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Thread: Emerald Green - 320 West 38th Street - by Stephen B. Jacobs Group

  1. #46

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    Might be a good idea seeing that they only poured the concrete foundation for the crane last night!
    I also saw no inspectors or other official looking people around while they were anchoring the base.
    Also, doesn't it take days for concrete to reach full strength?

  2. #47
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    There's going to be another new face coming to join this block party...


    JV Plans $90M Hotel Development


    By Natalie Dolce
    Last updated: June 26, 2008 01:27pm

    NEW YORK CITY-HREC Investment Advisors successfully represented West 37th Street Owner LLC and Englewood, CO-based Stonebridge Realty Advisors Inc. in formulating a joint venture to develop a 220-room select service hotel on West 37th St., between 8th and 9th Avenue. Estimated project cost is $90 million and debt and equity placements are nearing completion, a testament to the strength of the project and the development team in a difficult capital market.

    The project is currently being contemplated as boutique hotel or a primary brand in the select service category. This will be Stonebridge’s first project in Manhattan. Kevin Mahoney, COO of Stonebridge, tells GlobeSt.com that the address of the site is 307-311 W. 37th St.

    Mahoney explains that they will begin construction "by year end," and expects to have construction completed in 2010. He tells GlobeSt.com that the total square footage of the hotel will be roughly 96,500 sf, noting that "the number of stories is still to be determined."

    Mahoney says that the financing is coming from a "well capitalized equity source and bank financing," but did not further detail specifics. Currently in the location is a three-story distribution center that "will be razed."
    Mahoney says that the firm has been looking in the New York City market for approximately two years.

    Navin Dimond, president and CEO of Stonebridge Cos. says in a prepared statement that "Stonebridge continues to grow and we have been looking at the New York market for some time, but felt this project had all the right ingredients in terms of location, concept and upside potential of the area."

    Dimond continues that Stonebridge plans to grow its platform on a national basis and looks forward to doing additional projects in New York. "HREC’s ability to bring us an off-market deal was a key factor in structuring an equitable deal for us and our JV partner."

    Geoff Davis, president of HREC Investment Advisors says in a prepared statement that, HREC has worked extensively with Stonebridge in other markets and "expect they will be very successful on the big stage of New York, they know how to get a project done on time and on budget." Davis was unavailable to answer further queries by deadline.

    Copyright © 2008 ALM Properties, Inc.

  3. #48
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    Quote Originally Posted by antinimby View Post

    ... another new face coming to join this block party...
    > Plans $90M Hotel Development

    ... West 37th Street Owner LLC and Englewood, CO-based Stonebridge Realty Advisors Inc. in formulating a joint venture to develop a 220-room select service hotel on West 37th St., between 8th and 9th Avenue.

    ... the address of the site is 307-311 W. 37th St.

    ... Currently in the location is a three-story distribution center that "will be razed."
    A few weeks back I noticed these old piles of brick were being emptied out and readied for the exterminator ...







    307 - 311 w 37

  4. #49

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    Oh Goodie!
    And with the new 27 story apartment building also going up at 346 w 37th st between 8th and ninth-
    the noise and dust we're having to put up with will become unbearable!
    Last edited by scumonkey; June 27th, 2008 at 11:11 AM.

  5. #50
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    Don't turn NIMBY on us now scumonkey. Be a trooper!

    By the way, are both of those red-brick, 3 story structures part of the plot?

    The one on the right with the ornamentation is nice and should be restored while the plain looking garage on the left can go.

  6. #51
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    And isn't there another parking lot on the south side of 37th closer to Eighth Avenue that hasn't yet been claimed?

    Come now: What's 3-4 years of constant noise and dirt when compared with the glory of living in the heart of Manhattan?

  7. #52

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    Don't turn NIMBY on us now scumonkey.
    NEVER! (Unless it's another McSam)
    And isn't there another parking lot on the south side of 37th closer to Eighth Avenue that hasn't yet been claimed?
    Yes there is BUT- that's 346 and it's claimed with a 27 story rental (already digging foundation after stop work order recently lifted). There are however, two more lots on the south side of 37th....one right in the middle of the block, and
    one right across from 307-311.
    All this in the newly created historic garment district zoneing thingy.

  8. #53

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    Up, Up and Away!





  9. #54
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    Thanks for the updates but I gotta say that crane peice is either really dirty or really really rusty.

  10. #55

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    Let's hope it is just dirty and not rusted. No more accidents!

  11. #56

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    really REALLY rusty!
    and they were welding something back onto it
    before they installed it.

  12. #57
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    yesterday ...





    37 38

  13. #58
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    The dude with the white hardhat sitting on the top segment sure is brave.

    If that segment they're lowering should fall incorrectly or swing too much, he'd get squashed like a bug.


  14. #59
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    I may have forgotten but do we know what 346 37th looks like?


  15. #60
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    346 W 37:

    DOB Shows New Building Plan Exam DISAPPROVED on 5.20.08

    Architect: AVINASH MALHOTRA ARCHITECTS

    That firm ^ claims responsibility for 2 Gold and the dull + dreary Plaza West (Rockrose, 1990) at 444 West 35th

    Proposed for 346 W 37th

    Occupancy Classification: J2 - RESIDENTIAL
    Construction Classification: 1-B
    Multiple Dwelling Classification: HAEA
    Building Height (ft.): 250
    Building Stories: 27
    Dwelling Units: 207
    Zoning Floor Area (sq.ft.): 201,798

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