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Thread: Con Ed site on the East River

  1. #46

    Default Con Ed site on the East River

    Looks like Pfizer is out of Con Ed (but in NY):


    NY Post

    May 6, 2003 -- In the largest local expansion project announced in the last two years, drug giant Pfizer said yesterday it will pump $1 billion into the city economy by adding thousands of jobs and investing in real estate.
    Pfizer will spend $400 million to buy and renovate 685 Third Ave. as well as renovate another 2 million square feet it owns and rents in Manhattan.

    It will also drop another $150 million in renovations in the next two years, retain 5,500 workers and add thousands of other jobs to New York City.

    Mayor Mike Bloomberg, Gov. George Pataki and local Congressman Edolphus Towns were on hand for yesterday's announcement. Pfizer, which makes Viagra, is receiving an incentive package from the city worth up to $46.1 million if 4,300 jobs are added by the end of the 15 years.

    Pfizer expects to add 1,000 jobs in the next year, mostly moving workers to New York City from other parts of the country, and another 1,000 within five years.

    The company, founded in Williamsburg in 1848, is also applying for up to $1.4 million in grants from New York State.

    "It's a tremendous victory for New York City and New York State," said Empire State Development Chairman Charles Gargano. "These jobs are paid an average $150,000 per employee."

    In March, the company had agreed to sublease 10 floors, totaling 275,000 square feet, of the 653,806-square-foot building at 685 Third from Aon, which had temporarily relocated there after Sept. 11, 2001. Clarion Partners is advising the California State Teachers Retirement System ownership, which purchased the 685 Third Ave. building in December 2000 for $209.8 million.

    CALstrs was hoping to get around $290 million for the building. The group was close to selling it last summer for $245 million before taking it off the market.

    The exact price Pfizer will pay is yet to be determined, said a company spokesman.

    On April 16, Pfizer formally combined operations with Pharmacia; last week Pfizer announced that its $3.4 billion consumer healthcare business would expand in New Jersey.

    Pfizer has also inked a 10-year lease for 47,000 square feet on the second floor of the News Building at 220 East 42nd Street, owned by SL Green Realty Trust.

    Rents there start in the mid-$30s, said Gerald Nocera of SL Green. A Cushman & Wakefield team led by Josh Kuriloff and Charles Borrock repped Pfizer in all the real estate transactions.

  2. #47

    Default Con Ed site on the East River

    This article doesn't say anything about a corporate headquarters and consolidation in a new office tower. *Actually the article talks about how it is rennovating its existing properties, not to mention leasing space in other properties around the city. *This doesn't look good for a new tower next to the UN.

  3. #48

    Default Con Ed site on the East River

    Yes. Unless we're reading something wrong, that article seemed to be trying really hard to put a happy face on a negative development.

  4. #49

    Default Con Ed site on the East River

    In this market, I'm sure the City sees them not leaving as positive. *And 1000 new jobs too. *They're still digging at the site (carefully, with the Midtown Tunnel right below), so something will happen.

    Question: *what's the status of the diagonal parcel, between 39th and 40th, and 1st and Tunnel Approach Road? *It's cleared as well, but nothing happening. *I'm guessing it's also part of the Con Ed site, with a substation at the western edge. *Residential?

  5. #50
    Forum Veteran
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    Jan 2003
    Garden City, LI

    Default Con Ed site on the East River

    What's negative about this article?

  6. #51
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    Join Date
    Nov 2002
    New York City

    Default Con Ed site on the East River

    One can infer that since Pfizer is taking space elsewhere, there is a possibility that they may not feel the need to have a share in the Con Ed site.

    Just to ask, what does FSM stand for?

  7. #52

    Default Con Ed site on the East River

    FSM is stands for the developers ;The Fisher Brothers and Sheldon Solow. Morgan Stanley dropped out of the development, the final letter of the acronym.

  8. #53

    Default Con Ed site on the East River

    Quote: from Evan on 5:12 pm on May 7, 2003
    *This doesn't look good for a new tower next to the UN.
    That tower is going to happen regardless. *Pfizer was just a potential tenant in the building. *Its a part of the whole Con Ed site redevelopment.

  9. #54

    Default Con Ed site on the East River

    As a private development, the site void would result in millions of lost value. The only realistic possibility in a worst-case scenario would be surface parking, in effect a financial blunder...

  10. #55

    Default Con Ed site on the East River

    Given the $640MM price tag paid for the space, I just don't see them putting parking there. *That would be the most expensive parking garage in the history of parking garages (unless they decide to put one over ground zero). *Given the scale of the building they can construct as of right, I think it's only a matter of time before something large goes up there.

  11. #56

    Default Con Ed site on the East River

    The site of the 708 First Avenue office building on the north end of Con Ed's Waterside Plant. On the other side of the East River - Queens West. 28 June 2003.

  12. #57
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    New York City

    Default Con Ed site on the East River

    Are there any renderings of a design?

