Page 3 of 79 FirstFirst 12345671353 ... LastLast
Results 31 to 45 of 1185

Thread: Times Square Plaza - 11 Times Square - 42nd St @ 8th Ave - by FX Fowle Architects

  1. #31
    Forum Veteran
    Join Date
    Jan 2003
    Location
    Garden City, LI
    Posts
    1,778

    Default Promising sign at Milstein site

    Nice!!! A 34th storey restaurant, hopefully overlooking 42nd and TS. *

    NICE JOB. *I love when planning includes such great amenities like that.

    Now, if we can only get W on the W back.

  2. #32

    Default Promising sign at Milstein site

    Isn't there supposed to be a parking garage as part of the building?

  3. #33
    Senior Member
    Join Date
    Oct 2002
    Location
    NYC - Hoboken
    Posts
    269

    Default Promising sign at Milstein site

    There does not look to be one. *However there will be another empty lot next to the building on 41st (see how the building is L shaped). *A good map to see this is the one Just Rich posted a ways back
    http://www.wirednewyork.com/forum/to...&topic=253

  4. #34

    Default Promising sign at Milstein site

    I thought the building was L-shaped because the plot was L-shaped. *On the other hand - the L seems to be facing in the wrong direction, so maybe there will be an empty lot after all.

  5. #35

    Default Promising sign at Milstein site

    There is no empty lot and the floor plan views are from the South not from the West.

  6. #36
    Banned Member
    Join Date
    Dec 2002
    Location
    Park Slope, Brooklyn, NY
    Posts
    8,113

    Default Promising sign at Milstein site

    Very inspiring. They have lively posters with renderings at 41st & 8th and 42nd & 8th. *I have to admit I am extremely excited to see this one proceed.

  7. #37

    Default Promising sign at Milstein site

    I havent really had a chance to get to construction sites recently. But I snapped this one from the ESB cam.



    Construction is underway.

  8. #38

    Default Promising sign at Milstein site

    Howard and Edward Milstein are building the 850,000-square-foot building, 11 Times Square, which will combine office space, street-level stores and possibly apartments on a parking lot at the southeast corner of 42nd Street and Eighth Avenue. New York Times Tower will replace the white 3-story building on 41st Street. 10 May 2003.


  9. #39
    Banned Member
    Join Date
    Dec 2002
    Location
    Park Slope, Brooklyn, NY
    Posts
    8,113

    Default Promising sign at Milstein site

    Those trucks haven't moved in a month. *Anyone know what the delay is?

  10. #40

    Default Promising sign at Milstein site

    If Milstein doesn't find an office tenant in 6 months he's going to build a residential tower. *It also seems that they might build the same KPF designed 505 Fifth Avenue. thread here \http://www.wirednewyork.com/forum/to...4&topic=27

    From Globe St.
    \http://www.globest.com/RMITIDQSQGD.html

    REBNY Members Discuss Spec Development in NYC
    By Diana M. Rodriguez
    Last updated: Jun 12, 2003 *02:53PM

    NEW YORK CITY-With unemployment rates still high and the stock market still low, new construction, nationwide, has virtually come to a standstill. Yet, amidst all the negative performance figures, three real estate developers got together yesterday to explain their decisions for going forward with speculative developments here.
    At a Real Estate Board of New York luncheon, held at the Waldorf=Astoria, Veronica Hackett, partner of the Clarett Group; Howard P. Milstein, managing partner of Milstein Properties; and Dr. Axel Stawski of the Kipp-Stawski Management Group, answered questions from moderator Warren Heller, executive managing director of Insignia/ESG, on the state of their respective development projects.

    While both are building office properties, Stawski and Milstein are taking dramatically different approaches to filling their speculative space. Stawski's 253,000-sf building at 505 Fifth Ave., in the Grand Central Station district, is seeking 8-20 small leases to fill its floors. Conversely, Milstein is looking for one major office tenant to put its name on the Times Square property and occupy the entire 850,000-sf building.

    Located at 42nd Street and Eighth Ave., Milstein's project is already in the excavation process with construction expected to begin in about six months. However, he admits that if no major tenant is found by the time of the ground-breaking ceremony, his company will consider building an apartments rather than offices.


    "A Times Square building is not a standard building," he explained. "The retail there is valuable, the signage is valuable and the parking is valuable. You can get about $12 million exclusive of the apartment or office [leases]." He added that the property also marks the last piece of the Time Square redevelopment project.

