Checked recently and the original 45 Broad updates portal is also shuttered as well. Not even a website anymore, so that's not a good sign.
Indefinite hold until the market conditions improve.
Quote:
Originally Posted by Busy Bee
Not really adding much to conversation but since its been bumped I'll just reitterate what a kick to the nuts it's gonna be if this tower never comes to fruition. Truly a loss for Lower Manhattan.
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Something will eventually rise on this empty parcel, as we've also seen with Midtown where they sit vacant for years. And if need be, the owner of the parcel, if they feel they are not going anywhere, to not take the loss from any land cost expenses, because an owner of "X" parcel, even if it sits empty, still pays for it... they can always sell it to a party who will build something, even at a discount.
One of those development sites that will really depend on the market and when the conditions are right. As for the original 45 Broad design, again, market conditions, risk, and if its feasible to build at the time the owner seeks. Eventually, we will find out if the current version rises, is scrapped, or the parcel is sold or even downsized into something completely different so long as its within the zoning parameters.