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  #1  
Old Posted Sep 17, 2021, 7:53 PM
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Smile NEW YORK | 260 Madison | FT | FLOORS

Gale Brewer's weekly update lists 260 Madison among projects her office is working on for ULURP approvals. The site is just outside of the midtown east rezoning, but that just means it will undergo ULURP.

https://www.manhattanbp.nyc.gov/weekly-update-9-16/










Curbed just happened to have asked this question, which has nothing to do with the proposal....




https://www.curbed.com/2021/02/offic...cture-aro.html

Would You Want to Live in an Office Tower on East 38th Street? We asked an architecture firm to do a (theoretical) conversion.





By Justin Davidson
February 19, 2021


Quote:
Even as a new herd of giraffe-like towers cranes over the midtown skyline and airy work dens keep popping up at the edges, a vast stash of 50- to 70-year-old modernist office buildings sits in Manhattan’s wide midsection, begging for new purpose. Unglamorous and unloved, with low ceilings and leaky joints, many have let themselves go. Their air is stale, their elevators slow, their future murky

When companies do trickle back to midtown, they may gravitate to younger, sleeker towers, leaving these buildings, long since demoted to Class B and C status, to struggle in a discombobulated market. The law of supply and demand presents an obvious solution: convert them to apartments, which are chronically scarce...........
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To see how cubicles and conference rooms might be magicked into kitchens and bedrooms, I turned to a small but feisty New York firm, Architecture Research Office, founded in 1993 by Stephen Cassell, Kim Yao, and Adam Yarinsky. Working on short notice and for the eminently reasonable fee of zero dollars, the architects engaged in a whirlwind bout of research and creative thinking.

As their candidate for rejuvenation, ARO chose 260 Madison Avenue, between 38th and 39th Street, a bad building by an architect who had once been good. In the 1930s, the Austrian-born Sylvan Bien designed some flamboyantly New York–y hotels like the Carlyle and the Beverly (now the Benjamin), all stripes and crowns and crenellations. After World War II, he retooled as a sober modernist, and in 1950 replaced New York’s most extravagantly baronial residence, Charles Schwab’s Riverside Drive mansion, with the no-frills red-brick Schwab House.

The stepped stack of 18 floors at 260 Madison Avenue was in the works by then, its appeal boosted by a timely amenity: a nuclear fallout shelter big enough for 4,000. It opened in 1952, and even the upper floors felt slightly bunker-like; commercial-grade ducts give the offices 8.5-foot ceilings, low enough to make a tall man slouch preemptively. (A residential rehab would raise the ceiling height to an adequate, if not palatial, ten feet.)
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Like many buildings that predate the 1961 zoning code, 260 Madison couldn’t be built today. It’s stuffed with half a million square feet of interior space, about 80,000 more than the law allows. And yet every one of those square feet is the equivalent of a box of cash: no developer willingly throws one away. Accordingly, the architects slide the missing mass up a handful of floors, affixing a new structure onto the existing one. The result is a shape that turns more corners, captures more daylight, and sculpts a more varied form......


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Old Posted Sep 17, 2021, 7:56 PM
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I was just writing about 260 in the Macy’s thread. I pray that this odious PoS gets razed.
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Old Posted Sep 17, 2021, 8:09 PM
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Old Posted Sep 17, 2021, 8:52 PM
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Sapir is a total putz, so I'm not holding my breath. As per Sarah Palin, he put "lipstick on a pig" on his other vile PoS across the street at 261 Madison. Perhaps, he plans something equally lackluster here.
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Old Posted Sep 17, 2021, 9:58 PM
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he put "lipstick on a pig" on his other vile PoS across the street at 261 Madison. Perhaps, he plans something equally lackluster here.

