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  #1721  
Old Posted Jun 11, 2020, 7:38 PM
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Quote:
Originally Posted by Zapatan View Post
That's cool, I think the last PWH read 1341, meaning the tower could now be roughly 1470' high?

We shall see...

Yes, it was listed at a height of 1,322 ft with a PWH of 1,341 ft. Now they are both listed as 1,388 ft. That could still be the actual height, but we’ll have to wait and see.
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  #1722  
Old Posted Jun 11, 2020, 8:12 PM
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Patience is a Virtue. Either way... worst case scenario, we get a 1300 ft tower lol. Ahh... the horror. We a bunch of spoiled folks is what we are.
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  #1723  
Old Posted Jun 12, 2020, 2:56 AM
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  #1724  
Old Posted Jun 13, 2020, 1:02 AM
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Original New Building permit, and permit as it is now...


2019





2020







When the zoning diagrams are released, we will finally have a solid idea of what the final height will be.








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  #1725  
Old Posted Jun 13, 2020, 1:36 AM
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Does 57 just refer to the occupied count, or total?

Such an insanely low floor count for a building this high, nearly 25 ft/on average
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  #1726  
Old Posted Jun 13, 2020, 2:01 AM
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Originally Posted by Zapatan View Post

Such an insanely low floor count for a building this high, nearly 25 ft/on average
Because this building has massive trading floors. The trading floors are almost arena-like.

In the late 1990's, Goldman Sachs almost went ahead with an all-trading floor office structure on Water Street in Lower Manhattan. It was something like 10 floors and 450 ft.
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  #1727  
Old Posted Jun 13, 2020, 2:05 AM
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Yeah, 57 is official, though I do believe it's actually more like 58. This will be JPMC's trophy tower.
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  #1728  
Old Posted Jun 15, 2020, 9:34 PM
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https://www.bloomberg.com/news/artic...fice-next-week

JPMorgan to Start Bringing More Traders Back to Office Next Week

By Michelle F Davis
June 15, 2020


Quote:
JPMorgan Chase & Co. plans to start returning more traders to its Manhattan trading floors next week as the biggest U.S. bank begins formally reopening offices with New York exiting total lockdown.

The company will bring volunteers back to its 383 Madison Ave. tower in waves starting June 22, ramping up from 20% of sales and trading staff in the office to about 50% by the middle of next month, according to a person with knowledge of the matter. Other parts of the firm are still formalizing their strategies for bringing employees back. JPMorgan spokesman Brian Marchiony confirmed that the bank plans to gradually return traders to the office
Quote:
JPMorgan real estate and technology staffers have been rearranging desks and reformatting floor-plans over the past few weeks to make sure traders can maintain social distance when they return to 383 Madison, which is serving as the bank’s temporary headquarters as it constructs a new building on Park Avenue.

Desks will be marked with red or green stickers to signal where workers can sit, and some routes around offices will be one-way only, said the person, who asked not to be identified because the plans are private.

The bank also has implemented a queue system for elevator banks and reduced capacity of elevators to ensure distance can be maintained, the person said. Employees will be required to wear masks when walking through communal areas or in places where it’s harder to maintain distancing, such as elevators.
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  #1729  
Old Posted Jun 16, 2020, 9:59 PM
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It's harder to make out how much has come down from street level at this stage. Here's a look from above...


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  #1730  
Old Posted Jun 23, 2020, 12:02 PM
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  #1731  
Old Posted Jun 24, 2020, 11:10 AM
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Quote:
Originally Posted by Crawford View Post
In the late 1990's, Goldman Sachs almost went ahead with an all-trading floor office structure on Water Street in Lower Manhattan. It was something like 10 floors and 450 ft.
That's interesting. Are there any renders online?
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  #1732  
Old Posted Jun 26, 2020, 1:53 PM
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Today is the one year anniversary of the initial New Building filing. Let's pick up the pace folks. I wanna see that diagram.




http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01
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  #1733  
Old Posted Jun 26, 2020, 3:58 PM
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A follow up to that purchase last year...


https://commercialobserver.com/2020/...enue-for-115m/

JP Morgan Chase Closes on 410 Madison Avenue For $115M




BY STEVE CUOZZO
JUNE 26, 2020


Quote:
It was more than a year in coming, but JP Morgan Chase closed on its closely-watched $115 million purchase of 410 Madison Avenue from Bank of China, according to just-posted city property sale data.

