NEW YORK | 1710 Broadway | 633 FT | 54 FLOORS

[Hypothalamus]

You don't enjoy watching Meir and Ben assemble the site? Play some Solitaire.

[chris08876]

Originally Posted by Spocket

How does this stuff make it into the proposals section ? This isn't proposed. It's barely even a vision.

Nordstrom started out as a vision, and now its becoming a reality. This is very much a real proposal and may become taller than the current renderings indicate.

[hunser]

Originally Posted by chris08876

Nordstrom started out as a vision, and now its becoming a reality. This is very much a real proposal and may become taller than the current renderings indicate.

And Nordstrom ain't the only one. Remeber 432 PA, 3 years ago it was more or less speculation what (or if anything at all) would go up on the Drake site. Now the tower is topped out.

[Hudson11]

Originally Posted by Spocket

How does this stuff make it into the proposals section ? This isn't proposed. It's barely even a vision.

depends, did you read the post above yours???

[sparkling]

BY DANIEL GEIGER
JANUARY 12, 2015

C&K Properties, meanwhile, the real estate investment outfit operated by Meir Cohen and Ben Korman, has put 1710 Broadway on the market. The site, on the corner of West 54th Street, can accommodate a tower as high as 1,000 feet. Like 520 Fifth Ave., whatever is eventually built will likely be a blend among retail, hotel and residential. That site is likely to sell for $1,000 or more per foot, or $380 million-plus, given that it allows about 380,000 square feet of development. The property is currently home to a six-story building built 97 years ago. Its tenants include Bad Boy Entertainment, the record label founded by former rapper Sean Combs.

Brokerage company Jones Lang LaSalle is marketing the building. Mr. Cohen and Mr. Korman recently secured additional air rights to bring the site up to its current size potential.

Down the road, the property could become the site for a test run of a new business JLL plans to launch here. The publicly traded company, the world’s second biggest real estate services company behind only CBRE Group, plans to break into residential brokerage by bringing buyers from the Far East to New York City condo projects. JLL already provides that service to property developers in London.

Ron Cohen, a broker at JLL who is leading the sales effort for 1710 Broadway, said the service would market properties to Asian buyers via JLL’s network of offices in that area of the world as well as advise New York City developers on what types of projects to build in order to cater to those Asian consumers. Mr. Cohen said that he is advising whoever buys 1710 Broadway to raise a spire with a collection of smaller apartments, including studios and one and two bedrooms.

"There are a lot of buyers in Asia who are looking to spend $4 million to $5 million on an apartment," Mr. Cohen said. "In recent years, developers have focused on building bigger apartments—three bedrooms and more—that cost well in excess of that. There’s a hole in the market right now and a strong demand for these smaller apartments."

http://www.crainsnewyork.com/article...es-draws-crowd

[chris08876]

Good news. Hopefully Q2 of 2015 can reveal some possible supertalls.

[NYguy]

C&K Properties, meanwhile, the real estate investment outfit operated by Meir Cohen and Ben Korman, has put 1710 Broadway on the market. The site, on the corner of West 54th Street, can accommodate a tower as high as 1,000 feet.

Like 520 Fifth Ave., whatever is eventually built will likely be a blend among retail, hotel and residential. That site is likely to sell for $1,000 or more per foot, or $380 million-plus, given that it allows about 380,000 square feet of development. The property is currently home to a six-story building built 97 years ago. Its tenants include Bad Boy Entertainment, the record label founded by former rapper Sean Combs.

Ron Cohen, a broker at JLL who is leading the sales effort for 1710 Broadway, said the service would market properties to Asian buyers via JLL’s network of offices in that area of the world as well as advise New York City developers on what types of projects to build in order to cater to those Asian consumers.

Mr. Cohen said that he is advising whoever buys 1710 Broadway to raise a spire with a collection of smaller apartments, including studios and one and two bedrooms.

Go for it, why not...

[chris08876]

The owners of the current structures are compelled to sell.

Article on it: http://www.crainsnewyork.com/article...TATE/150119856

[Vertical_Gotham]

Good news, this site has found multiple buyers and is weeks from closing the deal. For ~$300m, its gotta be a major developer.



Owner of 1710 Broadway has stopped making mortgage payments -
A broker representing the owner of the building said he is negotiating with four buyers for the property which is being marketed as a development site where a condo tower can rise.
http://www.crainsnewyork.com/article...state-20150612

The owner of an office building, north of Times Square, which is being marketed as a high-priced development site that can accommodate a 1,000-foot-tall condo tower, has defaulted on its mortgage in recent months, according to a data-tracking firm.

Trepp, a company that monitors securitized mortgages, reported that C&K Properties stopped paying the $32.5 million mortgage on 1710 Broadway in April. Meanwhile, C&K Properties, a firm founded by real estate investors Meir Cohen and Ben Korman, owns the property and has spent the past several months trying to sell it to a buyer who would tear it down and build a tower with 380,000 square feet of residential and retail space.

Messrs. Cohen and Korman could not be reached for comment.

According to Trepp, the six-story office building that currently stands on the site, whose biggest tenant is the entertainment company owned by rapper and music mogul Sean Combs, doesn’t generate enough cash flow to pay its current debt.

“For every dollar the property owes, it generates about 90 cents in income,” said Sean Barrie, a research analyst at Trepp.

However, Ron Cohen, a broker at Jone Lang LaSalle who was hired by C&K Properties to market the building, called the default a "technicality" and that the owner would soon sell the diminutive property for a massive profit.

"We’re looking at a sale for nearly $300 million," said Mr. Cohen, who has been shopping the property to potential buyers since the beginning of the year. He claims 1710 Broadway will be sold in the next few weeks and Messrs. Cohen and Korman will pay off its existing mortgage, which is securitized, in full.