You don’t have to go through ULURP for that. Maybe they will add some floors, or maybe tear down and build new. We will have to see.
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Old Posted Sep 17, 2021, 10:06 PM
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You don’t have to go through ULURP for that. Maybe they will add some floors, or maybe tear down and build new. We will have to see.
I really hope so. They could build a very tall residential/hotel here.
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Old Posted Sep 18, 2021, 12:44 AM
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I recall this recent move. Hopefully, the new tenant went bankrupt, and this odious building is virtually empty.

https://commercialobserver.com/2020/...or-demolition/
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Old Posted Sep 18, 2021, 3:01 AM
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Old Posted Sep 18, 2021, 4:38 AM
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12 years is a bummer.
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  #10  
Old Posted Sep 18, 2021, 5:30 AM
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12 years is a bummer.
Not necessarily. Leases can be bought out, and in this era of the pandemic, there could be a lot going on there. Either way, it’s gearing up for ULURP, which means plans are afoot for something sooner rather than later.
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Old Posted Sep 18, 2021, 11:01 AM
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Not necessarily. Leases can be bought out, and in this era of the pandemic, there could be a lot going on there. Either way, it’s gearing up for ULURP, which means plans are afoot for something sooner rather than later.
I guess that Sapir can also move the tenants to 261 Madison, the filthy piece of excrement that they own across the street. As vile as 261 is, it’s actually better than 260.

Last edited by JMKeynes; Sep 18, 2021 at 12:37 PM.
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Old Posted Sep 18, 2021, 11:09 AM
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Another vile PoS that I’ve long wanted to come down is 265 Madison which is one block north of Sapir’s modern Gahenna. Madison, south of 42nd St., has so many gorgeous old buildings, but Sapir’s trash, 265 Madison, and to a lesser degree, 280 Madison are the sole pieces of junk.



280 is the least odious of the aforementioned group, but it’s still not worthy of this great area.


Last edited by JMKeynes; Sep 18, 2021 at 12:22 PM.
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Old Posted Oct 6, 2021, 1:23 PM
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Does anyone know when this proposal is supposed to be presented to the City?



https://therealdeal.com/2021/10/05/d...=feature_posts

Last edited by JMKeynes; Oct 6, 2021 at 1:34 PM.
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Old Posted Oct 6, 2021, 6:18 PM
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^ Probably before the end of the year.
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Old Posted Oct 6, 2021, 6:52 PM
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^ Probably before the end of the year.
Thanks
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  #16  
Old Posted Dec 9, 2021, 6:37 PM
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This vile, odious, PoS appears on the website of this developer. Hopefully, it's a sign that it will be razed.

https://madisonmarquette.com/about/company-history/

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  #17  
Old Posted Jan 10, 2022, 1:29 PM
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I wonder what, if anything, is happening with this heinous piece of garbage.

I really wish that Sapir and Soloviev would liquidate everything in NY and "develop" only in Sunny Isles.

At a minimum, this piece of junk needs a new facade. The stained white brick looks disgusting.


Last edited by JMKeynes; Jan 10, 2022 at 2:31 PM.
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Old Posted Oct 18, 2022, 9:56 PM
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Sadly, this PoS isn’t going anywhere.

https://therealdeal.com/2022/10/18/m...adison-avenue/
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  #19  
Old Posted Jan 26, 2023, 8:01 PM
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Does anyone have a subscription? I'm curious what, if anything, Sapir has planned for this vile piece of garbage. Based upon the photo, it is discussed in this article.

https://therealdeal.com/2023/01/26/o...ecember-loans/


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  #20  
Old Posted Jan 26, 2023, 8:47 PM
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They haven’t publicly discussed any plans for these properties yet.


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Double trouble | $200M

The Sapir Organization refinanced 260 and 261 Madison Avenue, twin office towers in Midtown South totaling 900,000 square feet, with $200 million from JPMorgan Chase. The loan replaced expiring CMBS debt. Facing a deadline to refinance, Alex Sapir had been looking for a buyer to spend $600 million on the properties, which were 81 percent leased as of March, according to Moody’s Investors Service. The buildings have been the subject of litigation, including with WeWork founder Adam Neumann, who personally guaranteed leases there.

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Originally Posted by JMKeynes View Post
Does anyone have a subscription? I'm curious what, if anything, Sapir has planned for this vile piece of garbage. Based upon the photo, it is discussed in this article.

https://therealdeal.com/2023/01/26/o...ecember-loans/


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