NEW YORK | 270 Park Ave | 1,389 FT | 57 FLOORS - Page 42

NYguy · #**821** Posted **Feb 16, 2019, 8:20 PM**

Looking forward to seeing what design they came up ith for the plaza, but I really hope it isn't some elevated plaza.
Also, there was some talk a while back about the complicated issues of building over the rails...

https://www.crainsnewyork.com/real-e...a-mega-project

Quote:

Lieber said the MTA was working with JPMorgan "very collaboratively to resolve the issues of how to configure that structure and make sure it doesn't impact on our budget and schedule."

Lieber said the bank would reimburse the MTA for any design and consulting expenses incurred in evaluating how to accommodate the new tower.

It was not immediately clear if JPMorgan will have to modify the 72-story, Foster + Partners-designed building by of lopping off some of its upper floors to reduce its floor area. Larger towers generally require deeper footings to anchor them and reducing the project's size could make it easier to build without encroaching on East Side Access.

Quote:

JPMorgan representatives described the complexity of the site, stating that the bank will be forced to use many of the current footings for its existing tower as the foundation for its new spire because the web of train tracks and other infrastructure below ground left little to no room for additional or alternatively-located pilings.

Quote:

Originally Posted by NYguy

About 13 minutes into this clip, you can see the MTA board discussing 270 Park...

• Video Link

It's interesting that this tower will sit over the new LIRR concourse that will serve essentially as a west wing of Grand Central, and should open a couple of years before the tower. A lot of work going on.

You can see here where the tower sits over the complex...

digitallagasse · #**822** Posted **Feb 17, 2019, 10:49 PM**

It is incredible seeing all the complexity happening below ground. I wonder how much lighter and stronger materials will be leverage to make the most out of the existing footings.

NYguy · #**823** Posted **Feb 18, 2019, 4:01 AM**

Quote:

Originally Posted by digitallagasse

It is incredible seeing all the complexity happening below ground. I wonder how much lighter and stronger materials will be leverage to make the most out of the existing footings.

I don't know, but it was complicated enough just being over the rails. But that new LIRR concourse will be a game changer for the east side.

FEBRUARY 17, 2019

1.

2.

3.

4.

5.

6.

7.

8.

9. The landmarked 400 Madison, across from what would have been Chase's enclosed plaza...
https://www.400madison.com/

10.

11.

12.

13.

14. This plaza on the next block is somewhat in the configuration of Chase's as-of-right (as of demand really) plaza. I think they're gonna do something different though.

15.

JMKeynes · #**824** Posted **Feb 23, 2019, 9:06 PM**

Quote:

Originally Posted by NYguy

We should have an idea withing a coupe of weeks. Here's the City Planning schedule...

I wonder if new renderings will be released on Feb. 27th.

chris08876 · #**825** Posted **Feb 23, 2019, 11:25 PM**

Will be the moment of truth. For a world HQ, hopefully its not a soul crushing tower like most of JP Morgan's towers.

In other words, something that has character.

JMKeynes · #**826** Posted **Feb 24, 2019, 2:27 AM**

With Foster at the helm, I expect something pretty quotidian, but I hope that it’s better than 50 HY. Both of the “massing models” were.

NYguy · #**827** Posted **Feb 24, 2019, 6:53 AM**

Quote:

Originally Posted by JMKeynes

I wonder if new renderings will be released on Feb. 27th.

They are supposed to at least reveal the new plan. I don't know if we will get any real renderings, but it would be nice.

This will be interesting to watch as the building comes down, and we shift into construction mode next year. The way these towers are built above the rails north of Grand Central is very similar to what is taking place over the railyards in Hudson Yards.

A graphic look at the changes from KPF...

https://ui.kpf.com/blog/2016/2/2/his...al-development

Quote:

From a combination of historic maps, photographs, and data sets, KPFui modeled the development of Grand Central Terminal and the the surrounding neighborhood starting from the Grand Central Depot in the 1870's to today.

JMKeynes · #**828** Posted **Feb 24, 2019, 12:54 PM**

I agree. I hope that JPMC maximizes the height.

NYguy · #**829** Posted **Feb 26, 2019, 3:00 PM**

Here we go again...

https://www.bloomberg.com/news/artic...near-new-tower

JPMorgan Under Pressure to Fund Transit Upgrades Near New Tower

By Lily Katz
February 26, 2019

Quote:

JPMorgan Chase & Co. is under pressure to do more to fund transit improvements near its expanding midtown Manhattan headquarters, the latest instance of community leaders pushing a company to shoulder more of the costs of growth.

The bank plans to tear down its existing 52-story office tower at 270 Park Ave. so it can build a more modern skyscraper of approximately 70 floors on the site, a short walk from Grand Central Terminal. Ultimately, about 12,000 employees are expected to work there, twice as many as before.

