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  #541  
Old Posted Dec 25, 2014, 2:18 PM
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Originally Posted by Zapatan View Post
As in it needed air rights to go up to 1050' or do you mean it can be taller if they want?
All of the buildings in the Hudson Yards have a base FAR of about 10. (The railyard itself is different). The sizes are increased through DIBs (district improvement bonuses) and further increased to maximum FARs through transfers from the railyards. It's very similar to what they are doing with the Midtown East rezoning that will give us towers like 1 Vanderbilt.

What they are purchasing here would bring the tower up to its current planned size. With a different design they could go taller, but that isn't what's planned.



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  #542  
Old Posted Dec 30, 2014, 5:53 AM
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December 29, 2014


















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  #543  
Old Posted Jan 15, 2015, 1:51 PM
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http://nypost.com/2015/01/15/lease-o...althy-numbers/


By Lois Weiss
January 15, 2015


Quote:
Hudson Yards is taking shape as 10 Hudson Yards rises, Neiman Marcus agreed to open a 250,000-square-foot store in the retail podium, and portions of the park and the No. 7 train extension near an opening day.

“For us any progress solidifies the area,” said Oskar Brecher, director of development and executive vice president, The Monian Group which is preparing to develop 3 Hudson Blvd.

“It’s so established we don’t have to convince people to move there,” Brecher said of the 1,050 foot tall office tower. Dan Kaplan of FxFowle designed the building to pivot towards the sun and its massive 50,000-foot floor plates back onto the park and the new subway entrance.

Nearby, JPMorgan Chase leased 150,000 feet at 5 Manhattan West, also known as 450 W. 33rd St.; Skadden Arps finally signed a term sheet for roughly 500,000 square feet at the new 1 Manhattan West; and numerous sites changed hands as developers jockeyed for sites or flipped them for fast profits.
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  #544  
Old Posted Jan 21, 2015, 1:34 AM
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The Hudson Yards train moving along...


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  #545  
Old Posted Jan 26, 2015, 5:34 PM
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Looks like there is still the potential for condos at the top.











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  #546  
Old Posted Feb 2, 2015, 8:24 PM
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Super Size Me: Moinian to pay $200M for Hudson Yards bonuses

Quote:
Taking the next step toward putting its latest mark on the Far West Side skyline, Joseph Moinian’s development firm is planning to write a check just shy of $200 million to buy building bonuses for its 67-story, mixed-use office tower in Hudson Yards, The Real Deal has learned.

The Moinian Group’s 3 Hudson Boulevard, which is pegged to cost a total of $1.6 billion by the time the fat lady sings, filed an application with the Department of City Planning seeking a pair of density-boosting programs the city offers to buildings in the Hudson Yards area. The bonuses total approximately $197.4 million.

Sitting at the edge of 11th Avenue and 34th Street, Moinian’s development site is on one of the “Four Corners” just north of the Related Companies’ massive project spanning the Metropolitan Transportation Authority’s east side rail yards, where the city has designated some of the densest zoning in the Hudson Yards neighborhood.

But only a portion of that FAR comes as-of-right. The rest must be purchased through a duo of local development corporations set up amid the neighborhood’s 2005 rezoning in order to fund infrastructure improvements such as the 7-train extension and the mid-block park planned for the area.

Moinian’s property, for which it paid $54.8 million in 2006, comes with roughly 470,000 square feet of buildable space, or roughly 30 percent of the building’s above-ground bulk of 1.5 million square feet. To get to the next level, the company will pay the nonprofit Hudson Yards Infrastructure Corporation $46.8 million for another 373,072 buildable square feet, the application shows.

Once that reserve is exhausted, Moinian can then purchase air rights created over the rail yards by the rezoning. The firm has applied to buy 669,510 square feet of these rights, which are priced based on an assessment of the receiving site. Late last year the company told TRD that a preliminary calculation pegged the cost of the bonuses in the mid-$300 per square foot range. Now, the firm says that the number is about $225 per square foot, placing the total cost at roughly $150.6 million.

Moinian expects to break ground this year and complete the building in 2019.

Elsewhere on the “Four Corners,” Related and majority partner Mitsui Fudosan America broke ground earlier this year on 55 Hudson Yards, the $1.4 billion, 55-story tower set to open its doors in 2015. Related filed an application late last year to purchase an estimated $180 million in building bonuses, as TRD reported.

On the opposite end of the block at 10th Avenue, Tishman Speyer’s application for its 2.6 million square-foot office tower has not yet been made public, though the developer has put a $3.2 billion price tag on the project.
=========================
http://therealdeal.com/blog/2015/02/....l7h2bOF7.dpuf
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  #547  
Old Posted Feb 3, 2015, 1:57 AM
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Elsewhere on the “Four Corners,” Related and majority partner Mitsui Fudosan America broke ground earlier this year on 55 Hudson Yards, the $1.4 billion, 55-story tower set to open its doors in 2015. Related filed an application late last year to purchase an estimated $180 million in building bonuses, as TRD reported.

On the opposite end of the block at 10th Avenue, Tishman Speyer’s application for its 2.6 million square-foot office tower has not yet been made public, though the developer has put a $3.2 billion price tag on the project.
I don't know why they would say that when the Tishman tower was one of the first towers to move forward with that...

