In the foreground next to 4 WTC. The tower reflects off 4 WTC's glass, which is mirror like. Literally a mirror, and can sometimes looks invisible from a distance if the lighting conditions permit.
125 Greenwich supertall closes on $473M debt package
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After marathon negotiations that began more than two years ago, the developers of the supertall condominium at 125 Greenwich Street have closed on a $473 million financing package with four Asian banks, The Real Deal has learned. The deal answers questions about the future of what is perhaps Downtown’s most visible residential project.
The financing package consists of a $395 million construction loan with Singapore-based United Overseas Bank, Bank of China, China Merchant Bank and Wing Lung Bank. China Cinda provided a $78 million junior mortgage.
“As sales progress, there’s been a wide range of interest especially as the building continues to rise,” Davide Bizzi, whose firm Bizzi+Partners is the lead developer on the project, said in a statement. “125 Greenwich Street is the new model for Downtown New York living and the brokerage and buying communities have taken notice.”
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Sales launched at the 275-unit building last September, with condos priced between $1.3 million and $6 million. The tower’s total projected sellout is $875 million.
Rafael Viñoly-Designed 125 Greenwich Street Over Two-Thirds Complete
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Downtown’s residential boom continues apace with the construction of 125 Greenwich Street, which has reached two-thirds of the way to its 912-foot-tall pinnacle on a corner overlooking the World Trade Center memorial. The tower will rise above most of its neighbors in the Financial District, but since it is right across from 1 World Trade Center, it will not make a sizable impact on the skyline. Architect Rafael Viñoly is also responsible for the Midtown supertall 432 Park Avenue.
The construction height has roughly doubled since YIMBY’s last update. At this pace, we can speculate that the tower will be topped out by February or March of next year, with the façade closing up soon after. The curtain wall façade is notable for its curved edges and the integration of bare concrete material along the northern and southern sides.
The 88-story structure will create 273 condominiums, averaging 1,300 square feet apiece, as well as two stories of retail. Interior design is by March & White, a British design firm. While views will initially include an expansive panorama of the Hudson River, the eventual construction of Five World Trade Center will likely curtail those vistas substantially.
Was in the city yesterday with a friend and my brother and was very impressed by the quality of the glass as well as the curvature. Still not sure that concrete side is going to play well at all but we all seem to like it overall. One building in the area we both equally loathed was the Verizon Building... the more recently installed glass made it look kind of worse in our eyes, not even a really convincing attempt to "put lipstick on a pig".
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
I sometimes wonder what the city's "forefathers" would think if they could come up out of the old cemeteries and look around...
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__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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