NEW YORK | The Spiral (509 W. 34th) | 1,041 FT | 66 FLOORS

[ILNY]

^ That is actually bad news, its office tower so expect big high reduction. I am guessing 1200 -1300 ft max height.

[Zapatan]

Didn't we already know this "bad" news? Hopefully it somehow can be made taller than 400 meters

[Zapatan]

A 2.8 msf office tower will likely be at least as high as the WTC (2.6 msf I believe) but I'm not sure how wide/large the plot of land is

[NYguy]

Originally Posted by Blaze23

Tishman Speyer Buys Manhattan Site for $438 Million

http://online.wsj.com/news/articles/...453493756.html


The firm, controlled by the father-and-son team of Jerry and Rob Speyer, plans to build a 2.8-million-square-foot office tower on the site, which occupies a full block near several other huge projects that are under way.

"We think we're entering the sweet spot of office development in New York," said Rob Speyer.

The site—on 10th Ave. between West 34th St. and West 35th St.—consists of two separate parcels and currently is populated by parking lots and older, low-rise buildings. One parcel was owned by Sherwood Equities, the other by New York's Rosenthal family.

This push to build new office space has helped drive up land values. Sherwood bought its parcel for $8 million in 1986, and has invested only a few hundred thousand dollars in the properties since then, according to Jeffrey Katz, Sherwood's president.

Tishman Speyer is paying $200 million for that property. "This is one of the hottest markets for land I can remember. I've never seen an acceleration of price so fast," Mr. Katz said.

I knew it wouldn't stay on the market long. Don't know where the extra footage came from, but who cares. We're looking at a nearly 3 msf whopper. With Tishman Speyer, the site is now in very capable hands. They won't sit on it forever like Sherwood.

About that "sweet spot" of office development, that may be right. Things are moving forward at a faster rate than expected. By the city's estimates, it would be 30 years before the Hudson Yards is built out, but at the rate things seem to be moving, it could be half that. And it seems we are on a collision course. At the northern end of the Hudson Yards, we see a desire to switch commercial to residential, because the residential market is so hot right now. But the southern end of the Hudson Yards is the epicenter of new office development.

It's why I always say large sites that are zoned for office development should remain that. In a decade or so, the city could be looking at another situation where there are no large lots to build on. Due to the nature of the blocks around Grand Central, the lots for the eastside rezoning aren't as large, and as a result, the towers won't be as large, (unless De Blasio creates an even higher FAR for that area).

It would be a good problem for the city to have in the short term, but in the long term, there would have to be more options down the road.

Back to this tower though, I suspect Tishman will want to outdo Related, and build the signature tower of the Hudson Yards. I wouldn't rule out a mixed-use tower either. About the height, who knows. It could be anything at this point. We just don't know, and will have to see more of the plans.

[Crawford]

Great news. Would love to see a 3 million square foot tower by Tishman Speyer, and hope it's mixed-use, with residential on top.

[NYguy]

A little more on it...


http://www.streetinsider.com/Press+R...t/9425435.html

Tishman Speyer Acquires the Rights to Develop 2.85 Million Square Foot Tower in Manhattan's Hudson Yards District


April 30, 2014

Tishman Speyer, one of the world's leading developers, owners, operators and asset managers of first-class real estate, today announced the acquisition of adjacent, undeveloped parcels in the burgeoning Hudson Yards district of Midtown Manhattan.

The assembled development site, which was acquired in separate transactions, consists of a full block stretching from West 34th to West 35th Streets and from 10th Avenue to the to-be developed Hudson Park and Boulevard.

The assemblage, along with the ability to purchase additional development rights that are available to Hudson Yards district developers, offers Tishman Speyer the rare opportunity to develop and construct a 2.85 million square foot tower in the heart of Manhattan's expanded west side neighborhood and business district. While the new development could include a wide range of uses, the site's location and configuration are ideally suited to support a mix of offices and street-level retail.

"For several decades, Tishman Speyer has been one of the world's most active ground-up developers and investors, with projects currently being constructed or in the pipeline on four continents," said Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer. "We are very bullish on New York City and Hudson Yards, and found this to be the perfect time, development site and opportunity to participate in establishing Hudson Yards as the world's next great commercial district and neighborhood."

http://www.bizjournals.com/buffalo/p.../04/30/NY16124

Sherwood Equities Sells Hudson Yards Parcels to Tishman-Speyer For $200 Million;
Sites Were Acquired in Late '80s for $8.1 Million
Property Sales Yield Over $300 Million in Profits in Seven-Month Period


April 30, 2014

Manhattan-based owner/developer Sherwood Equities has sold multiple Hudson Yards parcels to Tishman-Speyer for $200 million, reports Jeffrey Katz, Sherwood president. The sites, situated at the southeast corner of West 34th Street and Hudson Yards Boulevard, and at West 35th Street and Tenth Avenue, were acquired by Sherwood in the late 1980s for $8.1 million.

The as-of-right sites will allow up to 960,000 square feet of floor area ratio (FAR). Taking into account additional entitlements the buyer can purchase from the city, the total acquisition price for Sherwood's parcels equates to approximately $340 per FAR square foot.