The bank’s 2.4 million-square-foot (223,000-square-meter) project is the first under New York City’s 2017 rezoning of the Midtown East area. JPMorgan is able to build a taller tower because it agreed to buy so-called air rights from Grand Central Terminal and St. Bartholomew’s Church. It was required to contribute more than $40 million to a fund for public-space enhancements, but doesn’t have to make transit upgrades mandated for some other developers because its site falls outside of the requisite zone, said City Council Member Keith Powers.

But that hasn’t stopped politicians from pushing the bank to be a good neighbor. While the transportation upgrades aren’t legally required, the philosophy behind the rezoning “was to say when you increase density and height, you also have to address transit improvements in the area,” said Powers, whose district includes the JPMorgan site. “In addition to what they’re required to do, I’ve asked them to look at making enhancements to the Grand Central entrance adjacent to their building.”

Quote:

Last month, Manhattan Borough President Gale Brewer recommended that JPMorgan look at making a “significant contribution to transit infrastructure” that could include a new stairway and elevator entrances, an improved pedestrian corridor, repairs of the Grand Central train shed, and a power station for additional train service.

“As we move forward, we will continue to have ongoing engagement with city planning, the City Council and other stakeholders in pursuit of a world-class building that serves the needs of our company, the neighborhood and city,” said Andrew Gray, a JPMorgan spokesman.

JPMorgan’s talks with the city come after community activists protested plans by Amazon.com Inc. to build a new office hub in the Long Island City neighborhood of Queens, raising concerns about housing costs, strains on transport and tax breaks for the world’s richest company. Amazon this month withdrew its plans for Queens.

Quote:

The New York City subway serves around 6 million people every day, but riders frequently grapple with service problems due to underfunding and overcrowding. The Metropolitan Transportation Authority faced heightened criticism last year when it said that only 58.1 percent of weekday trains arrived on time in January.

“If you bring double the number of people, you have to contribute to upgrading your transportation system,” said Layla Law-Gisiko, acting chair of the Land Use, Housing & Zoning Committee of Manhattan’s Community Board 5. “You cannot expect the MTA to transport an additional 4,000 workers just because you wanted a fancier building.”

Quote:

Law-Gisiko, Brewer and Powers also took issue with the bank’s recent attempt to limit public space around its new tower. The rezoning requires sites as large as JPMorgan’s to provide at least 10,000 square feet of public space, but the company argued last year that it could only find room for 7,000 square feet. After months of public backlash, the firm said it would revise its proposal to include the requisite 10,000 square feet. It’s scheduled to present the updated plan to the City Planning Commission on March 13, and will then need to get the green light from Council Member Powers.

“It was an effort to be responsive to what was raised at the community board,” JPMorgan’s Gray said. “We heard them, and then went back to see what we could do to address it.”

JPMorgan expects structural demolition of 270 Park Ave. to start in April and take between 15 and 18 months, Gray said. The new building is scheduled to be completed as early as 2024. In the meantime, the bank is scattering workers across other locations throughout Midtown, Hudson Yards and the Financial District.

They were going to address that entrance anyway, but those bastard politicians approved the Midtown East rezoning, and they could have required all sites to contribute to transit, but they did not. JP Morgan should refuse, and build as of right. Not everything needs to be taken hostage by these greedy politicians, and they shouldn't be allowed to get away with it.

Quote:

While the transportation upgrades aren’t legally required, the philosophy behind the rezoning “was to say when you increase density and height, you also have to address transit improvements in the area,” said Powers, whose district includes the JPMorgan site.

The philosophy behind the rezoning was what the city approved. Period. It's only been a couple of years. They could go back and mandate that if they wanted to, but it wasn't mandated for this site. They could build the full tower as-of-right.

JMKeynes · #**830** Posted **Feb 26, 2019, 3:31 PM**

This is ridiculous. JPMC should pull an Amazon and move to Charlotte. They’d get billions in incentives and would be welcomed with open arms. I think that the delusional, Marxist NY officials need another serious Amazon-style smackdown so that they cease this extortion.

If they chase away all of the corporations and hard-working people to business-friendly havens in the Sun Belt, who do these Marxists think will pay for New York's absurd Medicaid and welfare benefits and obscene pensions (which, by the way, practically no one in the private sector gets)?

P.S.: Layla Law is delusional. The people who will work in this building take car services. They don’t ride the subways by and large.

Hudson11 · #**831** Posted **Feb 26, 2019, 4:55 PM**

Yeah, clearly Manhattan officials didn't learn from Amazon. Just because you're New York doesn't mean a lucrative company won't leave from over pestering. Chase has a history here but it's no longer Chase Manhattan. If there is a better place to go, they'll bail. However unlikely it is for them to halt plans (it seemed unlikely Amazon would), this build is already complicated enough and the building has yet to come down. Also, wasn't it reported that this tower will have a new entrance to the Metro North concourse?

Chase’s new Midtown HQ could be a supertall with new Metro-North access

Quote:

The purpose of the amendment is to shrink the amount of public space that would be provided with the new skyscraper. Under the adopted Midtown East rezoning plan, any new buildings in the area on a lot of more than 65,000 square feet must provide at least 10,000 square feet of publicly accessible open space.

