NEW YORK | 350 Park Avenue | 1,600 FT | 62 FLOORS

NYguy · #1 Posted **Apr 9, 2018, 6:57 PM**

Looks like 350 Park Avenue could be next in line for a major overhaul or demolition...

https://commercialobserver.com/2018/...-plaza-towers/

Quote:

Vornado Realty Trust Chairman Steven Roth just revealed that his firm has reached a tentative deal to sell its 49.5 percent stake in 666 Fifth Avenue....

...Finally, he dropped a hint that Vornado’s 350 Park Avenue could be dramatically expanded or torn down. The 58-year-old, Emery Roth & Sons-designed tower between East 51st and 52nd Streets is well-positioned to take advantage of the new floor area and zoning incentives created by the Midtown East rezoning...

http://www.loopnet.com/Listing/350-P...rk-NY/6539238/

Reading Tom

Crawford · #2 Posted **Apr 9, 2018, 6:59 PM**

Hopefully this will be the next Park Ave. supertall office tower.

This site deserves a much better tower than the current mediocre bore.

NYguy · #3 Posted **Apr 9, 2018, 7:01 PM**

I don't know how big that footprint is. But I could see something more modern, like 425 Park.

chris08876 · #4 Posted **Apr 9, 2018, 7:46 PM**

Excellent. I was hoping this tower would bite the dust. Kinda a blight on the area. LA TOWER REVOLUCION!

Hudson11 · #5 Posted **Apr 9, 2018, 8:01 PM**

these wedding cake esque modernist buildings are the ones I'd like to see replaced rather than the towering International style skyscrapers.

NYguy · #6 Posted **Apr 9, 2018, 10:06 PM**

I'm no fan of this building. But the wedding-style towers are more uniquely NY than the others.

The tower just south of this one(320 Park) was redeveloped years ago.

http://bestmanhattanoffices.com/prop...0-park-avenue/

Quote:

320 Park Avenue was originally designed by Emery Roth & Sons in 1960. In 1995, a Swanke Hayden Connell-led redesign expanded the 35-story tower’s square footage to 730,000 square feet.

https://www.nytimes.com/1993/11/14/r...ld-zoning.html

Building's New Look Shaped by Old Zoning

By DAVID W. DUNLAP

Quote:

Since 320 Park Avenue was constructed just months ahead of the 1961 Zoning Resolution, it has about one and a half times as much floor space as would be allowed in a new building on the same site, making it well worth an owner's while to rebuild it rather than replace it. Mutual plans to occupy 10 floors and lease the rest when the building reopens in the spring of 1995.

In the redesign by Swanke Hayden Connell Architects, the most obvious change to the flat-topped tower between 50th and 51st Streets will be the addition of a 52-foot-high gabled peak, which is to cover the rooftop mechanical equipment.

...Ungainly though it may be, 320 Park Avenue has 626,000 square feet of space. Under current zoning, a new building on the same lot could have about 441,000 square feet. In other words, Mutual effectively gets 185,000 square feet more than it would were it to start from scratch.

Thanks to the rezoning, it makes more sense to start from scratch if you can. Hopefully Vornado will just build a new tower on the site.

chris08876 · #7 Posted **Apr 9, 2018, 10:32 PM**

In the above shot, you'd almost think that from a super tall tower perspective, the base itself is fine, and that possibly a partial demo of everything past the base would occur. Using that existing base, modify it, and use it as the springboard for a much taller tower.

Quote:

...Ungainly though it may be, 320 Park Avenue has 626,000 square feet of space. Under current zoning, a new building on the same lot could have about 441,000 square feet. In other words, Mutual effectively gets 185,000 square feet more than it would were it to start from scratch.

NYguy · #8 Posted **Apr 9, 2018, 10:59 PM**

Quote from Steven Roth...

Looking forward to what they come up with.

NYguy · #9 Posted **May 3, 2019, 9:27 PM**

Wow indeed. Vornado talked about this oppurtunity last year...

Quote:

Originally Posted by NYguy

Quote from Steven Roth...

Looking forward to what they come up with.

They didn't disappoint. Meanwhile, not everyone is ready to move forward on the redevelopment front...

https://www.crainsnewyork.com/real-e...-anchor-tenant

Tishman scraps redevelopment plan to hold on to anchor tenant

May 3, 2019
by Daniel Geiger

Quote:

To retain an anchor tenant, the owner of a Midtown East building has abandoned its plans to take advantage of the neighborhood's recent rezoning to redevelop the spire.

Consumer products giant Colgate-Palmolive announced today that it has renewed about 242,000 square feet at 300 Park Ave. for its global headquarters. Tishman Speyer owns the building.

