NEW YORK | One Manhattan Square ( 227 Cherry ) | 847 FT / 258 M | 72 FLOORS

[chris08876]

I managed to get a glimpse of this site yesterday. No photo as it was dark, but in terms of whats going on, heavy duty foundation work. No major floor climbs yet. Just more piling and wall type work. Walls are also erected all over the site as opposed to just a small section compared to the 1st image in the post above.

[hunser]

Tectonic Photos

Originally Posted by Skylimitone

Tectonic

[chris08876]

Extell’s 831-Foot-Tall One Manhattan Square Begins Its Climb Above Chinatown







http://onemanhattansquare.com/

Still in disbelief that a 68-story building (though it’s being marketed as 80 stories) could rise at the edge of Chinatown? Well behold One Manhattan Square‘s construction site, buzzing with activity and flagged by a stalwart kangaroo crane foreshadowing the 850-foot-tall tower to come. Unlike the Chinese investment market, Extell’s skyscraper is heading in one direction — up. And after more than a year of site preparation and foundation work, the first pieces of re-bar have emerged from their mucky surrounds and are peaking above the lot’s blue construction fences.

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http://www.6sqft.com/extells-831-foo...ove-chinatown/

[chris08876]

Credit: http://www.boweryboogie.com/2016/02/...ood-threshold/

[chris08876]

Extell lowers sellout target at One Manhattan Square

At One57, Extell Development raised prices at least 10 times to push some of the world’s richest buyers to their limits. But at its latest project on the Lower East Side, the developer is flipping the script by lowering the target sellout.

Extell dropped the sellout price at One Manhattan Square by $207.3 million to a total of $1.87 billion, according to a Jan. 22 amendment to the building’s offering plan.

“We’re going to be very conservative here,” Extell chief Gary Barnett told The Real Deal. He disputed the notion of having cut prices per se, instead describing the markdown as a change to early placeholder prices to better match the current market, which is showing signs of a slowdown at the top.
“We priced it where we want to start and we think we’ll raise prices from where we’re starting now,” he said.

Prices at the 815-unit One Manhattan Square will still start around $1 million. There are two $13 million penthouses, one of which is in contract, the developer said.

Extell bought the development site, a former Pathmark at 252 South Street, in early 2013 for a reported $175 million, including the $47 million buyout of the supermarket’s lease.

The 937,000-square-foot development is among the largest new condo projects in the city in recent years. Even at the lower target sellout price, it could set a record for Lower Manhattan, ahead of Rudin Management and Global Holdings’ 200-unit Greenwich Lane, which launched in 2013 with a $1.7 billion price tag.

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http://therealdeal.com/2016/02/22/ex...hattan-square/

[chris08876]

Again...

Lot of work stoppage for this project.
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DOB Halts Extell’s 80-Story One Manhattan Square Due to Cracking Walls in Nearby Buildings

Confirming the months-running fears of neighbors, Extell Development Corp. was taken to task over its construction of the eighty-story One Manhattan Square down on South Street. The Department of Buildings issued stop-work orders due to cracking in the adjacent building at 82 Rutgers Street. Thus the “immediately hazardous” language attached to the edict.

These types of fissures have also been a common sight throughout Two Bridges Tower at 82 Rutgers Street since ground-break. In the early days of the deafening excavation work, walls and ceilings separated and crumbled, infrastructure shook, and doors were no longer closing properly. All along, residents voiced concerns, but were shot down by Extell and construction manager LendLease, who said that the building was structurally sound. For its part, however, Barnett and company are actively “touring” the affected apartments to assess damage, and will repair problems at their own cost.

The development is no stranger to these controversies. You’ll recall that construction activities last June reported caused Cherry Street to sink some three inches. The DOB acted in kind, and likewise issued stop-work orders.

Meanwhile, an “Extell update” is listed on next month’s CB3 agenda for the Land-use subcommittee.

It’s high time Extell’s big cheese Gary Barnett consider reducing the height of this (flood zone) monstrosity. The fact that “sellout price” estimates were decreased this week is a sign that maybe 815 condo units on this spot isn’t sound thinking. Get ready for lots of “non-dos.”

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http://www.boweryboogie.com/2016/02/...rby-buildings/

[Zapatan]

Hmm.. well that doesn't sound *too* serious, hopefully they get back on it soon enough

[chris08876]

Extell seeking up to $200M in EB-5 funding for LES condo

Extell Development isn’t just giving Asian buyers the first crack at buying apartments at its forthcoming condominium in Lower Manhattan. The firm is eyeing Asian investment in the project, dubbed One Manhattan Square, through the EB-5 visa program.

The Gary Barnett-led firm is hoping to raise between $100 million and $200 million for the 815-unit project through the popular – and controversial – program, which offers foreign investors a U.S. green card in exchange for a $500,000 investment.

Marketing materials for One Manhattan Square that appeared on a Vietnamese website indicated the EB-5 funds could account for seven percent to 14 percent of the project’s total estimated cost of $1.4 billion.

The developer did not immediately return a call seeking comment.

