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Thread: Baccarat Hotel and Residences - 20 W53rd St -

  1. #46
    Senior Member DUMBRo's Avatar
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    Hines is unloading some property in Houston. Hopefully some of that money can be used to get both 7 Bryant and Torre Verre going.

  2. #47
    Fearless Photog RoldanTTLB's Avatar
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    7 Bryant park is U/C.... I walk by once a week or so and they've been digging furiously for some time. It's not their money they are short of, it's other people's. That's how real estate works. Rule #1: Do not build with your own money what you could build with other's.

  3. #48
    Fearless Photog RoldanTTLB's Avatar
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    Also, this building, and to an extent 50 UN plaza, are really high 80s style. They're like the Darkness (band). Interesting for being utterly out of their time. What I don't understand, I guess, is why it's so ok to love something like 15CPW, a building that is, externally, not at all of its time, but to not like this or 250w55th. I think if you're a fan of pure international style skyscrapers, then go for it. And frankly, if you like every tall build Trump has ever erected in NYC, than this building is clearly up your alley, and that's fine too.

  4. #49

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    7 Bryant Park is very nice and replaces crap. I really hope that Verre gets built. So many projects are getting financing, including Starlicht's "Baccarat" POS, and therefore, I am concerned that TV, which would be one of the greatest towers in the world, will not rise.

  5. #50
    Senior Member DUMBRo's Avatar
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    Quote Originally Posted by RoldanTTLB View Post
    7 Bryant park is U/C.... I walk by once a week or so and they've been digging furiously for some time. It's not their money they are short of, it's other people's. That's how real estate works. Rule #1: Do not build with your own money what you could build with other's.
    Thanks for that. I wasn't sure if 7 Bryant had gone out of the ground yet. And while you're right about that "Rule #1", developers have moved forward with their own financing before to get things started. Hines is doing just that at their Riverpoint Tower in Chicago which has yet to sign an a tennant.

  6. #51
    Fearless Photog RoldanTTLB's Avatar
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    1.) Not a zero sum game.
    2.) Government workers in Oregon need to retire someday, and there aren't many construction projects there to invest in at the moment.

    Besides, I thought Verre has already secured financing and was being bid out for superstructure construction as we speak.

    For as hot as the market is, I'm looking forward to some new announcements. Everything going on right now is stuff being rehashed from the last time the market was hot. If the build cycle in NYC is really this long, it's no wonder housing is unaffordable. Do people have any idea of the holding costs on a developer when it takes this long to get bodies in apartments? Ouch. I wouldn't want any part of that.

  7. #52

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    Thanks for the info, Roldan. I think that Irish also mentioned that it was being bid in another thread. However, I don't understand the significance of that. For example, is this something that happens before or after financing is secured? Hopefully, after, and this will start rising in 2013.

    As far as Baccarat goes, I wouldn't hate it if it replaced a parking lot in a lousy area like Broadway and 28th Street or 11th Ave and 40th St., but this prime area deserved something much better than an uninspired black box.

  8. #53
    Fearless Photog RoldanTTLB's Avatar
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    Generally bids are only good for a limited period of time, so it usually means something is to happen soon. I believe 56 Leonard was bid last summer, and is being built now, if that gives any timeline to it.

    As for uninspired black boxes, since there are only 2 of them under construction (off the top of my head, here and Sutton Place 2), I don't find the ratio to be nearly high enough compared to budget hotels. I'd take this Baccarat tower any day over the 3 Holiday Inns they could have built here as in Koreatown.

  9. #54

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    Thanks, Rolda n.

  10. #55

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    Quote Originally Posted by londonlawyer View Post
    It is very sad to see this piece of garbage rising, and Torre Verre's site utterly inactive.
    NY YIMBY seems to disagree - "welcome addition to 53rd Street, which is currently dominated by office towers"

    http://www.newyorkyimby.com/2013/02/construction-update-20-west-53rd-street.html

  11. #56

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    I don't dispute his right to disagree. I think that an unimaginitive box in this prime spot is a waste. Hopefully, Verre will rise this year.

  12. #57

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    Can we change the thread to Baccarat Hotel & Residences + the address.

    Lots of pictures and renderings here:
    http://www.buzzbuzzhome.com/baccarat...idences/photos


  13. #58

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    Thread title updated.

  14. #59
    Fearless Photog RoldanTTLB's Avatar
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    This is going to be a really excellent spot to run an ultra high-end escort service out of. Everyone want to go splitsies?

  15. #60

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    As long as I get to go first.

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