The negotiations were first reported back in March of 2019, but there’s been radio silence ever since. There was speculation that Chase might change its mind due to the coronavirus crisis. But in fact, it paid slightly more than the $100 million the Chinese bank was asking at the time.

The seven-story, 57,000 square-foot red-brick structure at East 49th Street could be redeveloped up to over 100,000 square feet under the recent East Midtown rezoning.

Both giant banks are undergoing major occupancy transitions. Bank of China moved to a new tower at 7 Bryant Park a few years ago, while JP Morgan Chase is shuffling staff as it redevelops a new tower to replace its old one at 270 Park Avenue.

Chase began moving employees into 410 Madison even before the sale was completed, sources said.
Quote:
While a $115 million sale isn’t in the league of pre-COVID transactions of up to $1 billion, the deal is an affirmation of at least some energy in the pandemic-paralyzed investment-sale market. It will also bring more than $3.7 million in combined real property transfer and real estate transfer taxes to depleted city coffers, according to city Finance Department records.
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  #1734  
Old Posted Jun 26, 2020, 6:06 PM
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I hope that JPMC keeps the BoC building as is. I want to see the whole adjacent block redeveloped if JPMC needs extra space.
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  #1735  
Old Posted Jun 26, 2020, 6:51 PM
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Yeah, given the small footprint, I assume JPMC is thinking long-term here. If they ever need a second HQ tower, this would be an obvious location, utilizing the entire blockfront and Grand Central air rights.

I always thought that Bank of China building was a survivor from 100 years ago. It's actually from the 1960's, and there was a small side addition maybe 15 years ago.
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  #1736  
Old Posted Jun 26, 2020, 10:52 PM
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Originally Posted by Crawford View Post
Yeah, given the small footprint, I assume JPMC is thinking long-term here. If they ever need a second HQ tower, this would be an obvious location, utilizing the entire blockfront and Grand Central air rights.

I always thought that Bank of China building was a survivor from 100 years ago. It's actually from the 1960's, and there was a small side addition maybe 15 years ago.
The remaining Grand Central air rights will be going to the Grand Hyatt Development. There are other air rights that can be transferred, but the question is what does JPMC want to do with the site.
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  #1737  
Old Posted Jul 14, 2020, 1:42 AM
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Credit: bpc
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  #1738  
Old Posted Jul 16, 2020, 10:22 PM
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http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01

Quote:
07/16/2020

SHAFT HOIST: INSTALLATION OF DUAL 6000 LBS CAPACITY PERSONNEL/MATERIAL HOISTS DURING BLDG DEMOLITION, FILED SEPARATELY. DUAL HOIST SHALL COMPLY WITH CHAPTER #33 OF THE NYC BUILDING CODE. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION. ELEVATOR APPLICATION SUBMITTED SEPARATELY TO ELEVATOR DIVISION.
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  #1739  
Old Posted Jul 19, 2020, 3:59 AM
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JULY 18, 2020


This building is now noticeably shorter. The Vanderbilt plaza will be complete in a month or so, and from here we can watch the remains of this tower come down, and the new tower rise into prominence.











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  #1740  
Old Posted Jul 19, 2020, 2:45 PM
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JULY 18, 2020


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From this earlier photo, it looks like they are about a quarter of the way down...



(Nov 2019)





(Jan 15)

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Last edited by NYguy; Jul 19, 2020 at 3:33 PM.
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