HomeDiagramsDatabaseMapsForumSkyscraper Posters
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > Proposals

Reply

 
Thread Tools Display Modes
     
     
  #1  
Old Posted Nov 26, 2008, 10:32 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
Smile NEW YORK | 740 Eighth Ave | FT | FLOORS

http://www.nypost.com/seven/03022007...eve_cuozzo.htm

ODD COUPLE PLANS A WINNER ON EIGHTH




By STEVE CUOZZO
March 2, 2007

An odd-couple partnership is putting together a huge Eighth Avenue building site that can support a new office tower of up to 1 million square feet, The Post has learned.

In a rare joint venture, privately held Related, headed by Stephen Ross, and publicly traded Boston Properties, led by Mort Zuckerman, have teamed up to buy half of the east blockfront between 45th and 46th streets plus several buildings on both side streets.

The deals involve a half- dozen different sellers and are valued at a total $350 million. The deals are all in contract, but will not close until later this year.

Related and Boston are buying several small vacant tenements, a small hotel, a parking lot, an 8-story garage, and "floating" air rights harvested from other sites within the city's theater subdistrict.

The site's boundaries extend to the western wall of the Imperial Theater on 46th Street and of the Music Box on West 45th.

The fact that Related and Boston have formed a single entity to buy the 30,000 square-foot site does not necessarily mean they will stick with plans for an office tower.

"Manhattan is very unpredictable, and nothing is certain," an insider cautioned.

Nor does it mean Related and Boston will stop at the deals now on the table. Sources said they still covet five small buildings at the avenue block's south end.

Adding them would enable the developers to create an uninterrupted street wall the full length of the block.

The negotiations, conducted in secret for three years, reflect the frenzy for land on Eighth Avenue - the last frontier in central Midtown for large-scale development.

Reps for both Related and Boston declined to comment. Officials at Community Board 5, which vetted the air rights transfers, could not be reached.

Sources buzzed that Grubb & Ellis' Vincent Carrega was representing the sellers and had "engi neered" the multiple and complicated transactions, but he could not be reached yesterday.

Times Square Alli ance President Tim Tompkins said, "a de velopment of this signif icance will be another crucial building block in the redefinition of Eighth Avenue from neglected little brother to an adult that's finally come into its own."

Once grungy Eighth Avenue is in dramatic transformation. The Mid town stretch boasts the New York Times head quarters at 40th Street, Worldwide Plaza at 49th Street and the Hearst tower at 57th Street.

SJP Properties will break ground this summer on 11 Times Square, an office tower between 41st and 42nd streets. Boston Prop erties is putting the finish ing touches on an assem blage between 54th and 55th streets.

Investor-developers including Steven Witkoff have numerous development sites as well.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #2  
Old Posted Nov 26, 2008, 10:33 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
http://www.observer.com/2008/real-es...ffice-building

Boston, Related Buy Big Development Rights for Eighth Avenue Office Building

by Dana Rubinstein
November 25, 2008

If their paper trail is any evidence, the ungodly economy is not preventing Mort Zuckerman and Stephen Ross from moving forward with plans to build an enormous office tower at 740 Eighth Avenue.

Word of the tower has been seeping into the news since last year, when Boston Properties and Related Companies revealed they were putting together the project’s footprint by buying out about six property owners at a reported price of $350 million.

The tower—on the east side of Eighth Avenue, between 45th and 46th streets, alongside the Imperial Theater and the Music Box—could rival the neighboring SJP Properties’ 11 Times Square and the New York Times tower in size at a possible 1 million square feet.

On Oct. 23, the developers filed requests to transfer a total of 120,319 square feet of development rights from the Jacobs, Booth and Broadhurst theaters, all owned by the Shubert Organization. The development rights would, according to the documents, be used “to construct an office building.”

The developers also requested “a special permit to build a 406-space attended public parking lot” on the site.

Neither developer’s reps would comment for this story. But sources say that Related and Boston have promised a local parking lot owner a garage in the new tower in exchange for the right to buy his property.

