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  #1  
Old Posted Nov 14, 2014, 1:15 AM
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http://www.nydailynews.com/life-styl...icle-1.2010418


Major New York City developer wants to build giant rental tower near Hudson Yards
Jeff Levine's Douglaston Development has inked a contract to lease a whole blockfront in the West 30s







November 13, 2014


Quote:
The Hudson Yards area may be getting yet another high-rise tower, depending on whether the city plays ball.

Major New York City developer Jeffrey Levine has inked a contract to lease a massive site on 29th St. and 11th Ave. from a family that's owned it for more than a century, the Daily News has learned. But his ability to build on the site rests on whether the city will grant an upzoning, permitting him to build taller than current zoning law allows.

Levine, who already owns a 34-story rental tower across the street at 312 11th Ave., wants to bring a new rental tower to the 62,000-square-foot L-shaped lot.

The development site, which comprises an old Mobil gas station, a gallery and several small brick buildings, runs the entire length of 11th Ave. between 29th and 30th Sts. and encompasses nearly 40 % of the entire city block. Under the terms of the deal, Levine's Douglaston Development would head up construction of the tower and lease the site for 99 years, while the family would retain ownership of the land beneath.

Levine's deal for the site is contingent on the upzoning and how much he pays for the lease will ultimately rest on just how high the city allows him to build. The going rate for similar deals in the neighborhood is north of $300 per buildable square foot, experts said.

Levine declined to confirm the details of the deal, but a source close to the transaction said the mogul is "optimistic" about his chances of getting the zoning change.

Developers have been lining up to grab the site, which is in the up-and-coming Hudson Yards area on the west side.

The site is a skip and a jump from the Related Companies' Hudson Yards megaproject, a $20 billion residential and commercial development comprising 16 skyscrapers at the site of the West Side rail yard in the West 30s.

Douglaston is the development company behind the Edge condominiums in Williamsburg and the Zinc Building in Tribeca.


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Old Posted Nov 14, 2014, 1:26 AM
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Not a good idea right in flood zone 1. Exciting but at risk in the foreseeable future.

Last edited by NYguy; Nov 14, 2014 at 1:23 PM.
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Old Posted Nov 14, 2014, 1:23 PM
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Not a good idea right in flood zone 1. Exciting but at risk in the foreseeable future.

Yeah, that entire Hudson Yards district, and the apartments rising in the area, not a good idea...
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Old Posted Nov 14, 2014, 5:42 PM
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Well, if flooding is a risk, they need to do something about it soon. A barrier is needed for the future as you can't just allow that real estate to lie dormant in Manhattan.
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Old Posted Nov 15, 2014, 12:52 AM
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Originally Posted by aquablue View Post
Well, if flooding is a risk, they need to do something about it soon. A barrier is needed for the future as you can't just allow that real estate to lie dormant in Manhattan.
Agree but funding is an issue and real estate developers think it will happen overnight.

and people are too busy with Kim Karshina or brittney spears
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Old Posted Nov 15, 2014, 1:29 AM
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and people are too busy with Kim Karshina or brittney spears
Ah, the average American.

In terms of flooding, most likely they will figure out a solution once it occurs more. For some reason, people don't learn from the past. That flood barrier will start to make more sense for example once another big storm hits. And it will... just a matter of when. But I wouldn't worry. This area will be fine. This is Manhattan where talking about. While most of the city in a big storm will lose power, this island will be light because the city cares about it more. Its the truth. The wealthy areas will be okay, but for non-wealthy, better get a candle.
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Old Posted Nov 15, 2014, 1:43 AM
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As New York is a city completely surrounded by and in water, the building code reflects that.

If you want to read up on that, it's found here...
http://www.nyc.gov/html/dcp/html/flo...cy/index.shtml


An ongoing discussion on future flooding issues can be found here...
http://forum.skyscraperpage.com/showthread.php?t=202269


For any specific information regarding the proposed tower on this site, obviously post here.
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Old Posted Nov 15, 2014, 9:16 AM
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Originally Posted by aquablue View Post
Well, if flooding is a risk, they need to do something about it soon. A barrier is needed for the future as you can't just allow that real estate to lie dormant in Manhattan.
Flooding is not really an issue in newer buildings. The city already requires generators and vital mechanicals above the 1000 year floodplain.

When Sandy occurred, newer buildings were mostly unaffected. Old buildings were hard-hit.
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Old Posted Nov 15, 2014, 9:18 AM
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And That Daily News article sounds promising.

