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Thread: 360 Tenth Avenue - Proposed 62-story, 700ft+ Tower - by Steven Holl

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    Default 360 Tenth Avenue - Proposed 62-story, 700ft+ Tower - by Steven Holl

    According to this news story, the construction should commence in the near future.

    Extell Moves To Get a Piece of a Hotspot in the Making


    By ELIOT BROWN
    Special to the Sun
    May 25, 2007

    With a vision for the Hudson rail yards slowly taking shape, a top developer has plans to build a 600,000-square-foot mixed-use tower across the street, marking an early entry into the hotspot-to-be of Midtown West.

    The Port Authority yesterday approved the sale of a 7,300-square-foot sliver of land to Extell Development for $17.1 million, moving the giant developer a step closer to construction on the site, which sits between 30th and 31st streets east of 10th Avenue.

    A spokesman for Extell said the company is likely to soon begin construction work for the building, which will contain residential and commercial space and a hotel. Within the land transfer, Extell left a provision for a skyway that would run across the street to the High Line, the planned park to be built on elevated rail tracks.

    The building would be one of the few early arrivals to the gradually transforming Hudson Yards district that runs on the West Side between about 28th and 42nd streets, an area that was rezoned to encourage new, denser development in 2004. Anchored by such city- and state-led projects as the planned development of an expanded Javits Center, a new train terminal by Pennsylvania Station, and the Hudson rail yards complex, the area promises to be almost unrecognizable in 15 years, and developers are slowly buying up land.

    For Extell and the other few early developers that trickle in, real estate experts say being the first to build can be costly.

    "The first project that goes up always takes a hit because you're taking the most risks you have unestablished market rents," an analyst at Real Capital Analytics, Daniel Fasulo, said. "There's a lot of major developers acquiring land there right now, but it's basically a game of chicken between your neighbors."

    Extell is said to be one of five firms planning a bid for development of the rail yards, which run between Tenth and Twelfth avenues. The city and state foresee a giant complex of residential and commercial towers atop the yards, with a spacious park running east to west envisioned for the center of the development.

    The state, which owns the site, intends to issue a request for proposals in coming weeks for the development. The bid to complete the complex could go to a single or a team of developers, officials have said. They would be required to build an extremely costly platform over the rail yards before constructing the towers.

    2007 The New York Sun, One SL, LLC

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    Disgruntled Optimist lofter1's Avatar
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    Not sure why The Sun is reporting this like it's new news ...

    WNY Post from October 2005

    WNY Post from October 2006

    WNY Post Follow-Up from November 2006

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    Build the Tower Verre antinimby's Avatar
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    I'm guessing it's because the transaction was approved by the PA board and made official yesterday.

    Anyway, I'm very confused by all this.

    According to Cityrealty.com, which also came out with a new entry today (below) for this story, it looks like the transaction yesterday is for another 7300 sf parcel adjacent to the Dean site, which Extell had bought earlier.

    I checked the map, and I can't figure out where this adjacent 7300 empty lot is at. Could it be the low-rise building with the smoke stack directly behind the Dean site? (But it is only 4500 sf)

    Here's the whole site from the air, facing east:






    Port Authority sells Extell land and easements on Tenth Avenue

    25-MAY-07

    The board of directors of the Port Authority of New York and New Jersey authorized the sale of about 7,300 square feet of vacant land on Tenth Avenue between 30th and 31st Streets to the Extell Development company, which is headed by Gary Barnett, for $17,155,000.

    The board also authorized granting Extell a perpetual light-and-air easement over an adjacent parcel of land of about 4,300 square feet for $500,000 and another easement for the construction and maintenance of a pedestrian skyway over an adjacent parcel owned by the authority for an amount to be negotiated of not less than $500,000.

    Extell is developing a mixed-use commercial and residential high-rise building of 600,000 to 650,000 square feet on the adjacent lot and as part of the transaction authorized yesterday Extell would be granted a 30-foot-wide light-and-air easement over a portion of the Lincoln Tunnell Access road, and a sliver of land between the property and such access road, for $500,000.

    The Extell site is adjacent to the new High Line Park.

    Extell Development had acquired the low-rise building occupied by Stuart Dean, the building facade restorers, at 366 Tenth Avenue between 30th and 31st Street for $23 million.

    The site lies within the Hudson Yards district.

    The city rezoned much of the Hell's Kitchen area to accommodate a plan by the Bloomberg Administration to build a new football stadium over the exposed train yards that run into Penn Station. The plan, which was promoted by Deputy Mayor Dan Doctoroff, was designed to tie into an expansion of the No. 7 subway line, an expansion of the nearby Jacob K. Javits Convention Center and the creation of a new north-south boulevard with high density development of both offices and apartments.