The Department of City Planning is currently reviewing the applications. The seven-month land-use review process is slated to begin some time in the coming months. So the tower, if completed, might just rise in tandem with the economy.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #3  
Old Posted Nov 26, 2008, 11:24 AM
babybackribs2314 babybackribs2314 is offline
Registered User
 
Join Date: Apr 2006
Location: UWS, Manhattan
Posts: 1,728
I feel like 8th is going to be the most impressive skyscraper canyon in 20 years... or maybe still behind 6th. It's just getting built up so quickly--and these buildings are genuinely canyon-like, with the NYTT and 11 Times Square not really being receded from the street. Oh, but this proposal, the PA tower, and the one on 55th are all very interesting.
Reply With Quote
     
     
  #4  
Old Posted Nov 26, 2008, 12:32 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
Quote:
Originally Posted by babybackribs2314 View Post
I feel like 8th is going to be the most impressive skyscraper canyon in 20 years... or maybe still behind 6th. It's just getting built up so quickly--and these buildings are genuinely canyon-like, with the NYTT and 11 Times Square not really being receded from the street. Oh, but this proposal, the PA tower, and the one on 55th are all very interesting.
Don't underestimate the Park Avenue canyon, which rivals 6th Ave in greatness...
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #5  
Old Posted Nov 27, 2008, 5:26 PM
ZZ-II's Avatar
ZZ-II ZZ-II is offline
Dubai goes Crazy
 
Join Date: Sep 2006
Location: Neuburg/Germany
Posts: 268
cool news, ny is booming in the crisis
Reply With Quote
     
     
  #6  
Old Posted Nov 27, 2008, 7:37 PM
NYC4Life's Avatar
NYC4Life NYC4Life is offline
The Time To Build Is Now
 
Join Date: May 2008
Location: Bronx, NYC
Posts: 3,004
And I thought NY's boom came to an end, here we go again with yet, another tower.
__________________
"I want to wake up in the city that never sleeps"
Reply With Quote
     
     
  #7  
Old Posted Nov 28, 2008, 4:07 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
^ This may take a while to come together, but the sooner the better...

__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #8  
Old Posted Dec 2, 2008, 10:00 PM
Dale Dale is offline
Registered User
 
Join Date: Dec 2001
Location: Orlando
Posts: 3,533
I don't understand how one-million sq.ft. constitutes 'enormous' in NYC.

Impressionable journalism ?
Reply With Quote
     
     
  #9  
Old Posted Dec 3, 2008, 2:05 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
Quote:
Originally Posted by Dale View Post
I don't understand how one-million sq.ft. constitutes 'enormous' in NYC.

Impressionable journalism ?
Yep.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #10  
Old Posted Jan 30, 2009, 3:04 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
Put on hold before it even began...
http://www.crainsnewyork.com/apps/pb...FREE/901299965

Times Square-area tower put on hold
Boston Properties and The Related Cos. pull back from Eighth Avenue project, take charges.


January 29, 2009

Boston Properties Inc. and The Related Cos. have put the breaks on ambitious plans to build an office tower in Times Square area.

The news was contained in the Boston Properties’ latest earnings report, which was released Thursday. That report showed that in the final quarter of the year the company recorded nearly $190 million in write downs and expenses related to three Manhattan office towers that it acquired from troubled real estate developer Harry Macklowe last year.

According to the earnings report, the two developers suspended work on the Eighth Avenue and 46th Street project in the fourth quarter. As a result of the suspension, Boston Properties reported a charge of about $23 million, which stems from forfeited contract deposits, planning and pre-development and other costs.

Boston Properties did not immediately return calls for comment, while Related declined to comment.

As recently as October, the developers had filed requests with the New York City Department of Planning to transfer 120,000 square feet of development rights from three nearby theaters on Eighth Avenue between 45th and 46th streets that are owned by the Shubert Organization. The rights were to be used to add extra stories to the planned tower. In addition, the developers had requested a special permit to build a 406-space public parking lot on the site. The applications for the transfer were officially withdrawn on Jan. 12, according to the Department of City Planning Web site.

Separately, Boston Properties reported Wednesday $188 million of impairment charges during the fourth quarter of 2008 due to the decline in fair value of some of its office properties in Manhattan. The company’s total charges for the quarter also included the expenses associated with the scrapped Times Square project.