Colgate-Palmolive had been leasing about 312,000 square feet at the building, according to the real estate database CoStar, for a term that stretched until 2023. The new lease extends its occupancy by at least a decade beyond that expiration point while reducing the company's footprint, a source familiar with the transaction said.

Quote:

Tishman Speyer had been inserting demolition clauses into leases it signed with tenants at the 26-story tower in recent years to allow it to push them out in case it decided to raze the 770,000-square-foot property and use the Midtown East rezoning plan to erect a bigger, state-of-the-art skyscraper in its place. After Colgate-Palmolive objected to the inclusion of such a clause, however, Tishman Speyer forfeited it in order to secure the deal.

Although Park Avenue is considered one of the city's prime corporate office corridors, several of its large tenants have departed in recent years.

The neighborhood has received strong signs of interest, including JP Morgan Chase's decision to remain and redevelop its headquarters at 270 Park Ave., but the deal with Colgate-Palmolive demonstrates how reluctant landlords are to lose additional major office users.

KevinFromTexas · #10 Posted **Apr 9, 2018, 11:27 PM**

Isn't this the building Elaine worked in on Seinfeld?

I don't know. I think I'd rather see the dull international boxes replaced than these uniquely New Yorkers. You can see international boxes in almost every city, but these wedding cake towers are almost exclusive to New York.

Also, if one of these older designs is going to be expanded and have its design altered so that it's unrecognizable from its original style, then you might as well just demo it and build something new.

By the way, I am not a fan of 425 Park. That one looks like a 400 foot design waiting to be redeveloped. It's such a mediocre building. The only thing it has going for it is the height, and that's not exactly a good thing.

NYguy · #11 Posted **Apr 9, 2018, 11:29 PM**

^ I agree about the wedding-style boxes. Not sure about Elaine though.

patriotizzy · #12 Posted **Apr 10, 2018, 9:15 PM**

Quote:

Originally Posted by KevinFromTexas

Isn't this the building Elaine worked in on Seinfeld?

I don't know. I think I'd rather see the dull international boxes replaced than these uniquely New Yorkers. You can see international boxes in almost every city, but these wedding cake towers are almost exclusive to New York.

Also, if one of these older designs is going to be expanded and have its design altered so that it's unrecognizable from its original style, then you might as well just demo it and build something new.

By the way, I am not a fan of 425 Park. That one looks like a 400 foot design waiting to be redeveloped. It's such a mediocre building. The only thing it has going for it is the height, and that's not exactly a good thing.

I would also +1 regarding wedding cakes. Large slabs get my first personal axe before cool setbacks.

Busy Bee · #13 Posted **Apr 10, 2018, 1:12 AM**

For the record Pendant Publishing was supposed to be at 600 Madison Ave.

NYguy · #14 Posted **Apr 10, 2018, 10:10 PM**

Quote:

Originally Posted by Busy Bee

For the record Pendant Publishing was supposed to be at 600 Madison Ave.

Here's that one.

https://www.emporis.com/buildings/11...rk-city-ny-usa

350 Park for comparison...

https://www.vno.com/office/property/...311665/landing

Submariner · #15 Posted **Apr 10, 2018, 9:23 PM**

Exciting news. A 1000+ footer with a large, airy base would be great.

chris08876 · #16 Posted **Apr 10, 2018, 9:33 PM**

Quote:

Originally Posted by Submariner

Exciting news. A 1000+ footer with a large, airy base would be great.

Or even a remake of the actual original tower, only taller, with a more modern face and an emphasis on a stellar crow. The design potential for 350 Park was never realized. In theory, it could be a stellar tower, just needs some work on it IMO.

Submariner · #17 Posted **Apr 11, 2018, 1:11 AM**

Imagine if they bought the BlackRock building behind it and made a massive land assembly.

NYguy · #18 Posted **Apr 12, 2018, 8:44 PM**

I think with the size of the footprint, maybe we are pushing 900 ft, maybe just even a supertall, but I wouldn't expect a supertall at this site. I wouldn't be shocked, but wouldn't expect a tower to be as high as that.

Ryan Budhu

Gary Burke

Crawford · #19 Posted **Apr 13, 2018, 3:33 PM**

Quote:

Originally Posted by Submariner

Imagine if they bought the BlackRock building behind it and made a massive land assembly.

BlackRock has been on a hiring binge the last few years and must be bursting out of their HQ. They're now the world's largest asset manager.

I could see them anchoring one of these new Midtown East towers.

JMKeynes · #20 Posted **Apr 13, 2018, 6:25 PM**

Quote:

Originally Posted by Crawford

BlackRock has been on a hiring binge the last few years and must be bursting out of their HQ. They're now the world's largest asset manager.

I could see them anchoring one of these new Midtown East towers.

Black Rock is the anchor for 50 HY.

Its current HQ near Park will be largely vacant. I think it would be a nice canvass for a supertall condo.