Times Square Plaza - 11 Times Square - 42nd St @ 8th Ave - by FX Fowle Architects

[londonlawyer]

How is the Intercontinental across the street from this coming along?

[BrooklynRider]

Very nice photos, NYCBoy212. I can't recall many black & white photos of this building being posted.

************************************************** *****

Let's keep the discussion of the new InterContinental Hotel here (http://http://wirednewyork.com/forum/showthread.php?t=15110).

Cheers-

[NYCboy1212]

^^^Thanx

[MidtownGuy]

http://farm4.static.flickr.com/3595/3505337901_1c53c9917a_o.jpg

[NoyokA]

This building proves flashy can be done right and doesn't necessarily have to be tacky or gimicky.

[BKALLDAY]

I am an old fashion newyorker......I love teh building but really wish it was taller..........it looks like the liitle child of the majestic towering NY Times building

[lofter1]

A walk around from Monday afternoon ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_01.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_02.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_03.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_04.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_05.jpg

Reflecting the construction at the Intercontinental Hotel up Eighth ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_07.jpg

And the spire of the ESB to the SE ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_09.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_06.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_08.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_10.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_11.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_12.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_13.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/11TSP_090518_14.jpg

11 TS

[BrooklynRider]

Speculation can now turn to super-signage. What are we going to see? The signange on the Westin started at "Spectacular" level and has steadily declined.

[lofter1]

At many spots around TS we've fallen to the point where large spreads of illuminated vinyl have taken the place of neon, LED's etc.

Hope they use the globe atop the setback on the corner of Eighth / W 42 as shown in the renders. Cover it with LEDs and make it spin.

Stop with the vinyl already.

[Ed007Toronto]

The ad business is in a major free fall right now. Be happy with what you're getting.

[lofter1]

Oh, OK :confused:

i'll take the nice exposed reflective glass over an acreage of vinyl -- or blank sign boards.

[Prometheus]

Hi -I'm a newbie, but wanted to pass along the contents of a June 4 Wall Street Journal article about 11 Times Square. The Springfield, MO police and fireman's pension fund invested their entire real estate allocation ($12 million) into this building, anticipating a 19% return. They invested their entire real estate allocation into a single building (dumb move IMHO) because they were under pressure to boost returns and offset an underfunding situation.

The article mentions that during the buildings planning stages in 2007, rents were anticipated to be $110/foot, then dropped to $99 in Oct 2008. Now rents have dropped another 11% in that area.

The article also stated that the building hadn't landed a single tenant (as of June 4).

[BrooklynRider]

This building will pick up tenants. The location, at the crossroads of so many transportation corridors is too hard to resist.

As for the investors, that's the way it goes. Investing is gambling. Money in your pocket is money in your pocket. When you invest, you are gambling that you'll get a return. Not always the case. I think this economic collapse has taught lots of people in need of a lesson one they won't soon forget.

[BrooklynLove]

I think this economic collapse has taught lots of people in need of a lesson one they won't soon forget.

Not really. Bubbles didn't go away after the Great Depression. Five years from now we'll just be bloated via Unc Sam's balance sheet instead of Citibank's. Take a look at what is happening right now with the FHA if you need an appetizer.

[scumonkey]

July 06, 2009 12:53 PM
Real estate bellwether: 11 Times Square

The new 40-story midtown skyscraper will test the city's market
for tenants seeking an environmentally friendly building packed full of modern conveniences.

By Theresa Agovino (http://www.crainsnewyork.com/apps/pbcs.dll/personalia?ID=123)
http://www.crainsnewyork.com/apps/pbcsi.dll/bilde?Site=CN&Date=20090706&Category=FREE&ArtNo=907069989&Ref=AR&maxw=319&border=0 (http://www.crainsnewyork.com/apps/pbcsi.dll/bilde?Site=CN&Date=20090706&Category=FREE&ArtNo=907069989&Ref=AR&maxw=800) [+] (http://www.crainsnewyork.com/apps/pbcsi.dll/bilde?Site=CN&Date=20090706&Category=FREE&ArtNo=907069989&Ref=AR&maxw=800) Photo by SJP Properties

