Quote:
Originally Posted by detroitmetro101
for so long, there seemed to be an unofficial, or perhaps official, height limit for midtown towers; with 432, hopefully that convention is shattered.
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Unofficial. There are no height limits in Midtown, what limits the height is the FAR. The trick is to assemble enough development rights to build a tower large enough to reach great heights. In the case of the residential towers, it comes at a time when people are willing to pay great amounts for those high apartments, justifying the expense of assembling the expensive land, air rights, and construction of these supertall towers.
As far as the office towers go, again, no specific height limits. The vast amount of the NY office supply is dated, what you are seeing now is the beginning of a "turnover" of supply. As a global capital, and home to so many companies, New York needs a steady supply of new office space, the best to offer. That really hasn't been happening in the last 2 decades at the rate it should have. Adding to that, office towers are generally taller now than they were decades ago, a 30-story office tower built back then would be shorter than a 30-story tower today.
So when you add it all up, to truly stand out, a tower needs to be
at least a supertall to just stand above the pack. It helps to be closer to the waterfront.
At half it's height, 432 Park wouldn't get the same prices for those upper floors.
Quote:
Originally Posted by JustSomeGuyWho
I suppose it depends on how you define major US cities. If you are using CitySpire as an example (from all the other buildings in that picture), there are only 12 cities outside of New York with taller buildings:
Chicago
Cleveland
Atlanta
Dallas
Houston
Indianapolis
Pittsburgh
Charlotte
Oklahoma City
San Francisco
Los Angeles
Seattle
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I can remember when Cityspire was the tallest residential in New York - wasn't really that long ago. But with the exception of Chicago, it would still stand out in those other cities.
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