New York Supertalls

[The North One]

Originally Posted by M II A II R II K

With all of these billionaire rows being created, will the property tax charges go towards improving city services and stuff..

Highly unlikely.

But one can dream.

[M II A II R II K]

The extra tax revenues would go towards making sure the billionaires toilets flush properly and stuff, but that's about it.

[NYguy]

^ Some people wanted to tax the "views" themselves...

http://www.nytimes.com/2015/12/31/op...iews.html?_r=1

Make Them Pay for Park Views

By MAX FRANKEL
DEC. 30, 2015

NEW YORKERS, and particularly Manhattanites, are wringing their hands about the two dozen or so supertall luxury towers sprouting along the southern edge of Central Park. The builders are charging up to $100 million for apartments that offer helicopter views of lush foliage, jagged skylines, soothing rivers and angelic clouds. They lure the superrich, many with suspect foreign assets, to sky-high mansions. They enrich themselves by exploiting weak zoning rules to pour hideous implants into Manhattan cavities.

Like the braggadocio towers of medieval Florence, these concrete fingers in the sky mar the view for the rest of us for miles around. Maybe new laws and regulations will eventually limit their number and size, but much damage is already done, and the profits they earn are bound to sustain the trend for quite a while. Residents around Prospect Park, in Brooklyn: Beware. Oceanfront Queens: Wanna look like Miami Beach?

Instead of wringing our hands, let’s rub our palms and share in the profits. Let the city impose a relatively simple new tax — officially called a user fee — based on the grandeur of each lofty view. The tax could be duly scaled, like rents, for the height of each unit, and discounted, like theater seats, for undesirable obstructions. Informally, let’s call it the “window tax.”

Roughly speaking, residents would be charged $10 to $15 a month per middle-level window with a clear view of parkland or water, less at lower levels, but maybe $25 above 1,000 feet, with $5 extra for doors that open to terrace landings. Windows that offer what realty agents euphemize as “city views” could be charged half-price. According to my back-of-the-envelope calculations, we could reap at least $1 million a year from each of the giants.

....I should confess that four decades ago, when I was writing editorials for The Times, a group of us briefly suggested a window tax around Central Park to save the neglected, crime-ridden public green; with bankruptcy beckoning, no one noticed, and we let the idea drop.

Now that mid-Manhattan is under vertical assault, a Central Park Vista District, duly defined and refined by experience, could inspire other neighborhoods. In time, Chelsea may like what it learns and form its own Hudson View District. The Miss Liberty Vista District, charging Wall Street’s towers, will not be far behind. The Rockaways in Queens may feel safely remote for the time being, but their boardwalks could shine in an Atlantic View District.

Meanwhile, the city's skyline evolution will continue:


• Video Link

[hunser]

http://www.ctbuh.org/News/GlobalTall...S/Default.aspx

New York City is Seeing a “Penthouse Correction” in Luxury Apartment Prices
New York City, United States – 12 April 2016

Of the 261 penthouse units for sale in Manhattan as of April 1, more than 35 percent of them had price chops since being listed, according to data compiled by listings portal StreetEasy at The Real Deal’s request. The median penthouse price was $6.7 million, and the average discount was nearly 10 percent, the analysis found.

The steepest cut was at Walker Tower, where the 5,995-square-foot (557-square-meter) penthouse is now asking $55 million, down from $70 million, a 21.4-percent reduction.

“What we have in New York City right now is a ‘penthouse correction,’” CNBC’s Robert Frank said during a March television segment. “All these developers chased the very top end of the market because it was so lucrative…. And that’s the area – particularly in Midtown – where we’re going to see dramatic decreases in price.”

The recent cuts shouldn’t be a total surprise, given the growing sense that Manhattan’s ultra-luxury residential market is saturated and experiencing a slowdown amid global economic uncertainty. “There’s too much luxury inventory in a crowded neighborhood,” said Douglas Elliman’s Frances Katzen.

The overall market dynamic has also shifted in buyers’ favor, particularly on the high end. “Sellers have to find themselves a way to become more flexible,” said Brown Harris Stevens’ Kathy Sloane. “It’s a buyers’ market and buyers are saying, ‘Fine, we won’t bid.’”

In addition to StreetEasy’s list, other cuts include the penthouse unit at 11 North Moore, where the price dropped from $40 million to $29.995 million last fall.

Meanwhile, Madison Equities and Property Markets Group just split the $45 million triplex penthouse at 10 Sullivan into two units, one asking $11 million and the other asking $29.5 million. “We thought it was too expensive for the market and where the market was,” PMG’s Kevin Maloney told Bloomberg in February.

In November, CIM Group and Macklowe Properties took the same approach for full-floor units on five floors of 432 Park Avenue.

Not every penthouse is seeing a price reduction. “But there are penthouses that may have been priced way beyond the marketplace,” said Steve Kliegerman, president of Halstead Property Development Marketing

For many of the developers, the profits are sitting in the penthouse and they’ll be patient, Kliegerman added. “Sometimes penthouses don’t reflect the marketplace because the developer has a different motivation,” he said. “Hopefully, they’ve already paid off their loans, so now they’re looking to maximize their profits.”

Elliman’s Raphael De Niro, speaking with Frank on the CNBC segment, likened New York City real estate to an “eight-lane superhighway.”

“There’s a lot of traffic coming and going in both directions and occasionally things slow down,” he said.

[chris08876]

We have a couple of new skyscrapers joining the ranks Hunser.

1) New Data on 23 Park Row which is 691 ft and 54 floors.