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  #548  
Old Posted Feb 10, 2015, 11:01 PM
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Moinian, Brookfield Get Hudson Yards Tax Abatements Totaling $180M

LAUREN ELKIES SCHRAM
2/10/2015

Quote:
The Moinian Group and Brookfield Properties today got approval from the New York City Industrial Development Agency, or NYCIDA, to receive tax abatement benefits for their respective Hudson Yards developments.

Moinian received the benefits at 3 Hudson Boulevard, a 1.8-million-square-foot mixed-use tower spanning a full city block north of Hudson Yards and across the street from the Jacob K. Javits Convention Center. Brookfield secured the benefits for its 2-million-square-foot Manhattan West, at 401 Ninth Avenue, according to a spokesman for the city’s Economic Development Corporation, which staffs NYCIDA.

Moinian’s project is expected to cost $1.6 billion and Brookfield’s is slated to cost $2 billion, according to IDA documents. Moinian will be getting a $65 million tax exemption and is expected to generate $691 million in tax and other gross revenue over a 25-year period while Brookfield will be getting a tax break of $115 million in exchange for generating $856.9 million in benefits to the city.

At 3 Hudson Boulevard, FX Fowle Design has designed an 1,050-foot, 66-story building, between West 34th and West 35th Streets and 11th Avenue and Hudson Boulevard West. There will be 18,900 square feet of retail on the ground floor and then office space up to floor 46, according to building marketing materials. There will be a residential lobby and amenities on the 48th floor and residences on 49 to 63. There will be a sky club on the 66th floor.

“Under the terms of the process, Moinian has one calendar year from the date of approval to close with the NYCIDA, through an internal process and review, demonstrating that Moinian has procured sufficient financing to proceed with full construction of 3 Hudson Boulevard,” a spokesman for Moinian emailed. “After passing financing review, Moinian would then obtain a minimum 25 percent tax abatement on approximately 1.5 million square feet of commercial space.”

Brookfield’s project at 401 Ninth Avenue is proposed for the northeast corner of Brookfield’s five-acre Manhattan West and fronts West 33rd Street and Ninth Avenue. It will be 70 stories, with retail on the bottom floors and office space above, the NYCIDA documents show. Brookfield did not immediately respond to requests for comment.

Since January 2002, NYCIDA has closed more than 330 transactions, drawing $11.8 billion in private investment to the city and helping to retain or create more than 103,000 jobs.
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  #549  
Old Posted Feb 12, 2015, 3:19 AM
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“Under the terms of the process, Moinian has one calendar year from the date of approval to close with the NYCIDA, through an internal process and review, demonstrating that Moinian has procured sufficient financing to proceed with full construction of 3 Hudson Boulevard,” a spokesman for Moinian emailed.

I have no doubt that this one will be rising along with 1 Manhattan West, both towers of similar height (and bulk). Much is said about the new, slender supertall towers going up in Manhattan. But the big, boxy supertalls will be more in number when all is said and done.
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  #550  
Old Posted Feb 12, 2015, 1:53 PM
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Originally Posted by NYguy View Post
But the big, boxy supertalls will be more in number when all is said and done.
And that's a good thing. The residential market in NYC is one of a kind (maybe it can be compared to London to some extent). When office towers go up, it shows that there is demand and the economy is getting healthier, at least in the U.S..
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  #551  
Old Posted Feb 12, 2015, 2:00 PM
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And that's a good thing. The residential market in NYC is one of a kind (maybe it can be compared to London to some extent). When office towers go up, it shows that there is demand and the economy is getting healthier, at least in the U.S..
One thing about this new wave of office towers that people probably don't realize, but the older class of large towers the city already has in stock (like 30 Rock, Chase Manhattan, Met Life), those towers would all be taller if built by today's standards, likely supertalls.
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  #552  
Old Posted Feb 12, 2015, 11:16 PM
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  #553  
Old Posted Feb 13, 2015, 12:09 AM
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The lobby is awesome on this one and with the park in front! So excited for this!
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  #554  
Old Posted Feb 13, 2015, 3:23 PM
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Originally Posted by Onn View Post
The lobby is awesome on this one and with the park in front! So excited for this!
Yeah, I hadn't really thought about the public spaces in these buildings, but they're all supposed to have retail/restaurants at the bases, which will help bring more of that New York street presence/experience to the area, like what's happeining with the new WTC. And I of course love the park, which is more wider (and active) than the median of Park Avenue, a place to just stop and take it all in. I'm ready.
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  #555  
Old Posted Feb 19, 2015, 2:08 AM
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The bulk is not bad from this angle...






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  #556  
Old Posted Feb 19, 2015, 3:04 AM
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Love that model!
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  #557  
Old Posted Feb 19, 2015, 3:15 AM
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Wow, that is a nice model. This one's not going to be a square box!
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  #558  
Old Posted Feb 22, 2015, 1:39 AM
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  #559  
Old Posted Mar 6, 2015, 2:38 PM
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  #560  
Old Posted Mar 6, 2015, 6:18 PM
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I must be the only one who finds that model atrocious?

What an awkward looking building...
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