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Thread: Marc (formerly 900 Eighth Avenue/The Regent Tower)

  1. #1

    Default Marc (formerly 900 Eighth Avenue/The Regent Tower)

    From Moinian Group website:

    Real Estate in Manhattan is all about location, location, location and The Moinian Group’s new Regent Tower couldn’t fit the bill better. *Located on Eighth Avenue and taking up one full block, from 53rd Street to 54th Street, The Regent *exemplifies one of the City’s fastest growing residential neighborhoods.

    A 52-story, 570-unit luxury residential high-rise development, The Regent Tower is designed to be a full-service, white glove, doorman building in the heart of Manhattan’s West Side. *Designed by renowned architect, Frank Williams, The Regent Tower will boast a modern, sleek look with units ranging from studios to 2-bedroom apartments. All apartments will be fully equipped with state-of-the-art amenities, including kitchen appliances, lighting and bathroom fixtures and adornments. Walls of windows allow natural light to flood each apartment and breathtaking views of Central Park and the Hudson River are to be enjoyed and never missed.

    In walking distance to major modes of transportation, this new residential development is truly central and convenient to all of Manhattan’s neighborhoods. Residents can walk to subway lines including the A,C,E,1,2,3,9,N,R and the Times Square shuttle to Grand Central Station. The 57th Street Cross town and Uptown/Downtown bus stop is only blocks away and of course, the building’s doorman can always hail a cab.

    Only steps away from the lights and sights of the theater district, the famous Restaurant Row, bustling night-life hot spots including Studio 54 and The Supper Club and in close proximity to Columbus Circle and Central Park, residents of this new luxury high-rise development will be surrounded by all that makes Manhattan the greatest City in the World.

  2. #2

    Default 900 Eighth Avenue (The Regent Tower)

    The site of 900 Eighth Avenue tower on 18 September 2002. AOL Time Warner Center is rising beyond, with the Central Park Place and Trump International Hotel & Tower on the right. This view of AOL Time Warner will soon be blocked by a crystal tower of Hearst Magazine Building.

  3. #3

    Default 900 Eighth Avenue (The Regent Tower)

    Construction of The Regent Tower goes ahead on 10 November 2002. Worldwide Plaza condominium on the right.

  4. #4

    Default 900 Eighth Avenue (The Regent Tower)

    That design is so perfectly nauseating. I've already posted this in Real Estate because I couldn't imagine there was something in the architecture section.

    November 15, 2002
    42-Story Rental Tower to Rise on 8th Avenue

    Workers are laying the foundation for a 42-story rental building that will fill the block on the east side of Eighth Avenue between 53rd and 54th Streets. The project continues the influx of apartment towers along the avenue in the West 40's and 50's.

    The building, at 900 Eighth Avenue, is being developed by the Moinian Group of Manhattan and will have 393 apartments. Also planned are a four-story, 550-car garage, which will replace a city-owned garage that once occupied the site, and 10,000 square feet of street-level stores.

    The building will join three rental buildings completed since 1997 on or near the corner of West 50th Street and Eighth Avenue, together totaling 945 apartments.

    There are other projects under way on Eighth Avenue or planned nearby. One is the Biltmore, a 51-story structure with 464 rental units that the Jack Parker Corporation and the Moinian Group are building at the northeast corner at 47th Street, next to the Biltmore Theater.

    Another developer, Harwood Properties, is in the early planning stages for a residential building on the southwest corner of 44th Street and Eighth Avenue that would include a garage for 436 cars.

    Under current zoning, a City Planning Department spokesman said, a 25-story, 241-apartment structure could be built on that site without any special permits. The developer, however, has indicated that he plans to seek permission for a structure of up to 28 stories, with 317 apartments.

    The development of the AOL Time Warner residential and office complex on the old New York Coliseum site to the north and the revival of 42nd Street to the south have bolstered developer interest in Eighth Avenue. The new residential towers sit where parking garages, X-rated movie houses and tenements had dotted the avenue, considered the dividing line between Times Square and Clinton.

    Joseph Moinian, chief executive of Moinian, said the potential of the once-seedy avenue factored into his decision in 1997 to buy the 900 Eighth Avenue site. He acquired it along with development rights from an abutting structure for $34 million from an earlier developer.

    In the intervening years, the Moinian Group ran the formerly city-owned garage while it sought financing and approvals for the apartment building. Because of the development rights, the building will be seven stories taller than zoning would have originally allowed. The developer also got a special permit from the city to build a garage as big as the old one.

