The Link - 310 West 52nd Street - Condo - by Costas Kondylis

[londonlawyer]

There's an article in today's NY Post stating that a group that owns the horrible Howard Johnson's hotel on 8th and 52nd has purchased the adjacent parcel at 310 W. 52nd to create a parcel for a 37 story residential tower. The horrible HoJo is one of many trash buildings on the west side of 8th that must (and will) come down in the next few years. This is good news.

[billyblancoNYC]

Originally Posted by londonlawyer

There's an article in today's NY Post stating that a group that owns the horrible Howard Johnson's hotel on 8th and 52nd has purchased the adjacent parcel at 310 W. 52nd to create a parcel for a 37 story residential tower. The horrible HoJo is one of many trash buildings on the west side of 8th that must (and will) come down in the next few years. This is good news.

W. 52ND SITE SOLD FOR $9M

By LOIS WEISS

June 21, 2004 -- Vikram Chatwal's Hampshire Hotel Group has scooped up SIR Studios' mid-block building at 310 W. 52nd St. to create a development site that can hold a 37-story residential tower.

Hampshire Hotels already owns the Howard Johnson's next door, and would have moved forward with its plans with or without SIR, said Michael Johnson, president of Studio Instrument Rental New York.

In order to keep the studio from becoming "landlocked" — which would reduce the value of the property — SIR's partners decided to sell for what sources said is approximately $9 million.

Chatwal has already hired Eric Anton and Ron Solarz of Eastern Consolidated Properties to sell the site — which could hold up to a 250,000-square-foot tower — for as much as $50 million to $60 million.

Anton and Solarz declined to comment.

As the Post previously reported, the SIR business already leased space at 475 Tenth Ave. and on 25th Street, where it will continue its traditional instrument and high-tech musical computer rental operations. It is also opening a new studio.

"We will be giving peace and harmony to the studio clients," said Johnson.

http://www.nypost.com/realestate/26075.htm


The West 52nd Street site has become legendary for hosting pre-tour practice sessions for such bands as the Rolling Stones. It also frequently hosts showcase sessions for new bands and album releases.

[londonlawyer]

Thanks for posting it, Bill.

[billyblancoNYC]

Originally Posted by londonlawyer

Thanks for posting it, Bill.

You're welcome.

[krulltime]

CLINTON TO GET LUXURY HIGH-RISE


By LOIS WEISS
August 27, 2004

The group that just spent $675 million on the Plaza Hotel has scooped up the mid-block SIR Studios site for $43 million, where it intends to construct the first high-rise luxury condos in Clinton.

The site at 310 W. 52nd St. was bought by Miki Naftali's El-Ad Group from Vikram Chatwal's hospitality company. Chatwal combined the former SIR Studio with transferable development rights from his Howard Johnson Hotel so a larger and taller building can be constructed.

According to broker Eric Anton of Eastern Consolidated Properties who worked with partner Ron Solarz, Naftali sees the area filled with rentals as ripe for the luxury market.

"The building will have upscale amenities and wonderful views," said Anton.


Copyright 2004 NYP Holdings, Inc.

[londonlawyer]

This project is a massive let down in that the horrible HoJo hotel on 8th will remain standing. 8th Ave. between 42nd and 57th is probably the worst, most dilapidated avenue in midtown. It would have been nice to raze the HoJo eyesore and have one less filthy, horrific building infesting 8th.

[Edward]

SIR Studios building. 9 October 2004.

[Peteynyc1]

.

[londonlawyer]

It would be nice if the developer at least put a new facade on that horrible hotel.

[krulltime]

Oh cool thanks for the rendering!!!

I like it... But why not just get rid off that hotel and put it in the new building design... It is kind of dumb to leave it there. It is ugly.

[londonlawyer]

I completely agree. The developer is such a dope for keeping a horrific eyesore in front of the new building. How much money can a gross HoJo hotel possible even make for the owners?

[Fabrizio]

How weird. The tower looks good (of course who can tell from these renderings)... at least no dumb balconies or cheesy retro touches. If only this tower had been built behind a row of restored old buildings, it would have been great. That HoJo was always just dreary... it´s not even cool 60´s modernism.

[krulltime]

Please don't tell me that the hotel was saved by some preservationist community group... 60's architecture my a$$... It is just plain stupid if that is what happen... But I doub it... I think the owner of that hotel just didnt want to give it up.

[londonlawyer]

The HoJo is owned by the developer of the tower! That's what makes it absurd!!!

[Jasonik]

The developer will put up a second tower on the HoJo lot after the first one sells out (that way he'll get full price for units that will eventually stare into another building.) Developers aint stupid.