View Poll Results: Do you like the final design of Beekman Place?

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Thread: 8 Spruce Street - Beekman Tower - by Frank Gehry

  1. #1

    Default 8 Spruce Street - Beekman Tower - by Frank Gehry

    NY Post...

    RATNER GETS DIBS ON DOWNTOWN LOT

    By STEVE CUOZZO

    December 2, 2003 -- NEW York Times headquarters developer Bruce Ratner is poised to snatch up one of Manhattan's prime building sites.

    His Brooklyn-based Forest City Ratner just beat out a brace of bidders for NYU Downtown Hospital's coveted parking lot - where a huge tower can be built without zoning changes.

    The lot, across from Pace University and City Hall Park, can accommodate a tower of up to 818,000 square feet.

    It's an opportunity in a thriving downtown residential market for a building with stupendous harbor and skyline views, but the project would likely combine apartments with what sources called "institutional" uses.

    Terms of the prospective sale were not available but said to be "well north" of $100 per square foot - what one insider termed "a very, very good deal" for the hospital. Another source pegged the price at around $100 million.

    Ratner has not yet bought the property. Sources said his selection by the hospital kicks off an exclusive negotiating period of "longer than one month but less than two," which, if successful, will lead to a sale contract.

    Issues to be resolved include certain amenities Ratner would provide for NYU Downtown, including a new ambulatory care unit. The hospital may also have a say in the new building's design because "it's right at their doorstep," a source noted.

    Although the deal is far from done, a source said that Ratner "had to put up an irrecoverable, not insubstantial down payment - this is not a fishing expedition for him."

    The Post's Lois Weiss first reported last July that NYU Downtown was taking offers on the lot, bounded by the hospital on the east end and by Beekman, Spruce, and William streets.

    The hospital was represented by a Cushman & Wakefield team of Scott Latham, John Caplan and Richard Kennedy. Calls to the brokers were not immediately returned.

    One disappointed runner-up in the auction was Pace University and its development partner, the Brodsky Organization, whose head, Daniel Brodsky, could not immediately be reached. Newmark & Co. CEO Barry Gosin, who is also a Pace trustee and was involved in the bidding process, declined to comment.

    The parking lot site has been in play for a long time. National developer Avalon Bay had an option before 9/11, but it was never exercised.

    More recently, the Albanese Development Corp., Jules Demchick, Rose Associates and Rockrose are known to have taken a good look, although it was unclear which firms made it into the final round of bidding.

    More than 2,000 apartments are already under construction in six new or converted buildings downtown, and 4,000 more new units are in the pipeline.

    Much-in-the-news Ratner is trying to lure the New Jersey Nets to a new arena he hopes to build as part of major complex near Brooklyn's Atlantic Terminal. He's also trying to coax Liberty Bond financing from the state and city to bankroll his upper portion of the planned Times tower, which has yet to sign a tenant.

    NYU Downtown Hospital played a crucial role in treating those injured on Sept. 11, 2001. Last week it announced plans to double the size of its emergency room by building a new two-story structure inside its courtyard.

    Calls to hospital CEO Dr. Bruce Logan and to reps for Ratner were not returned.




    BRUCE RATNER
    Downtown guy.
    Last edited by BrooklynRider; November 3rd, 2007 at 06:31 PM. Reason: added building address for easy search

  2. #2

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    Go Ratner!
    This could be a big honkin' residential building.
    Hopefully with some design flare.

  3. #3
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    Well, he is trying to build the NYT Tower - a true gem.

    Not sure what "institutial" use means - maybe Pace, NYU hospital? 6000 apts in the pipeline/being built is amazing.

  4. #4
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    NYU will build a research lab and have some classroom space and condo's on top. The forget tomention that the new apartments are mainly luxury condo's that most people cant touch

  5. #5

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    Quote Originally Posted by kliq6
    They forget tomention that the new apartments are mainly luxury condo's that most people cant touch
    They didn't forget, that's just always understood of new construction in NYC now. :evil:

  6. #6

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    Quote Originally Posted by kliq6
    NYU will build a research lab and have some classroom space and condo's on top. The forget tomention that the new apartments are mainly luxury condo's that most people cant touch

    You were expecting different?

  7. #7
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    Isn't TWT around 800,000 square feet?

  8. #8

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    Yea, I was just going to say....(*type)...that.

  9. #9
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    What are the dimensions of the lot?

  10. #10

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    I don't know how big that lot is, but judging from a map I have, it can't be that big...

  11. #11
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    This map shows a rather large parking lot (left of the hospital). Is that the lot?

    http://appserv.pace.edu/emplibrary/NYCMap.pdf

  12. #12

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    Good for Ratner. Now if we can only get him to stop trying to siphon away downtown 9/11 bonds for use in already-crowded midtown.

  13. #13

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    Yes, that's the lot. I have a fairly accurate map program, and the lot dimensions are about 250' x 500'. I think the building on Nassau St is being converted to residential.

  14. #14
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    That's a big lot...

  15. #15
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    Tall, Modern, and Attention-Grabbing.

    I can only hope.

    Predictions on Height Anyone?

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