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October 14, 2007
Is Verizon looking to unload any more properties? If Verizon would also sell its building in Hell's Kitchen for re-cladding, it'd deserve a Pritzker Prize for single-handedly fixing the Downtown and Midtown skylines. (Keep the Soho one ... it's kind of interesting.)
^ Even more horrid close up.
Here's an aerial shot from newyorkharborbeaches.org
Still waiting on renderings for this...
Taconic shines up Pearl for tenants.
Real Estate Weekly
Oct 17, 2007
When Taconic Investment Partners purchased 375 Pearl Street from Verizon for a reported $172 million, the deal--as much of a homerun value as it seemed--stoked the curiosity of some brokers who wondered what kind of tenants the building would draw.
"It's north of the Brooklyn Bridge," one broker who does deals downtown told REW in the kind of statement that leasing experts familiar with that area take as self explanatory. The Brooklyn Bridge is considered a border to Lower Manhattan's core office district and anything north of it is thought of as off the beaten track.
It's as much of a psychological barrier as anything else because Pearl Street runs uninterrupted underneath the bridge, meaning the areas north and south aren't actually cut off from one another.
Taconic expects interest from the types of tenants who have come to other parts of downtown seeking value but have been stymied by the district's shortage of available large blocks of office space and the recent uptick in rents for its class A space.
375 Pearl Street, which was a long time home for Verizon offices and a switching station, will be renovated to the point where Taconic says it will essentially be commensurate to ground-up office construction.
In fact, Ari Shalam, Taconic's senior vice president and director of acquisitions, said that the building's overhaul would be similar in scope to the one being conducted by the Blackstone Group on 1095 Avenue of the Americas, Verizon's former headquarters in midtown, which is undergoing a complete makeover.
Like 1095 Avenue of the Americas, among the most dramatic upgrades that 375 Pearl Street will receive is a new glass skin that will eliminate the thin vertical strips of windows and clunky facade that now sheathe the 32-story building and choke off its soaring views.
Shalam said the building could draw tenants in creative industries such as media and publishing that have flocked to downtown neighborhoods in order to escape midtown's soaring rents.
Verizon plans to retain some of its space at 375 Pearl Street in the form of a condo interest on the entire building's 3rd floor so that it can continue to operate a switching station.
This is a reclad I definitely look forward too. Just not green this time, OK?
and no patches of yellow
I know it has been said many times before, I guess, but this is by far the shittiest tower in all of NYC. When ever we look at the WTC from Brooklyn, we'll see this POS. The remake best be good; if the building even looks slightly decent when the remake's complete, NYC's DT skyline from the Brooklyn Bridge angle will be improved ten-fold.
It would be pretty cool if they used the WTC's glass, I think. Not that I want the whole city to be clad in the same glass, but doing it on this building might have a nice bookend effect. With Cook&Fox I would expect to see something in the black-grey-white range, though. Which is better than green!
What can we realistically hope for? It's not like they have much to work with.
^ True. My guess is that whatever sheaths the elevator core will hardly be any better than what it's covered in already.
As for glass color, I could go for 7 WTC's. This building is an ugly, heavy mass, and glass like 7's would make it visually lose tons of weight and keep the eyes from dwelling on it for too long.
yeah, that elevator core is hideous, what were they thinking by facing it right in the view of every person entering Manhattan from the bridge?
You know ^ near Federal Plaza -- in that vast area South of Houston (which nowadays seems to encompass anything downtown)