NEW YORK | 41 West 57th Street | 1,100 FT | 63 FLOORS

[DeSelby]

At this point I'm beginning to wonder if they are going to try to purchase 58W58 as well. It's a drab turd of a 1970s apartment building begging for the wrecking ball. If they do they would create a very sizable lot for an even bigger supertall.

I was wondering the same thing about the "AKA Central Park Hotel" also on 58th (directly behind 31 W. 57th in NYGuy's last pic above). Some nice details but mostly forgettable. Seems like a good candidate for absorption into either this or the Vornado/LeFrak site (what's going on there anyway?)

Speaking of which, the only thing separating the Sedesco and Vornado sites will be a tiny but very attractive townhouse. Probably just fantasizing but they could potentially merge into one mega-site for a huge billionaire's row tower---one tall enough to leapfrog whatever gets built at the Park Lane to the North.

[NYguy]

Solow has been focused on other things, like bidding for a casino at the Con Ed site. But the Solow building, the centerpiece of the real estate empire, is right next door. I don't know if they would be willing to give up that property. Maybe for the right price. But if they could get the 58th Street property as well, it would make a nice developable footprint.

[NYguy]

BTW, Solow filed for demo of that smaller building just to the east. I can't recall if it's been demolished or not, but a reminder that it's a Vornado development that holds the other large lot next to the Solow Building. Some posts from that thread...

https://nypost.com/2020/11/15/develo...-avenue-tower/

By Steve Cuozzo
November 15, 2020


Curious doings are afoot at two of Sheldon Solow’s West 57th Street properties between Fifth and Sixth avenues, a block he increasingly dominates with his signature 9 West tower and new developments on both sides of the street.

At four-story 35 W. 57th, which he’s owned for decades, he’s booted two small kosher restaurants he wanted to evict over supposed insurance violations. The Great American Health Bar and Café Classico are gone and boarded up.

The site might be too small for a large new building. But it’s adjacent to a big empty lot — once home to the Rizzoli bookstore — owned by a Vornado-Lefrak joint venture. Now that No. 35 is vacant, Solow could easily sell it to the JV to create an even larger development site.

Or it could hint at a future Solow buyout of Vornado and Lefrak so he could put up another giant tower of his own. Far-fetched, but stranger things have happened.



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

[DeSelby]

So do I have this straight? Going from East to West along the N side of W 57th it goes: Solow Building (Solow) ---> empty Vornado/LeFrak lot ---> Solow-owned townhouse (possibly demo'd) ---> Sedesco site? Kinda confusing.

[NYguy]

Originally Posted by DeSelby

So do I have this straight? Going from East to West along the N side of W 57th it goes: Solow Building (Solow) ---> empty Vornado/LeFrak lot ---> Solow-owned townhouse (possibly demo'd) ---> Sedesco site? Kinda confusing.

That's exactly right. Vornado made too much money from 220 Central Park South I think to willingly give up that site. Unless the price was right of course. But as I recall, they were planning a high end hotel. So who knows what they will do.

[Zapatan]

Hmm, so this could be bigger and taller? Or maybe more than one tower?

Interesting prospects and about time to do something with this land.

[chris08876]

Sedesco files demo plans for Billionaires’ Row supertall
Developer’s recent assemblage addition at 37 West 57th Street on chopping block

JUN 5, 2023

Sedesco’s supertall is coming into focus as the developer filed plans for the demolition of a recent addition to its Billionaires’ Row assemblage.

The New York-based developer filed plans to demolish the 13-story building at 37 West 57th Street, Crain’s reported. The building at the site stands 150 feet tall and spans 70,000 square feet.

The Class B office property has been in Sedesco’s portfolio for mere weeks after it purchased the property in April for $77.5 million, but never seemed intent on keeping it an office. Instead, it served as a way to add space to the supertall Sedesco is planning, adding 58 feet of frontage on West 57th Street.

Demir Sabanci’s firm has spent a decade trying to pull its assemblage together. In 2012, Sedesco acquired 50 West 58th Street for $71.5 million. In 2018, it bought 41 West 57th Street for $80 million.

The end goal is a 63-story supertall at 41-47 West 57th Street. Designed by OMA’s Rem Koolhaas, the property is slated to include a mix of hotel, retail and residential space. The skyscraper is expected to rise 1,100 feet with 119 residences, 158 hotel rooms, 237,000 square feet of residential space and 206,000 square feet of commercial space. There will also be roughly 10,000 square feet for a restaurant.

In 2021, Sedesco received approval for its 57th Street zoning through the city’s Zoning for Accessibility program. The developer is building two ADA-accessible elevators at the southwest corner of West 56th Street and Sixth Avenue, which will provide access to the 57th Street station serviced by the F line.

The deal allowed Sedesco to add 52,000 square feet to its project.

The subway improvements are already underway and expected to be completed next year. As a whole, the supertall is expected to be completed in 2026 and construction is already underway.

=================
https://therealdeal.com/new-york/202...row-supertall/

[NYguy]

The deal allowed Sedesco to add 52,000 square feet to its project.

The subway improvements are already underway and expected to be completed next year. As a whole, the supertall is expected to be completed in 2026 and construction is already underway.

I don’t know that construction is underway. Somebody fact check that, lol. But I’m ready for this tower to move forward and takes its place among the supertalls. Then the others in the area in the planning stages can follow.

[The New York Lion]

I bet this building will end up being 1,300-1,400' when updated plans/renderings come out.

That addition of 200,000 sq feet is significant.

That's about 12 floors.

