NEW YORK | 350 Park Avenue | 1,600 FT | 62 FLOORS

[DCReid]

Originally Posted by NYguy

I wonder why the city chose to push this tower as a symbol of rebirth, rather than 175 Park, especially considering the formal review won’t begin until Jan or Feb. But I’m guessing a lot has to do with the anchor tenant (Citadel) making that committment. Even if that happened a year ago. Still, when 175 Park announces a tenant, I’m sure the mayor will publicize it too. This is what Hochul should be doing with Affirmation Tower.

Yes, especially since Citadel is in the financial service industry and the mayor want to tell the world that NYC remains the undisputed financial capital and financial companies continue to expand there. I've seen articles mentioning that Dallas is catching up to NYC in financial service jobs and I am sure the mayor is aware of those articles and the 'competition' from TX. For example, there was an article (I think from the WSJ) mentioning that even though JPMC is building the new HQ in NYC, the company has more employees in Texas and a huge number in Dallas and all of these other financial companies were adding new offices and thousands of employees there rather than NY state. And I recall a year or two ago, the NYSE was flirting with relocating the NJ back offices operations to Dallas because of some planned new trading tax. But of course, Dallas is not the financial capital of the world even as it gains a lot of financial service jobs. And NY continues to attract new financial service jobs even as hedge fund billionaires move down to Florida or businesses expand in TX because of lower taxes and cheaper costs.

[ChiND]

Dallas is not remotely anywhere near NY in finance. It gets back office jobs like Charlotte and Salt Lake do.

[chris08876]

Its a big deal. Considering the general slow down in the city RE wise, I think they are highlighting it as an air of optimism. Potentially as a PR moment to gather further opportunities. Not that the city is moving to a crawl construction and project wise but let's just say its not what it use to be. Hopefully that can change!

[NYguy]

^ There is a lot moving forward in development. It’s a years long process to get things moving and then under construction in the city. When that gets slowed, or even stopped as was the case with covid, it takes time to build back up to active levels. Still, compared to most places, the city can’t complain. Especially as jobs lost during covid have been regained.

Originally Posted by DCReid

Yes, especially since Citadel is in the financial service industry and the mayor want to tell the world that NYC remains the undisputed financial capital and financial companies continue to expand there. I've seen articles mentioning that Dallas is catching up to NYC in financial service jobs and I am sure the mayor is aware of those articles and the 'competition' from TX. For example, there was an article (I think from the WSJ) mentioning that even though JPMC is building the new HQ in NYC, the company has more employees in Texas and a huge number in Dallas and all of these other financial companies were adding new offices and thousands of employees there rather than NY state. And I recall a year or two ago, the NYSE was flirting with relocating the NJ back offices operations to Dallas because of some planned new trading tax. But of course, Dallas is not the financial capital of the world even as it gains a lot of financial service jobs. And NY continues to attract new financial service jobs even as hedge fund billionaires move down to Florida or businesses expand in TX because of lower taxes and cheaper costs.

That’s always the case. The city itself will always remain the center of finances, even if there are other employees elsewhere. Even Citadel, which moved it’s main office to Miami, recognizes that. Which is why they are building this big, beautiful tower. But I don’t want to get into who or what is going where, beyond the city.

Park Avenue itself has been in battle not just with Hudson Yards, but longtime rival 6th Avenue. They’ve all been doing well, with a little back and forth between Park and 6th. But Park Avenue remains a top concentration. When these large towers that are coming start piercing the skyline, that will become even more obvious.





New York City mayor’s office

[Crawford]

I can't wait to see the plans for the Roosevelt Hotel site. This corridor is going to be the most epic office corridor on earth.

[mrnyc]

the tower design is fine, if not spectactular. it is more modern and sleeker than the previous designs and it will complement chase well.

there look to be two outstanding features, first of all the curved glass. i am getting manhattan west vibes and that would be a very good thing as the glass there is top shelf.

second and best of all for most people is the major improvement and expansion of the base plaza. the base on the first version of this tower was crap and the hanging boxes iteration wasn’t much better. it looks clean and terrific at the streetlevel base and so its a win for pedestrians.

[NYguy]

One thing I overlooked in the mayor’s press release…

After filing an application with the New York City Department of City Planning, Vornado Realty Trust, Kenneth Griffin, and Rudin are advancing a new tower that will deliver 1.8 million square feet of commercial office space, a new public concourse, and more than $35.8 million for the city’s East Midtown Public Realm Improvement Fund.

The pre-certification process (the long process before we get to scoping) has begun. So, in a way, approvals have begun.

[NYguy]

Originally Posted by Crawford

I can't wait to see the plans for the Roosevelt Hotel site. This corridor is going to be the most epic office corridor on earth.

The block directly across from the Waldorf, containing two mid office buildings, should be redeveloped down the line.

https://www.skyscrapercenter.com/bui...k-avenue/15326

Originally Posted by mrnyc

the tower design is fine, if not spectactular. it is more modern and sleeker than the previous designs and it will complement chase well.

there look to be two outstanding features, first of all the curved glass. i am getting manhattan west vibes and that would be a very good thing as the glass there is top shelf.

second and best of all for most people is the major improvement and expansion of the base plaza. the base on the first version of this tower was crap and the hanging boxes iteration wasn’t much better. it looks clean and terrific at the streetlevel base and so its a win for pedestrians.

Also, you don’t usually see bay windows on office towers in Manhattan.

[ChiND]

Originally Posted by Crawford

I can't wait to see the plans for the Roosevelt Hotel site. This corridor is going to be the most epic office corridor on earth.

I agree. Also, hopefully, the Roosevelt’s office component may be small enough (e.g., 500k-700k sf) to build on spec., especially if a Middle Eastern sovereign wealth fund partners with the Pakistanis and whatever developer is chosen.

[O-tacular]

I like this version much more than the last boxes with terraces design. We'll see if it ends up going ahead in this form or changes again. The base is a bit fat for my liking but the colonnade looks good. Foster seems to be on a real kick lately with these buildings composed of slices / layers. It's like a half version of 270 Park Avenue.

[NYguy]

Originally Posted by O-tacular

I like this version much more than the last boxes with terraces design. We'll see if it ends up going ahead in this form or changes again. The base is a bit fat for my liking but the colonnade looks good. Foster seems to be on a real kick lately with these buildings composed of slices / layers. It's like a half version of 270 Park Avenue.

I’m sure this one will be refined in greater detail further down the line, but is pretty much the basic form. When you look at it, all 3 concepts are similar in concept.

[NYguy]

Design is pretty much in line with this earlier 270 Park graphic as far as setbacks go....

[DZH22]

I like that all the setbacks are on one side and it has that full vertical wall on the other. It doesn't look 1600' though in context with the rest of the towers.

[ChiND]

While every city in America can’t build their traditional ten-story office tower upon a fifteen-story, exposed concrete garage, the Financial Capital of the World continues to build stunning supertowers!

All hail Ken Griffen and Jamie D. Next up to the plate: Scott Rechler!

[NYguy]

Originally Posted by DZH22

I like that all the setbacks are on one side and it has that full vertical wall on the other. It doesn't look 1600' though in context with the rest of the towers.

Oh, I wouldn't judge height based on that rendering. We don't know how old that rendering is, or if it even reflects the final design. The original renderings weren't accurate either as far as that goes. We may be hearing more about this tower sooner, since they expect to begin the approvals process early next year.

I do wonder though if this tower will taper in a similar fashion to 270 Park Avenue. That would give it an even better profile viewed directly from the east or west.