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  #1  
Old Posted May 8, 2012, 10:35 AM
RobertWalpole RobertWalpole is offline
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Smile NEW YORK | 237 Park Ave | FT | FLOORS

Do you guys remember this one? It might be a nice location for the five or so law firms looking for space.

http://www.nypost.com/p/news/busines...upHC78nyXQDIlK
     
     
  #2  
Old Posted May 8, 2012, 12:12 PM
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Quote:
Originally Posted by RobertWalpole View Post
Do you guys remember this one? It might be a nice location for the five or so law firms looking for space.

http://www.nypost.com/p/news/busines...upHC78nyXQDIlK
How tall would that be?
     
     
  #3  
Old Posted May 9, 2012, 12:24 AM
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It's not in proposal status yet, but it's good to see Park Avenue back in the game.


http://therealdeal.com/blog/2012/05/...-office-tower/
Lehman could facilitate second new Park Avenue office tower



From left: 230 Park Avenue and 237 Park Avenue (credits: PropertyShark)


May 08, 2012

Quote:

Just two weeks after L&L Holdings requested proposals for Park Avenue’s first new office tower in three decades, speculation is growing that a second new tower could rise on the avenue. According to the New York Post, now that Lehman Brothers Holdings has full control over 237 Park Avenue it is considering building a new tower on the property, near 45th Street.

Monday Properties both manages 237 Park Avenue and owns the neighboring building at 230 Park Avenue. The addresses were going to be merged for zoning lot purposes in order to construct a new tower around 237 Park Avenue. But to build that new tower, developers need about 1.5 million square feet of air rights, which is owned by Lehman Brothers and Argent Ventures. Now that Lehman has a stake in the properties, and considering it already has a stake in the air rights, perhaps the landlords can strike a deal for additional air rights and expand atop the existing structure or build a new one entirely, the Post said.



jevidal

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  #4  
Old Posted May 9, 2012, 1:04 AM
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It's not in proposal status yet, but it's good to see Park Avenue back in the game....
Hi, NYGuy: For future reference, What does FT stand for?
     
     
  #5  
Old Posted May 9, 2012, 1:50 AM
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That would be a shame, 237 is actually my favorite on that stretch.
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  #6  
Old Posted May 9, 2012, 2:06 AM
RobertWalpole RobertWalpole is offline
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That would be a shame, 237 is actually my favorite on that stretch.
237 Park, which is really more on Lex than Park, is a squat, granite box. The tower will rise above it.
     
     
  #7  
Old Posted May 9, 2012, 2:30 AM
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Yeah, 237 Park isn't in any of those pics.

It's a white, early 1980's box, with a huge atrium. It's ugly.

With the 1.5 million sq. ft. air rights, a giant tower could rise. The current tower has 1.2 million sq. ft.

Can you imagine a nearly 3 million square foot office tower in this location? With direct access to Grand Central? Wow.
     
     
  #8  
Old Posted May 9, 2012, 2:40 AM
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The right-hand picture cited in NYGuy's post is exceptionally misleading. That's *245* Park and not the dumpy thing talked about here.
     
     
  #9  
Old Posted May 9, 2012, 2:51 AM
RobertWalpole RobertWalpole is offline
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Originally Posted by Crawford View Post
Yeah, 237 Park isn't in any of those pics.

It's a white, early 1980's box, with a huge atrium. It's ugly.

With the 1.5 million sq. ft. air rights, a giant tower could rise. The current tower has 1.2 million sq. ft.

Can you imagine a nearly 3 million square foot office tower in this location? With direct access to Grand Central? Wow.
Look closely. The top of it is visible just to the left of 230 Park.

P.S.: Assuming that the mayor's rezoning proposal is approved, perhaps even more than 1.5m sf will be forthcoming. As you point out, this will be very tall!
     
     
  #10  
Old Posted May 9, 2012, 3:41 AM
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Great news. Another project in Midtown East. As I have mentioned in another thread, it seems that the "dream" Bloomberg is working.

This site is located near great buildings like Metlife and Chrysler. I hope something good up here... I'll cross my fingers.
     
     
  #11  
Old Posted May 9, 2012, 4:03 AM
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Well that's reassuring . . . I should've known that address.
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  #12  
Old Posted May 9, 2012, 4:20 AM
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237 Park seen here. Pretty uninspiring.

     
     
  #13  
Old Posted May 9, 2012, 1:29 PM
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Originally Posted by RobertWalpole View Post
Hi, NYGuy: For future reference, What does FT stand for?
It's reserved for the height (600 FT, 700 FT, etc.)



