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Thread: 505 Fifth Avenue - by Kohn Pedersen Fox

  1. #196

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    Precedents aren't good. Remember how cr*ppy the corner was before? And that was tolerated for years and years---maybe even decades.

    It's one of the benefits of a full-block building---you don't get this nonsense.

    Quote Originally Posted by ablarc
    What a prominent corner on an elegant avenue; should this be tolerated here?

  2. #197

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    Sure enough, better than before. In Boston they say, "better than a parking lot." Do we need to operate at that level and accept it?

    And do we really need to occupy a whole block --with its attendant scale issues-- in order to correct a problem that could be fixed by a guy with a trowel?

  3. #198

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    "It's one of the benefits of a full-block building---you don't get this nonsense".

    Please.

    No one who loves and understands NY, no one with a sense of history and culture would want to see the small historic buildings on this block of 5th avenue torn down en masse. The building that was at that corner was actually out of place and deserved to be replaced with something like this. Im thankful that NY has preserved much of its history....as a result, the city has class and is infinitely more beautiful than a Dallas, Houston or Atlanta.

  4. #199

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    Quote Originally Posted by Fabrizio
    "...as a result, the city has class and is infinitely more beautiful than a Dallas, Houston or Atlanta.
    And also more usable.

  5. #200

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    Quote Originally Posted by Fabrizio
    "It's one of the benefits of a full-block building---you don't get this nonsense".

    Please.

    No one who loves and understands NY, no one with a sense of history and culture would want to see the small historic buildings on this block of 5th avenue torn down en masse. The building that was at that corner was actually out of place and deserved to be replaced with something like this. Im thankful that NY has preserved much of its history....as a result, the city has class and is infinitely more beautiful than a Dallas, Houston or Atlanta.
    I agree. The two little buildings north of 505 Fifth are beautiful and tearing them down would have been a crime. The same holds true with the adjacent building on 42nd Street that was owned by the Greek government and is now the Taiwanese cultural office. There was speculation at one point that it would be acquired, demolished and the site would have been incorporated into 505 5th. Fortunately, that did not occur, and the Taiwanese restored the building magnificently.

    PS: NY has far more old buildings than the cities that you mentioned, but it is also a much older city. Remember, NY has been a city since the 1620's.

  6. #201

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    10-30-05
    Last edited by Derek2k3; October 31st, 2005 at 09:30 PM.

  7. #202

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    505 Fifth Avenue - the view from Top of the Rock - observation deck in Rockefeller Center. 29 October 2005.


  8. #203
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    What's up with that blank wall? Must have ran out of glass.

  9. #204

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    I actually like the articulation of the blank wall, I prefer it over the banal front of the building.

  10. #205
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    No matter what its better then what was there and is almost fully leased

  11. #206

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    I love this building. It seems like there are real limits as to what can be achieved with such a small tower, and yet, this building achieves a lot. It has so many angles and nice glass. While LVMH is the masterpiece for small buildings and is in a league of its own, this one is quite good in my opinion.

    PS: Did anyone see the following article in the Post? The sale of air rights from the magnificant Scribner Building could lead to redevelopment of some of the sh..it that infests 5th Ave. in the 40's.

    FIFTH AVE. PAIR TO FETCH $80M

    By LOIS WEISS
    --------------------------------------------------------------------------------
    UP IN AIR: 597 Fifth Ave. (above) has been put on the market by Benetton.
    Photo: N.Y. Post: Luiz C. Ribeiro
    Email Archives
    Print Reprint



    December 7, 2005 -- Between The Bricks


    THE former Scribner's bookstore building is on the market.

    The seller, clothier Benetton, previously moved to 601 Fifth Ave., which it is keeping.

    But it is also selling the 12,000-square-foot 3 E. 48th St., which has P.J. Moran's and Alvin Flusser as retail tenants.

    The Scribner's Building at 597 Fifth Ave. is now inhabited by facial fluffer Sephora, on a 2-year-old lease that continues for another eight years.

    Offices and showrooms take up the floors above the landmarked retail space.

    Between the two buildings is another 50,000 feet of air rights, which according to landmark rules, can be transferred to other places, including across Fifth Ave.

    The Landmarks Commission previously gave the building the right to punch holes — like doorways — between the adjacent buildings in the event someone wants to combine the spaces.

