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

  1. #46
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    Default Promising sign at Milstein site

    This thing was *out of the gate like a flash and now seems to languish. *Was there a reason Milstein had to break ground on the project quickly? Did breaking ground early entitle him to special bonds or funding that he wouldn't have received otherwise?

  2. #47
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    Default Promising sign at Milstein site

    The problem with this site is that Milstein wants a Trophy tenant that will have its name on the building and take up atleast half of the office space built. *His best bet in badd times like these is to chase smaller leases and fill the building up that way. WIth the current state of the NYC economy, not many large companies are willing or able to take on vast real estate projects right now.

  3. #48
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    Default Promising sign at Milstein site

    I bet he thinks he's gonna land a law firm.

  4. #49
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    Default Promising sign at Milstein site

    If it's not purely a speculative tower and financing requires a major tenenat, why break ground? Hope this doesn't wind up likethe Alexander's site - empty for years....

    (Edited by BrooklynRider at 9:20 am on Aug. 26, 2003)

  5. #50
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    Default Promising sign at Milstein site

    Milstein could build this tower with no financial backing. *Your talking about an extremely wealthy group.

  6. #51
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    Default Promising sign at Milstein site

    I know enough to know that the extremely wealthy NYC Development families NEVER spend there own money. *They are more like movie producers pulling in all the players and specialties needed to create the building. *They would never put their personal wealth on the line.

  7. #52
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    Default Promising sign at Milstein site

    He has already said he could make money just by having the signage, parking and retail stores on the base level without any office tenants, Times Square buildings are like that, case in point Times SQuare Tower, it will open half empty.

    If no tenant is found by the end of the year, the architect has been told to redesign the building as a residential tower

  8. #53
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    Default Promising sign at Milstein site

    Would it be just an interior re-design or exterior as well. *I kinda like the design - very Time Square-y.

  9. #54
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    Default Promising sign at Milstein site

    Just interiors, the whole MEP systems of an office building and a residenital building is different

  10. #55
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    Default Promising sign at Milstein site

    Quote: from BrooklynRider on 9:19 am on Aug. 26, 2003
    If it's not purely a speculative tower and financing requires a major tenenat, why break ground? Hope this doesn't wind up likethe Alexander's site - empty for years....
    Albeit not so huge a site, thankfully.

  11. #56

    Default Promising sign at Milstein site

    Kliq, sorry to be dumb, but what is MEP?

  12. #57
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    Default Promising sign at Milstein site

    Mechanical, electrical and plumbing

  13. #58
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    Default

    I heard today that the NYS Economic Development Corpp is going to remove the Milsteins from this project and reawarded the site to a new devloper

  14. #59
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    Default

    Really, wow. You get good scoops, kliq6, thanks for sharing.

  15. #60
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    it helps to work for a NYC developer

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