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-   -   NEW YORK | 270 Park Ave | 1,388 FT | 58 FLOORS (https://skyscraperpage.com/forum/showthread.php?t=232215)

JMKeynes Feb 21, 2018 3:25 PM

NEW YORK | 270 Park Ave | 1,388 FT | 58 FLOORS
 
APRIL 14, 2022 : EDIT - RENDERINGS REVEALED


https://a4.pbase.com/o12/06/102706/1...k.IMG_6262.JPG



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* * * * * * *** * *


Only in New York!

This is why it's called "The City"!

https://therealdeal.com/2018/02/21/j...massive-tower/

tdawg Feb 21, 2018 3:27 PM

Jinx! Can't wait for renderings.

vandelay Feb 21, 2018 3:32 PM

Let's hope it's something that suits that august address.

DrNest Feb 21, 2018 3:34 PM

That's exciting news. I look forward to seeing some renderings for this project when they're available.

Steely Dan Feb 21, 2018 3:41 PM

it seems a little kooky that they would tear down a 52 story tower only to rebuild a 70 story tower on the site.

that's an awful lot of money and trouble for 18 additional floors.

tdawg Feb 21, 2018 3:44 PM

Thanks mods for fixing my post. It's not really odd when you consider that the new tower will be 500 feet taller and offer an additional 1 million square feet (2.5 million total).

Steely Dan Feb 21, 2018 3:49 PM

also, at 707' tall, i believe the current chase HQ tower would be the tallest skyscraper ever voluntarily demolished in the history of our world.


(obviously the WTC twins were much taller, but that was hardly a voluntary demolition)

Kumdogmillionaire Feb 21, 2018 3:49 PM

Quote:

Originally Posted by Steely Dan (Post 8093296)
it seem a little kooky that they would tear down a 52 story tower only to rebuild a 70 story tower on the site.

that's an awful lot of money and trouble for 18 additional floors.

Yeah, for a financial institution this is comical. Just adds more fuel to the fire of hatred towards bankers and billionaires... This is frivolous.... whatevs, should be fun to watch

chris08876 Feb 21, 2018 3:50 PM

This rezoning is going to skyrocket the amount of potential super talls.

Although you'd think they would just stack it atop of the existing tower.

Busy Bee Feb 21, 2018 4:03 PM

This is fantastic but it has to be the first case of such a solid quality albeit banal modernist box of this height to be taken down anywhere ever. Crazy

jackster99 Feb 21, 2018 4:05 PM

Quote:

Originally Posted by chris08876 (Post 8093314)
This rezoning is going to skyrocket the amount of potential super talls.

Although you'd think they would just stack it atop of the existing tower.

^I think its entirely possible that is what they are doing, and the author of the article just misunderstood/his source was misinformed.

If I recall correctly, when the news first broke about 425 Park Avenue, and even in later articles, that was also referred to as a demolition.

NOPA Feb 21, 2018 4:10 PM

This is definitely not the first development under the Midtown Rast rexoning I expected!

The current 1961 Skidmore, Owings & Merrill tower is handsome enough as is. If the new tower were to be 1,500+ I wouldn’t be surprised, however to tear down a 700 fitter to add just 18 floors is kind of crazy?

Let’s hope the design is A+

chris08876 Feb 21, 2018 4:12 PM

Yeah I'm hoping its just an error or misinterpretation because just from a cost perspective it would skyrocket the costs. The building itself does its function well. If anything, a conversion to more suitable Class-A space, stacking atop, and renovation/fixing up legacy components would seem suitable. Maybe even a recladd. It could be done.

Unless its cheaper to just demo it and start fresh? IDK what the cost would be for a conversion, but damn, it'll really add to the hard costs starting fresh.

Plus, I wonder what would happen to those existing employees. A renovation/addition seems more likely, because where would they relocate 6000 employees anyways.

Busy Bee Feb 21, 2018 4:15 PM

This is gonna totally short dick Bear Stearns next door. Strategy?:haha:

TonyNYC Feb 21, 2018 4:18 PM

Although you'd think they would just stack it atop of the existing tower.
^I think its entirely possible that is what they are doing, and the author of the article just misunderstood/his source was misinformed.

If I recall correctly, when the news first broke about 425 Park Avenue, and even in later articles, that was also referred to as a demolition.



