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Thread: 220 Central Park South - RA Stern - 920 ft

  1. #151

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    existing building is shrouded

  2. #152

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    Frozen in time
    Envisioning the future of New York is “more of the same”

    July 01, 2012
    By James Gardner
    http://therealdeal.com/issues_articles/frozen-in-time/



    A good article by Gardner. I agree to some extent that the Manhattan of the future will look relatively the same due to the difficulty of replacing co-ops and condo buildings. Just look at the UES, very little has changed, besides a few towers on the eastern avenues and some hospital development near the river. However, because of the dearth of places to build out, there is an increasing pressure to build up. IMO the skyline will continue to change dramatically as developers come up with more creative ways to build, i.e. accruing neighboring air rights, cantilevering buildings, erecting sliver buildings, etc. Even the skyline of today looks pretty different from 10 years ago.

    The city seems to have realized this with its generous upzonings (i.e. Midtown East/ Hudson Yards, LIC, Brooklyn,), building in the open space of public housing, etc...

    220 CPS came to mind with its dilemma regarding clearing out tenants...and in this case they were RENTERS!
    Last edited by Derek2k3; July 21st, 2012 at 06:40 PM.

  3. #153

    Default 29 July 2012

    All the glass in the windows has been removed from the 58th Street side:



    The western facade has been stripped down to the concrete (here, seen from the 58th Street side)



    58th Street side:



    Glass is still largely intact on the CPS side:


  4. #154

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    Vornado filed demolition permits for 229 and 231 West 58th. As far as we know, Extell still owns the vacant lot at 227 West 58th that separates those two lots from Vornado's 220 CPS. The last article does hint that the two developers are trying to work something out. Unless Vornado agrees to some massing guidelines, I see no reason why Extell would sell its lot since if the Vornado sites were combined, they could erect a tower that would block the entire span of Central Park views from Extell's tower...well at least from the lower floors since Extell has amassed a tremendous amount of air rights.

    Vornado could also just be demolishing the structures for development rights or they could even erect two towers but that's unlikely since they probably want to place as much bulk as they can on the CPS frontage.
    We'll have to wait and see how this plays out.

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

    Extell makes Trump look like a single family home developer.
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  5. #155

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    I wonder if Extell could transfer the air rights from its 58th St parcels across the street to its tower site.

  6. #156

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    I wonder if Extell could transfer the air rights from its 58th St parcels across the street to its tower site. I'm pleased that they're finally razing those eyesores on 58th. I always hated them when I lived in the area.

  7. #157

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    Of course they can. but according to this they haven't.
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  8. #158

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    Thanks. I didn't know if the needed permission from the city to transfer air rights across the street and if such permission would come with unreasonable conditions imposed by Burden & Co.

  9. #159

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    i saw this on the real deal
    Vornado declined to comment.The two West 58th Street properties are adjacent to 225 West 58th Street, where the Extell Development Company has filed plans to build an 18-story residential building.

  10. #160

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    An 18-story building can be easily built on West 58th Street without anyone noticing.

  11. #161
    Disgruntled Optimist lofter1's Avatar
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    Vornado vs. Extell

    WALL STREET JOURNAL
    Eliot Brown
    August 19, 2012

    The start of demolition on a onetime apartment building on Central Park's southern edge has escalated a fight over the coveted site, where landlord Vornado Realty Trust wants to build a soaring condo tower.

    Vornado recently began taking down the top floors of the half-century-old former rental building while the parking garage in the building's basement is still operating.


    That is because the garage is controlled by rival developer Gary Barnett, founder of Extell Development Co, who owns a neighboring development site. He has thus far held out from striking a deal with Vornado to shut down the garage, so the demolition is slated to leave the garage in place.


    Last week, the work on the building was halted by the city's Department of Buildings, which issued a "stop work order" after some bricks fell 10 stories, the agency said in a report on its website.


    The infraction isn't uncommon on large demolition jobs, although typically sites are fully vacant.


    The incident has provoked an angry response from Mr. Barnett, who had previously criticized Vornado for moving ahead with demolition while his garage is still open.


    "It's outrageous that they're taking a risk with people's lives and properties when it doesn't do them any good," Mr. Barnett said Friday.

    "They're only tearing the building down to the third floor—so why are they going ahead and doing this demolition while the building is occupied? Let them wait."

    Vornado, one of country's largest publicly traded real-estate companies, recently acknowledged the unresolved conflict with Mr. Barnett on its quarterly conference call, referring to it as "a bit of a tussle with a neighboring property owner," in the words of Vornado executive David Greenbaum.

    "We feel very good about where we are in the process with demolition having commenced," Mr. Greenbaum said on the call.

  12. #162
    Forum Veteran Tectonic's Avatar
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    Barnett obviously wants to stall this project as long as possible.

  13. #163
    Disgruntled Optimist lofter1's Avatar
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    Sure, he'd prefer to get 225 W 57th across the street up and units there sold before Vornado's new tower rises and blocks the Extell views.

  14. #164
    Disgruntled Optimist lofter1's Avatar
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    Default Occupy Central Park South!!!

    Competing RE biggies are up to more legal shenanigans on Central Park South ...

    Extell sues Vornado to force it to re-occupy 220 CPS

    THE REAL DEAL
    By Adam Fusfeld
    August 27, 2012 09:30AM

    The battle between Extell Development and Vornado Realty Trust over a Central Park condominium site that would directly compete with One57 has entered a new phase. The Wall Street Journal reported that Extell has gone to court to force Vornado to re-fill the building it vacated, at 220 Central Park South.

    Vornado emptied the building, and wants to do the same to the basement garage Extell leases through 2018, in order to knock it down and replace it with a luxury condo building just blocks from Extell’s One57.

    The lawsuit is a reaction to Vornado having recently informed Extell that it is in default of its lease, and will move to evict it.

    Vornado’s maneuver came on the heels of a $200 fine it handed to Extell in May because the parking garage was not being used “primarily for residents” as is required. However, Vornado, which has been planning the development for some seven years, had bought out all of the residential tenants. In Extell’s lawsuit against Vornado, it alleges the violation was a “sham” and demanding that it “re-occupy the building with tenants.”

    “They take away our clients, they empty out the building, and then say, ‘You’re in violation because you have an empty building,’” Extell President Gary Barnett told the Journal. [WSJ]

  15. #165
    Fearless Photog RoldanTTLB's Avatar
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    They have just wrecked SHOP over here. There's nothing but a single story entrance to a basement garage and some rubble. This site is much larger than I had initially thought. Its basically everything but the incredibly ornate townhouses and the firehouse to the east.






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