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Old Posted Jan 29, 2020, 2:12 AM
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chris08876 chris08876 is offline
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 36,730
Would depend on the needs. A 3-4 billion dollar tower is not within the realm of implausibility. 50 Hudson for example is close to 4 billion to develop factoring in hard/soft costs. It could end up costing more than 1 WTC.

Would it make it a little more challenging, yes, but for deep pockets, it really depends on the long term optics for the parcel. I don't expect it to be developed this cycle, but something in the long term, when the needs demand it, we shall see. Yeah it was renovated/re clad.

Midtown Rezoning will increase the chance of these large purchases for towers to be redeveloped. 270 Park is just the start. Check out 350 Park as well involving Vornado.

Acute thinking is not the game with office developments. Long-term optics are. Now for residential, of course this site would not make sense at all, but for office, yes.
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