still loves New York it is also becoming excited about the lure of Los Angeles.

Brookfield, which was brimming with enthusiasm for the project just a few months ago, was the only one of five bidders that did not submit a second-round offer Tuesday for the $12-billion (U.S.) project to develop a swath of rail yard along the Hudson River. Instead, it will focus on its nearby $600-million office tower development, along with buying opportunities being shaken loose as debt-heavy real estate owners deal with the global credit crunch.

Technically, Brookfield's first-round bid remains on the table, but its chances of success are slim since bidding has moved on to a second round.

"The question is, do you allocate a big pile of capital in one specific area, or do you spread it out a little bit?" Ric Clark, Brookfield Properties' chief executive officer, said in an interview.

One potential takeover target on the market right now is Maguire Properties Inc., the largest downtown landlord in Los Angeles. Debt-heavy Maguire, with a market capitalization of $1.14-billion, embarked on a strategic review late last year. Disgruntled investors are trying to force a sale.

Brookfield Properties already has a toehold in downtown L.A. as the owner of three office towers obtained through the acquisition of Trizec Properties Inc. in October, 2006.

Mr. Clark declined comment on whether Brookfield Properties is interested in Maguire, but said the company is excited about L.A.

"Over 20 years people would say, 'We're building this new transit hub that's going to transform the city, or we're building the Staples Center or the Disney Center,' and never could one of those things do it. Now we're at a point where the sum of the parts is a very interesting thing for downtown Los Angeles," he said.
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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.
     
     
  #183  
Old Posted Feb 28, 2008, 12:01 PM
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Could the NBA try it again?
http://www.nypost.com/seven/10032007..._do.htm?page=0

WELL, HOOP-DE-DO
NBA SCOUTING MANHATTAN SITES FOR OFFICES





October 3, 2007 -- THE National Basketball Association may be trying to bounce back to the Big Apple.

We've learned that the league is scouting locations through Barry Gosin and Moshe Sukenik at Newmark Knight Frank. A company spokeswoman declined comment.

In 2001, we told you the NBA was trying to cut a deal to become the anchor tenant for a new tower on Ninth Avenue, in which the league would consolidate its Olympic Towers office at 645 Fifth Ave. with its larger, Secaucus, N.J., office, bringing the jobs to the city. But the pre-9/11 city balked at big tax breaks and the NBA dug into Jersey.

According to CoStar Group data, the NBA currently has about 162,415 feet overlooking St. Patrick's Cathedral in Olympic Tower, plus its giant NBA store up the block at 666 Fifth Ave.

Its Olympic Tower lease expires on July 1, 2010, as does a new sublease for 18,273 at 477 Madison Ave. In Secaucus, its lease for 218,560 feet at 450 Harmon Meadow Rd. ends on June 21, 2011.

___________________________________

BLAST FROM THE PAST
http://query.nytimes.com/gst/fullpag...56C0A9679C8B63

Unhappy With City Tax Breaks, N.B.A. Drops Move to West Side

By CHARLES V. BAGLI
May 25, 2001


The National Basketball Association's plans to move its headquarters to a site at Ninth Avenue and 33rd Street behind the Farley Post Office died this week after the city declined to provide a large enough package of tax breaks, executives involved in the negotiations said.

That does not mean that the New York Knicks have lost interest in the site. The Cablevision Systems Corporation -- which owns the Knicks, the Rangers and Madison Square Garden -- is considering the site, among others, for a new arena.

The site is in the semi-industrial neighborhood that is awash in proposals for Olympic stadiums, skyscrapers and the expansion of the Jacob K. Javits Convention Center. With few development sites available elsewhere in Manhattan, builders and city officials view the far West Side as their next frontier.

The basketball league had planned to move from the Olympic Tower on Fifth Avenue to a proposed office tower on the Ninth Avenue site, which is controlled by Harvey Schulweis. The association also planned to move nearly 500 employees at N.B.A. Entertainment from Secaucus, N.J., to the tower.

As part of the deal, Mr. Schulweis needed the city to extend a 1990 special permit for a one-million-square-foot tower, which is to expire next month. The league wanted a steep property tax break as well as the elimination of sales and mortgage recording taxes. The league had planned to take about half the space in the proposed building.

The site is at the northern end of a block on the west side of Ninth Avenue, from 31st to 33rd Street. Since part of the block is over a railroad track, the developer would have to build a platform, which could cost $40 million.

