Thankfully this design wasn't chosen. I hope when this property is redeveloped they keep the street wall along Central Park South. I think 220 CPS did a fairly good job of this.
That is a must here.
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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.
That's why an architect like Stern would be ideal here. If you look at the lot he can do something like 220CPS and have a motor court on 58th street, have a midrise on CPS to preserve the streetwall, and a skinny tower behind it.
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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.
New York's Park Lane Hotel Can Be Sold After Jho Low Drops Claim
By Edvard Pettersson
November 16, 2018
Quote:
The Park Lane Hotel in New York City can be sold to Abu Dhabi’s state-owned Mubadala Investment Co. after fugitive Malaysian financier Low Taek Jho agreed to drop his claims to the property in a U.S. forfeiture lawsuit.
The U.S. Justice Department has been trying to seize Low’s stake because he allegedly bought it with money stolen from Malaysia’s state-owned 1MDB investment fund. The intermediary companies that hold Low’s interest in the property said in a filing Friday in federal court in Los Angeles that they will withdraw their claims.
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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.
I agree. Considering that 220 CPS is largely sold out, there's no reason not to start this in 2019. As great as Steinway and Nordstrom are, this will utterly blow the doors off of those towers. This is THE best site in the city.
Anyway, it will take years to demolish this and build it.
Hopefully they will have the sense to push the tower portion as far to 58th as possible and away from CPS like 220. A supertall right on CPS would really be an aesthetic detraction, and hopefully the city is already insisting on this.
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This is one building I will hate to see go . Two years ago next month, we got married in Leona Helmsley's penthouse on the 46th floor.
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Sprawling on the fringes of the city in geometric order, an insulated border in-between the bright lights and the far, unlit unknown. (Neil Peart)
This is one building I will hate to see go . Two years ago next month, we got married in Leona Helmsley's penthouse on the 46th floor.
Oooh, sorry about that. I don't think a closing is imminent. Maybe within 5 years or so, and not before we get CPT and Steinway completed and selling. But 220 CPS has exceeded all expectations, according to Vornado, so the pressure to develop this site will probably be great.
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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.
Jho Low’s $140M stake in Park Lane hotel quietly sold off
Quote:
Playboy banker Jho Low’s $140 million stake in the Park Lane was quietly sold off by the Justice Department to an Abu Dhabi investor last year, as the feds cracked down on a widening Malaysian bribery scandal, The Post has learned.
The interest in the hotel came after Low, who’s on the lam after being indicted by the US last year for his role in bilking a Malaysian infrastructure fund out of about $3 billion, dropped his claim on the stake in November, according to the Justice Department.
The fugitive financier allegedly used the cash to bribe officials — including those in Abu Dhabi — as well as pay for luxury real estate, Basquiat paintings and lavish parties with stars Jamie Foxx and Kanye West.
Abu Dhabi-based Mubadala Investment Co., the company that bought the stake, and a DOJ spokesman didn’t return requests for comment.
Low had allegedly bribed officials at two other Abu Dhabi investment firms. Mubadala hasn’t been accused of wrongdoing.
In November, the two other firms filed a suit against Goldman Sachs for facilitating the bribes.
With the 2013 acquisition, the buyers had first planned to convert the hotel into a large-scale ultra-luxury residential condominium project. But Witkoff, with minority partners Macklowe and Lorber, shelved the plan in 2016, instead moving forward with a renovation of the hotel.
It'll happen. All you have to do is look at a little tower called 220 Central Park South for all the reasons it will happen.
__________________ NEW YORK is Back!
“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.
One of the most profitable towers (220 CPS) in the NY's history. Once the cycle is strong again for ultra-luxury, this tower will rise, and sell out.
NY is a magnate for capital. Turbulence in the world, draws capital here. Its the one city that for the most part, is highly resilient to global economic turmoil and can be seen as an investment with the case of these units.
Not immune, but resilient.
Central Park's Vicinity is one of the most desirable places on the planet, right next to Monaco.
One of the most profitable towers (220 CPS) in the NY's history. Once the cycle is strong again for ultra-luxury, this tower will rise, and sell out.
It's the most prime of all the undeveloped luxury sites. As we can see, the skyline is never finished, and never will be. This property just waits for its time.
__________________ NEW YORK is Back!
“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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. Two years ago next month, we got married in Leona Helmsley's penthouse on the 46th floor.
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