NEW YORK | 3 Hudson Blvd (The Girasole) | 987 FT | 56 FLOORS | ON HOLD

[chris08876]

We'll have to wait a bit. Foundation work for a year.

[NYguy]

https://commercialobserver.com/2016/...-right-moment/


3 Hudson Boulevard
Size: 1.8 million square feet
Developer: The Moinian Group

Developer Joseph Moinian was one of the first real estate moguls to plant his flag on 11th Avenue when it was still an area of low repute. But his 3 Hudson Boulevard at 11th Avenue and West 34th Street is slow to take shape.

The 1.8-million-square-foot tower has been under development for some time now as rival towers by Related Companies and Brookfield Property Partners start taking shape. While the building is slated to feature retail and office space, there is the possibility that upper floors could also become luxury residential units.

In May, The Moinian Group started on about $100 million worth of foundation work at the site despite not securing an anchor tenant.

Bloomberg reported in May that the overall cost of the project is slated to be $2 billion.

Moinian told the news service that he was sure a tenant would soon commit to the property, thus allowing it to move forward with financing and the rest of construction.

But the fact that it hasn’t been built yet is its strongest point, said Arthur Mirante, the president of Avison Young’s tri-state region and who is marketing the property.

Because structural work has yet to begin on the project, floor plates can be adjusted and ceilings at the base of the building can be increased based on what an anchor tenant might want, including more outdoor space.

Mirante added that the developer was open to doing joint ventures on the project, including finding partners who would take office space in the property. Residential luxury units are also still on the table.

“We can still tinker with our design,” he said. “Not only do we have flexibility still from a design point of view, but we have financial flexibility.”

[gramsjdg]

2 billion seems a bit steep. Burj Dubai was 2 billion as well (I know that the workers there got paid next to nothing, but still...)

Of course 1WTC was 4 billion, but that's a special case...

[chris08876]

Originally Posted by gramsjdg

2 billion seems a bit steep. Burj Dubai was 2 billion as well (I know that the workers there got paid next to nothing, but still...)

Of course 1WTC was 4 billion, but that's a special case...

We can sum the cost of a tower based on soft vs hard costs. Pre planning, design, land purchases, assemblages, and so on can often add a significant amount to the total cost, even if they are soft costs. It's not necessary the construction that is super expensive and a huge % of the total amount. Land often has a huge cost, especially in NYC. Kinda why you will see the same height, and sq-ft tower rise in Queens, yet seem 1/4 the price. Also factor in the engineering and materials. With the Burj price, that same tower, in Midtown, would be much much more expensive. Also the Burj is an engineering marvel. Kinda like the Kingdom tower which has a foundation that is 30 stories deep. Lastly, contractors, billing rates, and pricing for materials can vary. More a byproduct of soft costs. Shitty negotiations may yield overall higher costs over "X" years or months.

[artspook]

". . Kingdom tower which has a foundation that is 30 stories deep." - Chris

soaring above ground too . .
OMG . . a bolt into the sky . . magnificently beautiful, . .
just giving impressive modern skyscraper design credit . .
where authentic credit its due . .
it's the 21st century standard . .

[artspook]

3 Hudson Blvd. is not the rigorous tour de force . .
promised in the phony renderings . .
angles wildly exaggerated for marketing purposes . .
architectural renderings are like campaign promises . .
Ya gotta see through them, people . .
compare renderings to diagrams . .
this is a very hollow attempt at dynamism . .
The form of this slightly off plumb box . .
is but a very small design gimmick, . . to keep it cheap . .
I like design . . there's not much here . .

[chris08876]

Originally Posted by gramsjdg

2 billion seems a bit steep. Burj Dubai was 2 billion as well (I know that the workers there got paid next to nothing, but still...)

Of course 1WTC was 4 billion, but that's a special case...