[Crawford]

Yeah, I hope this additional building really boosts the assemblage. The original assemblage called for an 1,100 ft. tower, so one would think this would be at least 1,300 ft. now, which should be minimally sufficient to fit in with the other Billionaire's Row spires.

[Busy Bee]

Dear gods of real estate... Is Tower 58 too much to ask for? If there's ever been a hideous forlorn midcentury highrise begging for redevelopment it's that one. The 57th St frontage is now about 175 feet. With that acquisition the 58th St frontage would be about equal to that. They could also try to acquire 40-48 58th St or the "AKA Central Park" which has a nice handsome base but is otherwise underwhelming and comically underutilized for its location. Is there any information they are trying to purchase either one?

Either way, we're looking at a substantial building here. No slender profile thank you very much. We need some meat here. The 57th St frontage is already 3.5 times as wide as 111W57.

It would also be awesome if they acquired the beautiful 35 W 57th (Bowne Mansion) and incorporated it into the base somehow.

[The New York Lion]

Originally Posted by Busy Bee

Dear gods of real estate... Is Tower 58 too much to ask for? If there's ever been a hideous forlorn midcentury highrise begging for redevelopment it's that one. The 57th St frontage is now about 175 feet. With that acquisition the 58th St frontage would be about equal to that. They could also try to acquire 40-48 58th St or the "AKA Central Park" which has a nice handsome base but is otherwise underwhelming and comically underutilized for its location. Is there any information they are trying to purchase either one?

Either way, we're looking at a substantial building here. No slender profile thank you very much. We need some meat here. The 57th St frontage is already 3.5 times as wide as 111W57.

It would also be awesome if they acquired the beautiful 35 W 57th and incorporated it into the base somehow.

If the developers acquire Tower 58 or AKA Central Park, then we're looking at a new tallest building in The City.

An additional 200,000 sq feet from Tower 58 or AKA Central Park would add 20+/- more floors to the building.

You're looking at a 1,600-1,700' tall building.

I am not sure how much square footage 40-48 West 58th has, if they were to acquire it.

Make no mistake: the units would sell.

If they acquire both, we could see a 2,000 footer.

[chris08876]

I'm hoping the potential success with this will kickstart another tall residential boom. I sort of see this type of development as a barometer of the situation. NY RE is slowly warming up again. I mean its still on-going, not to say it isn't but we are not at the feverish rate that it use to be pre-Covid.

The potential for residential conversions is high considering how much space is up for lease and the shrinking office values that in theory could happen due to WFH. Lots of housing potential! Were still looking at a 50-55 percent office occupancy rate. Hopefully it will climb in the future.

[NYguy]

Originally Posted by chris08876

I'm hoping the potential success with this will kickstart another tall residential boom. I sort of see this type of development as a barometer of the situation. NY RE is slowly warming up again. I mean its still on-going, not to say it isn't but we are not at the feverish rate that it use to be pre-Covid.

Even without covid, we had to expect that things would cool down brfore heating up again. Once a plan is finalized for this site, it should be primed to move forward.

[Zapatan]

I think they should try to top Central Park Tower, go big or go home.

In the case it does end up 1,250 - 1,400 feet that would be amazing but I fear it would create a bit of a plateau effect with the existing towers.

I just hope the design remains as beautiful.

[NYguy]

Originally Posted by JohnMarlborough

Since the building that they just acquired contains only 70k sf, I can’t imagine that this will be much taller than they originally planned.

That just means that’s how much space that building contains. The real number to consider is how much additional space comes from that lot. The building may increase in height, but a larger footprint also could allow for larger floorplates. During the approval process, the additional space granted didn’t go towards height. That’s why it was going to be 1,100 ft either way.

I should point out that it could be an entirely different design, and any design could and should account for views a potential Park Lane tower would block.

[NYguy]

Originally Posted by JohnMarlborough

That makes sense. I wonder how much extra sf the lot contains.

It would be the size of the lot, multiplied by whatever the FAR is for that site.


Here's a graphic showing how the earlier distribution of extra space was placed...







The increase in the footprint could alter the placement of the core, leading to a different design...


As is...





Lot to the east to be added to footprint...

[Busy Bee]

I may be in the minority here but I would actually prefer the tower not grow much taller or at all in height. In my opinion there needs to be some beef in the 57 St supertall ensemble and I would actually prefer a bulkier tower that offset the generating-station-chimney profile of 111W57. I also think the current height doesn't completely overwhelm 9 W 57 but an additional 400 feet very well may. The Solow Building is just under 700 feet. 1.5 times the height would be the most flattering - anything taller starts to create awkward proportion "play." Again, just my opinion.

[colemonkee]

I agree, and this one will be in line height wise with One57.

[NYguy]

Originally Posted by Busy Bee

I may be in the minority here but I would actually prefer the tower not grow much taller or at all in height. In my opinion there needs to be some beef in the 57 St supertall ensemble and I would actually prefer a bulkier tower that offset the generating-station-chimney profile of 111W57. I also think the current height doesn't completely overwhelm 9 W 57 but an additional 400 feet very well may. The Solow Building is just under 700 feet. 1.5 times the height would be the most flattering - anything taller starts to create awkward proportion "play." Again, just my opinion.

This is not gonna be a bulky tower, any way you look at it. If anything, there would be “infill” to the interior spaces, like shown below.







Another factor would be the placement of the core, and the relationship with the Park Lane Hotel, which will be redeveloped with it’s own condo tower. We see how that played a factor in the design of the CPT and 220 Central Park South.