Talk about lousy timing.
The owners of 11 Times Square broke ground for the 40-story skyscraper back in May 2007 when the real estate market was the tightest it had been in years. In a market with a puny 5.4% vacancy rate, the owners projected the state-of-the-art tower would command an average rent of $110 a square foot.
Two years later, the vacancy rate has swelled to 10.5%, and the owners of the speculative, still tenant-less building, scheduled to open in early 2010, are willing to deal at $80 a square foot.
All eyes are on 11 Times Square, which over the coming months will provide a referendum on the health of the commercial real estate market in New York (http://www.crainsnewyork.com/article/20090706/FREE/%E2%80%9Dhttp://www.crainsnewyork.com/section/city_facts&cat=real_estate%E2%80%9D), where rents have fallen anywhere from 25% to 45% from $72.97 a square foot during third quarter 2008. Are there still tenants in New York who will pay high prices for space with green credentials? And will they pony up to be on Eighth Avenue when inexpensive sublease space abounds at more prestigious addresses like Park Avenue?
“I’m not crazy, I’m just optimistic,” said Steven Pozycki, chairman of SJP Properties, which owns the building with a fund run by Prudential Real Estate Investors, an arm of the insurance giant.
Mr. Pozycki has pledged that he’ll sign a lease for about 250,000 square feet in the tower’s lower floors at $80 a square foot. He’d hoped for $95 on the lower floors, but says he’ll discount to start the ball rolling. Mr. Pozycki says in a city overloaded with buildings that are more than 50 years old, he’s offering an environmentally friendly, new tower with modern conveniences on Eighth Avenue and West 42nd Street, close to transportation hubs.
A year ago, the opening of 11 Times Square looked like it would be a coming out party of sorts for SJP. Although the company has developed 20 million square feet of office space in New Jersey and Pennsylvania, this is its first skyscraper in New York City. SJP put up $15 million and received a 35% interest in the $1.1 billion building because it is acting as developer and guarantees various elements of the construction.
The building appears to be a huge major disappointment already -- at least to Prudential. The Wall Street Journal recently reported that Prudential marked down the $12.4 billion fund backing the building by 32%. The value of the building, which is the fund’s largest investment, has been marked down 20% below its building cost, according to the article.
A Prudential spokeswoman said in a statement that the deterioration of Manhattan’s office market means 11 Times Square’s financial performance “will not be what we expected” but that it will prove to be a good investment over the long term.
SJP Chief Financial Officer David Welch says he believes Prudential’s markdown comes off the highest valuation of the 1.1 million square foot building, not the construction costs. Moreover, SJP has the resources to carry the building without a tenant through 2012—even though it doesn’t believe it will take that long to lease space.
“It is too early to issue a report card,” Mr. Welch said. “We financed the building very conservatively. We can wait out the market.”
Mr. Pozycki says broker tours have picked up, and that there are serious negotiations with several parties he declined to name.
Others point out that scores of brokers have inspected the building and held talks about signing deals, but that the bustle has failed to result in a tenant. They say the rents are still too high.
“I think 11 Times Square is designed brilliantly. It has all the bells and whistles everyone wants,” said Mark Jaccom, chief executive of FirstService Williams.
Still, Mr. Jaccom says he doesn’t like the Eighth Avenue location and maintains the building is ill-suited for the majority of tenants in the market -- small operations looking for prebuilt space.
He’s also not convinced that in this cost-conscious era tenants will pay a premium for new space, despite attributes like filtered air and extra fast elevators.
“The days of glitz are over,” Mr. Jaccom said.
Stephen Siegel, head of global brokerage at CB Richard Ellis Inc., says it will be easier to highlight the building’s benefits now that construction is almost complete. And he thinks tenants will pay more for a better product. He also senses a new willingness among tenants to sign deals.
“Before the bottom feeders were just kicking tires,” said Mr. Siegel, who is marketing the building. “Now they are signing leases.”

[Dirty]

http://www.youtube.com/watch?v=v3eu065Wd0I

[ZippyTheChimp]

That was cool.

[kz1000ps]

Archi-porn!!

[kz1000ps]

July 9th:

http://img199.imageshack.us/img199/7978/1060074.jpg

41st Street:

http://img40.imageshack.us/img40/6118/1060076.jpg

http://img44.imageshack.us/img44/9151/1060079.jpg

http://img199.imageshack.us/img199/6949/1060078.jpg

http://img193.imageshack.us/img193/5232/1060080.jpg

The cantilever was a lot of fun to both look at and snap pics of:

http://img44.imageshack.us/img44/2919/1060081.jpg

[lofter1]

Glass tiles are going up at Eighth / W 41st (main entry):

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_01.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_02.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_03.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_04.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_05.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_06.jpg

Up top the point of the "crown " is going on ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_07.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_08.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_09.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/090807_11TS_10.jpg

11 Times Square

[lofter1]

Lobby Enclosure Installation at Eighth / West 41st on a grey day earlier this week ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_01.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_02.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_03.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_04.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_05.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_06.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_07.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_08.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_09.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_10.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/0809_11TS_11.jpg

11 Tines Square

[BrooklynRider]

I'm anxious to see the new subway entrances.

[lesterp4]

I hope they find a tenant soon. Could there be a building this nice tht is sitting empty?

[londonlawyer]

Can someone post an updated photo of the Intercontinental rising on 43rd?

[econ_tim]

http://farm3.static.flickr.com/2477/3854814368_80e8c17c6c_b.jpg

[ablarc]

^ Two buildings, two crowns: New York Times looks unfinished, Paramount looks finished.

[lofter1]

It's the big bulky arm of the window washer atop the Times Tower that wrecks the picture of its crown.

[infoshare]

Speaking of CROWNS. I wonder what the Architect would wear to a costume party (http://gothamist.com/2005/04/27/chrysler_building_turns_75_this_spring.php) held at the NY Times building.

[ablarc]

It's the big bulky arm of the window washer atop the Times Tower that wrecks the picture of its crown.
It looks unfinished even without that.

[Derek2k3]

http://farm4.static.flickr.com/3479/3834543280_d2d397b2ee_b.jpg
kvnbklyn (http://forum.skyscraperpage.com/showthread.php?t=173240)

[lofter1]

The peaking crown of 11 TS (NW corner) is not at all evident from above. From that angle it looks just like any other flat-topped box (although with nice skin).