    The stadium plan fell through, but the rezoning was enacted and it permits the highest development FARs (floor-to-area ratios) in the city: 21.6. (In contrast much of the development on the Upper East Side and the Upper West Side is limited to a maximum of FAR of about 10 and in downtown areas like Chelsea and TriBeCa FARs are considerably lower.

    Extell has become one of the city's most aggressive acquirers of property in recent years. It is converting the former Stanhope Hotel at 995 Fifth Avenue to residential condominiums and nearing completion of the 60-story condo tower known as the Orion on West 42nd Street and two high-rise towers on Broadway at 99th Street and it has several projects along Riverside Boulevard and a couple on West 57th Street.

    © 1994-2007 CITY REALTY.COM INC.

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    Build the Tower Verre antinimby's Avatar
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    I think I've got it all figured out now.

    - The Stuart Dean site Extell had already owned (12565 sf)
    - The plot that Extell just purchased from the PA (7300 sf)
    - The Lincoln Tunnel access road (yellow highlight)
    - The proposed skybridge to connect to the Highline


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    Disgruntled Optimist lofter1's Avatar
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    Seems that assessment ^^^ is pretty much correct -- and is outlned in a NYC Department of Finance document ("MORTGAGE SPREADER AGREEMENT") dated May 7, 2007 (13 pages: "EXTELL 31/10 LLC" and "BARCLAYS CAPITAL REAL ESTATE INC."; the property is listed under Block 728 / Lot 67) which specifies the property outlines for the four Parcels that make up the Extell site (including a very lengthy and convoluted description of Parcel #4 regarding the access road to the Lincoln Tunnel.

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    Quote Originally Posted by antinimby View Post
    Within the land transfer, Extell left a provision for a skyway that would run across the street to the High Line, the planned park to be built on elevated rail tracks.
    This is big in my opinion and speaks to the likelihood that the full length of the high line will remain.

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    Disgruntled Optimist lofter1's Avatar
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    That long-term existence of the stub of the High Line at the east end of 30th St. hasn't been in question -- its' the section west of 10th Avenue that goes west towards the River front, then north to 33rd and then east that is in danger of coming down.

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    Disgruntled Optimist lofter1's Avatar
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    Architect Steven Holl was on Charlie Rose tonight (no vid yet ont he Rose website) and he talked about this project. His firm has designed the TOWER for Extell at this site and he said it is a definite GO.

    His plan is to have a very strong VERTICAL terminus for the north <> south run of the High Line. THe tower will be fairly simple, and yet it will mimic vertically the run of the High Line (there will be slight bows in the tower as it rises).

    Holl showed some renders of the tower -- it looks FANTASTIC. And BIG. It will be mixed use with commercial below, reisdential above and the previously mentioned bridge which will cross over and connect to the High Line at Tentn Avenue / 30th Street.

    Nothing yet on Holl's website: http://www.stevenholl.com/

    And can't yet find anything on the web about the building.

    And DOB is still not showing any New Building Applications for the site at 358-366 Tenth Avenue (aka 460-462 W. 31st)

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    I caught it, but by the time I got my camera ready I missed the (first) overall shot of the building.

    There's at least another 5-10 stories to the tower that this image cuts off





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    Disgruntled Optimist lofter1's Avatar
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    Excellent ^^^ Good screen grab

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    Thanks --- I think this is the first time I can say I've been a part of a WNY scoop of any kind, and all I had to do was unwittingly watch the wonderful Charlie Rose

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    Disgruntled Optimist lofter1's Avatar
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    Fun to get a scoop, eh ?

    Did you happen to catch how many floors Holl said it would be?

    In your photo I think I'm seeing 22 visible floors plus 4 double height floors up top.

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    That's A Great Building!!!

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    Quote Originally Posted by lofter1 View Post
    Did you happen to catch how many floors Holl said it would be?
    I don't believe it was said -- otherwise I would've remembered it without fail. But from what I remember, it looked to be somewhere around 400 feet, maybe approaching 500.

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    Great capture, kz100ops! I was fortunate to see the same program. Steven Holl described it as a vertical expression of the high line itself. The slender tower snaked into the sky (see kz1000ps' capture of the top). Holl wanted a sentinel to mark the northern terminus of the high line, acknowledging that developers weren't too eager to incorporate the final loop into their plans. As anti-nimby expertly mapped out for us earlier, the plot is quite small; yet the tower looks deceptively (and exquisitely) tall. Can't wait for the official renderings.

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