NEW YORK | 80 South Street | 1,436 FT | 113 FLOORS

[JDRCRASH]

Originally Posted by NYguy

As we've been discussing for the past few years, 80 South Street will be built. The question is who will do the building. Oceanwide has already put this property up for sale, but now even that is up for question.

Yeah there is no way this piece of prime real estate on the Lower Manhattan waterfront doesn't get a buyer willing to put up something north of 1,000 ft, even if Oceanwide isn't the one who ends up doing it.

[NYguy]

Yeah, we’re talking north of 1 msf. For residential, that’s huge. Not many oppurtunities for that in Manhattan.

[Raysiri]

I guess this building is dead for now… Dropping out so many awesome skyscrapers, like why?

[Sky88]

Originally Posted by Raysiri

I guess this building is dead for now… Dropping out so many awesome skyscrapers, like why?

No, we cannot consider the project dead, but only on stand by, as the property does not yet have what to do with the project, for now.

[NYguy]

https://therealdeal.com/2021/10/21/c...e-at-big-loss/

Chinese developer willing to sell Manhattan supertall site at big loss





BY RICH BOCKMANN
OCT 21, 2021

As the Evergrande crisis continues to unfold in China, one of the country’s largest companies is trying to unload a pricey Manhattan development site — and willing to swallow a big loss.

Oceanwide Holdings is looking to sell its development site at the South Street Seaport, where plans for a supertall luxury skyscraper have languished for several years.

The developer is seeking to get about $200 million for 80 South Street, sources familiar with the offering told The Real Deal. That’s a significant break from the $390 million Oceanwide paid for the property in 2016, when Chinese capital was rushing into the United States.

Since then, Oceanwide has struggled with billions of dollars in investments stateside and is on the verge of being crushed by a mountain of debt. All the while, the Evergrande Group’s $300 billion credit crisis is threatening China’s economy.

A representative for Oceanwide could not be immediately reached.

[MAC123]

Originally Posted by NYguy

https://therealdeal.com/2021/10/21/c...e-at-big-loss/

Chinese developer willing to sell Manhattan supertall site at big loss





BY RICH BOCKMANN
OCT 21, 2021

Something tall will rise here, but it'll be a few years from now.

[Busy Bee]

I'm not upset about the final death of 80 South. I always felt like it had the potential to totally f*** up the balance of the Lower Manhattan skyline. I'd actually be perfectly fine with something in the 800' range.

[Sky88]

Maybe Stern might be interested? I hope...

[Zapatan]

Originally Posted by Busy Bee

I'm not upset about the final death of 80 South. I always felt like it had the potential to totally f*** up the balance of the Lower Manhattan skyline. I'd actually be perfectly fine with something in the 800' range.

Doesn't something that tall still have potential to rise here?

I would love to see something higher than 1WTC (roof) downtown

[Busy Bee]

I've always felt uncomfortable with that kind of sheer height sitting right on the river's edge. I just think it would jack up the gracefulness of the skyline in a truly unflattering way. Sort of like how 111W57 looks like a 1400' beanpole from the north and south.

[SkyHigher]

Originally Posted by Busy Bee

I'm not upset about the final death of 80 South. I always felt like it had the potential to totally f*** up the balance of the Lower Manhattan skyline. I'd actually be perfectly fine with something in the 800' range.

Agreed. It's a nice tower but not here. Though even if it went down to say 700-800ft it would still have huge prominence and not ruin the skyline balance.

Same with 262 Fifth Ave. Nice tower just too tall and too close to ESB.

[Zapatan]

We got some NIMBYs on here, lol jk but seriously 7-800 feet would be really lame by NYC standards.

I think another 400+ meter building would compliment the WTC well.

[Raysiri]

So that means it will never get built and then canceled?

[Busy Bee]

Originally Posted by Zapatan

We got some NIMBYs on here, lol jk but seriously 7-800 feet would be really lame by NYC standards.

I think another 400+ meter building would compliment the WTC well.

My reluctance with that kind of height has everything to do with its exact specific location right on the waterfront and its potential to take away from the stepped-up beauty of the LM skyline and nothing else. Its for the same reason I would hope no one proposed a megatall directly on Central Park South.

[JMKeynes]

Originally Posted by Raysiri

So that means it will never get built and then canceled?

Something will rise there, but I doubt that it will be anything so lavish. Condos in this area would sell for less money, so I doubt that the costs for building a 1,300'+ tower are sustainable.

[NYguy]

Originally Posted by Busy Bee

I'm not upset about the final death of 80 South. I always felt like it had the potential to totally f*** up the balance of the Lower Manhattan skyline. I'd actually be perfectly fine with something in the 800' range.

The project is in no way dead or canceled, it’s being sold to another developer, just as it was sold to Oceanwide, who was not the developer to put the pieces in place to build this tower. Unfortunately, they are having major problems, and will have to pass it on to another developer who will get it built. That’s the way it works in the real estate game in the city, and we see it over and over.

As far as the height, it’s as tall as it is because of the specific programming on that small site. Now, unless the next developer plans to sell half the air rights to another site nearby (where at in the Seaport district can you build as tall as-of-right without getting hacked to death like 250 Water St?), it will be built, and every ounce of development rights used.

[Busy Bee]

I'll believe it when I see it

[NYguy]

Originally Posted by Busy Bee

I'll believe it when I see it

What is it to see? You think in New York, where every piece of real estate is in play, a site of this magnitude will go unbuilt? Remember, there are still stalled sites that have yet to be built (45 Broad for example), but that doesn’t mean they won’t be. We’ve seen it time and again. If everything we’ve seen in the city hasn’t convinced you that towers eventually get built, (especially towers that need no approvals process), then I guess you won’t be convinced. Just stick around.

[DCReid]

Originally Posted by NYguy

What is it to see? You think in New York, where every piece of real estate is in play, a site of this magnitude will go unbuilt? Remember, there are still stalled sites that have yet to be built (45 Broad for example), but that doesn’t mean they won’t be. We’ve seen it time and again. If everything we’ve seen in the city hasn’t convinced you that towers eventually get built, (especially towers that need no approvals process), then I guess you won’t be convinced. Just stick around.

Seems like downtown Manhattan is not as desirable right now for residential construction. Two of the projects are stalled and 45 Broad is delayed. I don't think this one will see the light of day.

[manchester united]

I hope that the height and ABOVE ALL the 113 real floors will be confirmed.