It could be but it's probably easier to have a complete tear down and go with something entirely new then to do what they did at 425 Park. At 425 Park , they tore it down to it's bones and started from there.. limiting it's options going forward in design and build.

The Singer building(612FT) held the title of tallest buildings ever voluntarily torn down.. 277 Park will be come the title holder very soon!

Within a decade or so.. Midtown East is gonna rival any business district in the world with supertalls! Gonna be fun to watch it transform starting with 1 Vanderbilt and 277 Park. BTW- 277 Park at 1200FT not enough for me.. hoping it reaches closer to 1400-1500Ft!!

yankeesfan1000 Feb 21, 2018 4:19 PM

I would not expect this to be a full tear down. The time frame given is five years, assuming that's correct, this will be some sort of 425 Park Ave situation, where it's a partial demo.

Sort of sad, this is one of the best international style buildings in the city. Somewhat related, the building diagonally across the street is for sale and is from a similar era I expect that to get redveloped soon as well.

Zerton Feb 21, 2018 4:55 PM

I like the current black modernist building. Hopefully they are adding to the existing building rather than tearing it all down.

ardecila Feb 21, 2018 4:58 PM

Worth noting that the building includes a ten-story midrise annex along Madison Avenue that could be torn down, and the existing tower is a pretty flexible Modernist box.

Lots of possibilities to add onto the existing building or reconfigure it (not just stacking more floors on top) to add a ton of SF.

HomeInMyShoes Feb 21, 2018 5:05 PM

700 foot demolition is not an everyday event. Super cool from a logistics and planning
perspective.

JMKeynes Feb 21, 2018 5:15 PM

Another day, another super tall for the

Greatest City in the World!!!!

yankeesfan1000 Feb 21, 2018 5:17 PM

Quote:

Originally Posted by ardecila (Post 8093463)
Worth noting that the building includes a ten-story midrise annex along Madison Avenue that could be torn down, and the existing tower is a pretty flexible Modernist box.

Lots of possibilities to add onto the existing building or reconfigure it (not just stacking more floors on top) to add a ton of SF.

I bet they do this. Demo the Madison Ave annex, add a huge amount of s/f there, and then do some sort of 425 Park Ave reconfiguration/renovation of the Park Ave side.

It's the only way the five year time table makes sense.

NYguy Feb 21, 2018 5:47 PM

You can't even take a break around here without another supertall tower being planned.

Quote:

"This is our plan for East Midtown in action,” Mayor Bill de Blasio said Tuesday evening. “Good jobs, modern buildings and concrete improvements that will make East Midtown stronger for the tens of thousands of New Yorkers who work there.”

This is geat news, and great planning by the city. Hudson Yards is filling up faster than anticipated, and there are only a handful of developers there to work with. The City could have stood by and watched east Midtown age to irrelevance, but it didn't. And now, not only is it renewing itself, the public will get improvements in the process.

Sky88 Feb 21, 2018 6:05 PM

New 70-story JPMorgan Chase tower will be the first project under Midtown East rezoning...

http://imgs.6sqft.com/wp-content/upl.../270pa-355.jpg

A model of what the future 270 Park Ave building might look like via CityRealty

http://www.6sqft.com/new-70-story-jp...east-rezoning/

chris08876 Feb 21, 2018 6:47 PM

Way to start off the rezoning with a bang. This is definitely good publicity for DeBlasio.

Prezrezc Feb 21, 2018 6:58 PM

Not happy.

This is the first of two 600'+ International style towers (277 Park-1962) in MidTown, and as such should be respected.

Keep it and do a ground-up job onthe annex.

How big is the annex ft^2 wise?

chris08876 Feb 21, 2018 7:37 PM

Seems like the criticism is starting already. That was quick!

= = = = = =

City’s plan to demolish & replace SOM-designed 270 Park Avenue sparks criticism

Quote:

Earlier today, news broke that the De Blasio administration has hashed out a deal with JPMorgan Chase to demolish its existing headquarters at 270 Park Avenue, and replace the structure with a shiny new 70-story building. The deal was negotiated in the wake of the Midtown East rezoning, which loosened zoning regulations for the area in exchange for developers providing street-level and infrastructure improvements.

