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  #1861  
Old Posted Jan 10, 2018, 1:11 PM
Crawford Crawford is online now
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Park Lane is probably the most valuable development site on the planet. It's a goner.
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  #1862  
Old Posted Jan 10, 2018, 2:13 PM
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Yeah that site will be developed, its just the question of when really.

Ideally, it would be best to wait, until the ultra-luxury market isn't as saturated, and build a tower similar to CPT.

The super tall design may not be the final iteration, and is merely a placeholder until advances occur. Long-term is the key with that site.

IMO, I'd love to see a mixed used. Another hotel with a residential aspect (ultra-luxury). The residential functionality and price range will naturally come with the territory.

The site in theory could yield a new tallest. I think it will go the way of One57 and CPT as an investment tower meaning that it will attract wealth to invest in the units not for living, but for profit over time. If there is a hotel portion, that would give life to the potential tower.
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  #1863  
Old Posted Jan 10, 2018, 2:36 PM
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Quote:
Originally Posted by Crawford View Post
Park Lane is probably the most valuable development site on the planet. It's a goner.
Yup, that's what I was reading. The land alone is worth about 3/4 of a billion. And it's a tiny piece of land.
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  #1864  
Old Posted Jan 10, 2018, 4:35 PM
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Quote:
Originally Posted by Crawford View Post
Park Lane is probably the most valuable development site on the planet. It's a goner.
Yup. The only hope would be for some form of transferable development rights. Giving a developer more of an incentive to build nearby elsewhere on another site rather than demo and rebuild on the same site.

I have zero faith that NYC could structure such a plan, so I agree it's as good as gone.
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  #1865  
Old Posted Jan 17, 2018, 11:10 PM
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Credit: Otie
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  #1866  
Old Posted Jan 18, 2018, 1:35 AM
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Holy shit
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  #1867  
Old Posted Jan 18, 2018, 2:44 AM
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Not sure where else to post this, but this 50 minute Smithsonian documentary on New York has some pretty incredible shots of the skyline.
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