    Having had a previous bad experience with a major office tenant, Stawski now tries to look for diversity in his buildings to avoid dependency on major lessees. "We had a 300,000-sf building, where a 50,000-sf tenant left. We lost a significant amount of cash flow," he explained. "Now, I don't like big tenants because they always move out at the wrong time…We don't want our building to go down the drain with our tenants, so we stick to smaller leases."

    Speaking for a different industry, Hackett detailed her development plans in the multifamily sector. In December, the Clarett Group sold its interest in two buildings that it had under a joint venture with Post Properties in order to form a new JV with Prudential, she said. Now, the residential development partners are looking at space here on 107th Street and Broadway.

    "We purchased the property and expect the condos there to be ready in early 2005," she stated, noting the deal is not yet finalized.

    Despite the poor job market, Hackett is convinced that Big Apple real estate will survive the downturn. "We look over 30 years. Supply has historically been low here," she remarked, noting there will be a need for new multifamily products when the economy turns around.

  11. #41

    Default Promising sign at Milstein site

    Great article Derek - I hope Milstein finds it's tenant. I'm not a fan of the new apartment towers in the area, but if the design is the same for either possible use, that would be fine with me!

  12. #42
    Banned Member
    Join Date
    Dec 2002
    Location
    Park Slope, Brooklyn, NY
    Posts
    8,113

    Default Promising sign at Milstein site

    Anyone know how long that site was a parking lot? What was there before? *I can't recall anything there in my lifetime. *Am I not remembering?

  13. #43

    Default Promising sign at Milstein site

    From The NY Post
    \http://www.nypost.com/realestate/987.htm

    GARGANO NOT SOLD ON MILSTEIN CONDO FLIP

    By LOIS WEISS

    June 12, 2003 -- The long-dormant plot on the northeast corner of Eighth Avenue and 42nd Street could give rise to luxury condominiums rather than a 1.1 million-square-foot office tower, its developers said yesterday.
    Howard and Edward Milstein, who bought out their family and partner's interests just two years ago, are exploring options other than an office tower there, Howard told the Real Estate Board of New York at its luncheon yesterday.

    Charles Gargano, the chairman of the Empire State Development Corp. told The Post he had not heard the Milsteins were considering apartments. "That's not what he's told us," Gargano said after leaving a Landmarks Conservancy lunch where he was honored.

    Speaking on a panel at the Waldorf-Astoria, Howard Milstein said his firm doesn't need an office tenant to start construction, but could carry the site merely with its retail, parking and lucrative signage income.

    But such use is contrary to what the city and Empire State Development Corp., which must grant the zoning variance for the large office structure, want there under the Times Square master plan.

    Milstein has had trouble rounding up an anchor office tenant, but a REBNY audience member scoffed at the notion of luxury units there, asking, "Do you really want to live opposite the Port Authority Bus Terminal?"

  14. #44

    Default Promising sign at Milstein site

    Even if it was residential, which would be a bad thing, because the city could always use more apartments, would Milstein still keep the design the same???

  15. #45
    Forum Veteran
    Join Date
    Jan 2003
    Location
    Garden City, LI
    Posts
    1,778

    Default Promising sign at Milstein site

    Maybe this could be apartments or mixed use and that'll get the PA tower built - that would be nice to look at, further (and greatly) enhancing the area.

Page 3 of 79 FirstFirst 12345671353 ... LastLast

Similar Threads

  1. New Year in Times Square
    By Edward in forum New York City Guide For Visitors
    Replies: 33
    Last Post: November 16th, 2013, 05:29 AM
  2. Toys R Us Times Square
    By noharmony in forum New York City Guide For Visitors
    Replies: 2
    Last Post: December 2nd, 2008, 10:37 PM
  3. W New York - Times Square Hotel
    By hyperfine in forum New York City Guide For Visitors
    Replies: 9
    Last Post: January 18th, 2005, 08:55 PM
  4. Times Square 2002 Celebrations Part I
    By Edward in forum Photos and Videos of New York
    Replies: 0
    Last Post: December 31st, 2001, 11:39 PM
  5. Pictures of luxurious W Hotel - Times Square
    By Edward in forum New York City Guide For Visitors
    Replies: 0
    Last Post: December 29th, 2001, 12:36 AM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


Google+ - Facebook - Twitter - Meetup

Edward's photos on Flickr - Wired New York on Flickr - In Queens - In Red Hook - Bryant Park - SQL Backup Software