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NEW YORK | 99 Hudson (550 West 37th) | 745 FT | 48 FLOORS

Good news! I've been waiting for this to sell. Article says aprox 640k sf, but from my investigation... I have around 880k sf. Ever since, losing out the bid to Related, it's clear they want to be a major player and put their stamp in the Hudson Yards!

Pretty much, most of the Boulevard parcels are spoken for, except that Javits Hotel site that sits between 35th and 36th Street on 11th Ave. Chetrit is selling his lot that sits between 37th and 38th Street. Maybe Tishman makes a play for it too.

As per Acris, I had identified this address (550 West 37th) to be purchased by TS. It's an l shape lot that runs from 11th Ave on 36th street and runs up to 37th street bordering the eventual Hudson Boulevard.

Tishman Speyer is buying a $300M Hudson Yards development site

http://www.crainsnewyork.com/article...medium=twitter

Quote:

The owner of Rockefeller Center, the Chrysler Building and other trophy real estate in midtown is betting that the center of Manhattan will shift to the far West Side.

Tishman Speyer is buying a large development site across the street from the Javits Center for more than $300 million, say several sources familiar with the deal. The land, between West 36th and West 37th streets on 11th Avenue, can accommodate at least a 640,000-square-feet mixed-use property, including a residential or hotel development. Tishman Speyer is purchasing the site from the Imperatore family, which has owned it for several years.

Sources speculated that Tishman Speyer could acquire additional air rights in the district that would allow it to build bigger, expanding the square footage to at least 1.7 million square feet.

The deal would solidify Tishman Speyer as the third major developer to build in the Hudson Yards neighborhood. The Related Cos. is in the process of developing a $20 billion complex of office, residential, retail, hotel, cultural and public space over the West Side rail yards. Across from Related's site, Brookfield Properties has begun constructing Manhattan West, a $5 billion office, residential and retail complex.

Even before this potential deal, Tishman Speyer had plans to invest in the neighborhood. The company was the original winner chosen by the Metropolitan Transportation Authority in 2008 to develop the rail yards, but backed out during the recession. Related subsequently swooped in and reached an agreement with the MTA to lease and develop the site.

Then last year, Tishman Speyer returned to Hudson Yards and paid $438 million for another development site located between West 34th and West 35th streets on 10th Avenue that can accommodate almost 3 million square feet of office space. The developer disclosed that it plans to spend more than $3 billion on that project.

Tishman Speyer owns some of the most prominent buildings in the city. In addition to Rockefeller Center and the Chrysler Building, the company controls 200 Park Ave., a soaring office tower above Grand Central Terminal.

The Hudson Yards neighborhood is quickly being transformed. Major office tenants such as Coach, Time Warner and Skadden Arps have committed to the area. Most recently, the law firm of Boies Schiller & Flexner became the first office tenant at Related's 55 Hudson Yards.

In addition to the High Line, the upcoming No. 7 subway extension, a new grand boulevard and millions of square feet of retail, cultural and public space are expected to make the area a thriving mixed-used district.

Although, they have a nice amount of square footage for development, I suspect this goes around 800' because of the size of the parcel and it's irregular shape. Although, there is speculation they may buy more air rights to upgrade to 1.7msf, I think this has a great chance reaching over 300m.

Fantastic news; TSP is definitely confident in the Hudson Yards, at this point. I expect some great towers from this developer.

I forget, is transferring air rights only for adjacent plots, or could they possibly transfer what they have here to the 34th and 10th 'Hudson Spire' site?

Great news!

We will have TWO GIANT Tishman Speyer towers in the Hudson Yards.

I greatly look forward to seeing this site and the Spire site developed.

Quote:

Originally Posted by Hudson11 (Post 7057676)

I forget, is transferring air rights only for adjacent plots, or could they possibly transfer what they have here to the 34th and 10th 'Hudson Spire' site?

Normally in NYC, air rights can be freely transferred around within the same block. But bonus air rights can be purchased within the Hudson Yards district exceeding what the property was rezoned for. That being said, I'm thinking that no, air rights associated with a property cannot be transferred off their respected block w/o a variance. As for the purchasable bonus air rights, I'm really not sure. Anyone correct me if I'm mistaken.

^^ i thought as much. Anyway, news of another mid-sized (we're still spoiled in NYC) tower by Tishman Speyer is exciting.

I assume Tishman Speyer is going for a hotel-residential tower on this site? The other site will be office, but this site doesn't really have a big footprint.

If we're talking 1.7 million square feet, this will be a very tall tower.

Yet another for NYC!

Tishman can now build the two tower campus that JPMC sought from Related!

