NEW YORK | 425 Park Ave | 860 FT | 42 FLOORS - Page 16

Submariner · #**301** Posted **Mar 26, 2015, 1:22 AM**

It's good to see this underway - what a lovely complement it will be to 432 Park.

Any word on the height? Is it 893 to roof or to the top of the "blades"?

Zapatan · #**302** Posted **Mar 26, 2015, 1:26 AM**

Quote:

Originally Posted by Submariner

It's good to see this underway - what a lovely complement it will be to 432 Park.

Any word on the height? Is it 893 to roof or to the top of the "blades"?

top of the blades

~700+ to the roof

ILNY · #**303** Posted **Apr 25, 2015, 6:30 PM**

Sidewalk shed was installed.

Amanita · #**304** Posted **Apr 30, 2015, 6:35 AM**

Since April 30 is this building's last day before it starts coming down, I did this, since I kind of feel sorry for it, as much as I like how it's going to be rebuilt:

sparkling · #**305** Posted **Jun 3, 2015, 1:09 PM**

L&L gets $556M funding for 425 Park
Park Ave. to see first major new office tower in three decades

Claire Moses
June 03, 2015

Quote:

L&L Holding Company and GreenOak Real Estate secured a $556 million construction loan to build a new 47-story office tower at 425 Park Avenue.

Tokyu Land Corporation, an affiliate of Tokyu Fudosan Holdings, will be a co-equity partner, the developer announced in a release, and MassMutual Financial Group is providing the funds. HFF brokered the loan.

Norman Foster is designing 425 Park Avenue, which will stand 897 feet tall. It’s the first new office building that will rise on Park Avenue in about half a century.

David Levinson, the chair and chief executive officer of L&L, said that 425 Park will “redefine the modern office environment, enhance the timeless allure of the Plaza district, and serve as Midtown East’s first 21st Century icon. Robert Lapidus, L&L’s chief investment officer and president, said called the partnership with MassMutual and Tokyu a “once-in-a-lifetime opportunity.”

The skyscraper will be located between East 55th and East 56th street. The building will feature a 45-foot-tall lobby as well as a penthouse floor with 360-degree views of the city, among other things.

Demolition of the existing structure on the site is scheduled to begin this month. The new tower is set to open its doors in 2018.

- See more at: http://therealdeal.com/blog/2015/06/....awuIIXah.dpuf

sparkling · #**306** Posted **Jun 10, 2015, 8:47 PM**

Norman Foster's New Office Tower Plans the Fanciest Eatery

Wednesday, June 10, 2015
Jeremiah Budin

Quote:

The Lord Norman Foster-designed 425 Park Avenue broke ground today, and at the groundbreaking it was announced that the office tower will include an enormous, two-story, 14,000-square-foot restaurant, also designed by Foster. The restauranteurs behind the project are Daniel Humm and Will Guidara of Eleven Madison Park and the Nomad fame. This restaurant, like those ones, will be very fancy—one of the building's developers told the Post that "It will be Four Seasons on steroids for the 21st Century."

chris08876 · #**307** Posted **Jun 10, 2015, 8:59 PM**

Press Release:

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=========

Quote:

Press Release 10.06.2015

Lord Foster attended a ceremony in New York today, to celebrate the ground breaking of the new tower at 425 Park Avenue, the first full-block office building on Park Avenue for fifty years. In addition to LEED Gold accreditation, the tower will also be the first in New York City to achieve WELL certification, in recognition of innovations to enhance the health and well-being of its future occupants.

425 Park Avenue is conceived as a flexible, enduring new addition to one of New York City’s most celebrated streets. The tower’s form is a pure expression of its function, divided vertically into three distinct volumes: its base, knitted with the urban grain at street level; a recessed central section; and a slender column of premium offices at the top. Each volume dovetails dramatic triple-height sky gardens: one of which will serve as a penthouse floor, and another a first-class amenity floor for the tower’s occupants, with dining and facilities for meetings and conferences. Terraces offer views across Central Park and the prized amenity of open space in the heart of Manhattan. The social focus of the tower continues at street level, where entrance is via a dramatic triple-height atrium, with the potential for large-scale works of art.

Lord Foster said:

“425 Park Avenue is a significant location. The prime location is Park Avenue itself because it is probably unique in the world in terms of being an urban, modernist creation. It has a life, a scale. The first thing that 425 has to do is contribute to that urbanity. In the spirit of those individual buildings – that include Seagram and Lever House – 425 has its own identity. It will contribute to the public domain both at ground level and the wider entity of the city.”

Notes to editors:

Foster + Partners was appointed to design the new tower at 425 Park Avenue in 2012, following a high-profile international competition.
The new tower is scheduled to open in 2018.
425 Park will be the first New York City office tower to achieve WELL certification in of innovations to enhance the health and well-being of its future occupants.

===============================
http://www.fosterandpartners.com/new...5-park-avenue/

chris08876 · #**308** Posted **Jun 10, 2015, 9:00 PM**

Document (WSJ :: PDF): http://www.425parkave.com/wp-content...a-Comeback.pdf

JR Ewing · #**309** Posted **Jun 10, 2015, 9:07 PM**

This will be the first of many hyper-expensive office towers geared to PE and hedge funds. I predict that the Colgate-Palmolive HQ will be the next one.

chris08876 · #**310** Posted **Jun 10, 2015, 9:11 PM**

Quote:

Originally Posted by JR Ewing

This will be the first of many hyper-expensive office towers geared to PE and hedge funds. I predict that the Colgate-Palmolive HQ will be the next one.

