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  #81  
Old Posted Dec 4, 2019, 4:59 PM
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Why is that last pic so good? Something about the framing and lighting.
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  #82  
Old Posted Dec 4, 2019, 5:06 PM
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The wait for a rendering here is onerous.
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  #83  
Old Posted Dec 6, 2019, 8:59 PM
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Still have the two adjacent structures that will see the wrecking ball. Two smaller 5/6 story structures.

This assemblage holds great potential. Hopefully Extell maximizes its usage.
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  #84  
Old Posted Dec 6, 2019, 9:20 PM
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Does anyone have an overlay of the total footprint of this proposed tower?
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  #85  
Old Posted Dec 6, 2019, 10:31 PM
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Originally Posted by chris08876 View Post
Still have the two adjacent structures that will see the wrecking ball. Two smaller 5/6 story structures.

This assemblage holds great potential. Hopefully Extell maximizes its usage.
Are we sure they are doomed? I wondered this some time back. The one is quite nice, I'd like to see it stay. But greed....
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  #86  
Old Posted Dec 6, 2019, 10:35 PM
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No reason they can't incorporate this little stunner into the tower base. All they need is a little imagination.
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  #87  
Old Posted Dec 7, 2019, 3:41 AM
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Are we sure they are doomed? I wondered this some time back. The one is quite nice, I'd like to see it stay. But greed....
Scaffolding is present on the two structures at the moment.


Credit: Oppix56
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  #88  
Old Posted Dec 7, 2019, 4:30 AM
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Very dissapointing, but in NY not at all surprising.
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  #89  
Old Posted Dec 7, 2019, 6:20 AM
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^^^^

I think it'll depend ultimately on what rises. This is Extell we are talking and a sizable addition could rise here. I guess the sacrificial low rises could be seen as acceptable for the greater good IF (keyword) something stellar rising here. IF NOT, than it just sucks for aesthetic lovers.

What was sacrilage with the demo of the Bancroft Building at 8 West 30th Street. The design slated for that proposal is utter garbage.

But in the end, such is the fate of structures. Lesson of the day is that if its not land marked, a structure is subject to execution. If Landmarked, and if they really want it, it must go through the commission, in which, they are the judge but they tend to protect good structures most of the time.

I agree with you btw, shame to see the little one go.
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  #90  
Old Posted Dec 7, 2019, 2:32 PM
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It's just particularly egregious because it could be a charming asset to the base of the new tower with just an ounce of vision. It reminds me of Gordon Gekko yelling he's wrecking Bluestar Airlines becuase "it's wreckable!" It's just hard to understand how in 2019 a developer can look at that beautiful building and say "let's fuckin destroy it."
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  #91  
Old Posted Jan 3, 2020, 8:13 AM
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Extell nabs $440M in financing for Midtown assemblage


portion of the assemblage at 562-572 Fifth Avenue, 2 West 47th, and 10 West 47th


Quote:
In one of its last big deals of 2019, Gary Barnett’s Extell Development tightened its grip on a Midtown development site, and sewed up $440 million in new financing for a future project there.

The site, not far from Extell’s International Gem Tower, is comprised of a 13-part assemblage at Fifth Avenue between 46th and 47th streets.

In two separate transactions in late December, Extell bought out Hong Kong-based Meridian Capital Limited’s stake in the assemblage for $263.7 million. It also bought out SL Green’s interest at 562 Fifth Avenue for $52.4 million.

Extell also landed the $440 million in financing for the deals, according to PincusCo Media, which first reported on the loan and buyout. The total includes a $340 million senior loan from JPMorgan Chase and another bank and a $100 million mezzanine loan from Meritz Financial Group. The project — which has as-of-right development potential of 607,557 square feet — is likely to be an office building, Extell began assembling pieces of the site in 2008, and has shelled out $540 million to date.
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  #92  
Old Posted Jan 3, 2020, 6:48 PM
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Barnett really wants to totally kill off the Diamond District, doesn't he?

... along with anything:
-charming
-of historic value
-more than 70 years old
-of human scale
-not maxing out its FAR
-made of durable or hand-crafted materials (i.e., not glass/precast panels)

Basically he wants us all to live in his own little Houston...
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  #93  
Old Posted Jan 4, 2020, 2:02 AM
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I really wish he could get that corner parcel to get full 5th ave frontage....that would be amazing.
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  #94  
Old Posted Jan 4, 2020, 4:13 PM
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5th Avenue is primed for development. The whole stretch, bar the structures that are land marked. Its happening already as we speak. Ones that are land marked have to get approval, and in typical fashion, may involve some incorporation of the land marked structure.
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  #95  
Old Posted Jan 4, 2020, 5:05 PM
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That said, that last structure is gorgeous and should have been saved regardless of landmarking. People in the future will be in disbelief how something could be so recklessly destroyed.
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  #96  
Old Posted Jul 21, 2020, 2:28 PM
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  #97  
Old Posted Jul 21, 2020, 4:07 PM
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I really hope that Extell does not disappoint us. This part of Fifth urgently needs a massive upgrade, and this tower could set the tone for what will follow.

I fear that a fat, L-shaped, 600' box can rise here.
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  #98  
Old Posted Jul 21, 2020, 4:28 PM
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Quote:
Originally Posted by JMKeynes View Post
I really hope that Extell does not disappoint us. This part of Fifth urgently needs a massive upgrade, and this tower could set the tone for what will follow.

I fear that a fat, L-shaped, 600' box can rise here.


It's interesting that Extell is in the planning process for two large assemblages on 46th Street - one on 8th, and one here on 5th. I think whatever gets built here will most likely have a retail base, maybe some office and residential mixed in. One thing for sure, they are going to let the market to decide what and when to build. I don't think the sites will change hands, large assemblages are hard to come by. So there could be some time before anything rises on either site. We'll just have to wait and see.
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  #99  
Old Posted Jul 21, 2020, 4:29 PM
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Originally Posted by chris08876 View Post

Credit: Oppix56

Does anyone know how frequently masonry architectural elements are salvaged from facades like the one on the right? Does anyone know if they are salvaging this one? It's a sickening thought it could end up in the bed of a dump truck this is.
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  #100  
Old Posted Jul 21, 2020, 4:38 PM
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Quote:
Originally Posted by NYguy View Post
It's interesting that Extell is in the planning process for two large assemblages on 46th Street - one on 8th, and one here on 5th. I think whatever gets built here will most likely have a retail base, maybe some office and residential mixed in. One thing for sure, they are going to let the market to decide what and when to build. I don't think the sites will change hands, large assemblages are hard to come by. So there could be some time before anything rises on either site. We'll just have to wait and see.
I agree.

Didn't Extell also acquire a stake in Ceruzzi's plot on 5th and 44th?
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