This is the Age of Ramses, lads!

It really is. I keep saying how can it get any better, and it does.

It is the age of Ramses. :cool:

Modern day Rome transforming into Coruscant.

Quote:

Sources speculated that Tishman Speyer could acquire additional air rights in the district that would allow it to build bigger, expanding the square footage to at least 1.7 million square feet.

:slob: So..... it looks like another supertall in the works. The time is now to be bullish!

http://media.giphy.com/media/12ZDfcLpEvvGM0/giphy.gif

That bull represents NYC. Nothing can stop it.

Quote:

Originally Posted by JR Ewing (Post 7058155)

Tishman can now build the two tower campus that JPMC sought from Related!

This is the Age of Ramses, lads!

I like the way you think, JR!

:cheers:

Where will UBS land? Deutsche Bank? Salesforce? Ralph Lauren? Sotheby's? Samsung?

I'm sure I'm missing some companies.

In any event, office tower construction is roaring on!

http://www.touregypt.net/images/touregypt/treaty4.jpg

J.P. Morgan is the gift that keeps on giving to mighty Manhattan!

http://dealbreaker.com/uploads/2014/...ery-summer.jpg

http://img.timeinc.net/time/2008/tim...ames_dimon.jpg

While this may be speculative, I feel its food for thought. Was talking to JR at yimby forums, and he mentioned this. He tends to be eerily right about things.

=========================

Quote:

"To welcome his staff to their new home, Ingels calls for a midmorning champagne toast. Someone plays Sinatra’s “New York, New York,” and then Ingels gives a speech. He rattles off a list of exciting projects, many of them not yet public, including a second Manhattan skyscraper. “It’s not every day that you do a 1,200-foot tower in New York City,” he quips. “But it feels like every day.”"

Also, earlier in the article, it refers to four BIG projects that will transform the Hudson River skyline. It specifically says: "In Manhattan alone, Ingels is simultaneously designing four major additions to the Hudson River skyline and a $335 million hybrid park...."

We know about:

200 Greenwich;
The 57th St pyramid; and
The HFZ project in Chelsea.
I'm unaware of a 4th. Since Bjarjke has become Larry's buddy, maybe he's designing the 40th St supertall!

Even better, maybe he's designing Tishman's HY tower!

AND

Quote:

BIG is designing a new tower for Tishman Speyer in Frankfurt. This leads me to conclude that his "not yet disclosed 1,200' tower is Tishman's HY project ." I hope that JPMC will anchor it!!

Too good to be true! This is just ridiculously good. What are the dimensions of the site?

Rob Speyer to be sole CEO of Tishman Speyer

Quote:

Tishman Speyer’s Rob Speyer has been appointed sole CEO of the company, after sharing the title for seven years with his father Jerry Speyer, according to an internal memo obtained by The Real Deal. Jerry will remain chair of the firm, which oversees a global portfolio of nearly 100 million square feet.

“This is a natural progression in the leadership of the firm and one that also reflects the reality of the way we have been running the business since becoming co-CEO’s seven years ago,” read the memo, which was sent to Tishman Speyer employees worldwide. “As leaders of a private enterprise, we strongly believe in the importance of actively shaping our own future. This means progressive change without losing the continuity of experience and management that is one of our key strengths.”

Since 2008, the two have shared the title of co-CEO, while Jerry, 75, acted as chairman and Rob, 45, had the title of president. Over those few years, the younger Speyer has taken on more of the day-to-day responsibility of running the company. A spokesperson for the company declined to comment. Its 98.3 million-square-foot portfolio includes more than 50 million square feet in North America, more than 17 million square feet in China and more than 12 million square feet in India, according to its website. In 2013, a TRD analysis found that Tishman Speyer’s New York portfolio — in excess of 16 million square feet — was the most valuable among New York’s real estate dynasties, with a net operating income of $568 million. Its holdings include New York icons such as Rockefeller Center, with minority interests in the Chrysler Building and the MetLife Building. Its Manhattan development projects include a $3.2 billion mixed-use tower in the Hudson Yards district. Jerry Speyer, who Forbes estimates is worth $4.4 billion, was recently dubbed the most-connected New York real estate executive by Crain’s. An avid art collector, he serves as the chair of the Museum of Modern Art and formerly served as the chair of the Federal Reserve Bank of New York. In the early 1990s, Rob Speyer worked as a metro reporter for the New York Daily News, where he broke news of a major housing scam in the South Bronx. He joined the family business in 1995 and was a driving force behind the firm’s $5.4 billion acquisition of Stuyvesant Town and Peter Cooper Village, which ultimately ended in default.

