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Thread: 505 Fifth Avenue - by Kohn Pedersen Fox

  1. #16

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    I really like it! I like how the west facade has two converging angles, and the glass looks beautiful. I don't know if anyone remebers the horrible crap that was on the corner. It was a serious eye sore. This excellent building is a massive improvement.

  2. #17
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    That's a relief, I thought the blander thing was getting built. This is sort of a compromise between that and the original KPF proposal, and the similarity with that original proposal is undeniable.

  3. #18

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    Quote Originally Posted by Gulcrapek
    That's a relief, I thought the blander thing was getting built. This is sort of a compromise between that and the original KPF proposal, and the similarity with that original proposal is undeniable.
    I agree. KPF also designed this building. The glass is just like the one on the original proposal, and the shape has a lot of facets. One that's not clear in the photos is the huge facet on the 42nd Street side of the tower. It looks excellent!

  4. #19
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    And something I forgot to note before: the open cantilever is interesting.

  5. #20

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    Quote Originally Posted by Gulcrapek
    And something I forgot to note before: the open cantilever is interesting.
    Do you mean the facade on the 5th Ave. side or are you referring to the open space on the corner of 5th and 42nd. That is cool!

  6. #21
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    Great design!

    but I think that it should have been more taller...especially since it is in that amazing corner.

  7. #22

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    April 21, 2004

    REGIONAL MARKET

    Offices Rising Across From Library's Lions

    By EDWIN McDOWELL


    Kohn Pedersen Fox is the architect for 505 Fifth Avenue, which is at the corner of 42nd Street.

    Construction of a 27-story glass and concrete building has begun at the northeast corner of 42nd Street and Fifth Avenue - on a lot vacant for more than a decade that once held the mansion in which Edith Wharton made her society debut in 1879.

    The building, whose address will be 505 Fifth Avenue, is being developed on three building lots by Kipp-Stawski, the development and property investment company. It will have about 275,000 square feet of space, mainly offices.

    By acquiring unused development rights from adjacent properties for about $2.5 million, Dr. Axel Stawski, a partner in Kipp-Stawski, said the company was able to add a floor, the 27th, to the building.

    Kipp-Stawski is not the first developer to have its eyes on those lots, which are two blocks from Grand Central Terminal and diagonally across Fifth Avenue from the main branch of the New York Public Library. "We looked at that site for quite a few years," Dr. Stawski said, "but for various reasons it was inappropriate because we were involved with other construction projects."

    Eventually they bought the land from an entity controlled by Lehman Brothers for about $43 million, he said. The entire project is expected to have a cost of about $140 million.

    In an unusual strategy in today's market, the building is a speculative venture; unlike most developers, who will not build until they have signed up tenants, Kipp-Stawski has started construction without having signed leases from tenants.

    "We build first and then we look for tenants," said Dr. Stawski, who was born in Germany, came to the United States in 1971 and earned a Ph.D. in international law from New York University in 1978. "We hope the quality of our buildings will attract the tenants."

    Dr. Stawski drew a distinction between this approach and that of developers of properties like the one the Durst Organization plans to build a block west, at 42nd Street and the Avenue of the Americas. It will be a 2.1-million-square-foot building with the Bank of America as the anchor tenant.

    "Buildings that are preleased require a fairly large tenant, and those tenants characteristically plan several years ahead," Dr. Stawski said. "We don't accept such tenants, nor will we, because large tenants tend to move out in a down market, and that's not a risk we're willing to take."

    Kohn Pedersen Fox Associates has designed 505 Fifth Avenue, and the contractor is Pavarini McGovern. "What's really special about this site in New York," said Paul Katz, the Kohn Pedersen Fox principal in charge of the project, "is that most smaller buildings tend to be enclosed by the neighboring blocks. But this building opens out and has a wonderful vista over one of the most important intersections, 42nd Street and Fifth Avenue, and one of the greatest buildings, the New York Public Library."

    The lot has been vacant since the 1990 demolition of the six-story former mansion of Levi P. Morton, who had been both governor of New York and vice president of the United States from 1889 to 1893.

    In the 1980's, the Touko America Company, a subsidiary of the Touko Haus development company of Tokyo, planned to build an office tower on the site. But when the real estate market collapsed in the early 1990's and Japan underwent a recession, Touko lost the properties and its $41 million investment.

    Paul N. Glickman, the executive vice president of Cushman & Wakefield, the agent for the building, said that the lot had subsequently traded hands many times.

    The building is expected to be ready for tenants to start their interior work in late 2005 or early 2006. There will be about 20,000 square feet of retail space in the building's ground floor, first floor and basement, said Robert K. Futterman, chief executive of the concern that bears his name, who represents the retail portion of the building.

    Copyright 2004 The New York Times Company

  8. #23
    Forum Veteran krulltime's Avatar
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    Good news!

  9. #24

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    Construction of a 27-story glass and concrete building has begun at the northeast corner of 42nd Street and Fifth Avenue - on a lot vacant for more than a decade that once held the mansion in which Edith Wharton made her society debut in 1879. 26 June 2004.


  10. #25

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    Man, that's one huge crane.

  11. #26

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    Quote Originally Posted by Eugenius
    Man, that's one huge crane.



    Hummer Schmummer!

  12. #27
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    I went by the site today and saw them pouring the concrete foundation.

  13. #28
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    Just wondering if this building is out of the ground yet?

  14. #29

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    It's several floors above the ground, and one can already see the amazing curves and facets that this building will have. It appeared from the rendering that it would have some interesting facets on the west and south facades, and they're visible on that part of the structure which has risen thus far.

    If you're in Midtown, I recommend walking by this building. It's going to be a great addition to the area. You can also walk by the site of the new 45 story condo that will down the street at 34th and 5th!

    I'm excited about this great little building!

  15. #30

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    Quote Originally Posted by Gulcrapek
    That's a relief, I thought the blander thing was getting built. This is sort of a compromise between that and the original KPF proposal, and the similarity with that original proposal is undeniable.
    It is actually that same bland design just in a pretty rendering and skewed.

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