NEW YORK | 8 Carlisle (111 Washington) | 820 FT | 64 FLOORS

[Crawford]

Originally Posted by Eveningsong

Well I live in the NYC metro area and that is as far as I'll go. I think those tenements are not unique and should be razed.
Also what's wrong with Houston? I've never been for your info.

Those buildings aren't unique, but they're the critical fabric of the city that makes NYC different from every other U.S. city.

If you got rid of those buildings, you would basically be suburbanizing the city, and killing the whole reason NYC is so unique and desirable in the first place.

[De Minimis NY]

I couldn't agree more with Crawford.

It's become increasingly obvious that NY isn't going to hold the title for the world's tallest building going into the furture and eventually many emerging market cities are going to catch up with respect to general density as well. The one thing that NY will always have (assuming we protect buildings like that), though, is a legacy of certain types of buildings that you can't find to the same degree anywhere else in the world.

I remember being a kid and going to certain European cities and wishing that NY was a bit older so that we would have been in an economic position to build more stuff on par with Parisian baroque architecture back when things like that were still being built. At the time I didn't see older NY buildings as having that kind of importance. As massive glass towers become the norm in dozens of cities around the world, though, these kinds of classic NY buildings are going to take on new value. I imagine/hope that children visiting NY from Shenzhen in years to come will feel much the way about tenements in NYC as I did about the streets of Amsterdam or Vienna.

[NYguy]

Enough people....

None of this is related to the discussion. If you want to talke cities around the nation and the world, there's a proper area of the forum to do so. I don't want to have to clean up a mess.

[ILNY]

[Perklol]

Originally Posted by NYguy

http://www.crainsnewyork.com/article...-princely-260m

Downtown lot hits market at a princely $260M
At $700 per buildable square foot, the price would mark a new high for a residential development site in lower Manhattan, shattering the current record set just eight months ago by 17%.





Daniel Geiger
March 10, 2014

Hmm I was thinking about the price and it seems a bit far-fetched, no? I mean take a look at Extell's 220. The land and air rights went for $194 million which is fair considering what you can build there (ultra rich condo) but what can you build here (111 W.) that justifies $260 million? I could understand if it was another parcel near CPS but there's not much around here that could command such a steep price.

[NYguy]

Originally Posted by Eveningsong

Hmm I was thinking about the price and it seems a bit far-fetched, no? I mean take a look at Extell's 220. The land and air rights went for $194 million which is fair considering what you can build there (ultra rich condo) but what can you build here (111 W.) that justifies $260 million? I could understand if it was another parcel near CPS but there's not much around here that could command such a steep price.

Land Downtown is even more precious, an assemblage to build that amount of space would be worth it, depending on what gets built there.

.....about 362,000 square feet of residential or mixed use space can now be built on the site, which is at the corner of Washington and Carlisle streets.

If the property garners $260 million, it would translate into more than $700 per square foot, 17% more than a previous record for a residential development site in lower Manhattan set just eight months ago. That deal was for 101 Murray St., which developers Steven Witkoff, Howard Lorber and Fisher Brothers bought in July 2013, paying about $223 million. That site can accommodate slightly more space than 111 Washington St., 370,000 square feet, making its price per buildable square foot around $600.

[NYguy]

More on the sale...


http://www.masseyknakal.com/listings...aspx?lst=22748


111 Washington Street
New York, NY 10006
Financial District, New York, New York 10006
$260,000,000

The subject property is an approximately 362,300 square foot development site located on the corner of Washington and Carlisle Streets in the heart of Lower Manhattan. 111 Washington Street represents an ideal development opportunity with 137’ of frontage on Washington Street and 98’ of frontage on Carlisle Street.

The site features a lot area of approximately 11,206 square feet. Due to the air-rights that have been acquired from several adjacent parcels the total buildable square footage is calculated based on a combined lot area of approximately 28,021 square feet. The flexible C6-9 zoning designation allows for residential, hotel, retail and office development. Additionally, the site has no height restriction therefore a future development will be able to capitalize on expansive harbor and city views. The total development site consists of the parcels located at 111 and 105 Washington Street and air-rights from 109 Washington Street along with 102-104, 106, and 108 Greenwich Street.