But lost in the coverage was any mention of the building’s historic importance: It’s one of Skidmore, Owings & Merrill’s many midcentury commissions (including Lever House, which is just a few blocks away from the Chase HQ), but one of few designed by a woman working in the male-dominated world of architecture. SOM’s Natalie de Blois was, by all accounts, the driving force behind 270 Park Avenue, despite Gordon Bunshaft getting the credit as the design partner.

Or, as Beverly Willis, who works to raise awareness of female architects, put it in a New York Times column celebrating De Blois’s work, “Natalie and Gordon Bunshaft were a team. He took all the credit and she did all the work.”

Naturally, architecture buffs and critics are up in arms over the decision to demolish the building. A release from the city noted that the new building would move forward only when “the project’s approvals are granted,” but 270 Park is not a New York City landmark, which means it is essentially unprotected from demolition. In 2013, the LPC told the Historic Districts Council that 270 Park Avenue “may merit designation,” according to HDC executive director Simeon Bankoff—and doubled down on that in 2016—but it has not begun the process of landmarking.

When the Midtown East rezoning was being negotiated, 11 buildings in the area were named landmarks in one fell swoop—but nearly all of those were prewar structures, aside from the Citicorp Building on Lexington Avenue.

What can be done to save the building is, at this point, unclear. For a recent example of what can happen when the Landmarks Preservation Commission doesn’t act quickly on buildings with historic merit, look to 550 Madison Avenue: Even though the LPC has begun the process of landmarking Philip Johnson’s postmodern icon, its lobby has already been razed, meaning any protections would essentially extend only to its exterior.
===========================
https://ny.curbed.com/2018/2/21/1703...c-architecture

Prezrezc Feb 21, 2018 7:50 PM

So landmark it yesterday and do what you have to to the interior.

Gut and retrofit the whole damn thing if need be.

Knock down the annex, build to 270P's full height (with exterior intact) and cantilever the newer structure above it.

(Someone must've telepathically received the essence of my earlier post.)

patriotizzy Feb 21, 2018 7:51 PM

Quote:

Originally Posted by Prezrezc (Post 8093635)
Not happy.

This is the first of two 600'+ International style towers (277 Park-1962) in MidTown, and as such should be respected.

Keep it and do a ground-up job onthe annex.

How big is the annex ft^2 wise?

I don't care if it's the first of anything, it looks the same as any other 60s era building. A glass/steel box. Tear that box down and let's get something more creative or classy going.

NYguy Feb 21, 2018 8:50 PM

Quote:

Originally Posted by patriotizzy (Post 8093716)
I don't care if it's the first of anything, it looks the same as any other 60s era building. A glass/steel box. Tear that box down and let's get something more creative or classy going.


I don't see the outrage either. Of course, there would be people who complain regardless. But people also would have complained about this:

https://mobile.nytimes.com/2018/02/2...ww.google.com/

Quote:

Chase, one of the city’s largest private employers, has long been unhappy with its aging headquarters at 270 Park Avenue. Built in 1961, it originally was home to Union Carbide. The bank currently has about 6,000 employees crammed into the 52-story tower, which was built for 3,500.

Chase has renovated the 57-year-old tower several times to make it more accommodating.

Four years ago, it went further, exploring construction of a two-towered $6.5 billion headquarters on the Far West Side of Manhattan. But a potential deal unraveled, partly because the city rebuffed a request to provide roughly $1 billion in tax breaks and cash, on top of the $600 million in property tax breaks the bank already receives.

This is a better deal for the city...

Quote:

Chase is expected to buy unused development rights from nearby buildings, generating more than $40 million for public improvements to the streets, pedestrian plazas and sidewalks in the neighborhood under the new zoning plan.

Crawford Feb 21, 2018 8:53 PM

I bet its a full demolition, start from scratch.

It's vastly more expensive and complex to try and build within the existing structure. 425 Park only went that route because they had no other choice.

Submariner Feb 21, 2018 8:55 PM

Of course these assholes want to landmark some shitty, cheap box.

NYguy Feb 21, 2018 9:02 PM

https://www.usatoday.com/story/money...nyc/358343002/

Quote:

Redevelopment and construction are scheduled to start in 2019, and take roughly five years to complete, the bank and government officials said. The project is expected to create more than 8,000 construction-related jobs during the building period.

