NEW YORK | The Spiral (509 W. 34th) | 1,041 FT | 66 FLOORS

[NYguy]

Originally Posted by Submariner

Any word on when foundation work might start?

I would guess not long after demo is completed.



https://www.thespiralny.com/home/
http://www.tishmanspeyer.com/properties/the-spiral#

[chris08876]

Credit: JC_Heights

[Submariner]

Oh what a nice site!

[ILNY]

509 West 34th Street (The Spiral) by NyConstructionPhoto, on Flickr



509 West 34th Street (The Spiral) by NyConstructionPhoto, on Flickr

[chris08876]

Credit: JC_Heights

[Submariner]

Those two behemoths will rise in concert. Another amazing site on the west side.

[NYguy]

https://therealdeal.com/2017/12/14/t...piral-sources/

Tishman Speyer hunting for massive construction loan at the Spiral: sources
$1.5B mortgage would finance Hudson Yards office project

By Konrad Putzier
December 14, 2017

Tishman Speyer is in the market for a $1.5 billion construction loan to finance its Spiral office development in the Hudson Yards neighborhood, sources told The Real Deal.

The mortgage would be one of the biggest construction loans of the market cycle, on a level with SL Green’s $1.5 billion loan to fund One Vanderbilt and the $1.5 billion loan to fund Related Companies and partners’ 50 Hudson Yards.

Tishman Speyer has spoken to banks about the financing, but no deal appears imminent. The developer, who declined to comment for this story, hopes to close on a mortgage in the first quarter of 2018, one source said.

The developer plans to build a 65-story, 1,005-foot-tall office tower spanning more than 2.8 million square feet at 509 West 34th Street.

The Bjarke Ingels-designed development is expected to cost $3.2 billion.

Pfizer agreed in August to take 800,000 square feet and become the building’s anchor tenant. The pharmaceutical giant plans to move in by late 2022.

[Prezrezc]

Originally Posted by Submariner

Those two behemoths will rise in concert. Another amazing site on the west side.

I assume you're refering to 50 HY, since 3 HY took that height chop.

[NYguy]

Originally Posted by Prezrezc

I assume you're refering to 50 HY, since 3 HY took that height chop.

3 HY is even more of a behemoth now. The size has been increased.

[Prezrezc]

Oh yeah...trading floorage. :

[NYguy]

50 Hudson yards leaped ahead of this one in height, slightly. But now it looks like they will be equal in height...

[Yesh222]

This building had so much potential to stand out above the skyline. Instead, we're getting another monster tower around 1,000 feet, which will just get lost in the sea of massive 1,000-footers in/around Hudson Yards.

[JMKeynes]

Originally Posted by Yesh222

This building had so much potential to stand out above the skyline. Instead, we're getting another monster tower around 1,000 feet, which will just get lost in the sea of massive 1,000-footers in/around Hudson Yards.

It's a beautiful building though. Also, only in New York can we complain about the "problem" of having a sea of 1,000' tall towers!

[Prezrezc]

(Mods please delete this TYVM)

[Prezrezc]

Originally Posted by Yesh222

Instead...

Least they didn't do what Moinian did (admittedly by necessity) to 3HY, tho.......

...We're getting another monster tower around 1,000 feet, which will just get lost in the sea of massive 1,000-footers in/around Hudson Yards.

Fair gripe; but I would suggest this:

Isn't that somewhat like complaining about the half-dollar coin-sized chunk of pecan brittle in a ten gallon barrel of homemade crackerjack????

That this biggie boom is happening at all is cause for the sort of rejoicing that would make a dervish's spinaroonie look like the hokey-pokey.

[NYguy]

Originally Posted by Yesh222

This building had so much potential to stand out above the skyline. Instead, we're getting another monster tower around 1,000 feet, which will just get lost in the sea of massive 1,000-footers in/around Hudson Yards.

Yeah, it could have stood out more, as could have the others. But what's being built here is exactly as the city envisioned it - large commercial towers with the large floorplates that aren't feasible elsewhere in the city due to lack of space. It's a factor in the draw of the Yards, as you need a "critical mass" of companies making the jump over to legitimize the area as one of the new business districts. Anything much higher than what is being built over there now would need a residential component, something that's not necessarily a priority on these commercial sites, nor should it be. The developer's are looking to reel in the "big fish" to get these buildings out of the ground.

It just so happens that, by default, most of these towers are around the same size. That leads to them being of similar height, unfortunately.

[chris08876]

I agree with the big fish in terms of the tenants. It really comes down to the power tenants that make a district (both in economic output and also perception). Smaller ones within an area, and its more of a boutique. Whereas HY is where the big players come, and with that, a springboard to further development as the neighborhood becomes ever so powerful as a CBD node. One of many for the city.

Relative to the total sq-footage of Manhattan, HY is tiny. Its like the solar system in a galaxy of sq-footage, but its a powerful one at that. Full of quality tenants.

I envision Manhattan on the west Side, near the yards, like a young East Midtown being born.

[ILNY]

Demo is completed and construction equipment was removed from the site. Now we have to wait for excavation to start.
Also, this photo shows how big the lot it, this is going to be big ass tower.


509 West 34th Street (The Spiral) by NyConstructionPhoto, on Flickr

[NYguy]

I've been saying people won't realize how big 50 and the Spiral are going to be until construction begins.

A look at who's going where so far...



https://therealdeal.com/issues_artic...-yards-reboot/

[NYguy]

As shown in the wind test for 50 Hudson Yards....massive buildings.