NEW YORK | One57 (Carnegie 57) | 1,005 FT | 75 FLOORS - Page 47

scalziand · #**921** Posted: **Dec 19, 2010, 5:20 AM**

Quote:

Originally Posted by Roadcruiser1

Not being mean here, but those pictures makes me think that a six story apartment building is under construction not a huge 1005 ft skyscraper.

Keep in mind that the main shaft of the tower is setback quite a bit from 58th street, so it does make since that the columns along 58th are only big enough to support the podium and not the entire tower. I believe that hidden within the mass of construction is a second row of much more substantial columns suitable for supporting the tower.

Dac150 · #**922** Posted: **Dec 19, 2010, 7:25 PM**

Plus full financing hasn’t been secured yet, so only so much preliminary work will be done. Once financing is locked in then I would expect the tower to rise on a more consistent pace.

mrnyc · #**923** Posted: **Dec 20, 2010, 5:29 PM**

i'm actually very surprised because for not being fully funded, its not moving at a terrible pace at all. slow progress, but progress!

RoldanTTLB · #**924** Posted: **Dec 20, 2010, 10:08 PM**

There's no good design renderings for various elements of this building, but it's obvious that there will be a triple or quadruple height lobby on the 58th st side (likely for the residences, the hotel entrance will go on the busier side). That is a recipe for taking a long time - just look at the scaffolding they've been setting up to build it. There is no doubt that once the podium is finished, much like 8 Spruce, or 4WTC, or any other tower-on-a-base built in this city, it will take off.

JohnFlint1985 · #**925** Posted: **Dec 21, 2010, 11:55 PM**

I finally made it today

As of today they are building the 5th floor. :okay:

photoLith · #**926** Posted: **Dec 22, 2010, 5:57 AM**

^
Great pictures, thanks for the update. Glad that this building will also be covering up that blank side facade of that glass building next door.

corridor_dweller · #**927** Posted: **Dec 23, 2010, 9:59 PM**

Quote:

Originally Posted by JohnFlint1985

I finally made it today

As of today they are building the 5th floor. :okay:

It only looks like three floors in the pictures. Am I not seeing something?

scalziand · #**928** Posted: **Dec 24, 2010, 3:47 AM**

Quote:

Originally Posted by corridor_dweller

It only looks like three floors in the pictures. Am I not seeing something?

The lobby is double height-there appears to be a partial floor if you look closely, so that takes care of one of the 'missing' floors. As for the fifth floor, no, it's not there. That's why it's being built.

NYguy · #**929** Posted: **Dec 24, 2010, 5:20 PM**

Quote:

Originally Posted by JohnFlint1985

I finally made it today

As of today they are building the 5th floor. :okay:

Supertall and streetall...

NYguy · #**930** Posted: **Dec 27, 2010, 3:13 PM**

^ That should read "streetwall", but oh well.

Meanwhile, Barnett tries his method again...

http://online.wsj.com/article/SB1000...googlenews_wsj
Risky Venture in Diamond District

By ELIOT BROWN
December 27, 2010

Quote:

At a time when banks are reticent to finance any new buildings in the city, real-estate firm Extell Development says it will begin work on its planned 34-story International Gem Tower office building in Midtown even without a loan to finance its construction.

Developers rarely build without loans to finance construction given the high costs and risks. Banks have been particularly cautious in making such loans in the past three years, requiring landlords to have tenants committed to lease major portions of buildings at healthy rents.

Raizy Haas, a vice president at Extell in charge of the project, described the decision to move ahead as a "calculated risk," one that the firm's equity partners had agreed to fund.

Compared with typical buildings that begin construction in tough markets, that commitment level is low.

"At some point in the process, we're going to go to the banks and get a construction loan," she says. "But being able to have the commitment from the equity partners allows us to go ahead even without construction."

The pledges of new construction reflect the unorthodox style of Extell, led by Gary Barnett, a onetime diamond trader who is building at a time when many developers believe conditions are far too inclement to justify new construction. This summer, Mr. Barnett began work on a 1,000-foot high-end residential and hotel tower across from Carnegie Hall without a construction loan. He said Abu Dhabi-based Aabar Investment was funding much of the equity for the tower.

Other than that project, now rising a few stories above street-level, there has been a drought of new construction of large projects in the city since the recession hit.

NYC4Life · #**931** Posted: **Dec 27, 2010, 5:53 PM**

If only more of the stalled projects in the city can begin construction without the loans. Gotta love Barnett though and his gambles. This guy builds with extreme confidence.

OneWorldTradeCenter · #**932** Posted: **Dec 28, 2010, 2:54 PM**

Why is the tower crane beside the buiding and not atop the core?

NYC4Life · #**933** Posted: **Dec 28, 2010, 8:32 PM**

Quote:

Originally Posted by OneWorldTradeCenter

Why is the tower crane beside the buiding and not atop the core?

Neighboring buildings are too close perhaps?

JSsocal · #**934** Posted: **Dec 28, 2010, 8:55 PM**

Consider that if the crane was in the center of the building then it would need a longer boom to reach to the street to where the materials are, and with the neighboring buildings so close by as NYC4Life pointed out, the crane could accidentally strike one of those buildings much more easily. Also consider the L shape of the site, making it impractical for a core mounted crane.