Upon completion, JPMorgan plans to consolidate employees who currently work in other New York City locations with headquarters staffers in the new tower. In all, roughly 15,000 bank employees are expected to be based in the new tower.

https://www.bloomberg.com/news/artic...15-000-workers

The House That Dimon Built: JPMorgan Plans Soaring HQ in Midtown

February 21, 2018

Quote:

JPMorgan announced on Wednesday it will tear down its Park Avenue headquarters and construct a modern tower that will mark a new era for both midtown Manhattan and the lender. The monument to the success of the largest U.S. bank will set in motion a years-long logistical feat that in all likelihood will culminate just about the time that Chief Executive Officer Dimon, 61, hits retirement.

JPMorgan has remained at 270 Park Ave., a glass International-style affair completed in 1961, even as several other big banks have built flashier New York offices in recent years. The details of the design are pending, but one thing is sure: the new building will be bigger than before -- not unlike JPMorgan, which has more than doubled in size under Dimon.

The headquarters will house 15,000 of the bank’s employees and could be between 70 and 75 stories, depending on how wide its footprint is, said a person with knowledge of the company’s plans.

Prezrezc Feb 21, 2018 11:54 PM

Okay....

Then go sic the demo team on 277 and 245, too. I mean it.

...And FTR, not because I'm what one might call a nut-swinging fan-boy of the type of classic skyscraper architecture that seems to be finding itself increasingly unwelcome in this City, pending the fate of the first 600'+ example of it in MidTown (Isn't that worth landmarking?).

It would and will be a sad day--for me; that's a cinch--if they raze this one...Or worse, all three. If is what Mayor DeBlinkero blithely gives the name "progress", I want 1095 Sixth flayed of its woefully stultified tacky-turqioise skin and re-clad as it was...with the Bell Atlantic logo on the sumbitch.

They'd better seriously think about this. Sure, certain painful compromises have to be made oftentimes in ensuring a growing metropolis't transition to modernity; but let us for now at least consider what's on the table here: A full demo on a 707' structure. Surely no one here considers this a quick job. Also, let's let sink in the fact that this would be the tallest controlled demo of a skyscraper in NY since the Singer...612' and a year to do it.

I haven't beem this pissed about adding to MidTown since they mulled over the deservedly ill-fated exterior overhaul to 1 Astor Plaza @1515 Broadway back in '07.

"To what?", you ask?

Yep. You guessed it.

A fizzecking box. Oh...but a LEED Platinum box (!) furnished with all the latest amenities (!!) for today's Internet-driven business tenants blah blah blah and their clientelle!(!!!)......:no:

I'm hoping fervently that the Times isn't reporting this as a fait accompli.

streetscaper Feb 22, 2018 1:26 AM

Quote:

Originally Posted by NYguy (Post 8093859)

The House That Dimon Built: JPMorgan Plans Soaring HQ in Midtown

Quote:

"could be between 70 and 75 stories, depending on how wide its footprint is, said a person with knowledge of the company’s plans."



If the footprint of the future building is not yet known, that definitely points to a full tear down of the current building.

I say bring it on!!

Koodoo25 Feb 22, 2018 2:12 AM

Quote:

Originally Posted by Prezrezc (Post 8094117)
This is the first of two 600'+ International style towers (277 Park-1962) in MidTown, and as such should be respected.

No offense really but that's a pretty specific and arbitrary qualification for claiming this building has special historical value.

Personally, I dig it. It'll definitely make the view down Park Avenue more impressive than it already is. Plus this could play nicely with 1 Vanderbilt.

Amanita Feb 22, 2018 3:31 AM

I'm not happy about this, 270 and 277 are a couple of my favorites on that stretch of Park Avenue- they look like a pair of pinstriped bookends, or perhaps mates. As for 245 Park, a modern reclad could do that one some good- a modern update on what's there- perhaps bronze/copper tinted glass to replace the brown brick, and some modern terra cotta, like they're using on Steinway tower up on 57th street.

As for 277, I've read articles recently suggesting that they're doing maintenance and renovations aimed at keeping it going a good while longer. It's a beautifully maintained building.
As for 1095, if I'd had my druthers, I might have given it a blend of what it had before, and what it has now- replace those white marble pinstripes with glass similar to what was used for the reclad of First Canadian Place, and swap out that that old black glass for the green. It would still have its cool pinstripe/piano keys pattern, but with a nice modern update.

NYguy Feb 22, 2018 5:05 AM

Quote:

Originally Posted by Prezrezc (Post 8094117)
Okay....