I have some contacts at the Colgate R&D Center in Edison. I can ask around. Might scoop out some info as they have some corporate based offices in the complex. They are seeking to expand too but IDK where in the city. NJ sure. Building a whole new addition to the center.

Vertical_Gotham · #**311** Posted **Jun 10, 2015, 9:15 PM**

I love this tower. Nice.

mrnyc · #**312** Posted **Jun 10, 2015, 9:16 PM**

that's pretty awful.

The New York Lion · #**313** Posted **Jun 10, 2015, 9:20 PM**

Quote:

Originally Posted by JR Ewing

This will be the first of many hyper-expensive office towers geared to PE and hedge funds. I predict that the Colgate-Palmolive HQ will be the next one.

300 Park Avenue is nothing special. It's fine, I guess, but I will welcome its successor.

chris08876 · #**314** Posted **Jun 12, 2015, 10:02 AM**

Developer of 425 Park Ave. wants to get a record $250 per square foot in rent

Quote:

The developer of a new office tower on Park Avenue plans to ask for unprecedented rents—at least $250 per square foot.

L&L Holding Co. began construction on 425 Park Ave., a 47-story, 670,000-square-foot spire earlier this week. The developer claims the tower will offer the most luxurious office space in the city when it is completed in 2018. The firm plans to ask $250 per square foot or more for the tower's upper floors. If L&L can get tenants to pay up, it would be, by a large margin, the highest rental rates for office space ever in New York City.

"This will be the Patek Philippe of office buildings," said David Levinson, chairman and CEO of L&L Holding Co. "This building is all about sustainability and wellness and productivity. The people who work in this building will be the most productive in the city."

The tower will include a massive glass lobby between East 55th and East 56th streets that will feature lounge space for tenants and a soaring 45-foot tall ceiling. The top floor will have a 38-foot-high glass ceiling.

The building also will house a 14,000-square-foot, high-end eatery operated by chef Daniel Humm and restaurateur Will Guidara. The pair run the Michelin-starred restaurant Eleven Madison.

Only a handful of office buildings in the city have been able to fetch $200 per square foot. The top floors at the General Motors Building and 9 W. 57th St. succeeded, while the boutique luxury building at 667 Madison Ave. was rumored to have achieved rates slightly above $200 per square foot. But no building has ever attempted to ask for rates in the mid-$200s.

Mr. Levinson is banking on big demand from high-end tenants in an area of the city that has seen virtually no new office development in decades. The only other new tower is around the block, where developer Harry Macklowe is constructing a 71,000-square-foot boutique office building as part of his ultraluxury condo tower project, 432 Park Ave. That property could fetch rents as high as $200 per square foot, according to CBRE Group broker Paul Amrich, who is handling leasing there on behalf of Mr. Macklowe.

"If you look at 9 West and the GM Building and the Seagram Building, they're great architecturally and very important, but they're 50 years old or more," Mr. Levinson said. "This building is all about the future."

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http://www.crainsnewyork.com/article...er-square-foot

pico44 · #**315** Posted **Jun 12, 2015, 10:50 AM**

So Foster is taking a huge soulless hulking windowless utility shaft and extending it up another several hundred feet. The original sin which made this building hideous and a crime to the cityscape will now be so prominent, you'll be able to see it from Queens. This design sucks. I admit the lobby looks cool, but everything else about betrays an absence of creativity and civic spirit.

JR Ewing · #**316** Posted **Jun 12, 2015, 10:50 AM**

This tower will be Mount Olympus and its great success will lead to more hyper luxury towers on Park and Madison.

mattymatt88 · #**317** Posted **Jun 12, 2015, 12:55 PM**

I like it. It looks like wolverines fist from behind

Vertical_Gotham · #**318** Posted **Jun 12, 2015, 6:55 PM**

I didn't realize they are building this tower on spec. Anyways, L&L should not have any problems leasing this tower as I'm sure this will be a favorite place for Hedge fund firms that would totally pay the price just to be in this Park Avenue trophy tower. Looking forward to its ground breaking.

chris08876 · #**319** Posted **Jun 12, 2015, 7:05 PM**

Quote:

Originally Posted by JR Ewing

This tower will be Mount Olympus and its great success will lead to more hyper luxury towers on Park and Madison.

I'm hoping. Park Ave has seen relatively little in terms of skyscrapers popping up recently but a tower such as this should change the dynamics. From the renderings, this looks like it will shine at night. A solid addition to the empire city.

JR Ewing · #**320** Posted **Jun 12, 2015, 7:33 PM**

Quote:

Originally Posted by chris08876

I'm hoping. Park Ave has seen relatively little in terms of skyscrapers popping up recently but a tower such as this should change the dynamics. From the renderings, this looks like it will shine at night. A solid addition to the empire city.

Check out the video for this tower. The evening lighting will be amazing.