Last week, real estate executives and city officials said, the City Economic Development Corporation told the league that it was willing to give the project a sales tax break and a limited property tax abatement, but that it could not be as generous as the league had hoped. A few days later, the league decided it was not enough, they said.

Mr. Schulweis, who heads a partnership that has controlled the site for nearly 15 years, would not discuss his talks with the league.

''I'm moving ahead as best I can to wind up with a completed building and a tenant,'' Mr. Schulweis said. ''The N.B.A. was an option that may or may not materialize.''

Michael Bass, a spokesman for the league, said the city's tax offer was not ''of a sufficient magnitude'' to make the project workable. ''We're still looking for a way to consolidate,'' he said. Two executives involved in the negotiations with the city said the league was considering whether to expand at or near its offices in Secaucus.

One city official said the city was unlikely to extend Mr. Schulweis's permit if the league dropped out of the project.

_____________________________________________

http://www.observer.com/node/44399

N.B.A. Scoreless in Bid To Get New Headquarters


by NYO Staff
May 13, 2001

While the playoffs dribble on (sans the New York Knicks), the National Basketball Association is looking for a new court. Positioning itself as the star tenant in an office tower proposed by Schulweis Realty and Tishman Speyer, the N.B.A. joined a team of lawyers and developers for a game of 5 on 50 at Board 4's May 2 meeting.

Their hope? To score enough points with the community to win an extension of the existing permit for development of a building over a railyard platform at the southwest corner of Ninth Avenue and 33rd Street.

....But while it's pending before City Planning, the developers also had to make their case to Board 4, which has an advisory role in the process. And that proved almost as challenging as actually erecting a tower above a 22-acre cavern created by a rail cut-through.

Board 4 never supported the proposal when it was first floated a dozen years ago, and this time around the members again gave a cold shoulder to Schulweis Realty's lawyers, from Rosenman & Colin, who re-pitched the plan to them on May 2.

Even before its monthly meeting, the board had drafted a letter to the City Planning Commission urging rejection of the proposal. Edward Kirkland, chairman of the board's preservation and planning committee and a board member for 16 years, told The Observer, "We did not oppose [it] strongly before, but we did have concerns-mostly traffic and displacement of residents living in neighborhood rooming houses."

Attorney Michael Sillerman, of Rosenman & Colin, told the board members that the developers' request was not extraordinary. "There is reasonable land-use rationale," he said. "Half of this 80,000-square-foot site is vacant, and the rest of it requires money and risk-taking." He concluded by mentioning the difficulty of building over a railyard, apparently alluding to the amount of time it has already taken just to get to the actual construction.

The N.B.A. now operates from multiple offices, Mr. Benjamin told the board; Fifth Avenue is home to the corporate headquarters, while entertainment production takes place in Secaucus, N.J. Mr. Benjamin called the arrangement "inefficient" and inadequate for the 21st-century needs of professional sports organizations.

"You think of the N.B.A. as a league that plays basketball," Mr. Benjamin said, "but we and other sports leagues have become major entertainment entities." Sensing he had not quite scored, Mr. Benjamin took another shot: "We're losing our creative juices when we're not all under one roof."


Though consolidating in the Garden State is an alternative, the Association prefers to be near Madison Square Garden,
or at least in Manhattan.
(The proposal has no relationship to the many plans swirling around to move the Garden, move Penn Station or build an Olympic, Jets or baseball stadium in the neighborhood.)

When a board member suggested browsing other boroughs, Mr. Benjamin jumped in, saying: "The N.B.A. would not be interested, with all due respect to Staten Island and Brooklyn, because so many employees live in New Jersey."

Board member Ross Graham rebounded: "At the risk of the wrath of my family, maybe we should let you go to New Jersey." The crowd went wild.

She added: "Even the N.B.A. is not really worth a special permit. They'll probably get it anyway, but we don't have to help them." All but six members of the Board agreed, passing the motion to send the letter expressing their disapproval to the City Planning Commission.
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  #184  
Old Posted Feb 28, 2008, 11:59 PM
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A comparison of the Brookfield and west side railyards from High Line

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  #185  
Old Posted Feb 29, 2008, 7:26 PM
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What is that gigantic 15-20 story building near the bottom of the pic. it takes up the whole block. that has to be 2-3 mil sq feet. that's a big block. i don't know why ive never noticed that one before
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  #186  
Old Posted Feb 29, 2008, 7:29 PM
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Originally Posted by NYguy View Post
I like this headline...
http://www.theglobeandmail.com/servl...Story/Business

Brookfield passes on N.Y., but likes L.A.