[Peteynyc1]

I heard Famous Dave's BBQ is taking a large space on the ground level to give Dallas BBQ a run for their money. They already have an existing location on 46th just East of 7th Ave.

[Derek2k3]

http://farm4.static.flickr.com/3099/3154622109_b6f45669b6_b.jpg
708718 (http://bighugelabs.com/onblack.php?id=3154622109&size=large)

[kz1000ps]

9/12:

http://img195.imageshack.us/img195/6125/img0384l.jpg

http://img12.imageshack.us/img12/8536/img0387b.jpg

http://img136.imageshack.us/img136/3875/img0393g.jpg

http://img182.imageshack.us/img182/5819/img0394i.jpg

http://img147.imageshack.us/img147/9287/img0395g.jpg

http://img268.imageshack.us/img268/4004/img0396o.jpg

http://img132.imageshack.us/img132/3606/img0397ll.jpg

http://img147.imageshack.us/img147/6648/img0398z.jpg

http://img136.imageshack.us/img136/9902/img0399j.jpg

http://img136.imageshack.us/img136/2056/img0400jj.jpg

http://img248.imageshack.us/img248/9515/img0401h.jpg

http://img232.imageshack.us/img232/7172/img0402y.jpg

http://img2.imageshack.us/img2/324/img0405m.jpg

http://img406.imageshack.us/img406/6836/img0407m.jpg

[JerzDevl2000]

http://farm4.static.flickr.com/3099/3154622109_b6f45669b6_b.jpg
708718 (http://bighugelabs.com/onblack.php?id=3154622109&size=large)

Great picture - I have to walk by this every day to get from the Bus Terminal to the subway at Times Square to go up to school. This shot in particular stands out to me because I remember when 1 Astor Place dominated this area and now, it looks so dated. Reclad, anyone?

[MidtownGuy]

1 Astor Place?

[BrooklynRider]

I think he meant "plaza."

[JerzDevl2000]

Yeah, you're right. I meant 1 Astor Plaza but no one calls it that these days. I'm pretty sure it still goes by 1515 Broadway or the Viacom Building but it's still a big hulking presence on Times Square.

[ablarc]

I remember when 1 Astor Place dominated this area and now, it looks so dated. Reclad, anyone?
Perish the thought. Relics of this style are rare enough; not everything needs to look up-to-date.

It's just at the age when its style is regarded with contempt. When Penn Station reached that age, they tore it down because it was dated.

[ZippyTheChimp]

Maybe some soap and water.

[buffalo1]

Hello, Is any body able to send me finished renederings of this building from all angles, and measurements for height, width and so forth. I like to carve buildings out of wood, but I'm not sure what this looks like all around. Thank you for any help. Buffalo1

[Stroika]

I can't help but break with the chorus of Astor Plaza well-wishers. The cringe this monster induces in me by virtue of its massing and International-meets-Brutal style is worsened only by thoughts of what (http://en.wikipedia.org/wiki/Astor_Hotel)was here before:

http://www.nhcommentary.com/03feat_astorhotel.jpg
http://www.nhcommentary.com/HotelAstorRoofGdn.jpg
http://www.emmetfox.net/Astor%20hotel.jpg

[londonlawyer]

What an f..ing crime.

[ablarc]

Agreed. But the crime was committed over forty years ago. Statute of limitations?

So, now we contemplate a fresh crime?

Maybe two wrongs make a right?

[Tectonic]

Unbelievable. Why did'nt they put this tower somewhere else.

[NoyokA]

That rooftop puts 230 Fifth to shame.

[Stroika]

Agreed. But the crime was committed over forty years ago. Statute of limitations?

So, now we contemplate a fresh crime?

Maybe two wrongs make a right?

A very fair point -- there's no use crying over spilled milk, although remembering how nice that milk was before it spilled is important.

I have serious doubts that SL Green, which, unless I'm mistaken, owns 1 Astor Plaza, would knock this behemoth down. However, if it did, barring the involvement of Gene Kaufman or Costas, I think it would be eminently possible to put up something better in all senses of the word -- for the pedestrian passing by at street level, for the skyline, as well as from the tenants' point of view (is this thing even considered Class A?). Given the amount of square footage in here and what zoning would allow, any replacement would certainly be tall, and expensive. There seems to be a lot of room for any hypothetical replacement to improve upon what's there today.

[lofter1]

No way would this one be brought down.

[Derek2k3]

SL Green was going to spend $160 million renovating the building before the recession and they probably still plan to do it at some point.


http://wirednewyork.com/forum/showthread.php?t=3274

1515 Broadway
"We are touching basically everything in the building," Durels explains. The firm will redesign the glass facade, and extend the façade on the base floor "so that there will be a decorative glass wall that extends a few floors." He adds that the architectural flourish "adds a little more pop" to the building. SL Green also plans to add new emergency generators, add a new lobby and entrance, upgrade HVAC capacity and control, add new elevators, increase electric capacity, and add new restrooms, onsite parking and column-free floor plates. Durels notes that the centerpiece of the lobby will include a 5,000-sf sculptural glass block wrapping the core of the building, which is being produced by a glass artist.