13 Building Characteristics

Primary structural system: Masonry Concrete (CIP) Concrete (Precast) Wood
Steel (Structural) Steel (Cold-Formed) Steel (Encased in Concrete)

Proposed
Structural Occupancy Category: II - OTHER THAN I, III OR IV
Seismic Design Category: CATEGORY C
2014/2008 Code Designations?
Occupancy Classification: R-2 - RESIDENTIAL: APARTMENT HOUSES Yes No
Construction Classification: I-B: 2 HOUR PROTECTED - NON-COMBUST Yes No
Multiple Dwelling Classification: HAEA
Building Height (ft.): 691
Building Stories: 54
Dwelling Units: 108

Mixed use building? Yes No

Permit: http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01

==================================

2) 30 East 31st Street is now 479 ft. Use to be 410 feet.

===================================

3) Toll brothers is planning a 30 floor tower at 122 East 23rd Street

Thread: http://skyscraperpage.com/forum/showthread.php?t=222218
====================================

4) 2251-2259 Broadway will be 18 floors. Alchemy who made 35 vx is responsible, so hopefully it will be just as nice.

[hunser]

^ Nice! I'll update the list.

[hunser]

Forgot to mention that 3 Manhattan West (702') has topped out!

[chris08876]

There are new renderings for 131-141 East 47th Street which is 581 FT and 48 floors.

More practical name is 131 East 47th Street. SLCE Architects is designing.

[hunser]

^ Nice! The base looks slick.
I wonder which tower will top out next, I guess it will be 45E22nd; the supertalls are taking their time.

[photoLith]

The only positive I can see coming out of tonights primary election with Clinton winning is that there is a good possibility that many more supertalls will be built for the ultra wealthy in NYC for the next 4-8 years...

[chris08876]

Word of an 80 story tower at 989-993 Sixth Avenue.

Thread for discussion: http://skyscraperpage.com/forum/showthread.php?t=220102



In a nutshell Hunser, this will be a super tall. The site itself is pretty small, so we could be looking at the possibility of something over 1100' if they play their cards right and take advantage of the 375k sq ft.

Consider that 432 Park is 412k sq ft. I believe slightly smaller site, but nevertheless, this could be a big one.

Originally Posted by photoLith

The only positive I can see coming out of tonights primary election with Clinton winning is that there is a good possibility that many more supertalls will be built for the ultra wealthy in NYC for the next 4-8 years...

Regardless of who's president, NYC is a sanctuary city with respect to capital. They will always flock here when the economy turns sour in parts of the world. While Brazil and Russia suffer economically, international clients all come here along with developers. Domestically, its the same thing. An investment here goes a long way. Unless Indian Point explodes or leaks, I don't see NYC suffering for the near future economically. Might slow down or increase. Its highly influenced by world events. Alpha ++ privileges.

If anything, development is greatly affected by policies on the local level. DeBlasio is a putz, and we need someone like Bloomberg. Bloomberg in terms of real estate was a fantastic mayor. His predecessor I feel isn't as aggressive nor visionary.

[C.]

That's an excellent location for a tower and would compliment the surrounds of the ESB.

[hunser]

Great coverage by YIMBY re: 340 Flatbush Ave: http://www.yimbynews.com/2016/04/lan...extension.html

[NYguy]

Guys, lets keep this thread on the supertalls.




http://www.ft.com/cms/s/0/468bb632-0...#axzz46r2XzXkK


In the article above, Vinoly mentions a project in Manhattan "over a mile high", though he doesn't think it will be built.

[chris08876]

This project might be worth the watch. Now... it may or may not be a super tall but there is a suspicion. Could be tall either way. We may be looking at something over 800' and our favorite group, SHoP is designing it. This being in the LES or Lower East Side near the u/c Extell tower.



80 Rutgers Street (Thread): http://skyscraperpage.com/forum/showthread.php?t=222438

[WIGGLEWORTH]

Originally Posted by NYguy

Guys, lets keep this thread on the supertalls.




http://www.ft.com/cms/s/0/468bb632-0...#axzz46r2XzXkK

In the article above, Vinoly mentions a project in Manhattan "over a mile high", though he doesn't think it will be built.

please let him be wrong, PLEASE!

[hunser]

Originally Posted by NYguy

Guys, lets keep this thread on the supertalls.




http://www.ft.com/cms/s/0/468bb632-0...#axzz46r2XzXkK


In the article above, Vinoly mentions a project in Manhattan "over a mile high", though he doesn't think it will be built.

Can someone post the article here? Somehow I can't access the site (have to sign up...).

Originally Posted by chris08876

This project might be worth the watch. Now... it may or may not be a super tall but there is a suspicion. Could be tall either way. We may be looking at something over 800' and our favorite group, SHoP is designing it. This being in the LES or Lower East Side near the u/c Extell tower.



80 Rutgers Street (Thread): http://skyscraperpage.com/forum/showthread.php?t=222438

I like the location. Extell's tower will make on impact on the skyline, and so will this.

--------------------
LIC got its first supertall! --> Court Square City View Tower, 984' (300m).

[chris08876]

247 Cherry Street will be 900 ft at 77 floors. Revealed today.

Thread: http://skyscraperpage.com/forum/showthread.php?t=222438

[WIGGLEWORTH]

^I like seeing a swath of towers surrounding the main bridges.

[hunser]

LOL, this is getting out of control. I mean look at those towers, insanity!

Posted Oct 7, 2011, 10:49 PM

Originally Posted by manchester united

In 5 years NYC skyline will be absolutely incredible !!!!

Only a couple of months to go.