LORI MCLEOD
February 28, 2008

Brookfield Properties Corp. has backed off from the race for rights to Manhattan's largest building development site, but says while it is still loves New York it is also becoming excited about the lure of Los Angeles.

Brookfield, which was brimming with enthusiasm for the project just a few months ago, was the only one of five bidders that did not submit a second-round offer Tuesday for the $12-billion (U.S.) project to develop a swath of rail yard along the Hudson River. Instead, it will focus on its nearby $600-million office tower development, along with buying opportunities being shaken loose as debt-heavy real estate owners deal with the global credit crunch.

Technically, Brookfield's first-round bid remains on the table, but its chances of success are slim since bidding has moved on to a second round.

"The question is, do you allocate a big pile of capital in one specific area, or do you spread it out a little bit?" Ric Clark, Brookfield Properties' chief executive officer, said in an interview.

One potential takeover target on the market right now is Maguire Properties Inc., the largest downtown landlord in Los Angeles. Debt-heavy Maguire, with a market capitalization of $1.14-billion, embarked on a strategic review late last year. Disgruntled investors are trying to force a sale.

Brookfield Properties already has a toehold in downtown L.A. as the owner of three office towers obtained through the acquisition of Trizec Properties Inc. in October, 2006.

Mr. Clark declined comment on whether Brookfield Properties is interested in Maguire, but said the company is excited about L.A.

"Over 20 years people would say, 'We're building this new transit hub that's going to transform the city, or we're building the Staples Center or the Disney Center,' and never could one of those things do it. Now we're at a point where the sum of the parts is a very interesting thing for downtown Los Angeles," he said.
This opinion doesn't suprise me.

L.A. is like dormant phoenix awakening!!!
After nearly 100 years since the automobile rush began, our city will soon rise from the ashes of suburbia!!!


Although, I would've liked that rail station to be gone. Same way with Taylor Yards back home. I think most of it should be underground to allow development to commence.
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Last edited by JDRCRASH; Mar 1, 2008 at 5:18 AM.
     
     
  #187  
Old Posted Mar 1, 2008, 1:08 AM
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Quote:
Originally Posted by Scruffy View Post
What is that gigantic 15-20 story building near the bottom of the pic. it takes up the whole block. that has to be 2-3 mil sq feet. that's a big block. i don't know why ive never noticed that one before
You mean the post office?
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  #188  
Old Posted Mar 1, 2008, 7:45 AM
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Is that what that is? damn, i didn't know their facilities were that big. I just thought that farley building was the whole thing. i was wondering where they were planning on moving to. That is a big building
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  #189  
Old Posted Mar 1, 2008, 12:27 PM
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Originally Posted by Scruffy View Post
Is that what that is? damn, i didn't know their facilities were that big. I just thought that farley building was the whole thing. i was wondering where they were planning on moving to. That is a big building
Yeah, that's the Morgan building, where most of the operations from Farley moved (they're both connected by an underground tunnel. Read here). As a matter of fact, the current Penn Station proposal calls for adding 2 new floors to the Morgan building as well.
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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.
     
     
  #190  
Old Posted Apr 14, 2008, 5:40 PM
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Quote from the NY Times...
http://www.nytimes.com/2008/04/14/ny...pagewanted=all


By CHARLES V. BAGLI
April 14, 2008

At Ninth Avenue between 31st and 33rd Streets, Brookfield Properties also plans to start work in June on a $600 million platform for two large office towers. The developer is talking to Condé Nast Publications about being the anchor tenant, although the project could be delayed if nothing happens with the Moynihan project.
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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.
     
     
  #191  
Old Posted Apr 14, 2008, 7:24 PM
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That's intense, but Goddamn Moynihan. I swear to god, if that doesn't come through, the whole New York subsection of this forum is just going to shut down.
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  #192  
Old Posted May 9, 2008, 3:06 PM
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This should be moved to the supertall proposals.
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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.
     
     
  #193  
Old Posted May 10, 2008, 4:20 AM
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The developer is talking to Condé Nast Publications about being the anchor tenant
... Condé Nast is already the anchor tenant of 4 Times Square, a building with a strong image and a prominent location.
Hopefully, they're not leaving Times Square but only expanding.
     