Extell, which has its own in-house regional center, previously tapped EB-5 investors to raise $75 million for the International Gem Tower at 50 West 47th Street in 2011. More recently, Barnett seemed to temper his enthusiasm for EB-5 at an event hosted by the China General Chamber of Commerce in 2015.

“It’s not quite as simple as it seems,” he said, noting that investors’ “primary focus is to be able to get legal residency in the U.S., but they absolutely want to get paid back.”

Perhaps Barnett now hopes to attract EB-5 investors who will back One Manhattan Square, and even consider living there. Extell launched marketing for the condo tower in Asia, giving buyers in China, Malaysia and Singapore first dibs on the units.

One Manhattan Square, located at 252 South Street, is one of Extell’s largest developments to date and will rise 80 stories and hold 815 units. Extell bought the site, a former Pathmark, in 2013 for a reported $175 million, which included a $47 million buyback of Pathmark’s lease.

Last year, the developer obtained a $150 million bridge loan for One Manhattan Square from Deutsche Bank, and Extell was reportedly in talks with the bank for an $888 million construction loan, according to published reports.

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http://therealdeal.com/2016/04/01/ex...hattan-square/

[NYguy]

APRIL 18, 2016

[chris08876]

Rendering:


Credit: BoweryBoogie

http://onemanhattansquare.com/

[colemonkee]

Meh. Pretty underwhelming, especially for how prominent it will be. At least we'll be getting some more creative designs further down the river by the Seaport.

[sterlippo1]

i think it's sharp . 3 WTC is going to fill the gap in the skyline from that spot perfectly. 8 spruce and 30 park place really are great additions to the downtown skyline

[chris08876]

Credit: DNAinfo/Lisha Arino

[chris08876]

Extell’s ‘One Manhattan Square’ Project Pegged for Q3 2019 Completion

One Manhattan Square, the eighty-story skyscraper (823 feet) on South Street brought to you by Extell Development Corp. is on track for completion in the third quarter of 2019. At a construction rate of approximately one floor every three days, plus the enclosure and fit-out, the project is still more than three years from out. Domestic sales are anticipated to begin in September, as previously reported.

This was the estimate provided last night during the fifth quarterly meeting with area residents (predominantly from 82 Rutgers Street). Here are some other updates gleaned during the info session (in no particular order):

Foundation is complete. Work has begun on the fifth floor of the podium. The superstructure itself begins on the sixth floor.

The tower will be enclosed by the end of 2017.

Construction on the “poor door” affordable tower should commence in the fall.

For safety purposes, neighbors are pitching to create a mid-block crossing in the center of Cherry Street. Lots of neighborhood youth cross to attend the area Head Start program, and there are fears about the increased traffic that will result from the wall of glass coming to the waterfront. Susan Stetzer committed to putting this measure on a future Community Board 3 agenda.
Extell committed to providing security reflector vests for area children passing through the covered walkway between the project site and 82 Rutgers Street.

The developers are now more assertive in their position to bring an “affordable” supermarket back to the street. Razy Haas, SVP Project Management and Development for Extell, repeated that claim several times during the hour-long meeting. Haas shot down any hope for a possible “early opening” of the supermarket, though, noting it can’t happen before “early 2019.”

There are three total retail units.

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http://www.boweryboogie.com/2016/05/...19-completion/

[Zapatan]

"poor door"

what dicks...

[artspook]

chris's apr 22nd dusk shot rendering, of 227 cherry (above) . .
looks great . . The actual building itself, just looks sorta ok . .
The "reveal", forming a bit of a crown, helps a little . .
But I have a question about this building's glass color . .
It's no biggie, but . . What is it ? . . Anybody else perplexed about this point . .

The illustrator of the dusk shot (above), renders the 2 East-facing vertical planes . .
(separated by a North-face) . . in very different colors . .
when, in fact, 2 planes of the same material, facing the same direction . .
pick up the same aspects of light . .

Is "she" doing this because the actual glass, is differently colored, . .
in each of the 2 East-facing sections ? . . (indicating a bit of expense & effort) . .
Or, is she using "artistic license" . . to trick the mind's eye into a perception . .
that the building is much more interesting, much less bulky, . . and more expensive.
Even in the high-noon-shot renderings of this tower . .
the planes are inexplicably unmatched . .
We will, of course, find out soon enough, when the building rises . .

[NYguy]

http://www.nydailynews.com/new-york/...icle-1.2667119

[JACKinBeantown]

Off topic: but is it possible that the Verizon building is actually going to look worse?

[jbermingham123]

Originally Posted by JACKinBeantown

Off topic: but is it possible that the Verizon building is actually going to look worse?

how could it look any worse? I honestly don't think there is anything that could make me hate that building more than i already do

[chris08876]

• Video Link

Published on Jun 23, 2016
One Manhattan Square is a new residential building currently under construction on the Lower East Side. A true vertical village on the edge of the East River, One Manhattan Square will offer unprecedented indoor and outdoor amenities spanning over 100,000 square feet with breathtaking 360 degree views in every direction.

1 to 3 bedroom luxury condominium residences from $1.15M.

Sales launch September 2016.