    Mr. Moinian, like most other rental developers in or near the Eighth Avenue corridor, is building a so-called 80-20 project. In return for the developer's keeping 20 percent of the apartments affordable to low- and moderate-income tenants, the city or state issues bonds to provide low-rate mortgages to developers, who are also eligible for, among other things, a 20-year tax abatement from the city.

    The Moinian Group got $136.5 million from the New York State Housing Finance Agency and a letter of credit from KeyBank, said Richard Bassuk, president of the Singer & Bassuk Organization, a mortgage brokerage in Manhattan and the developer's financial adviser.

    Andrew S. Heiberger, president of Citi Habitats, a residential brokerage, said that rents had leveled off in the area and that vacant apartments were starting to accumulate. Average rents in buildings in the West 50's are $47 a square foot annually, or $2,662 monthly, for a typical 680-square-foot, one-bedroom, Mr. Heiberger said, with rents in the West 40's at 10 to 15 percent less.

    At the Biltmore, leasing is expected to start in February, said Kimberly Cafaro, a vice president at Jack Parker. The average rents for the studio to two-bedroom units are to be $1,900 to $3,900 a month.

    Mr. Moinian said rents at 900 Eighth Avenue, which is to be completed in early 2004, had not been set. The studio, one- and two-bedroom apartments will have 600 to 1,200 square feet. Amenities planned at the building, designed by Frank Williams & Partners Architects of Manhattan, include a health club and a fifth-floor landscaped terrace. HRH Construction is the project's construction manager.

    Copyright The New York Times Company

  5. #5

    Default 900 Eighth Avenue (The Regent Tower)

    Nauseating is the right word for it Christian! After all the crazy proposals and construction on 8th Ave, this is a disappointment. When I make it big and live in the city, I'm gonna make sure I either design my own apartment tower or live in one that is more than just a cookie-cutter clone.

  6. #6

    Default 900 Eighth Avenue (The Regent Tower)

    It's not that bad.
    I like the top of the tower.

  7. #7

    Default 900 Eighth Avenue (The Regent Tower)

    no this building sucks. Im glad it will not rise 52 floors.

  8. #8

    Default 900 Eighth Avenue (The Regent Tower)

    I think that the most obviously annoying part of the building in the rendering is the ugly yellow color. *However, oftentimes, these buildings are build with a different color scheme. *This one might not be so bad after all.

  9. #9
    Moderator NYatKNIGHT's Avatar
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    Oct 2002
    Manhattan - South Village

    Default 900 Eighth Avenue (The Regent Tower)

    From the street it's going to be all parking garage.

  10. #10

    Default 900 Eighth Avenue (The Regent Tower)

    Look on the bright side. Parking in the city is never free. Expect the same usual high rates, which is one reason why so many take mass transit to the area. The fees will be maddening but will also bring in plenty of good money for the city and for the parking lot owner.

  11. #11
    Forum Veteran
    Join Date
    Nov 2002
    New York City

    Default 900 Eighth Avenue (The Regent Tower)'s not necessarily hideous IMHO; it just looks very mediocre.

  12. #12

    Default 900 Eighth Avenue (The Regent Tower)

    I'm fine with least it doesn't look like another brown brick building.

  13. #13

    Default 900 Eighth Avenue (The Regent Tower)

    lol, this is true, i will say it will be close to 500 feet, it will not totally stick out in the area, but fill in a few gaps when it is completed.

  14. #14

    Default 42-Story Rental Tower to Rise on 8th Avenue

    can someone estimate a height for me, i would say around 500 feet right????

  15. #15

    Default 900 Eighth Avenue (The Regent Tower)

    Frome Globe St. com

    Moinian's 80/20 Project Secures $136.5M in Bond Financing
    By Glen Thompson
    Last updated: Nov 19, 2002 *03:08PM

    NEW YORK CITY-The Moinian Group has received $136.5 million in construction financing for its 393-unit, 80/20 residential project known as 900 Eighth Ave. The low floater, tax-exempt and taxable bonds were issued by the New York State Housing Finance Agency. Singer & Bassuk Organization arranged the credit enhancement with KeyBank N.A.
    The project, which will include a 20% affordable-housing component and 80% market-rate units, is located on a full block-front along Eighth Avenue between 53rd and 54th streets. It will feature an 80,000-sf garage and 9,357 sf of retail space. The interest rates at closing for HFA’s tax-exempt and taxable seven day low floater bonds were 1.65% and 1.85%, respectively.

    "Financing 80/20 projects is highly labor intensive and takes specialized knowledge,” says SBO president Richard Bassuk. "To make the HFA and credit enhancement process as easy as possible for our 80/20 clients, we act as the client’s financial department providing all analyses and processing required by HFA for the projects, and for arranging the required credit enhancement."

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