Then go sic the demo team on 277 and 245, too. I mean it.

You should make a sign and go stand in front of those buildings and call for it then.

Meanwhile, there is a very specific a serious proposal to take this one down and replace it with a larger and modern office tower that can accommodate the bank's needs under one roof. And it will be in an area of Midtown that the city is desperately trying to hold as the number one business district in the city, even as it provides room for expansion elsewhere. With all of the improvements already coming to the area, thanks to One Vanderbilt (which is really the first tower to move forward under rezoning, just a technicality) and the Eastside Access of the LIRR make this the logical place to add density. I don't hate this building, but I think the improvements (in both the new building, and area) outweigh just trying to hold on to a building just because it's old. And it Chase had decided to refurbish the building again, it would likely get a new facade like some of the other buildings are doing now anyway, so it wouldn't even look like the same building, losing the point of trying to keep it.

They say this would kick off next year, so that means the approval process (a formality) would have to kick off this year to get things in place. I'm looking forward to learning and hearing more about this proposal as it moves forward.

In the meantime, some Google Earth images...



1.
http://a4.pbase.com/o10/06/102706/1/...DyWdcyy.g1.JPG


2.
http://a4.pbase.com/o10/06/102706/1/...7UTmOUm.g2.JPG


3.
http://a4.pbase.com/o10/06/102706/1/...ZiDmsKt.g3.JPG


4.
http://a4.pbase.com/o10/06/102706/1/...NXO0Nix.g4.JPG


5.
http://a4.pbase.com/o10/06/102706/1/...cw41bEZ.g5.JPG


6.
http://a4.pbase.com/o10/06/102706/1/...sXzYsAv.g6.JPG


7.
http://a4.pbase.com/o10/06/102706/1/...Qpyj4Sw.g7.JPG


8.
http://a4.pbase.com/o10/06/102706/1/...2oC8GIA.g8.JPG


9.
http://a4.pbase.com/o10/06/102706/1/...xmi0h7B.g9.JPG


10.
http://a4.pbase.com/o10/06/102706/1/...8en9tA.g10.JPG


11.
http://a4.pbase.com/o10/06/102706/1/...pgc4B0.g11.JPG


12.
http://a4.pbase.com/o10/06/102706/1/...C20Q0c.g12.JPG


13.
http://a4.pbase.com/o10/06/102706/1/...OmKWSB.g13.JPG


14.
http://a4.pbase.com/o10/06/102706/1/...XFcMiu.g14.JPG


15.

http://a4.pbase.com/o10/06/102706/1/...TNvR2Y.g15.JPG

NYguy Feb 22, 2018 5:14 AM

https://www.businesswire.com/news/ho...n-NYC-Mayor-de

JPMorgan Chase CEO Dimon and NYC Mayor de Blasio Announce New, State-of-the-Art JPMorgan Chase Headquarters to Rise at 270 Park Ave

Company Will Collaborate Closely with Other Key Government Officials, Including New York City Council and Governor’s Office, to Quickly Move Process Forward


February 21, 2018


Quote:

“This is our plan for East Midtown in action. Good jobs, modern buildings and concrete improvements that will make East Midtown stronger for the hundreds of thousands of New Yorkers who work here. We look forward to working with JPMorgan Chase as it doubles-down on New York as its international home,” said Mayor Bill de Blasio.

New York State Governor Andrew Cuomo said: “New York State is the business capital of the globe, and our investments in workforce development and commercial enterprise have positioned us at the forefront of innovation and growth. JPMorgan Chase’s commitment to build their new, state-of-the-art corporate headquarters and support thousands of jobs here in New York is proof that our economic development strategies are successful, and I look forward to working with them to keep New York State’s momentum moving forward.”

The building’s modernized infrastructure and design, including 21st century systems and technology, would allow for improved business adjacencies, synergies and collaboration. Clients, shareholders and the surrounding community would benefit from this innovative project, which would also support the firm’s commitment to attracting and retaining best-in-class talent. The new building would house about 15,000 employees, replacing an outdated facility designed in the late 1950s for about 3,500 employees.



https://nypost.com/2018/02/21/jpmorg...ry-skyscraper/

Quote:

No architect has been selected yet, Joe Evangelisti, a bank spokesman, told The Post.

