NEW YORK | 435 West 33rd St | FT | FLOORS

[antinimby]

^ It gets used by a lot of cars. The photos were taken at the time of day when traffic is light.

I've sat in a few of those traffic jams in and around the Lincoln Tunnel so I know.

[Perklol]

Originally Posted by antinimby

^ It gets used by a lot of cars. The photos were taken at the time of day when traffic is light.

I've sat in a few of those traffic jams in and around the Lincoln Tunnel so I know.

Ah my bad.

[NYguy]

Originally Posted by Eveningsong

See? Very few drivers use it and its visually unappealing all around. Who thought it was a good idea to put 5' concrete walls on the sidewalks?

Originally Posted by antinimby

^ It gets used by a lot of cars. The photos were taken at the time of day when traffic is light.

That should go without saying. All of those entrances get backed up.

[sparkling]

The Dermot Company scrapped plans to construct a 500,000-square-foot residential tower at Hudson Yards after signing a contract in June to pay up to $175 million for the site. The Port Authority of New York & New Jersey selected Dermot to develop the 25,000-square-foot site at West 33rd Street and Dyer Avenue in a February auction. Dermot bid $115 million at the time, as The Real Deal reported. Extra development rights cost about $60 million. The tower would have had to cantilever over part of Dyer Avenue, making the project even more costly than expected, sources told Crain’s. Dermot was among 11 developers to respond to a Request for Proposal issued by the Port Authority for purchase and development, but it is unknown if the agency will move forward with another one. The Port Authority has owned the land since 1952. [Crain's] — Mark Maurer - See more at: http://therealdeal.com/blog/2014/10/....uw8xHYOD.dpuf

[Crawford]

Interesting.

So the Port Authority have to rebid the site to one of the other 10 competitors for the site, or does the #2 competitor from the previous offering get the site?

And does anyone know the other developers? Dermot isn't a huge developer, so it was a bit surprising they outbid the other developers.

[Perklol]

I did not know that the lot is used to park buses.

[scalziand]

They park buses everywhere they can on the west side, because the PA bus terminal is so over capacity.

[NYguy]

Originally Posted by Crawford

Interesting.

So the Port Authority have to rebid the site to one of the other 10 competitors for the site, or does the #2 competitor from the previous offering get the site?

And does anyone know the other developers? Dermot isn't a huge developer, so it was a bit surprising they outbid the other developers.

I"m not sure, but I think that was the case with the bus terminal.

Anyway, it seems the developers bit off more than they could chew, and now the sharks will be circling the waters. A more capable developer will get the site. It would be nice as a tie in to Brookfield's Manhattan West. I don't want anymore Related projects on the west side, we need more diversity. There are numerous developers, both inside the city and out, who could take over and get something working. We'll just have to wait and see.

[NYguy]

A look at the new RFP...

https://www.google.com/url?sa=t&rct=...KdcB5MBgAPx1Ew




http://commercialobserver.com/2014/1...on-the-market/

Port Authority Puts Hudson Yards Parcels Back on Market






BY TOBIAS SALINGER
12/02/14

The Port Authority of New York & New Jersey is soliciting new bids for a pair of parcels on the Far West Side after an eye-popping deal to purchase the land and development rights fell through earlier this fall.

The current bus parking lot at 431 West 33rd Street and two small strips of land straddling Dyer Avenue at 448 West 34th Street total 37,695 square feet, counting the space over the roadway that connects to Lincoln Tunnel. But any interested parties could build up to 490,037 square feet on the property, according to a request for proposals the agency released on Nov. 21.

The Dermot Co. previously won a round of bidding on the sites with an offer north of $100 million plus a 2-year option to purchase development rights on an adjoining lot for over $50 million, figures from an agency release in July say. But that deal broke down by late October, Crain’s New York Business reported.

The site poses complications for any prospective developers, including a non-refundable $10 million deposit for the winning company and a requirement that the plans for the site include a landscaped through-block public passageway between West 33rd and 34th Streets. Any new buildings stretching over Dyer Avenue would need to extend at least 17 feet over the busy corridor, the request for proposals says.

“A threshold issue is whether to construct a portion of the building over Dyer Avenue using a cantilever, platform or other structure or to avoid construction over Dyer Avenue by locating all development on the vacant land directly east of Dyer Avenue,” the document notes.

Proposals are due to the bistate agency by Dec. 16.

[NYguy]

Proposals are due to the bistate agency by Dec. 16.

Let us hope they pick someone who is qualified to and will move forward with development.


December 29, 2014

[sparkling]

The Port Authority Files Plans For Apartments

REBECCA BAIRD-REMBA
SEPTEMBER 20, 2015

After the Port Authority tried and failed to find a developer to build over the Lincoln Tunnel approach on West 33rd Street, they’ve decided to develop part of the site themselves. The agency has filed plans to erect a nine-story residential building on a parking lot at 431 West 33rd Street, overlooking a depressed stretch of roadway that runs between 10th and 11th Avenues.

The 90-foot-tall building would hold just 24 apartments, divided across 40,017 square feet of residential space. Units would average 1,667 square feet, meaning that condos are almost certainly in the works.

Continue Reading

[Crawford]

Two different sites. The PA filings are for a different lot, not for the air rights above the tunnel entrances.

[chris08876]

Extell sues Port Authority to gain insight into bidding process

Extell Development is suing the Port Authority of New York and New Jersey in order to get access to documents it requested last year through the board’s Freedom of Information Policy.

The documents relate to Extell’s bid to acquire and develop 431 West 33rd Street, a development site the agency bought in 2008. The agency initially brought Dermot Company on board to develop the site, but began seeking other contenders after Dermot backed out.

Extell said in a lawsuit filed Wednesday in New York State Supreme Court that it suspected impropriety in the bidding process.

“Extell has reason to believe that the bidding process was not conducted properly,” the developer said in court papers, adding that the agency “may have improperly revealed Extell’s innovative scheme to develop the property to other third-party bidders despite its obligation to maintain such property information as confidential.”

Extell added that despite making the “highest valued bid for the lease,” the Port Authority chose to lease the site to another entity.
According to the suit, the Port Authority never responded to Extell’s request or delivered any of the requested material.

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http://therealdeal.com/2016/06/08/ex...dding-process/