The digital clock above the west 43rd Street entrance:
That took you all of 11 minutes Lofter.
You must be slowing up.
But I still didn't find the older pre-digital clock
Lofter how about this one, I didn't want to copy and paste because of Copyright.
<a href="http://digitalgallery.nypl.org/nypldigital/id?1558229" title="229 West 43rd Street (Seventh ... Digital ID: 1558229. New York Public Library"><img src="http://images.nypl.org/?id=1558229&t=r" alt="229 West 43rd Street (Seventh ... Digital ID: 1558229. New York Public Library" title="229 West 43rd Street (Seventh ... Digital ID: 1558229. New York Public Library"></a>
Thanks brianac, that's the one -- and that's what they should re-install.
Something doesn't seem right.
No part of the current building, that is, none of the entrances seen here:
resemble this entrance:
The preservationists were less impressed with the clock face, suggesting the design was more appropriate for an upscale department store and encouraging AFIUSA to take “cues from the c.1945 photo that shows a square frame, illuminated Arabic numerals, and illuminated arms.”
Africa Israel is also seeking permission to replace the 45-year-old digital clock over the building’s main entrance with a more traditional timepiece, eight feet in diameter, vaguely recalling an earlier Times clock that was destroyed by fire in 1962.
Lofter I'm wondering how many clocks there have been.
AN, this photo shows entrances that do not resemble either of the above.
I was wondering if the fire of 1962 could have had something to do with the differences.
Last edited by brianac; September 26th, 2008 at 06:51 AM.
Looking closely at the original NYT photo I think you can just make out the clock they were talking about.
The blurred blow up of a section of that photograph shows a square framed clock.
The entry way definitely changed over time (also note the difference in the columns which falnk the doorway -- fluted in the old pic, but flat-surfaced in the more recent one).
Even to its last days as the Times HQ the lobby inside those entry doors was not very large.
VIACOM NEARS LEASE DECISION
November 5, 2008
VIACOM appears to be moving ever closer to firming up where it will call home.
Just last week, sources close to the media giant confided that execs were in "advanced discussions" to lease the entire, nearly 700,000-foot former New York Times Building at 229 W. 43rd St.
CEO Philippe Dauman even toured the funky, loft-like building last Wednesday to check out the renovation underway by owner Africa-Israel.
However, now there are signs that SL Green Realty Corp., the owner of its current headquarters at 1515 Broadway, might be trying to convince the entertainment titan to stay put.
SL Green and Viacom have been having tense negotiations over renewing the 1.3 million feet Viacom currently has at 1515 Broadway.
At issue are the asking rents in the corporate-style headquarters building, which have been sky high along with the rest of the Class A market.
Indeed, a 10-year lease signed last month with Wurk Environment garnered $83 a foot, SL Green Leasing Director Steve Durels said last week in a conference call with Wall Street analysts.
It wasn't too long ago when asking rents were $90 a foot and SL Green execs intimated that they might renew Viacom at around $85 a foot. That didn't sit well with the notoriously penny-pinching company.
As first revealed by my colleague Steve Cuozzo, SL Green is spending $160 million on a stunning renovation of 1515 Broadway.
But as we later reported, Viacom wasn't thrilled with either the design or having to live through the construction.
Still, Viacom might be getting the relief it was seeking by virtue of commercial real estate now being a tenant's market.
Indeed, Class A rents are dropping dramatically, vacancy rates are rising, and as another top broker said yesterday that no jumbo leases have been signed that would signal a bottom for that market.
SL Green CEO Marc Holliday told analysts last week rents are "probably down 10 percent on the nominal rent with a slightly bigger concession package than we would have offered a year ago."
Viacom is also holding a great bet in the beginning of a declining market.
The company could exercise its December option to renew, and if the parties don't agree to the ongoing rents, they will be reset through an arbitration proceeding based on the "fair market value" of comparable rents in 2009 - which so far, are heading downward.
But Viacom could bet they will reach the fully escalated $52 a foot it will be paying at the end of its lease in 2010.