    The package is expected to sell for around $80 million, largely based on the retail lease.

    "There will be someone who can make use of all the value components, and that person will be our buyer," said Nat Rockett of Jones Lang LaSalle who is marketing the property along with co-worker Mark Marasciullo.

    In another deal, Rockett and Tom Beneville of JLL closed the sale of the 17-story former REBNY building at 12 E. 41st St.

    A pension fund sold it to the Berkeley College School for $34.3 million in late October.



    *

    Dennis Riese just bought back the T.G.I.Friday's building at 1552 Broadway — one of his family's previously owned pieces — for $48 million, or about $3,200 a foot.

    In 1999, during a massive restructuring, Northstar had bought the 46th St. property along with 729 Seventh Ave., and then leased them back to the family company, National Restaurant Management, developed by the late Murray Riese.

    Dennis, now chairman of the Riese Organization and Murray's son, also bought back the retail condo at 729 7th Ave. last June.



    *

    The El-Ad Group, owner of the Plaza Hotel, is moving on uptown from the Flatiron District.

    It signed a 10-year sublease for 20,547 feet at 575 Madison Ave. comprising the 22nd and 23rd floors.

    The company, led by Miki Naftali, will move from 225 Fifth Ave., which it is converting to residential condos.

    Cushman & Wakefield brokers Mark Mandell and Yoav Oelsner represented El-Ad in its search and lease negotiations with the sublandlord, Katten Muchin Rosenman.

    Murray Hill Properties' Bruce Goodman represented Katten Muchin Rosenman.
    Last edited by londonlawyer; December 7th, 2005 at 09:58 AM.

  12. #207
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    50,000 sf wont lead to much believe me

  13. #208

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    This building blows.

  14. #209
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    Default Well, if nothing else, at least 505 solidified the block...

    GLASSY BUILDING CLASSES UP NABE

    By STEVE CUOZZO
    http://www.nypost.com/realestate/comm/59117.htm

    December 20, 2005 -- ALL it takes is one good new project to turn a swath of cityscape around.
    Ever since Axel Stawski's glass-wrapped office building went up at 505 Fifth Ave., the blocks adjoining the once-miserable northeast corner of Fifth and 42nd Street have taken off.

    The corner, long home to a tacky flea market and an empty lot, blighted the area for decades. The Stawski project overlooking Bryant Park is not the only reason for new activity nearby, but it certainly doesn't hurt.

    The most visible evidence of change for the better is the arrival of the new Taipei Economic and Cultural Office next door at 1 E. 42nd St., where the long-empty and formerly filthy 11-story building has been spiffily cleaned up.

    And the investment sale market nearby is going wild, with a quartet of solid addresses on the avenue's east side between 42nd and 45th streets about to change hands.

    Sources say insatiable developer/investor Joseph Moinian has signed a $260 million contract to buy three prewar office buildings with plenty of store frontage — Nos. 509, 535 and 545 Fifth — from institutional owners Emmes and Apollo.

    The so-called Zeus portfolio totals more than 595,000 square feet of office and retail space, with the lion's share of office space — 319,000 feet — at 535 Fifth.

    Nos. 535 and 545 comprise a rare full blockfront on the avenue. The buildings are 90 percent leased following $42 million in capital improvements over the past nine years.

    The deal was brokered by Cushman & Wakefield's Richard Baxter, who declined comment.

    Meanwhile, publicly traded SL Green appears on the brink of buying 521 Fifth, the 1929-vintage tower between 43rd and 44th streets, from RFR Holdings. Sources said a sale contract has been signed for an unspecified amount.

    If the deal goes through, it would be a blast from the past for SL Green, which in recent years has been increasingly focused on modern, Class-A properties rather than the older Class-B ones in which company founder Stephen L. Green specialized.

    RFR's brokers, CB Richard Ellis's Darcy Stacom and Bill Shanahan, did not return calls. Reps for SL Green and RFR declined comment.

  15. #210
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    The most visible evidence of change for the better is the arrival of the new Taipei Economic and Cultural Office next door at 1 E. 42nd St., where the long-empty and formerly filthy 11-story building has been spiffily cleaned up.
    Sooo true. Check out the before and after (pay particular attention to the building behind 505).

    Before . . .




    . . . and now after


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