The announcement ends a beef between Dimon and de Blasio over $1 billion in tax breaks the company wanted in exchange for building two towers on the West Side. The deal fell apart, with Hizzoner calling the subsidies a “non-starter.”

But under the Midtown East Rezoning Plan, which the de Blasio administration ushered in last year, the city will get $61.49 per square foot to fund public improvements in the area, according to the announcement.

Eidolon Feb 22, 2018 9:18 AM

The first of many to come in Midtown East!

The Best Forumer Feb 22, 2018 2:21 PM

This will fit right in.

The Best Forumer Feb 22, 2018 2:22 PM

Quote:

Originally Posted by HomeInMyShoes (Post 8093472)
700 foot demolition is not an everyday event. Super cool from a logistics and planning
perspective.

Agree. Ya'll make sure to take some pics.

Busy Bee Feb 22, 2018 5:05 PM

I think it will also go a lot faster than most would think. I can imagine a steel and glass structure going exponentially faster than a concrete structure or even a steel building with a masonry facade. Once a rhythm is achieved with rigging and removal, it wouldn't surprise me if this thing is down to the foundation in 4-6 months. Which is another thing I've wondered about: I would assume they are intending to reuse the foundations, it would surprise me if they did not.

NYguy Feb 22, 2018 5:09 PM

^ That's true. And the city and state are looking to move this along quickly. Also, this isn't like a developer looking for a tenant before trying to get financing, etc.

About the foundations, It will likely be something new.

I'm hoping it has a crown of sorts. If it's just a box, I prefer it at least won't top 1 Vanderbilt's crown.

Prezrezc Feb 22, 2018 5:18 PM

By Point:

Quote:

Originally Posted by NYguy (Post 8094480)
You should make a sign and go stand in front of those buildings and call for it then.

Maybe I should...or for all that's worth, maybe I should just watch holographic flying Rocky Mountain spotted osyters sprout forth fom my nostrils.....:D


Quote:

Originally Posted by NYguy (Post 8094480)
There is a very specific a serious proposal to take this one down and replace it with a larger and modern office tower that can accommodate the bank's needs under one roof.

I suggested this earlier; but is it possible...even instead of doing a grander-scale 425 Park job on the existing tower as was previously suggested...to build around it, i.e using the square footage from the annex, building to 700' at the existing tower--which itself would become the new annex--and actually cantilevering the remaining 500' or whatever over it?


Quote:

Originally Posted by NYguy (Post 8094480)
And it will be in an area of Midtown that the city is desperately trying to hold as the number one business district in the city, even as it provides room for expansion elsewhere. With all of the improvements already coming to the area, thanks to One Vanderbilt (which is really the first tower to move forward under rezoning, just a technicality) and the Eastside Access of the LIRR make this the logical place to add density.

No denying from me that it's a hard, yet necessary compromise for a hardliner like me. I mean the Three Sisters of Park Avenue were for me as a kid what the Three Musketeers (Times, Conde Nast and BofA) are for many today...and rightly so. But I guess if one wants to make an omelette...

Quote:

Originally Posted by NYguy (Post 8094480)
I don't hate this building, but I think the improvements (in both the new building, and area) outweigh just trying to hold on to a building just because it's old.

Ah...Old from a standpoint of practicality for today's technological and business models; Tha's for sure. But it's status as the first true skyscraper of its type in MidTown cannot be overlooked.
And this is the saddest part of the story for me: We're looking, for all intents and purposes, at a modern-day version of the Singer Building swan-song. The only difference here is that this potential dismantling is being prompted by real-world circumstances that indeed need to be addressed.


Quote:

Originally Posted by NYguy (Post 8094480)
And if Chase had decided to refurbish the building again, it would likely get a new facade like some of the other buildings are doing now anyway, so it wouldn't even look like the same building, losing the point of trying to keep it.

A. Could they have recladded with newer materials yet keeping the feel of the original design? B. It bears repeating; but I am reminded of the disastruous plans to re-purpose One Astor Plaza...I dunno: apples and oranges maybe. :shrug:

Quote:

Originally Posted by NYguy (Post 8094480)
I'm looking forward to learning and hearing more about this proposal as it moves forward.

You can bet I'll be on this like something on a stick.........