-AND-


One striking change, shown for the first time in a rendering on this page, will be a 42-foot tall vertical extension to the protruding glass curtain wall on the lower floors that house the MTV studio and the Minskoff Theater's mezzanine lobby.

The facelift by architects Kohn Pedersen Fox will also overlay limestone portions of the façade and sharp-edged "crown" with brushed aluminum panels.

A few sheets have already been installed near the Minskoff entrance on West 45th Street, giving a hint how the finished job will look.

"In essence, we're re-massing the building," said Steve Durels, SL Green executive vice president and leasing chief. "Our goal is to give it more street presence and more drama, especially as you look at it the lower part."

Although he didn't mention it, the aluminum finish will also set 1515 Broadway off from the Marriott Marquis on the next block.

Right now, the stone portions of the two buildings tend to run together at first glance.

[antinimby]

I like 1 Astor Plaza. The crown plays prominently in the Midtown skyline and is unique. It is readily recognizable from anywhere.

For the longest time in the 70's through the 90's, it anchored the skyline of Times Square when there was very little that was tall enough or had a unique enough of a top to do so.

[Derek2k3]

I like it too but I'm not sure how covering the stone with stainless steel would look. It might be cool. Anyway a great shot of both towers from HoveringCheescake (http://www.flickr.com/photos/34471641@N07/3857017536/sizes/l/)

http://farm4.static.flickr.com/3517/3857017536_9b83bde318_b.jpg




9/12:

http://img195.imageshack.us/img195/6125/img0384l.jpg


The 7th Ave block-front between 41st-40th must have a lot of unused development rights. It's the one with the Parsons New School for Design building (which I like). You can see the top of it peaking out at the bottom of Kz's picture.

[lofter1]

The facelift by architects Kohn Pedersen Fox will also overlay limestone portions of the façade and sharp-edged "crown" with brushed aluminum panels.


Covering LIMESTONE with brushed aluminum?

Retarded.


... the aluminum finish will also set 1515 Broadway off from the Marriott Marquis on the next block.

Right now, the stone portions of the two buildings tend to run together at first glance.


Uhh, yeah ... right.

(Maybe if you're a complete retard with no visual acuity.)

[futurecity]

When will the new Billboards/Ads go on the facade?

[lofter1]

They haven't yet filed the applications at DOB for signage.

[BrooklynLove]

Square Feet | The 30-Minute Interview
Steven J. Pozycki

By VIVIAN MARINO (http://topics.nytimes.com/top/reference/timestopics/people/m/vivian_marino/index.html?inline=nyt-per)
Published: October 1, 2009
Mr. Pozycki, 59, is the chief executive of SJP Properties, a developer of office buildings and residential condominiums. SJP’s newest project is 11 Times Square, a 40-story glass tower rising across Eighth Avenue from the Port Authority terminal.
Skip to next paragraph (http://www.wirednewyork.com/forum/#secondParagraph) http://graphics8.nytimes.com/images/2009/10/02/realestate/04sqft-190.jpg Kristen Luce for The New York Times
Steven J. Pozycki is the chief executive of SJP Properties, a developer of office buildings and residential condominiums.


#embed602{visibility:visible !important;}


Q. How is construction going at 11 Times Square?
A. I’d say we’re about three-quarters complete. We’re finishing the elevators, the mechanical system — the whole guts of the building. We’re just finishing with our storefront glass and our lobby glass, which is a specialty glass out of Germany that costs a zillion dollars.
Q. Do you have any confirmed tenants there yet?
A. No signed leases.
Q. Does this make you a little nervous?
A. Fundamentally, we could carry the building three years — dead empty — from next April, when the building is finished. If the market stays down that long, though, we’re all in trouble.
Q. Why so confident?
A. We built into our lease-up period a very conservative projection of how it might lease. It’s in the budget.
It’s very conservatively underwritten. The debt level is very low; I think it’s about 60 percent. We’re fortunate not to have any debt turning over as of this time. We have one small loan that we’re rolling over with an institution now on fine terms.
Q. Are you close, though, to signing on any tenants?
A. We’re showing the building regularly. We’re talking to many tenants in the 200,000- to 500,0000-foot range. We have very good interest from a couple of them, and we’re going to make a very competitive deal before the building finishes.
We have probably six to eight tenants that have serious interest. My sense is we could have less than 12 tenants.
Q. The French bank Natixis has reportedly looked at the building, along with other locations, to consolidate its offices around Manhattan (http://topics.nytimes.com/top/classifieds/realestate/locations/newyork/newyorkcity/manhattan/?inline=nyt-geo). Is the bank one of those serious contenders?
A. That tenant is probably on hold for a while. I certainly wouldn’t say that Natixis would be something we’re counting on.
Q. How about the law firm Proskauer Rose, which also was said to be looking at your space?
A. We probably have five different law firms looking at the building — that have been here numerous times, that are doing drawings on the building. I’d rather not say who right now because they get so sensitive if they hear their name mentioned.
Q. Who will occupy the ground-level retail space?
A. We’re looking at venues that haven’t been brought to Times Square yet. We’ve had incredible interest in one venue that I can speak of: large aquariums.
Q. What are the building’s biggest selling points?
A. It’s the newest, the greenest. There won’t be another spec building — with the financing markets the way they are — for probably four to 10 years. So this would be the last opportunity to be in a LEED-certified gold building on a transportation hub with great exposure — floor-to-ceiling glass.
The average age of office buildings in Midtown is probably 60 to 70 years old. In a building of that nature you see inefficient floor plates, big cores in the center of the buildings, huge columns everywhere. That doesn’t really lend itself to what tenants are needing today. We have seven corner offices on each floor, and they don’t have a column in the middle to screw up the view.
Q. What will rents be per square foot?
A. We’re looking at rates that start in the high $70s, low $80s.
Q. Let’s switch gears to residential. How are sales at the Platinum near Times Square?
A. That’s about 80 percent sold out, and the construction loan is paid off.
Q. You started out in New Jersey (http://topics.nytimes.com/top/classifieds/realestate/locations/newjersey/?inline=nyt-geo), right?
A. The first piece of property we developed was a 120-acre campus in Parsippany, so we still keep our headquarters there.
Q. Tell me more about your Jersey roots.
A. Bruce Springsteen (http://topics.nytimes.com/top/reference/timestopics/people/s/bruce_springsteen/index.html?inline=nyt-per) lived down the hall from me in college; I went to Monmouth when he was starting out. He was in the same tenement I was in — a six-story walk-up with bathrooms in the hall. They’d play to about 3 in the morning. Every single day.