     
  #194  
Old Posted May 10, 2008, 8:26 PM
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... Condé Nast is already the anchor tenant of 4 Times Square, a building with a strong image and a prominent location.
Hopefully, they're not leaving Times Square but only expanding.
It doesn't matter, companies leave locations all the time. Just look at JP Morgan Chase and 60 Wall, US Steel and 1 Liberty Plaza, the list goes on.

I wouldn't mind if Conde moves out because that would not only supply an anchor tenant for Brookfield, but would also allow more companies to move into Times Square. 4 Times Sqaure will NOT go vacant if Conde left. The space would fill quick.

Same deal if the News Corporation was to move off of 6th.
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  #195  
Old Posted May 10, 2008, 10:24 PM
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... Condé Nast is already the anchor tenant of 4 Times Square, a building with a strong image and a prominent location.
Hopefully, they're not leaving Times Square but only expanding.
Their plan was to move their headquarters into another Durst building, proposed for the west side railyards. But Durst lost that bid to Tishman. Like their move to Times Square, Conde Nast wants to be among the first to move to the west side, so this would be a good move for them.

Quote:
http://www.nytimes.com/2007/10/06/ny...l?ref=nyregion

Morgan Stanley and Conde Nast Bid for Railyards

By CHARLES V. BAGLI
October 6, 2007


Conde Nast Publications, the magazine publisher, is considering moving its headquarters from the heart of Times Square to a new tower over the railyards. Conde Nast signed an agreement earlier this week with a joint venture of the Durst Organization and Vornado Realty Trust, which plans to bid for the development rights on Thursday.

“We’re excited about participating in this with the Durst Organization,” said John Bellando, chief operating officer at Conde Nast. “We see this as an opportunity to secure prime space in this development.”

Under the Conde Nast agreement for the West Side, the publisher would move its stable of 27 magazines to a 1.5 million square-foot skyscraper that would sit on a platform on the east side of 11th Avenue. The move would allow the company to consolidate operations now spread across several buildings and bring about 3,500 employees under one roof.

Mr. Bellando of Conde Nast said that if his company moved, he has no doubt that it would be replaced by a “Grade A” tenant.
I guess once the move was put in motion, Conde Nast made the decision to move (somewhere) final.
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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.
     
     
  #196  
Old Posted May 12, 2008, 5:43 PM
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I would be great if Conde Naste did move in to the glass beerbelly towers of Manhattan West. Brookfield always said that they were not going to move foward on the project until they have an achor tenant. So there annoucement to start working on the platform this summer might mean a major annoucement is imminent
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  #197  
Old Posted May 13, 2008, 9:02 PM
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Originally Posted by Scruffy View Post
I would be great if Conde Naste did move in to the glass beerbelly towers of Manhattan West. Brookfield always said that they were not going to move foward on the project until they have an achor tenant. So there annoucement to start working on the platform this summer might mean a major annoucement is imminent
It was also stated that Conde declined to become a tenant for Tishman (who's now out at the west side yards), so things could become interesting there again, and Conde could be back on that bandwagon.
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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.
     
     
  #198  
Old Posted May 15, 2008, 7:08 AM
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Quote from an article in therealdeal.com
http://ny.therealdeal.com/articles/n...ve-easier-time

Next Hudson Yards developer could have easier time

By Alec Appelbaum
5/14/08


Brookfield Properties, which is building a three-acre site near Hudson Yards that it calls Manhattan West on a deck from Ninth to Dyer avenues and from 31st to 33rd Streets, dropped out before the second round of bidding began. Spokeswoman Melissa Coley said pre-construction work on the deck has begun, with plans to start construction next month and finish by as early as 2013. The project could contain 5.4 million square feet with a mix of uses, she said.
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  #199  
Old Posted May 15, 2008, 11:34 AM
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2013? just 5 years away. Ok, so 5 years isn't all that soon but if construction of the deck starts next month that would be very soon.
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  #200  
Old Posted May 15, 2008, 2:39 PM
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2013? just 5 years away. Ok, so 5 years isn't all that soon but if construction of the deck starts next month that would be very soon.
I think that 2013 target date is just a way of competing with the WTC. No one ever says 2014, even if the difference is just a matter of months.
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