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  #1  
Old Posted Feb 14, 2014, 2:59 PM
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Smile NEW YORK | 145 East 60th St | 1,240 FT | FLOORS



World-Wide Group snags Bloomingdale’s building for $37M
February 11, 2014 12:37PM
By Adam Pincus



Victor Elmaleh and 143-155 East 60th Street (Photo credit: Google)

Quote:
The development firm World-Wide Group paid $37 million for an 11-story commercial building at 155 East 60th Street across the street from Bloomingdale’s flagship store in Lenox Hill.

The purchase from Bloomingdale’s gives World-Wide a total of about 300,000 square feet of development rights along East 60th Street, between Lexington and Third avenues, a source close to the deal said.

The firm had previously acquired 143 (home to the famous dive bar, Subway Inn), 145-147, 149, 151 and 153 East 60th Street. With the new purchase, the firm now owns 200 feet of frontage along East 60th Street. It does not own the 20-foot wide corner building, 767 Lexington Avenue, city records show.

World Wide, headed by Victor Elmaleh, closed on the purchase of the 78,723-square-foot commercial building on Jan. 24, after going into contract in September, city records recorded today reveal.

That same day, the company took out a $26.5 million mortgage from M&T Bank covering the buildings from 143 to 153 East 60th Street, and a $32.5 million mortgage from the same lender secured by the newly acquired building.

World-Wide is active in the city. Last fall, it began construction on a long-stalled site in Long Island City where it is raising a $157 million rental building. It is also constructing a 59-story residential tower at 252 East 57th Street.

Here's what World-Wide Group has so far: 143-155 East 60th...


Google Maps

The assemblage is probably not complete, but regardless, it looks like something tall would make sense here. The same developer is also building...

NEW YORK | 250 E. 57th ST | 715 FT / 218 M | 59 FLOORS
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  #2  
Old Posted Feb 15, 2014, 3:32 PM
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With this location, and the potential huge air rights from Bloomingdales across the street, this will almost certainly be something extremely tall and thin, and superluxury residential.

Even without any air rights this could be a supertall.

It may also have a big retail component, because Lexington/60th, next to Bloomingdales is extremely valuable retail space. So maybe a retail base, with skinny residential setback from Lexington?
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  #3  
Old Posted Feb 15, 2014, 5:41 PM
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Quote:
Originally Posted by tubeworm View Post
Here's what World-Wide Group has so far: 143-155 East 60th...

Google Maps
-


This should be a major improvement. That large, blocky building at the end is exactly the type of structure that I like to see demolished.

As for 4-6 story walk-ups, they represent the bulk of the older buildings in the city, and I don't mind seeing them go.
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  #4  
Old Posted Feb 15, 2014, 6:20 PM
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Quote:
Originally Posted by Crawford View Post
It may also have a big retail component, because Lexington/60th, next to Bloomingdales is extremely valuable retail space. So maybe a retail base, with skinny residential setback from Lexington?
I didn't think of that-- very well possible. Now I'm thinking they may go as big as the Nordstrom Tower is with the retail component.

Looking at the maps, I'm wondering if/when 767 Lexington Ave will join the assemblage. That'd certainly be a flashy name for another luxury tower:

767 Lexington




GMAPS


Quote:
Originally Posted by Duck From NY View Post
As for 4-6 story walk-ups, they represent the bulk of the older buildings in the city, and I don't mind seeing them go.
Yea-- it looks like they've seen better days.
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Last edited by Hypothalamus; Feb 15, 2014 at 6:34 PM.
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  #5  
Old Posted Feb 15, 2014, 6:26 PM
sbarn sbarn is offline
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Quote:
Originally Posted by Crawford View Post
With this location, and the potential huge air rights from Bloomingdales across the street, this will almost certainly be something extremely tall and thin, and superluxury residential.

Even without any air rights this could be a supertall.

It may also have a big retail component, because Lexington/60th, next to Bloomingdales is extremely valuable retail space. So maybe a retail base, with skinny residential setback from Lexington?
Unless you're in a special zoning district, I don't think you can't transfer FAR across streets. Generally you need to share a common lot line, or have a group of buildings with at least one that shares a common lot line.

Regardless, this seems like a great place for a large tower!
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  #6  
Old Posted Nov 2, 2014, 5:40 AM
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http://www.nytimes.com/2014/11/02/re...town-east.html

Reshaping Midtown East
New Condos Coming to Midtown East

By RONDA KAYSENOCT. 31, 2014


A tower is planned for 60th Street between Lexington and Third Avenues, left, and to make room, businesses like the Subway Inn will relocate. Retail and residential projects are planned for an assembled parcel near the limestone Decoration and Design Building. Credit Ozier Muhammad/The New York Times

Quote:
On East 60th Street between Lexington and Third Avenues, World Wide plans to build a residential development across from Bloomingdale’s. “That will also be a tall tower,” said Ms. Hodgson, adding that it would “be a similar type of development” to the East 57th Street project. To make way for the tower, World Wide has been steadily assembling low-rise buildings on the block, including the building that houses the Subway Inn, a beloved dive bar that has been in its location for 77 years. But World Wide did not renew the bar’s lease and on Dec. 2, the storied tavern is scheduled to close and later move to a new location on Second Avenue and 60th street, two blocks away.
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  #7  
Old Posted Nov 2, 2014, 11:01 AM
JR Ewing JR Ewing is offline
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Does anyone know if the developer is negotiating for the building on Lex?