[antinimby]

Q. Who will occupy the ground-level retail space?
A. We’re looking at venues that haven’t been brought to Times Square yet. We’ve had incredible interest in one venue that I can speak of: large aquariums.
http://wirednewyork.com/forum/images/icons/icon14.gif

[londonlawyer]

An aquarium would be nice. How much retail space do they have that could accomodate an aquarium.

[lofter1]

The "North Retail" space is really large ...

Two floors above grade are available; together the street level + 2nd floor level = > 20K sf. Plus there's another 10K sf + directly below grade.

*

[BrooklynLove]

Re large aquarium - I interpreted this to refer to a design or sales feature, but not an actual aquarium like sea world or something ...

I don't buy the part about being able to carry the building empty for 3 years. While technically possible maybe, it would kill his portfolio-wide ROI.

[ZippyTheChimp]

Re large aquarium - I interpreted this to refer to a design or sales feature, but not an actual aquarium like sea world or something

I thought of a retail store that sells large aquariums - you know, big tanks for tropical fish.

[futurecity]

Hopefully some animated billboards go up to invigorate this vital corner.

[londonlawyer]

The "North Retail" space is really large ...

Two floors above grade are available; together the street level + 2nd floor level = > 20K sf. Plus there's another 10K sf + directly below grade.

*

Thanks, Lofter.

[Derek2k3]

http://www.youtube.com/watch?v=v3eu065Wd0I

This is amazing.

[Tectonic]

10.04.09
http://farm4.static.flickr.com/3610/3985858358_b65de73c44_b.jpg

[kz1000ps]

http://img522.imageshack.us/img522/4987/img1519q.jpg

[Derek2k3]

http://farm3.static.flickr.com/2532/3919317229_5137770bb7_b.jpg
Darth Vader Sith Lord (http://www.flickr.com/photos/leeloo2003leeloo/3919317229/in/set-72157622367856288/)

[BrooklynLove]

Hmm. Looks much more smaller than NYT in this shot than when viewed from up close.

[lofter1]

Some guys were power washing the curved windows on the base today. Down below, at the corner of Eighth / West 42nd, a bunch of rambunctious young Yankee celebrants pulled a Ratso Rizzo on a Jersey-ites car (Mets fan?) and fists were raised.

The guys up high with the spray hose tried to cool them all off ...

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/091106_11TS_1.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/091106_11TS_2.jpg

http://i130.photobucket.com/albums/p242/Lofter1/11%20TS%20Plaza/091106_11TS_3.jpg

11 ts

[econ_tim]

http://farm3.static.flickr.com/2515/4223372687_f98091419d_b.jpg

[RoldanTTLB]

pic removed

As there are no corner columns all the way up, I'd love to see the view from a corner office towards the top of this thing leaning out over 42nd and 8th. The view must be sick.

[lofter1]

This one is really looking good -- it both fits in and makes it's own mark.

Still waiting expectantly for the advertising globe to be installed atop the base above Eighth / 42nd. That will really liven it up.

[Dirty]

TIMES SQ. TOWER'S BOOST

By STEVE CUOZZO

Steven J. Pozycki's SJP Properties and law firm Proskauer Rose have reached a term-sheet agreement for a prospective Proskauer move to new 11 Times Square, three different sources said yesterday.


It will take several months more to draw up an actual lease for 400,000 square feet in the 1.1 million square-foot tower. A completed lease is by no means certain and the talks could yet fall apart.


But the term sheet is a major milestone in Pozycki's patient campaign to fill his $1.2 billion tower at Eighth Avenue and 42nd Street, which will be completed this summer but has yet to sign tenants.


A non-binding term sheet spells out all the main economic aspects of a landlord-tenant contract. It usually, but not always, leads eventually to a lease.