  13. #58

    Default Con Ed site on the East River

    From the looks of it foundation work has begun. If I didnt know better, and from what I have heard a foreign company will be the anchor tenant for a 70 storey building.

  14. #59

    Default Con Ed site on the East River

    Edward, nice shots. I didn't realize that the work had begun already. I'll have to get over there next time I'm in the city.

    It says that your pitcures were taken June 28th, 2002. Shouldn't it be 2003? Unless they started the groundwork last year. I'm just wondering!

  15. #60

    Default Con Ed site on the East River

    The scheme that we just think of as the SOM plan was initially the plan of David Childs of Skidmore Owings & Merrill, Richard Meier, Peter Eisenman, and Hugh Hardy. Here's an old article describing this.

    June 11, 2001

    From Architectural Record

    SOM and Pei Cobb Freed to develop master plan for East River site

    Pei Cobb Freed & Partners and Skidmore, Owings & Merrill (SOM) of New York have been selected through an ideas competition [Record, April 2001, page 32] to complete the master plan for a five-million square foot mixed-use development on the site of a former Consolidated Edison (Con Ed) steam plant in Manhattan on the East River just south of the United Nations headquarters.

    The site extends from 35th to 41st Streets, between First Avenue and FDR Drive. FSM East River Associates, a partnership between Fisher Brothers and Sheldon H. Solow, is developing the nine-acre site. The partnership recently acquired the land from Con Ed for $680 million. The architect selection process has been led by Bill Lacy, FAIA, president of Purchase College of the State University of New York and executive director of the Pritzker Architecture Prize.

    The initial ideas competition included firms that were asked by the developers to work together: David Childs of Skidmore Owings & Merrill, Richard Meier, Peter Eisenman, and Hugh Hardy; HOK and Schuman Lichtenstein Claman Efron; Kohn Pederson Fox, Rem Koolhaas, Davis Brody Bond, and Toyo Ito; Henry Cobb and James Ingo Freed of Pei Cobb Freed & Partners and Machado & Silvetti Associates; and Christian de Portzamparc and Gary Edward Handel & Associates.

    Pei Cobb Freed & Partners and SOM were on competing teams in the initial competition. Unhappy with the selection process, other competing architects declined offers for consulting positions on the master plan team. In a statement, Meier and Eisenman said, "Unfortunately, the euphoria of the design process has been quenched by unfortunate circumstances that blur if not blind the vision of what should happen in this great city."

    The new team of Pei Cobb Freed & Partners and SOM is expected to take about four months to develop an initial master plan concept.

    From Richard Mier's website where there are 3 renderings (1 of them is above).

    "The Richard Meier and Partners Residential Towers are located at the center of the waterside site in tight juxtaposition as a pair. Although the two towers are identical, they are staggered in position, with one facing west to the city and the other facing the East River and Queens. A dramatic elevated bridge connects the two towers 60 stories up providing a large multi-use communal space with spectacular views. An opaque and translucent armature wraps three sides of each tower to provide a variety of possible terrace and unit combinations. These two screens anchor the glass towers to the site, in dialogue with one another and to the other surrounding towers. The interplay and relationship between layers of opaque, translucent, and transparent curtain walls with changing light brings the architecture of the towers to life. The shear curtain walls are further engaged by translucent double-height communal spaces at intervals along the height of the building that house such amenities as a gymnasium, nursery or cafe. The floor plans are flexible but are optimal at four units per floor allowing all apartments to be corner units for sweeping views and maximum light exposure.The site is flat from west to east at 685 First Avenue and begins to slope up gently from the Neighborhood Park at First Avenue through the ground plane and lobby levels of the towers and meanders up to the surrounding Public Park at the river edge. Ramps, stairs and elevators provide connection to the lower esplanade along the river. *At the 685 First Avenue site a stair, elevator and bridge are proposed for connection to the raised level of Tudor City.The surrounding Public Park slopes up gently north to south from grade at 42nd Street to a promontory over the FDR Drive at 38th street. This tilted plane forms the Public Park along the river edge. As First Avenue slopes down north to south, the increasing height difference relative to The Park by 38th Street provides natural street frontage for retail. Creases and unfolding of the ground plane of the park as well as step-ramps and stairs promote movement through the site. The ground plane engages the towers of the Waterside site in a variety of layered conditions providing convenient access to the Public Park as well as clear separation of functions of retail and parking for the residents and the public."

    So it seems Richard Mier only designed the residential towers with the bridge and the park space. Also, if the bridge connects at 60 stories, according to the renderings, the buildings must have like 90-100 floors. Though *we have only seen premature and conceptual plans, it shows these people are thinking big.

    Here is the proposal from the other winner, Henry Cobb and James Ingo Freed of Pei Cobb Freed & Partners and Machado & Silvetti. Associates

    (Edited by Derek2k3 at 2:52 pm on June 29, 2003)

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