In 2012, he became the youngest-ever chair of the Real Estate Board of New York. In recent years, he has upped Tishman Speyer’s bets on the outer boroughs; the firm paid $170 million for Macy’s Downtown Brooklyn property at 422 Fulton Street, which it is largely converting to office space, and it’s also developing an 1,800-unit residential project in Long Island City. But it’s not just blockbuster deals that have gotten the young real estate executive in the headlines. In May, U.S. Attorney Preet Bharara alluded to Rob Speyer in his criminal complaint charging then-state Senate Majority Leader Dean Skelos with corruption.

While Speyer was neither directly named nor accused of any wrongdoing, Bharara’s complaint made reference to a meeting between Speyer and Skelos’ son as an example of how the lawmaker leveraged his official position to curry favor with the city’s elite.

========================
http://therealdeal.com/blog/2015/09/....oe4apfSr.dpuf

Well, when we may see some design or model of this $3.2 billion mixed-use tower in the Hudson Yards district? :shrug:

You know NY is totally spoiled when it comes to skyscrapers since 1,200' almost seems like a disappointment. Obviously that height could change and the design could be incredible but I feel like they should try and top 30HY.

In any case that's pretty awesome! Can't wait to see it.

Tishman Speyer plans 1.3M sf office tower across from Javits Center :cheers:

http://therealdeal.com/wp-content/up...dson-yards.jpg

Quote:

Tishman Speyer completed the assemblage of its second development site in Hudson Yards, where the company plans to build a 1.3-million-square-foot office tower across from the Jacob Javits Center.

The developer announced Wednesday that it had acquired a small property with a footprint of roughly 7,400 square feet at 550 West 37th Street for an undisclosed price. Property records show the seller to be the Chiaia family of Clifton, New Jersey, who could not be reached for comment.

Tishman said it closed on the purchase this month along with the acquisition of a property at 434-444 Eleventh Avenue from the Imperatore family, previously reported to be about $185 million.

The company plans to build a 1.3-million-square-foot office tower with retail on the site between 37th and 38th streets along Eleventh Avenue.

It’s the second tower Tishman has planned for the Hudson Yards neighborhood. The company last month revealed plans for its Bjarke Ingels-designed, 2.85-million-square-foot tower at 34th Street and 10th Avenue, dubbed “The Spiral.” The firm received a 25-year tax abatement worth $170 million for that project, and is also seeking financing by pre-leasing about 30 percent of the tower.

CEO Rob Speyer said in prepared remarks that Tishman Speyer’s plans to develop more than 4 million square feet of commercial space in the neighborhood affirms the company’s belief that “Manhattan’s far west side is well on its way to becoming the world’s most modern, dynamic and sustainable urban neighborhood.”

In its November issue, The Real Deal looked at which tenants signed and how much space remained available at The Related Companies’ Hudson Yards site.

=================================
http://therealdeal.com/2016/03/09/ti...javits-center/

I like that Tishman Speyer is bringing in more office space to the Hudson Yards. Related has been mostly building residential. Unfortunately, if Tishman offers any good deals, they will likely draw potential tenants away from 2 WTC.

A block south of another new Hudson Yards tower (555 W 38th), we'll see which gets underway first.

http://forum.skyscraperpage.com/showthread.php?t=221231

Tishman won’t build near Javits Center without anchor tenants

Ariel Stulberg (NYP)
March 15, 2016

Quote:

Tishman Speyer has no plans to start building on its newly-assembled far West Side side.

The developer won’t begin on its planned 1.3 million square foot office tower at the site – across from the Jacob Javits Center on 11th Avenue between 37th and 38th streets – until it has pre-signed tenants in place, the New York Post reported, citing sources familiar with the company’s plans.

Tishman announced two buys at the site last week. It bought 434-444 Eleventh Avenue from the Imperatore family, for roughly $185 million. It also picked up a 7,400-square-foot plot at 550 West 37th Street from the Chiaia family for an undisclosed price.

“Manhattan’s far west side is well on its way to becoming the world’s most modern, dynamic and sustainable urban neighborhood,” the company’s CEO, Rob Speyer, said at the time.

The company is planning another tower nearby, at Hudson Yards. That Bjarke Ingels-designed, 2.85-million-square-foot office tower is to be known as “The Spiral.”

The firm received a 25-year tax abatement worth $170 million for that project, and is also seeking financing by pre-leasing about 30 percent of the tower.

Major office tenants including Time Warner, KKR, Boston Consulting Group and Skadden Arps have recently quit Midtown for the Related Cos’ Hudson Yards towers and Brookfield’s Manhattan West