NYguy Feb 22, 2018 8:16 PM

^ There are no points to be made.


https://therealdeal.com/2018/02/22/t...avenue-report/

Tishman Speyer top candidate to develop 270 Park Avenue: report
No deal yet, but the prolific developer is considered overwhelming favorite


February 22, 2018


Quote:

The 70-story tower JPMorgan Chase wants to build at 270 Park Avenue will likely be developed by Tishman Speyer, according to a new report.

Sources told Politico New York that the bank and city officials are nearing a deal with the developer for a ground-up 2.5 million-square-foot office tower, made possible by a recent rezoning of Midtown East.

The preliminary plan has the support of both Gov. Andrew Cuomo and Mayor Bill de Blasio.



https://www.bloomberg.com/news/artic...alive-and-well

JPMorgan Plan for Soaring Tower Signals Midtown’s Alive and Well


https://assets.bwbx.io/images/users/.../v0/740x-1.jpg


By David M Levitt
February 22, 2018


Quote:

If the office district’s supremacy had been threatened by the rise of Hudson Yards on the far west side and the rebuilding of the World Trade Center to the south, JPMorgan Chase & Co.’s decision to build a taller skyscraper on the site of its current Park Avenue headquarters says it’s still New York’s power center.

The bank plans to demolish the almost-60-year-old building it owns at 270 Park Ave. and replace it with a 70-to-75-story tower that would be ready in about five years.

For companies drawn to new developments like Hudson Yards, it was less a matter of geography than the appeal of glitzy new skyscrapers -- a stark contrast with Midtown’s aging office stock, according to Marc Holliday, chief executive officer of landlord SL Green Realty Corp. JPMorgan’s commitment to Park Avenue shows the neighborhood around Grand Central Terminal is still a magnet for New York’s biggest companies, and its project will generate momentum for further development, he said.

The bank’s decision “will just solidify the importance of this area to the city,” Holliday, whose company is building the One Vanderbilt skyscraper nearby, said in an interview. “Given the opportunity to build new construction in east Midtown, it will almost always be corporations’ first choice to plant their flag.”

This is a point that keeps getting lost...

Quote:

“It’s not the West Side, it’s new construction,” Holliday said. There is demand by major corporate tenants “for new, state-of-the-art buildings that can offer things that older buildings can’t offer, even when they’re redeveloped.”

Prezrezc Feb 22, 2018 8:43 PM

Hmm...

From the looks of it in that pic, it has seen better days. :(
But life goes on within us/without us........

@Guy; This very well could be the spire-topped dominant tower you're looking for. Build something at 1,200' even and add something as tall as the WTC1 spire (408') and voila.
I'm cautiously assuming no height limit in the immediate area.

BTW, YIMBY is reporting that as a controlled demo, it will be the largest such undertaking ever:

From today:

https://newyorkyimby.com/2018/02/270...d-history.html

jackster99 Feb 22, 2018 9:48 PM

Just occurred to me, where is JP Morgan going to put its 6000 employees that currently occupy 270 Park while the demo/new construction is going on?

The plan for finding a space for 5 years and moving all those employees there, and back to the new 270 Park again would be quite the logistical nightmare I would think

Zerton Feb 22, 2018 10:07 PM

Quote:

Originally Posted by Prezrezc (Post 8095439)
Hmm...

BTW, YIMBY is reporting that as a controlled demo, it will be the largest such undertaking ever:

From today:

https://newyorkyimby.com/2018/02/270...d-history.html

I love that Simcity 4 model. I found the artist's website where he posted it yesterday while searching for news about this.

JMKeynes Feb 22, 2018 10:24 PM

https://therealdeal.com/2018/02/22/s...ng-air-rights/

chris08876 Feb 22, 2018 10:36 PM

Quote:

Originally Posted by jackster99 (Post 8095527)
Just occurred to me, where is JP Morgan going to put its 6000 employees that currently occupy 270 Park while the demo/new construction is going on?

The plan for finding a space for 5 years and moving all those employees there, and back to the new 270 Park again would be quite the logistical nightmare I would think

I posed same question earlier too. I know JP scatters its employees, Brooklyn being one point, but 6000 is quite a lot. There's also 28 Liberty, but I'd imagine the occupancy on that tower is quite full.

But all in all, given the amount of folks working there, seems like they want this to happen and will go full speed. 5 years is a long time in real estate ( a lot can happen ), but so long as the time table is consistent, no complaints from me.


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