Chase’s text amendment seeks to bring that number down to 7,000 square feet, but would result in what the amendment says would be a “a new and different form of year-round public open space for the area” that would be “attractive to the general user population and help enliven the Madison Avenue corridor.” It could be open from 7 a.m. to 10 p.m., with retail space and the ability to host private events. It would also have a direct underground connection to Metro-North trains at Grand Central Terminal, just a few blocks away.

NYguy · #**832** Posted **Feb 26, 2019, 6:27 PM**

Quote:

Originally Posted by Hudson11

Chase’s new Midtown HQ could be a supertall with new Metro-North access

It already has Metro-North access. Their proposal was for an indoor plaza that would move the connection inside the building (currently it's just outside).

It would remain in the current location, on the southwestern corner.

This is the way the current configuration works north of Grand Central...

The MTA was also contemplating adding another entrance on the north side of the building on 48th Street, but decided that would be redundant because of the entrance they have planned
just across the street on the northern side of 48th Street. These new entrances are for the LIRR concourse, but also have connections to the Metro North corridors.

Chase is already contributing to the neighborhood improvement fund, and the site sits just outside of the transit improvement fund. So the issue is, why was it left out of the transit improvement
district in the first place. Now, they want to go back and try and force it (Chase needs approval to move the plaza).

This is what they put in place:

Some might say, well Chase needs approval to move the plaza, so they should have to pay something for that. Well, they're going to have to redo that entrance anyway,
and add the $40 million to the neighborhood fund (and that's just from Chase) should count for something.

But you could also take issue with the fact that all of this money for improvements are only going to improve what is arguably one of the more flashier parts of town,
where that money could probably be better spent on some of the outer borough stations and transit areas.

I just say there is a lot of money going into Midtown East as it is as a result of the new towers (they're as-of-right, but developers have to pay for the privilege).
But it's never enough for greedy politicians who want to nickel and dime every development across this city. Never mind the fact that their presence alone generates for the city.

The Best Forumer · #**833** Posted **Feb 26, 2019, 6:29 PM**

keep us posted

yankeesfan1000 · #**834** Posted **Feb 26, 2019, 7:30 PM**

Quote:

Originally Posted by NYguy

Here we go again...

https://www.bloomberg.com/news/artic...near-new-tower

JPMorgan Under Pressure to Fund Transit Upgrades Near New Tower...

Or maybe a city with the sixth highest STATE budget in the country should get their act together, and be able to fund transportation upgrades without extorting private business.

These people are unreal.

NYguy · #**835** Posted **Feb 28, 2019, 2:53 AM**

Quote:

Originally Posted by yankeesfan1000

Or maybe a city with the sixth highest STATE budget in the country should get their act together, and be able to fund transportation upgrades without extorting private business.

Well, that too, and the same can be said for the general and street improvements to the district that these towers will fund.

NYguy · #**836** Posted **Mar 5, 2019, 12:10 AM**

https://www.cb5.org/cb5m/calendar/20...housing-zoning

Quote:

Wednesday, March 6th, 2019, at 6:00pm
SGI-USA NY Culture Center
7 East 15th Street

Agenda

- 26-30 West 39th Street, application for a six-month renewal of a building permit to allow for the completion of the foundation of a hotel presently under construction.

- Discussion of Assemblymember Linda Rosenthal's proposed state legislation re: mechanical voids

- Discussion of updated plan for the JPMorgan Chase building at 270 Park Avenue

NYguy · #**837** Posted **Mar 5, 2019, 3:50 PM**

Not anything we didn't already know, but if you walk around the site, you can see behind the fencing piles of debris from interior demo work already begun.

https://nypost.com/2019/03/04/jpmorg...build-new-one/

JPMorgan prepares to demolish HQ to build new one

By Steve Cuozzo
March 4, 2019

Quote:

As JPMorgan prepares to demolish its old headquarters at 270 Park Ave., archpaper.com reports that a work elevator has popped up alongside it. The 52-story structure is to come down so the bank can put up a modern, 70-story headquarters tower.

faridnyc · #**838** Posted **Mar 5, 2019, 7:14 PM**

We hope something exceeding 1600ft will rise here

Busy Bee · #**839** Posted **Mar 5, 2019, 8:14 PM**

Yeah, if something 1,600ft is proposed I'm gonna have to clean myself up.

NYguy · #**840** Posted **Mar 6, 2019, 3:57 AM**

Looks like it was removed from tomorrow's agenda at the CB5 meeting...

https://www.cb5.org/cb5m/calendar/20...housing-zoning

Quote:

Agenda

- 26-30 West 39th Street, application for a six-month renewal of a building permit to allow for the completion of the foundation of a hotel presently under construction.

- Discussion of Assemblymember Linda Rosenthal's proposed state legislation re: mechanical voids