The properties, sold as part of an assemblage with a neighboring property owned by the Rosenthal family, will enable Tishman-Speyer to develop a 2.25 million-square-foot, full-square-block office building, which could become the tallest structure in the United States. Currently, the Sherwood sites contain a four-story industrial building and two smaller mixed-use structures.

...Sherwood continues to be very active on the West Side of Manhattan. The company is currently developing a high-end condominium project directly adjacent to the High Line, on a full block front, known as 500 West 21st Street, in West Chelsea, that it acquired in 2010. Sherwood also recently completed construction on 508 West 20th Street, a boutique retail gallery building adjacent to the High Line that is being used as a sales center for 500W21. In addition, Sherwood owns a substantial Hudson Yards property at West 36th Street and Tenth Avenue and intends to develop some 250,000 square feet of high-end residential tower. The firm purchased the site in 1991 for approximately $800,000.

"We remain exceedingly bullish about Manhattan's West Side, and especially the future of Hudson Yards, but large-scale office development is not part of our core business," says Mr. Katz.

The Sherwood executive says his firm is currently in negotiation to acquire additional property on the West Side.

[ILNY]

Originally Posted by NYguy

Back to this tower though, I suspect Tishman will want to outdo Related, and build the signature tower of the Hudson Yards. I wouldn't rule out a mixed-use tower either. About the height, who knows. It could be anything at this point. We just don't know, and will have to see more of the plans.

Do you think they can build something close to original proposal of 1800ft?

Originally Posted by Hypothalamus

New York YIMBY:

[Onn]

Good news!!! Hudson Yards is clearly in a development sweet spot right now! Can't wait to see what Tishman comes up with for the spaces! 2.8 million square feet is a lot!

[nyc15]

friends of skyscraperpage users imagine with 2.8 million square feet will be a megatall skyscraper ,with 1850ft the tall of the roof and 2150ft will be the tall of the top of that building maybe when we add the spire to get that height.
with hudson spire we can see clearly the end of empire state domination.

[Zapatan]

Originally Posted by nyc15

friends of skyscraperpage users imagine with 2.8 million square feet will be a megatall skyscraper ,with 1850ft the tall of the roof and 2150ft will be the tall of the top of that building maybe when we add the spire to get that height.
with hudson spire we can see clearly the end of empire state domination.

Dude, no

It'll probably be like 400 meters (1300+ feet) or so if we're lucky.

[NYguy]

Originally Posted by ILNY

Do you think they can build something close to original proposal of 1800ft?

They can build whatever they like. We don't know exactly what they will build, just that it will be almost 3 msf.



http://www.costar.com/News/Article/T...s-Tower/160107

Tishman Speyer to Develop Massive Hudson Yards Tower
Assemblage Sells for Total of $438M As Land Rush By Developers to Former Industrial Site Continues


By Randyl Drummer
April 30, 2014

The assemblage, along with the ability to purchase additional development rights, allows Tishman Speyer the right to build a 2.85 million-square-foot tower in Midtown Manhattan’s fast-expanding west side neighborhood and business district, the company said in a release. The so-called "Hudson Spire" could rank as one of the world's tallest buildings, rivaling towers in Dubai and Saudi Arabia.

"We are very bullish on New York City and Hudson Yards, and found this to be the perfect time, development site and opportunity to participate in establishing Hudson Yards as the world’s next great commercial district and neighborhood," said Tishman Speyer Co-Chief Executives Jerry Speyer and Rob Speyer.

http://commercialobserver.com/2014/0...far-west-side/

[Tectonic]

Hope they hire Zaha Hadid for the design.

[NYguy]

Originally Posted by Tectonic

Hope they hire Zaha Hadid for the design.

Whoever designs it, I hope it's one of those great designs that we can't wait to see built. Let this tower be the star it was meant to be.

[Zapatan]

"One of the worlds tallest buildings" they say, I like the sound of that

Could you imagine if both this and the Chicago spire were built? Awesome awesome stuff.

[Blaze23]

Originally Posted by Tectonic

Hope they hire Zaha Hadid for the design.

I second that, I hope they go Zaha Hadid or BIG, we haven't seen enough of them in the city.

[supertallchaser]

lets get stern on it and get a 1,800ft limestone monolith haha

[SkyscrapersOfNewYork]

Zaha Hadid, Rem Koolhaus, Gensler or KPF to design the sight. Fingers crossed.

[NYguy]

Originally Posted by SkyscrapersOfNewYork

Zaha Hadid, Rem Koolhaus, Gensler or KPF to design the sight. Fingers crossed.

I don't know about KPF though. They can do great work, but there's a lot on their Manhattan plate already. I would prefer they focus on getting 1 Vanderbilt right. But you could throw in some Foster (maybe). I get the feeling we'll end up with something from SOM though. Not that it would look bad. I loved their earlier design for the (Salesforce) tower...


http://www.sfgate.com/news/article/T...#photo-2676198

[Tectonic]

SOM also designed Manhattan West . $$$ will be a major factor so...I expect simple shape. Pelli would be a good 'conservative' design choice as well.


©tectonic

[Onn]

KPF would be a top choice for me. I do like their work and I'm glad they've kept a lot of it in New York City. They have not done anything in the 1,800 foot range yet. Gensler's a good idea. SOM would be find. Or Adrian Smith (as they have worked on the soon to be two of the world's tallest buildings, I still have faith they're going to deliver on 225 West 57th St.)