Beyond the obvious boon to SJP, a Proskauer move to 11 Times Square would have immense symbolic impact. It would validate not only SJP's investment in the $1.2 billion project -- a 35 percent equity stake with its partner, a Prudential real estate fund, Pozycki told us in 2007 -- but the entire cause of new Manhattan office construction.


Driving the SJP/Proskauer talks are several factors:


* Thriving Proskauer needs a new home that it can custom-tailor to its needs, which is more easily done in a new building than in its current home at 20 year-old 1585 Broadway.


* The law firm is feeling increasingly squeezed at the Morgan Stanley-owned Broadway address, where it has 12 floors. The bank is headquartered there and "isn't going out of its way" to accommodate Proskauer's need for extra temporary floors it must have if it were to rebuild its existing space.


* A lease at 11 Times Square might be $30 a square foot cheaper than it would have been at Boston Properties' aborted 250 W. 55th St. -- a project Boston suspended a year ago after the collapse of lease talks with Proskauer to be its anchor tenant there.


A lease at Boston's site might have cost $100-plus a square foot. SJP originally wanted that price for 11 Times Square, but last year the Real Deal re ported that Pozycki said he "would be real happy" with the high $70s, reflecting the mar ket's decline.


* While SJP is represented by a CB Richard Ellis team led by


Stephen B. Siegel, Proskauer is also repped by CBRE. Having the same brokerage work both sides doesn't always lead to a deal -- it didn't at 250 W. 55th -- but it never hurts.


Ever since 11 Times Square started going up two years ago, the many-faceted, glass-wrapped tower designed by FXFowle Architects has been the poster child for the supposed evil of speculative development. Most every story about rising vacancies has cited 11 Times Square's obviously temporary vacant status to claim that the market will be weak forever.

[kz1000ps]

This one is really looking good -- it both fits in...

I'm loving it too, and I was just thinking how much the base took its cues equally from both the McGraw Hill Building and Times Square...nice.

[arcman210]

http://online.wsj.com/article/SB10001424052748704140104575057650820646726.html?m od=WSJ_HomeAndGarden_sections_RealEstate

FEBRUARY 10, 2010, 5:59 P.M. ET

Deal May Bring Aquarium to Times Square

By ANTON TROIANOVSKI

New York's Times Square may be getting a new tenant: a seven-story aquarium.

Jerry Shefsky, a Toronto-based developer, said on Wednesday that he has signed a preliminary agreement with the landlord of an office tower on the western edge of Times Square to go forward with the $100 million project. He would install tanks featuring sharks, rays, penguins, otters, and other animals in the bottom floors of the 40-story building, known as 11 Times Square, hoping to attract some of the 35 million people who pass through Manhattan's major crossroads every year.

Mr. Shefsky, 76 years old, has built aquariums and shopping centers around the world. He cautioned in an interview that the lease agreement for 11 Times Square isn't yet final. But he said he may start building out the space as early as this April with the hope of opening the aquarium in September 2011.

A deal with Mr. Shefsky would be a long-awaited bit of good news for the developer of 11 Times Square, SJP Properties Inc., and its major financial backer, a real-estate fund managed by Prudential Financial Inc. SJP, led by New Jersey developer Steven Pozycki, broke ground on the tower in 2007 without having first secured a tenant, hoping that the hot Manhattan office market would bring sky-high rents as the building neared completion. But the market turned—New York City office rents plummeted 20% in 2009, according to Reis Inc.—and SJP's empty tower on the corner of 42nd Street and 8th Avenue has become a symbol of commercial-property woes.

SJP is also negotiating to lease 400,000 square feet in the building to law firm Proskauer Rose LLP, said a person familiar with the matter. The building is slated to be completed in the next few months.
A Prudential spokeswoman declined to comment, and Proskauer didn't immediately respond to a request for comment. Mr. Pozycki declined to comment through a spokesman.

The proposed aquarium's unusual placement inside a skyscraper means it'll be different from most big-ticket fish exhibits. Preliminary plans call for about half of the floor space to be taken up by water exhibits, Mr. Shefsky said, while the rest will be occupied by things like a pirate museum and educational displays about the marine world. "It's anything but an aquarium in the format you might imagine," he said. Mr. Shefsky's company, Aquarium Developments Corp., also built the Newport Aquarium near Cincinnati, Ohio.

The Times Square project would likely have fewer fish than some of the high-profile aquariums built in recent years. Mr. Shefsky says he currently expects his tanks to contain about 600,000 gallons of water. Atlanta's Georgia Aquarium, which opened in 2005, has more than eight million gallons of water.

In snowy Midtown on Wednesday, there seemed to be some demand for another tourist attraction in the area. "Would I really like to go to an aquarium? No, I have one in Long Beach," said Helene Mayer, a 44-year-old occupational therapist from Los Angeles who had brought her 9-year-old son to the M&M World store in Times Square. But, she said, "now we're looking for another indoor activity to do," and an aquarium "would offer kids a great opportunity in a fun area."

Mr. Shefsky said he has lined up financial backers to help pay for the aquarium's installation, which will cost more than $100 million. He declined to name those backers, and he said he wasn't ready to release a rendering of the aquarium. Mr. Shefsky discussed his plans after an inquiry from a reporter.