As per ACRIS, Debra Fechter and entities associated with her have owned since 1989.

https://a836-acris.nyc.gov/DS/Docume...lt?max_rows=50


2361/852
20
ENTIRE LOT
6/16/1996
8/26/1996
DEED
10
FECHTER, DEBRA TRUSTEE
60 SPECIAL LLC



0

1780/786
20
ENTIRE LOT
4/30/1991
5/6/1991
DEED
3
FECHTER, DEBRA TRSTEE
FECHTER, DEBRA TRSTEE



0

1644/2058
20
ENTIRE LOT
9/20/1989
12/5/1989
DEED
3
FLECHTER, DEBRA
FLECHTER, DEBRA



0

1644/2055
20
ENTIRE LOT
9/20/1989
12/5/1989
DEED
3
FECHTER, DEBRA TRSTEE
FECHTER, DEBRA TRSTEE



0

1621/2382
20
ENTIRE LOT
9/14/1989
9/25/1989
DEED
3
226 REALTY CORP
FECHTER, DEBRA

Last edited by JR Ewing; Nov 2, 2014 at 11:37 AM.
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  #8  
Old Posted Nov 3, 2014, 5:02 AM
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With that amazing location, I will be very disappointed if it isn't a supertall.

Can you imagine the views over Central Park and the Upper East Side? This site has much better views than 432 Park.
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  #9  
Old Posted Nov 3, 2014, 5:14 AM
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^^^
keep in mind that 520 Park Avenue/45 east 60th will be just a block away but have to check google maps to see their exact locations in relation to each other
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Old Posted Nov 3, 2014, 5:23 AM
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They should add the subway entrance to the base of the building for bonus air rights...
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  #11  
Old Posted Nov 3, 2014, 5:32 AM
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Quote:
Originally Posted by sparkling View Post
^^^
keep in mind that 520 Park Avenue/45 east 60th will be just a block away but have to check google maps to see their exact locations in relation to each other
That's an even better location than this tower site, but there are greater zoning restrictions on that block, so they could never build a supertall.

Still, a nearly 800 ft. tower at Park & 60th will have pretty amazing views. If this tower (the Lexington & 60th site) is built even taller, the views might be some of the best anywhere in NYC.
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  #12  
Old Posted Nov 3, 2014, 8:12 AM
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Quote:
Originally Posted by Crawford View Post
With that amazing location, I will be very disappointed if it isn't a supertall.

Doubt it would be a supertall.


Quote:
it would “be a similar type of development” to the East 57th Street project.
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Old Posted Nov 5, 2014, 4:59 PM
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We might be looking at a 900' tower.
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  #14  
Old Posted Nov 14, 2014, 2:43 PM
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A potential tower, taken from www.cityrealty.com

About as high as Bloomberg...










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  #15  
Old Posted Nov 15, 2014, 9:21 AM
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Originally Posted by NYguy View Post
A potential tower, taken from www.cityrealty.com

About as high as Bloomberg...
Yeah, but that Cityrealty image isn't based on anything. It's just a placeholder based on news reports. We have no idea of height, design, or anything.
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  #16  
Old Posted Nov 15, 2014, 3:18 PM
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that cityrealty stuff is beyond awful
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  #17  
Old Posted Nov 15, 2014, 8:26 PM
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Quote:
Originally Posted by NYguy View Post
Not to get o/t, but whats the one in between this one and 250e57?
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  #18  
Old Posted Nov 15, 2014, 10:21 PM
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Hi guys. I'm the creator of these models and I appreciate all your commentary. These threads have been a supreme resource in helping me keep the models updated for ongoing projects, the models are based on the building diagrams and drawings submitted by the developers to the city. But as you all know, there are many projects with unreleased designs so I left placeholders at those sites.

Scalziand: that's also a hypothetical model for a project Macklowe is building at the corner of Second Avenue and 59th. It's said to be fairly tall. Also, the World-Wide tower at the corner of 60th and Lexington is also a hypothetical massing model (just approximated at around 800') and there's another massing volume in the foreground at 1059 Third Avenue which is around 500' tall. I'll accurately replace them all once a rendering is uncovered.

I have most of the Hudson Yards and Downtown towers done and can't wait to share those with you soon.

Sorry if the models are not 100% accurate like the developer's renders, but I don't have access to the full building plans, often all I have are zoning diagrams showing general massing, overall building height and the official released render(s), so that makes it pretty tricky to get it perfect. But for an overall view of NYC, I think it's a pretty decent model of the city.

Last edited by quantj; Nov 15, 2014 at 10:32 PM.
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Old Posted Nov 15, 2014, 10:38 PM
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Quote:
Originally Posted by quantj View Post
Hi guys. I'm the creator of these models and I appreciate all your commentary. These threads have been a supreme resource in helping me keep the models updated for ongoing projects, the models are based on the building diagrams and drawings submitted by the developers to the city. But as you all know, there are many projects with unreleased designs so I left placeholders at those sites.

Scalziand: that's also a hypothetical model for a project Macklowe is building at the corner of Second Avenue and 59th. It's said to be fairly tall. Also, the World-Wide tower at the corner of 60th and Lexington is also a hypothetical massing model (just approximated at around 800') and there's another massing volume in the foreground at 1059 Third Avenue which is around 500' tall. I'll accurately replace them all once a rendering is uncovered.

I have most of the Hudson Yards and Downtown towers done and can't wait to share those with you soon.

Sorry if the models are not 100% accurate like the developer's renders, but I don't have access to the full building plans, often all I have are zoning diagrams showing general massing, overall building height and the official released render(s), so that makes it pretty tricky to get it perfect. But for an overall view of NYC, I think it's a pretty decent model of the city.
Thank you for creating them: I think I speak for everyone when I say they are greatly appreciated.
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  #20  
Old Posted Nov 16, 2014, 4:12 AM
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Thanks!
I never expected nor intended it to be popular like this, it was just meant to help illustrate the new views of the city. Admittedly some of my earlier models were not as detailed. I'll be sure to do a better job in the future.
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