"We have four contracts out," Mr. Cohen said. "We’re negotiating with four different buyers."

The building is one of several development sites in the city being offered for about $1,000 per square foot—a record price for land in the city that would force developers who buy at that figure to net millions of dollars in the sale of each apartment they build.

[JR Ewing]

Only in NY can that tiny plot of land cost $300m! My back yard is bigger than that!!

[chris08876]

As much as I like the red building near it, I'd be nice if they could snap it up to build a taller tower. The conceptual rendering in the first post is nice, and something in the likes of 1200-1300 feet would be epic.

[Vertical_Gotham]

Good news!!

Gary Barnett’s Extell takes stake in 1710 Broadway Developer to partner with C&K; site could give rise to 1,000-foot tower
http://therealdeal.com/blog/2015/08/....zZwHa5SG.dpuf

Gary Barnett’s Extell Development is coming in as a partner on C&K Properties’ Midtown development site at 1710 Broadway, The Real Deal has learned.

The site offers about 370,000 buildable square feet in one of the busiest areas of Manhattan and could accommodate a tower as high as 1,000 feet.

A JLL team led by Yoron Cohen was marketing the property, which is located on the corner of West 54th Street. It’s unclear how much Barnett is paying for his stake, though one source familiar with the deal said that it was between $650 and $700 per square foot. When the site hit the market in January, Crain’s reported that it could go for $1,000 per square foot.

Representatives for C&K declined to comment, as did representatives for Extell and JLL.

A six-story, 83,000-square-foot building currently stands on the site and houses tenants including Sean Combs’ Bad Boy Entertainment. C&K picked up the property in 2003 for $23 million, city records show, and proceeded to buy up air rights in several transactions to give the site a total of about 370,000 buildable square feet.

Extell is one of the city’s most active developers, with current projects including the Nordstrom Tower at 217 West 57th Street and a site at City Point in Downtown Brooklyn.

[Crawford]

If Gary Barnett is the developer, then we know we're getting something good and tall. Bring it on!

[Vertical_Gotham]

Bumpety bump.

[JR Ewing]

This is the Age of Ramses, lads! Only in NY!!

[chris08876]

Stern and Barnett. The supertall kings.

[JR Ewing]

Don't forget Witkoff. I hope that he buys the sites adjacent to the Park Lane and exceeds 1,500'!

[NYguy]

CB5 makes it's stand against transfer of development rights. I'm sure the city will approve though.


http://www.cb5.org/cb5/resolutions/n...#november-2015







http://nypost.com/2015/11/02/70-pine...w-food-market/


By Steve Cuozzo
November 2, 2015

We’ll say it up front: We wish we could tell you more about what’s going on at 1710 Broadway, a vacant six-story, 1918-vintage structure at West 54th Street.

But we can report more than was previously known: Its owners plan to buy air rights from the Tick family’s Helen Hayes Theatre on West 44th Street to support development of a 61-story residential-retail tower.

The things we learn by reading notices on lampposts!

The sign across the street from 1710 Broadway informed us that, on Wednesday, Manhattan Community Board 5’s land use, housing and zoning committee will hold a public review.

The proposal would give 1710 Broadway the theater’s development rights “in connection with a proposed 61-story residential and retail (and/or possibly other conforming uses) building” at the site.

The owner of record for 1710 Broadway is C&K Properties — founded in 1999 by Meir Cohen and Ben Korman — which owns or controls around 5 million square feet of mostly commercial space in and around the city.

But it was reported last summer that C&K was delinquent on its mortgage at 1710 Broadway — although it seemed to be a technicality.

Then came word that Gary Barnett’s Extell was coming in as a partner. Next, SL Green got involved with a $45 million mortgage loan to C&K at the property. (A source said that it was strictly a debt investment and SL Green had no role in any redevelopment.)

For good measure, the Real Deal reported in June that JLL superbroker Ron Cohen had been tapped to sell the building for C&K; Cohen said at the time the property could fetch up to $300 million. But no transaction involving Extell or any other company has taken place yet.

The property has long been wrapped in riddles. The square footage of 1710 Broadway has been cited as anywhere from 51,000 to 81,000 square feet. Sean Combs’ company previously occupied all of the building’s office and retail space, but moved out earlier this year.

New York YIMBY reported that 1710 Broadway would be torn down for a cloud-busting tower more than 1,000 feet tall designed by architects Goldstein Hill & West, which sounds like a stretch for a 61-story structure to achieve. Sources said that’s the plan for now, but it could change when and if C&K forms a joint-venture partnership with another company or sells the building outright.

It was also earlier reported that C&K was buying air rights from three nearby sites — the Dream Hotel, 204 W. 55th St. and 857 Seventh Ave.

But the Helen Hayes Theatre 10 blocks south was never mentioned. Our sources say that chunk of air rights will be the final piece of the puzzle needed to put up a tower comprising nearly 380,000 square feet.

C&K Managing Director Kevin Collins did not return a call. Extell’s rep declined to comment. JLL’s Cohen and Eric Stern, chairman of CB5’s land use committee, could not be reached.

[dendenden]

Originally Posted by NYguy

CB5 makes it's stand against transfer of development rights. I'm sure the city will approve though.


http://www.cb5.org/cb5/resolutions/n...#november-2015







http://nypost.com/2015/11/02/70-pine...w-food-market/


By Steve Cuozzo
November 2, 2015

These NIMBYS think that the shadows on Central Park argument is a panacea.

[Crawford]

Originally Posted by dendenden

These NIMBYS think that the shadows on Central Park argument is a panacea.

This building would be five blocks south of Central Park's southern entrance, and there would be even taller buildings between the park and this tower. So the shadow claim is an outright fabrication.