As a supplement to post #624, read this: http://therealdeal.com/2014/11/26/zi...-chelsea-site/

While its 400/300 foot tower(s), the cost of just the parcel was 800 million. One of those cases were the land and soft costs > hard costs. In other words, its cheaper to build two mid sized skyscrapers than it is to buy the land.

Relatively speaking, 3 Hudson is cheap in terms of the land that it sits on.

[ILNY]

[NYguy]

^ Good work.

[ILNY]

Originally Posted by NYguy

^ Good work.

Thank you NYguy.

[chris08876]

Credit: JC_Heights

[Zerton]

I can't believe its been 10 years since this was announced.

[mrnyc]

from this past friday 1/20/17 after work --


i stood on the hudson park chairs to look in -- as i would imagine everyone does --











the other 7 train subway entrance nearby sits forlorn for now --

[hotwheels]

Excavation Underway at 3 Hudson Boulevard in Manhattan

Soon to become part of the rapidly rising Hudson Yards neighbourhood on the western edge of Midtown Manhattan, 3 Hudson Boulevard at the corner of 34th Street and 11th Avenue will eventually rise to 315 metres. The supertall, mixed-use, 66-storey tower will house a mixture of office and residential space across its 1.8 million square feet. Designed by FXFOWLE for the Moinian Group, 3 Hudson Boulevard will rise above the recently completed 34th Street-Hudson Yards Subway Station that was primarily built to serve the new Hudson Yards neighbourhood.

[ILNY]

Foundation work is finally visible. It should be rising soon.

[citybooster]

So the upper floors definitely are going with a residential component? How much office/retail vs residential are they doing? Going to be a really nice addition... kinda conservative but the angling is going to be a nice twist keeping it from going boxy and ordinary. The top also will look nice.. prefer this to the gimmickry of the Spiral..till shaking my head at the boldness that could have gone there with the Hudson Spire original vision sacrificed to this result.

[Skyguy_7]

Originally Posted by ILNY

Foundation work is finally visible. It should be rising soon.

How is this mess ever going to be the base of a 1,000-foot tower? Only in New York, man....

[chris08876]

Originally Posted by Skyguy_7

How is this mess ever going to be the base of a 1,000-foot tower? Only in New York, man....

This will be the most noticeable super tall node in the city. It's a great time to be saying a noticeable super tall node, because if you add the "S" to "node", it holds true. Lots of super tall clusters. This area went from crappy, to amazing. The final frontier in Manhattan to be developed, and they are going bananas.

Around the area, still a lot of parcels to be picked up. Propagating the neighborhood to be a flower bed for future supertalls. Just sprinkle some money/tenants and watch them grow.

[BrownTown]

Originally Posted by chris08876

Around the area, still a lot of parcels to be picked up. Propagating the neighborhood to be a flower bed for future supertalls. Just sprinkle some money/tenants and watch them grow.

Interest rates are rising again so the fuel for all these towers is getting cut off. I doubt we'll see a big push for more skyscrapers if the Fed keeps on its current course. As for the second question of tenant, how many more can there be out there who can afford these sorts of rents?

[chris08876]

Long term is the key. I don't expect super talls to rise like bamboo overnight, but the West Side given the land prices will see developments on average utilize the land to its utmost potential.

Manhattan as a whole will see this as well so in terms of height, expect the average for the borough to climb upwards. If I recall, the average is somewhere around 315-330 ft. Overtime, I could see this climb to 400 ft. Granted super talls and towers in the range of 700-900 ft skew the average, but the trend has been for the last 5 years in every borough to be an increase in height.

Even in Brooklyn, we are seeing your typical structure in the pipeline around 14/15 floors. An increase over the typical 12 floor structure that is usually proposed.

Now in terms of tenants, I could speculate that most new towers will not be seeing the big dogs. The ones who seek over 1 mil sq ft, but smaller tenants allocating from older, 60's stock office space to modern, class A space builds after 2016. Get enough of those, and a tower is viable and will move from soft to hard cost stage.