The Lower Manhattan sub-market has reemerged as one of the most sought after areas of the city due to a multitude of recent developments. The redevelopment of One World Trade Center and creation of the new Fulton Street Transit Hub along with Brookfield Place will positively impact future commercial, retail, and hospitality progression. Tourism growth has reached new levels in Lower Manhattan and is only expected to increase as additional developments reach completion in the coming years.

Furthermore, the property is easily accessible through public transportation. The 1 and R trains are located two blocks south on the corner of Rector Street and Greenwich Street. Additionally, the 4 and 5 trains are just 4 blocks to the east on Wall Street. The development site at 111 Washington Street presents the chance to make a lasting impression on the New York City skyline in a flourishing section of Downtown Manhattan just two blocks south of the World Trade Center.

Lot Dimensions: 137 x 98

Lot Sq Ft: 11,206

Buildable Sq. Ft: 362,301

[Lecom]

A quick overview

• Video Link

[JayPro]

I'm digging the peak level cantilever over what looks like a section for the mech floors.
That angled podium looks as if more can be done with it.
This is a section of downtown that can use a bit more blue glass; so if nothing much designwise happens even beynd this early stage, I'll be happy.
Of course, there being no height limit is a good thing, too...what with 125G and 50W nearby. It depends on how the architects of record run with it, I guess.
Interesting developments along those lines are welcome.

[Perklol]

Someone on Curbed said "they can keep on dreaming" and that is true to some extent.

A prime Midtown spot with CP views could command that much but here? Let's just say that Shvo will test that market for the first time.

[Crawford]

Originally Posted by Eveningsong

Someone on Curbed said "they can keep on dreaming" and that is true to some extent.

A prime Midtown spot with CP views could command that much but here? Let's just say that Shvo will test that market for the first time.

There's no reference to the unit prices, anywhere, nor does Shvo have anything to do with this site.

The tower site is being sold, so obviously no one knows the prices before they even have a developer and plan.

We don't even know the design. A new developer will build whatever he wants within the allowable buildable area. My guess, given everything else going up in Manhattan, is that it will be very tall and skinny, with very high floor heights (no height limits on this site) but we'll have to wait and see.

[NYguy]

Originally Posted by Eveningsong

Someone on Curbed said "they can keep on dreaming" and that is true to some extent.

A prime Midtown spot with CP views could command that much but here? Let's just say that Shvo will test that market for the first time.

I wouldn't go around quoting those people who comment on any an everything at curbed.com. They aren't exactly known as voices of reason and common sense.

That being said, of course the market will be tested. Why shouldn't it?

Wouldn't surprise me at all if someone wanted to build something similar here. Whether it could all get built at the same time is the question, but there's no reason it has to be.

[Perklol]

^^ So true. Thanks for the tip.

We'll just wait and see the prices to get an idea of whom these apartments are targeted for.

[NYguy]

http://therealdeal.com/blog/2014/12/...ry-fidi-tower/

Pink Stone moving ahead with 51-story FiDi tower
Building will have three floors of retail, most likely be a rental





December 12, 2014
By Rich Bockmann

Richard Ohebshalom’s Pink Stone Capital is moving along with a 51-story, 429-unit tower in the Financial District that seems destined to be a residential rental building, according an application filed today with the Department of Buildings.

The Midtown-based developer, which purchased a distressed note in 2011 to acquire the development site at 111 Washington Street, will build a 306-foot, mixed-use tower. At the time, the tower was expected to be 54 stories tall, as The Real Deal reported. The application shows the 334,107-square-foot tower will house three floors of retail and 429 units. Gary Handel is the architect of record.

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01

Building Height (ft.): 306
Building Stories: 51
Dwelling Units: 429

[sparkling]

51 stories and 306 ft only?

[Hudson11]

Originally Posted by sparkling

51 stories and 306 ft only?

306 ft to the highest occupied floor, but even that seems a bit off...

[SD_Phil]

Nope. Doesn't make any sense any way you spin it.

That works out to six feet per floor. That's probably illegal. Even at the (still low) assumption of 10 feet per floor and the further assumption that 51 stories is a rough "number" based on the height of the total structure...that would leave a 200 foot crown (which also doesn't make any any sense).

Something has gone wrong.

[scalziand]

Whelp, that's a tower for ants alright.

[McSky]

Hobbit Tower!

[hunser]

It happens that DOB data is wrong. This is most likely over 600 feet.