"Giant tower". Perhaps yet another supertall for Hudson Yards?
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Old Posted Nov 17, 2014, 9:08 PM
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http://jewishbusinessnews.com/2014/1...-hudson-yards/

Jeffery Levine Plans Another Luxury Tower At Hudson Yards


By Noam Meir
November 17, 2014


Quote:
New York City developer Jeffrey Levine’s Douglaston Development is planning on adding another skyscraper to Manhattan’s Hudson Yards development. Douglaston has contracted to lease a lot next to Hudson Yards for a new rental apartment tower.

The site, a 62,000 square foot L-shaped lot, is located along the length of 11th Ave between 29th and 30th streets. According to the New York Daily News Levine’s Douglaston Development would head up construction of the tower and lease the site for 99 years.

But there is a hitch in Mr. Levine’s plans. He would need to get the approval of New York City to build higher than current zoning laws allow.

Meanwhile, Levine has taken a firm position on whether New York is facing a housing bubble. He told Crain’s that the group of people who can afford to buy in the types of buildings that are being constructed in that city is just a small fraction of the city’s total residential population. He feels that fewer than 200,000 people make enough money to justify spending $3 million on a condo.

“I’m somewhat concerned, even with the meager 10,000 units [being produced annually], that supply and demand will start to level out, and you will see a flattening, not a falling, of condo prices,” he said.

That being the case one wonders why he is so interested in building yet another luxury tower in Manhattan and one so close to another such building that he already owns at that. Levine owns a 34story rental tower across the street from his new proposed project at 312 11th Ave.
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Old Posted Nov 25, 2014, 12:37 PM
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However large a residential development this is, it will fit in with the rapidly developing area...


November 24, 2014






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Old Posted Nov 26, 2014, 5:47 PM
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A fine addition to the HY area. It will add vibrancy to a new neighborhood and the popular High Line Park will surely attract residents to this area.

Last edited by Perklol; Nov 26, 2014 at 7:04 PM.
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Old Posted Nov 26, 2014, 6:52 PM
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Quote:
Originally Posted by Perklol View Post
Of course. It fits in well with 15 ft surge from Hurricane Sandy
Didnt NYguy tell you to stop?
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Old Posted Apr 17, 2017, 10:13 PM
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Douglaston Development looks to build 1.1M sf project near Hudson Yards

Quote:
Douglaston Development is looking to buy more than 150,000 square feet of air rights from the Hudson River Park Trust for a planned 1.1 million-square-foot, mixed-use development south of Hudson Yards.

Jeffrey Levine’s development company is looking to rezone properties it owns on the block west of 11th Avenue between West 29th and 30th streets, Politico reported. At the same time, the firm wants to purchase to sets of development rights from Hudson River Park totaling just a little more than 150,000 square feet.

Douglaston wants to build a pair of towers with up to 1,230 new apartments, 20 percent of which would be set aside as affordable housing under the city’s mandatory inclusionary housing program. One would be a 62-story building with 990 units and 15,000 square feet of retail at 601 West 29th Street, while the other would be planned as a 32-story mixed-use building with 206 units at 606 West 30th Street.

Chelsea City Councilmember Corey Johnson, who will play a key role in either approving or denying the project, said he’s keeping an open mind.
“It’s a complicated project. It’s the site that the Gateway tunnel runs immediately under when it comes into Manhattan,” he said. “I’m not opposed to it, but like any of these projects that are complicated, the details really matter. So there’s still a lot of work to do, but I’m not opposed to the housing on the site and I think it’s a good opportunity to get affordable housing and to get money for the Hudson River Park.”

Funds from the sale of the air rights could go toward building a pair of esplanades in the park. The City Planning Commission scheduled a hearing on the air rights sale for May 17.
========================
https://therealdeal.com/2017/04/17/d...-hudson-yards/
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  #15  
Old Posted Apr 17, 2017, 10:21 PM
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Based on new info:

NEW YORK | 309 11th Ave | FT | FLOORS

Change to:

NEW YORK | 309 11th Ave | FT | 62 + 32 FLOORS

1.1 mil sq ft will yield something big. And... 1230 units.
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  #16  
Old Posted Apr 17, 2017, 11:23 PM
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Cool. I'll be out of town until next week, but good to see the good news still coming.
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  #17  
Old Posted Apr 28, 2017, 12:41 AM
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From the Draft Scope...























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