[NYguy]

Originally Posted by JSsocal

You don't need to cherry pick what I wrote- In the next paragraph I write that I agree the new building should not be halted for this. A new 2.5m sf tower is a boon to east midtown. No arguments here.

I'll respond to what I wish, thank you. Don't want a response, say nothing.

All I am lamenting is that 270 Park is aesthetically striking, very large, and still quite a functioning office building that many smaller tenants would happily occupy.

Yes. And many smaller tenants would happily occupy a host of other buildings across Manhattan.

And my whole point was that this was an issue of size (Chase needs lots of space and this happens to be the property they own) and not that the building was obsolete. Let's not compare this to this to tenements, this building is plenty desirable.

The building is obsolete, maybe not in some other markets, but in New York, it in no way compares with what today's market has to offer.

Here's something key: if this property was owned by a developer and not by a bank that's building it's own headquarters then this building would not happen.

I don't see how you jump to that conclusion. Midtown east was rezoned with the specific purpose of creating new office space, but the fact is, there are very few sites where this can happen, even when buying up multiple properties. They are able to build on this site - taking a 1.5 msf property to 2.5 msf specifically because of the rezong and the size of this lot.

In my opinion the worst offenders in midtown, the ones I would agree with you are 'functioning but undesirable' right now are the early postwar wedding cake buildings that are small, forgettable, and unpleasant to be in. I'm hoping that those will be the buildings that are quashed because to me those are the ones holding back the district.

And some of those may go, but they won't yield the enormous office towers like you see being developed on the west side. Even One Vanderbilt, for all its height and the number of buildings that had to come down for it, doesn't offet a footprint as large as the wesr side towers. That's why you will see a series of smaller leases there rather than leasrs in the half to 1 msf range. But the City wants east midtown to remain a viable option for the big tenants, and here's one taking care of itself, an easy win for the mayor and governor.


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Now, for the landmarking crowd, those of you who wait until something is proposed to want to jump into action. You are no different than the people who suddenly want a rezoning for their neighborhood whenever something new is planned. Where were you all when this plan went through public review, and buildings that weren't already landmarks were being considered? Where wad the outrage? If you didn't offer it then, please, spare us now. Better to put your energy into actual buildings that don't have protection and need it before something else comes along.