The company can also send some divisions down to 345 Hudson St., where it still has room in the 394,000 feet it signed last year under a 15-year lease. It also has some 278,000 feet of short-term space at 1540 Broadway that is sparsely populated.
Viacom and SL Green declined comment.
Copyright 2008 NYP Holdings, Inc.
NEW LEASE JUST LIKE OLD TIMES
Last updated: 1:00 am
March 11, 2009
Posted: 12:22 am
March 11, 2009
AFRICA Israel USA is lucking out big time.
The company that bought the landmarked old New York Times building at 229 W. 43rd St. has signed its first lease - and it's a whopper.
229 W. 43RD ST. Retail space.
The deal is for a hunk of retail space consisting of portions of the ground, lower level and basement and totals a stunning 59,294 square feet - 4,406 feet on the ground floor, 20,349 feet in the basement and 34,539 feet in a subterranean section.
Sources say other retailers are negotiating for the remaining 121,000 feet, which features entrances on both 43rd and 44th streets.
The lease signed Feb. 11 with TSX Operating is for its Running Subway division, an entertainment group responsible for events like "Dr. Seuss' How the Grinch Stole Christmas," the Rock and Roll Hall of Fame Annex NYC in SoHo and "Bodies. . .The Exhibition" at the South Street Seaport.
Other works are in development.
The space could become a new theater or simply an exhibition space, though permits filed at the Buildings Department don't specify its future use.
Cora Cahan, head of The New 42nd Street, the non-profit that runs revitalized area theaters, said, "If they have tenants or tenants for the retail space on the ground floor that's major news and good news in this climate."
Cahan noted the space previously held The Times' massive printing presses and had very high ceilings but also contained many columns.
The asking rent through Robert K. Futterman & Associates on CoStar was $275 a square foot for the ground floor and $60 a foot for the lower level. The rent on the 52,115-foot basement had been "negotiable."
Futterman repped both sides of the "very" long-term deal.
AI USA bought the building from Tishman Speyer Properties in 2007 for $525 million. Last year it sold a 49 percent interest to China Sonangol, a Hong Kong based investment fund, for $50 million, plus the assumption of half the property's $720 million in debt.
Meanwhile, the Jerusalem Post reported that Africa Israel Investments has written down the value of the 770,000-square-foot former New York Times building by 53 percent, to $315 million, from $671 million in the fourth quarter.
Copyright 2009 NYP Holdings,
March 13, 2009, 12:47 pm
Can’t Place the Name, but the Facade Is Familiar
By David W. Dunlap
David W. Dunlap/The New York Times
The Times Square Building, 229 West 43rd Street, used to house The New York Times.
SLIDE SHOW OF TRANSFORMATION HERE
Members of the real estate community gathered on Thursday to glimpse the newest office lobby in Times Square, while the developers confirmed they had signed up their first tenant. The gathering, sponsored by the Young Development Group to benefit the B’nai B’rith Center for Senior Services in Washington, was in the Times Square Building, 229 West 43rd Street.
Hmmm — 229 West 43rd Street. Sounds kind of like the place we worked in for 94 years. Looks quite a bit like it, too, at least from the outside. But that is where much of the resemblance ends.
AFI USA, a unit of Lev Leviev’s Africa Israel Investments Ltd., bought the former headquarters of The New York Times in 2007, for $525 million, and has since put $175 million into the building. (The Jerusalem Post reported on Tuesday that the building has since lost $380 million in value.)
This is not an easy leasing market for anyone and AFI USA has yet to sign any tenants for the 644,000 square feet of office space it is offering. But it did confirm a report by Lois Weiss in The New York Post on Wednesday that Running Subway Productions, producers of the Bodies exhibition at the South Street Seaport, has taken a “stunning” 59,294 square feet: 4,406 on the ground floor, 20,349 square feet in the former pressroom in the basement, and 34,539 square feet in the sub-basement reel room, where rolls of paper were stored and prepared for printing.
Abby Endres, the marketing director of Running Subway, said on Friday that it would be premature to discuss the company’s plans for the space.
What is certain is that the transformation of the old Times Building will grow only more so in coming years.