[lofter1]

The proposed aquarium's unusual placement inside a skyscraper means it'll be different from most big-ticket fish exhibits. Preliminary plans call for about half of the floor space to be taken up by water exhibits, Mr. Shefsky said, while the rest will be occupied by things like a pirate museum ... "It's anything but an aquarium in the format you might imagine," he said.


AAAaaarggghhh :cool:

[Derek2k3]

As touristy as this may be, I get excited when something other than a drug store, bank branch, or a chain store opens in Manhattan.

We've had some interesting announcements recently like the new nightspot in Chelsea where the Roxy stood (http://wirednewyork.com/forum/showpost.php?p=315744&postcount=418), a retail complex (http://wirednewyork.com/forum/showpost.php?p=301906&postcount=1028) for small business owners in the church where Limelight use to be, and all the bowling alleys set to open. (http://wirednewyork.com/forum/showthread.php?t=23084)

Too bad these places aren't going to be cheap, but hopefully this is only the beginning of a trend to make the city fun again. I spent two hours in that arcade in Chinatown again yesterday, shame we don't have more of these pretension-less places.

[Stroika]

As touristy as this may be, I get excited when something other than a drug store, bank branch, or a chain store opens in Manhattan.

We've had some interesting announcements recently like the new nightspot in Chelsea where the Roxy stood (http://wirednewyork.com/forum/showpost.php?p=315744&postcount=418), a retail complex (http://wirednewyork.com/forum/showpost.php?p=301906&postcount=1028) for small business owners in the church where Limelight use to be, and all the bowling alleys set to open. (http://wirednewyork.com/forum/showthread.php?t=23084)

I agree with your first sentence, Derek ... though as cool as an aquarium in Times Square could be, the "pirate museum" would be pretty lame if it were to happen...

As for the second part, I hate to break it to you but it looks like the Roxy would-be owners got scared (http://www.chelseanow.com/articles/2010/02/08/news/doc4b70d911beb72095636213.txt) :mad:

[lofter1]

... the "pirate museum" would be pretty lame if it were to happen...


You'll be walkin' the plank for that :mad:

[NoyokA]

I won't visit the aquarium just like I haven't visited and won't visit the Wax Museum, Ripley's, Discovery Times Square Exhibit, the American Sports Museum, the Museum of Sex, Bodies, and the Rock and Roll Hall of Fame annex. These aren't museums they're businesses in the business of ripping off tourists. I refuse to pay $20-$30 when you're in the city with some of the best museums in the world where you can find what these museums offer and much more at a fraction of the price, if you just know how and where to look. If I'm itching to see an aquarium I'll head out to the Coney Island Aquarium, one of the best.

[gundam00]

I hope the pirate exhibit has actual artifacts.

[lofter1]

I won't visit ... the Rock and Roll Hall of Fame annex. These aren't museums they're businesses in the business of ripping off tourists.

That one failed and closed (http://www.nytimes.com/2009/12/05/arts/music/05rock.html) on January 3, 2010 -- barely a year after it opened.

Granted, the Soho location on the little traveled stretch of Mercer Street doesn't have the tourist traffic of Times Square, but nothing in NYC is a hit until it proves itself with the public ...


Initial projections talked of the annex’s drawing in around half a million visitors a year, but Ms. Bell declined to provide figures on actual attendance or revenues. “We are not giving out numbers,” she said.

General admission to the annex is $26.50, compared with $22 at the main museum in Cleveland, which also offers more generous discounts for children and those over 65 than the annex does. Visitors typically spend four or five hours looking at the Cleveland exhibits, whereas an estimate of the time required for a full viewing at the annex, even with its high-technology features and club ambience as lures, is less than two hours.

“In New York you have to prove yourself, whether you’re a sports team or a museum,” Joel Peresman, president of the Hall of Fame Foundation, told The New York Times last November, just before the annex opened. “We have an important story to tell. And you have to have something interesting and compelling. Otherwise, New Yorkers are going to blow it off.”

[Stroika]

I won't visit the aquarium just like I haven't visited and won't visit the Wax Museum, Ripley's, Discovery Times Square Exhibit, the American Sports Museum, the Museum of Sex, Bodies, and the Rock and Roll Hall of Fame annex. These aren't museums they're businesses in the business of ripping off tourists.

True, but they aren't very good businesses -- the Sports Museum and Rock and Roll HoF have closed :rolleyes: But I think your skepticism is right: This one could be fairly cool, or it could be another rip-off tourist trap.

If I'm itching to see an aquarium I'll head out to the Coney Island Aquarium, one of the best.

You really think so? I've only been there twice, but I have the distinct impression it's one of the worst aquariums I've been to. It always seems small, outdated, a bit grungy, and really lacking in breadth/depth of exhibits. I'm looking forward to the renovations (fingers crossed)...

[Dirty]

It can be a great addition, with the right signage it should draw customers for the other businesses down to 8th ave 42nd st corner

It will also be good for the city school kids to visit (if there is money in the school budget)

Lawyers upstairs, sharks downstairs,

Better chance to survive downstairs with those sharks

[Derek2k3]

http://farm5.static.flickr.com/4004/4376869238_882f1da173_b.jpg
estatik (http://www.flickr.com/photos/estatik/4376869238/sizes/l/)

[Stroika]

This isn't 100% relevant to this thread, but looking at the photo, what do you think the chances of the Javits Center getting demo'ed to make way for some high-rises in the next 20 years are? (I'm hoping pretty high.)

