Quote:
Originally Posted by NOPA
What I do find problematic is that a 700+ foot, 2.4 million square foot tower has no value simply because it is too difficult in this city to build the replacement modern tower JPMorgan needs on another block. This indicates that our current zoning and planning process is very dysfunctional and inefficient, but we already knew that.
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It's nowhere near that size, it's about 1.5 msf. The tower that replaces it will be around that size, or a little larger. The building could have more value - somewhere else. I don't put buildings ahead of the city, because buildings can come and go, but the city needs to survive.
I don't think many of you are getting the importance of keeping this part of Midtown healthy, but those in charge of such things thankfully and finally do. Talk about landmarking, what they are doing in effect is landmarking this district as the commercial center is has been in the past. That for me, and the city, is more important than trying to save some building just because it's there.
The Hudson Yards is nice, and needed to supplement the city's stock of modern office space, but it has it's limits. And it will never evolve around the type of transportation core that this district has.