Copyright 2009 The New York Times Company
Former Times Building to Be a Hotel and Condos
By CHARLES V. BAGLI
December 22, 2009
Lev Leviev, the Israeli billionaire, made many New Yorkers sit up and take notice when he bought the former New York Times Building on West 43rd Street in 2007 for $525 million, three times what the seller paid for it 30 months earlier.
It was a bold declaration that Mr. Leviev, who planned to spend an additional $170 million transforming the landmark building into a first-class office building, wanted to be a real estate player in New York. It was also a deal emblematic of an era when buyers and bankers imagined that rents and values would soar forever.
Then the market collapsed. Layoffs prevailed. The newly renovated building in Times Square sat mostly vacant, begging for tenants, as Mr. Leviev’s company, Africa-Israel Investments, stumbled under billions of dollars in debt on its worldwide holdings.
Now Mr. Leviev is back with a partner and a new plan to turn the 15-story building, where printing presses once churned out newspapers, into a glamorous three-decker sandwich, with a vertical mall that includes luxury shops on the lower floors, along with exhibition space and a stylish bowling alley and nightclub surrounded by seven restaurants. A high-end hotel with as many as 379 rooms would sit in the middle, and 26 penthouse condominiums on top.
“The strongest thing going for the property is its location and the continued vibrancy of Times Square as a tourist center and a magnet for visitors,” said Richard A. Marin, chief executive of Africa-Israel USA, Mr. Leviev’s American real estate company. The new plan, he said, “will allow us to create the most value and make the greatest contribution to the Times Square neighborhood.”
It is anyone’s guess whether this plan will work any better than the last one, given the soft condo market, competing bowling alleys in the Times Square area and falling hotel rates. But there is no better place for a radical reinvention than Times Square, where peep shows, T-shirt shops and prostitutes have given way to Bubba Gump, the Hard Rock Cafe, theaters, French cosmetics shops, bankers and millions of tourists.
“Times Square has a special kind of alchemy that’ll make your head spin,” said Tim Tompkins, president of the Times Square Alliance, a business group. “Sleazy becomes sexy, a bank becomes a theater, decaying landmarks become multiplexes or luxury condos, and a gritty newsroom and printing plant become a boutique hotel. The only thing you know is that you don’t know what’s next.”
Mr. Leviev, a diamond magnate who travels with a coterie of bodyguards, had been having trouble paying the $711 million in loans he had piled onto the former Times building, which the newspaper occupied for nearly a century before selling it to move to a new tower on Eighth Avenue in 2007.
Mr. Leviev was so intrigued with New York real estate, brokers said, that he did not even tour the building before he bought it.
Mr. Leviev has brought in new managers, including Mr. Marin, and on Tuesday, his company announced that it had completed a restructuring deal, reducing the debt on the property to $267 million. His senior lender, Banco Inbursa, the Mexican bank led by Carlos Slim Helú, has agreed to provide a $75 million revolving loan for the new project. Another lender, Five Mile Capital Partners, emerged as a partner with a 50 percent stake in the building. But most of the other lenders, including Credit Suisse Group and a fund managed by BlackRock, lost most if not all of their money.
Mr. Marin said he had also signed a deal with Bowlmor Lanes, which operates an upscale bowling alley near Union Square, for the third and fourth floors.
The company hopes to open a 50-lane bowling alley in October that will feature an 18-foot bowling pin at the entrance and seven distinct sections, each with a different New York-related theme, including Chinatown and Central Park. Each section will have its own décor, restaurant and costumed waiters and waitresses.
“We plan to create an authentic New York experience on a grand scale that will really be ideal for residents of New York and the corporate event market,” said Thomas Shannon, the founder of Bowlmor Lanes. “It will be spectacular for visitors as well.”
The top three floors of the building would be set aside for condominiums.
Mr. Marin said he was talking to three investors about the purchase or lease of seven floors (5 through 11) for a hotel, whose sky lobby would be on the 11th floor, where there are double-height ceilings and arched windows. Although it is often difficult to turn older office buildings into hotels, Mr. Marin said the space could be divided into about 379 oversize rooms, with rights to put an illuminated hotel sign atop the building.