Personally, I'd rather remove the zebra (which looks as good in this photo as it ever has) from the face of the Earth, but the Javits is much more likely to be replaced.

[Derek2k3]

I feel like they'll renovate and expand it.

Will our state/city ever have as much cash on hand as it did during the height of the last boom? Yet we still couldn't get anything large done.



http://farm3.static.flickr.com/2443/4032806903_5e9f0aeaa8_b.jpg
NJ Photographer (http://www.flickr.com/photos/32367421@N00/4038852722/)


http://farm3.static.flickr.com/2447/4038852722_4d6fab020e_b.jpg
NJ Photographer (http://www.flickr.com/photos/32367421@N00/4038852722/)
440 42nd will appear in front of the Nelson Tower in this shot and it's about the same height as The Orion. Also, Moinian has that stalled site next to the Atelier which is suppose to be about 620' tall also.

[ASchwarz]

This isn't 100% relevant to this thread, but looking at the photo, what do you think the chances of the Javits Center getting demo'ed to make way for some high-rises in the next 20 years are? (I'm hoping pretty high.)


I think there's little doubt the Javits will eventually be replaced.

The current renovation is just a temporary fix. And the site is much, much more valuable as a development site.

So, yeah, I think once Hudson Yards really starts going, then plans will be made to move Javits, probably to the Sunnyside Yards.

Developers and the City have talked about this for some time, even back under Pataki.

[fioco]

I hope you're right. Sunnyside Yards would be an ideal location for a Trade Fair and Expo Center in the fashion of those in Milan and Barcelona.

[TREPYE]

http://farm5.static.flickr.com/4004/4376869238_882f1da173_b.jpg
estatik (http://www.flickr.com/photos/estatik/4376869238/sizes/l/)

NYTimes tower ought to be more adequately lit. Are they ever going to get to it?

[lofter1]

Illuminated Signage (http://curbed.com/archives/2010/02/18/11_times_square_exits_the_minor_leagues_goes_pro.p hp) has gone up at 41st / Eighth.

[Merry]

11 Times Square Flaunts Phantom Tenants

March 12, 2010, by Pete

http://cdn1.curbednetwork.com/cache/gallery/4041/4411778040_963c5d9d69_o.jpg
New signage outside 11 Times Square.

http://cdn1.curbednetwork.com/cache/gallery/2803/4426168832_81ded749c5_o.jpg

http://cdn1.curbednetwork.com/cache/gallery/4058/4411778090_b38250169e_o.jpg

http://cdn1.curbednetwork.com/cache/gallery/4004/4411010561_4fdf8e1883_s.jpg (http://cdn1.curbednetwork.com/cache/gallery/4004/4411010561_1c561e4f02_o.jpg) http://cdn1.curbednetwork.com/cache/gallery/4033/4425403463_b219f3a752_s.jpg (http://cdn1.curbednetwork.com/cache/gallery/4033/4425403463_c3d8c480d7_o.jpg) http://cdn1.curbednetwork.com/cache/gallery/2747/4411777938_7cf274c948_s.jpg (http://cdn1.curbednetwork.com/cache/gallery/2747/4411777938_9c44c659d4_o.jpg) http://cdn1.curbednetwork.com/cache/gallery/2698/4411777858_fdd8e4e76a_s.jpg (http://cdn1.curbednetwork.com/cache/gallery/2698/4411777858_b64460a7a2_o.jpg) http://cdn1.curbednetwork.com/cache/gallery/4053/4411778180_4c49796082_s.jpg (http://cdn1.curbednetwork.com/cache/gallery/4053/4411778180_301aed3985_o.jpg)
(click to enlarge)

Aside from the promise of a few fishes down below and some legal eagles up top, pinning down prospective tenants at the new 11 Times Square office tower has proven to be problematic. But additional names were recently affixed to this 35-story skyscraper from SJP Properties. Just outside the entry doors at Eighth Avenue and 41st Street new signs have gone up for the Laerdna Corp. and Elland Lauge Associates LLC. They sound important! But our searching revealed nary a match, so either these two companies are very clandestine or the design crew from FXFowle is simply setting up some sample signage to see how it looks. And then, while sifting through the 11 Times Square website, something shiny snagged our attention. We were hooked!

Hanging up high in the tower's lobby will be a kinetic sculpture by artist Tim Prentice, who creates mobile pieces in the tradition of Alexander Calder. The sculpture at 11 Times Square, a suspended set of thin metal panels shown in a render of the lobby, will undulate over the entryway, like a school of fishies floating in the air. Following those simulated critters takes us full circle, right back to where we started and wondering about the tenants to come.

11 Times Square (http://eleventimessquare.com/) [Official Site]
Swim With the Times Square Fishes (http://ny.curbed.com/archives/2010/02/11/swim_with_the_times_square_fishes.php) [Curbed]
11 Times Square coverage (http://ny.curbed.com/tags/11-times-square) [Curbed]

http://ny.curbed.com/archives/2010/03/12/11_times_square_flaunts_phantom_tenants.php#more