Last year, it bought the three office towers—540 Madison Ave., Two Grand Central Tower and 125 West 55th St.—from Harry Macklowe for $1.1 billion at the same time it acquired the General Motors Building for $2.8 billion from Mr. Macklowe’s bank.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #11  
Old Posted Feb 16, 2011, 2:19 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
http://www.observer.com/2011/real-es...lideshow/title

740 Eighth Avenue



By Laura Kusisto
February 15, 2011

Quote:
During one of the bleakest months in recent memory, November 2008, Mort Zuckerman and Stephen Ross moved forward with plans to build a tower between 45th and 46th streets to rival nearby 11 Times Square. They bought up six property owners at a reported price of $350 million.

More than two years and a number of delays later, assemblage is complete, according to Cassidy Turley. A spokeswoman for Mr. Ross’ Related Companies said no further information was available.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #12  
Old Posted Feb 17, 2011, 12:49 AM
patriotizzy's Avatar
patriotizzy patriotizzy is offline
Metal Up Your !
 
Join Date: Jul 2010
Location: Bay Area, CA
Posts: 1,110
^^^^ I suppose we will be seeing renders sometime soon?
Reply With Quote
     
     
  #13  
Old Posted Feb 17, 2011, 6:37 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
Quote:
Originally Posted by patriotizzy View Post
^^^^ I suppose we will be seeing renders sometime soon?
We'll see. Related may be looking to jumpstart things on the railyards first, but Boston Properties may be willing to move forward.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #14  
Old Posted Jun 12, 2011, 9:20 AM
tommaso tommaso is offline
Registered User
 
Join Date: Feb 2009
Posts: 396
Will we be looking at an empty lot for a while here?
Reply With Quote
     
     
  #15  
Old Posted Aug 16, 2012, 2:30 AM
sbarn sbarn is online now
Registered User
 
Join Date: Feb 2004
Posts: 1,994
It sounds like this one will likely spring back to life: http://therealdeal.com/blog/2012/08/...est-side-site/.

Renderings.

http://www.bergflynn.com/work-1.html
Reply With Quote
     
     
  #16  
Old Posted Aug 16, 2012, 12:48 PM
yankeesfan1000 yankeesfan1000 is offline
Registered User
 
Join Date: Aug 2010
Location: 10014
Posts: 1,407
Nice to see this empty lot might finally get developed, even though the tower looks pretty dull. Hopefully Glenwood can get their tower across the street moving as well and another 8th Ave parking lot will bite the dust.
Reply With Quote
     
     
  #17  
Old Posted Aug 16, 2012, 3:22 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 35,078
I guess it will be better than an empty lot. Not sure if that rendering is anything current.
__________________
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #18  
Old Posted Aug 16, 2012, 6:31 PM
babybackribs2314 babybackribs2314 is offline
Registered User
 
Join Date: Apr 2006
Location: UWS, Manhattan
Posts: 1,728
Quote:
Originally Posted by sbarn View Post
It sounds like this one will likely spring back to life: http://therealdeal.com/blog/2012/08/...est-side-site/.

Renderings.

http://www.bergflynn.com/work-1.html
I believe those renderings are for a cancelled tower on the West Side of 8th, not the East.
Reply With Quote
     
     
  #19  
Old Posted Aug 16, 2012, 8:14 PM
Crawford Crawford is online now
Registered User
 
Join Date: Nov 2003
Location: Brooklyn, NYC/Polanco, DF
Posts: 14,254
Quote:
Originally Posted by babybackribs2314 View Post
I believe those renderings are for a cancelled tower on the West Side of 8th, not the East.
No, this site is on the East Side of 8th Ave.
Reply With Quote
     
     
  #20  
Old Posted Aug 17, 2012, 8:23 AM
NYC2ATX's Avatar
NYC2ATX NYC2ATX is offline
Yank in Tex
 
Join Date: Aug 2006
Location: JCNJ
Posts: 1,950
Quote:
Originally Posted by Crawford View Post
No, this site is on the East Side of 8th Ave.
True, this thread is for the site on the east side of Eighth. However, I believe babyback is correct. The address on the site of 301 West 46th indicates that it is the first address on the block between Eighth and Ninth, therefore the west side of Eighth. As far as the status of this tower you've just shown, I have no idea, but I don't believe this is proposed for the 740 site.
__________________
"Also, to be frank, I like dense cities best and care about them most." from The Death And Life of Great American Cities by Jane Jacobs.

BUILD IT. BUILD EVERYTHING. BUILD IT ALL.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > Proposals
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 1:25 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.