Some overhead from GoogleEarth to clarify location:














From the City Review...
http://www.thecityreview.com/paatrium.html
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  #14  
Old Posted May 9, 2012, 4:05 PM
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If something containing 2.7 MSF were to rise here, I'd imagine it could look something like this.



http://suchcharminglives.tumblr.com/...-ohmygod-youll
     
     
  #15  
Old Posted May 9, 2012, 4:40 PM
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If something containing 2.7 MSF were to rise here, I'd imagine it could look something like this.



http://suchcharminglives.tumblr.com/...-ohmygod-youll
Not if MetLife has anything to say about it.
     
     
  #16  
Old Posted May 9, 2012, 5:59 PM
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From my perspective, there's no way this is going to be shorter than 900-1000ft, judging by a comparison with the Bank of America Tower. BOA is approximately 900 ft, but only has 2.1 msf on a larger site with large trading floors. This is a smaller site with a third more air rights, possibly even more with the upcoming rezoning. A more likely height is ~1300ft.
     
     
  #17  
Old Posted May 9, 2012, 7:12 PM
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Originally Posted by 401PAS View Post
Not if MetLife has anything to say about it.
Minor detail!

This should definitely be 1,000'+, though. I think 1,200-1,500 would be a likely range, although anything above 1,200 could just be architectural (spire or whatever).
     
     
  #18  
Old Posted May 10, 2012, 1:03 AM
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Quote:
Originally Posted by babybackribs2314 View Post
If something containing 2.7 MSF were to rise here, I'd imagine it could look something like this.

It's funny you should bring that up, because with the City's plan to allow developers tear down and build bigger becoming a reality, the bigger buildings around Park Ave, like the MetLife, could be eclipsed. Park Avenue will get some of that west side buzz. But the article below talks about this fictional Park Avenue tower, and how effective such a tower would be in this location.


http://www.rew-online.com/2012/05/09...-to-marvel-at/

Stark Tower: Something to Marvel at

May 9, 2012
BY SARAH TREFETHEN

Quote:

Among the superhero clashes and camaraderie of Marvel’s The Avengers, which shattered box-office records when it opened this weekend, the movie features another strong personality (and accomplished movie star) often left in the background: midtown Manhattan. For those in the real estate industry, the blockbuster’s buildings — both real and imaginary — may be as much fun to watch as Mark Ruffalo’s dramatic transformations into the Incredible Hulk.

The block of 42nd street in front of Grand Central Station is the scene of a final battle between Captain America et al and a flying army of alien invaders, with plenty of spillover into the surrounding neighborhood. “As a real estate person you’re sitting there, unlike a normal person, thinking about the buildings,” said Michael T. Cohen, president of Colliers Tri-State. “I saw 120 Park, 125 Park, and I said to myself, I wonder what the owners of those buildings feel, watching them getting torn up by extraterrestrials.” Chris Hemsworth’s Thor, needing something to steady himself while shooting lightening bolts towards a wormhole the sky, turns to the spire of the Chrysler Building.

But the property that sees the most action isn’t part of anyone’s Manhattan portfolio. Stark Tower, the fictional creation of Tony Stark (also know as Iron Man, played in the movie by Robert Downey Jr.), looms above Grand Central, tapering slightly to a height of about 1,000 feet and topped with a specialized landing strip for Iron Man’s flying suit that also serves as a more conventional helicopter pad. The upper stories are Stark’s personal penthouse. “It’s clearly an office building that would attract high-end corporate users,” said Wes Rudes, senior vice president at the tenant representation firm Cresa, who watch the movie with his 8-year-old son over the weekend. “It is, however, way too big a target for alien terrorists to command top rents.”

“In choosing the MetLife location we were also recognizing the rich topography of the streets below … the ultimate conflagration of rich histories and futuristic ideas,” Chinlund said. But Cohen questioned the choice of neighborhood. “I don’t think they picked the most upscale location. The Grand Central market is kind of soft right now, and what sells is park views. If I were Tony Stark, I would have put Stark Tower up by the General Motors building,” he said. “The tower’s floor plates also looked a little on the small side.”

Like Rudes, Cohen worried that superhero use might not be compatible with midtown’s more traditional mix of banking, business and law. “The Hulk’s presence in any building would drive down rents,” he said. Nonetheless, Cohen was confident space in the building would lease for a more than $100 a foot. “It certainly looked to me like at least a million square foot tower,” he said, estimating a market value upwards of $1 billion...


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  #19  
Old Posted May 11, 2012, 1:06 AM
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I didn't like Stark's tower. Looked way too tacky, and unNew Yorkish.
     
     
  #20  
Old Posted May 11, 2012, 1:38 AM
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Whatever they come up with here, I hope it's something that relates well to the Chrysler, and maybe even contain a spire. A "Chrysler" for the 21st century, and a counter to the flat 432 Park. But the location is fantastic for an office tower.
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