Proposed - Brookfield Towers, Manhattan West Project.

[NoyokA]

Hopefully Brookfield moves the two towers from Hudson Yards here.

[Tectonic]

Crains New York




Brookfield profits down on falling property sales

Brookfield said strong commercial property results offset slow residential operations.
April 25. 2008 10:21AMBy:

Buck Ennis
Commercial real estate company Brookfield Properties Corp. said Friday its first-quarter profit tumbled 57%, hurt by the absence of income from discontinued operations.

The company reported income of $23 million, or 6 cents per share, compared with $53 million, or 13 cents per share, in the 2007 quarter.

In the 2007 quarter, Brookfield reported a net gain of $34 million, or 8 cents per share, on the sale of three properties in Toronto and Ottawa. Those discontinued operations are not included in the current quarter.

Funds from operations (FFO) slipped 2% to $125 million, or 32 cents per share, from $128 million, or 32 cents per share, in the year-ago period. Results are based on 394.5 million shares outstanding as of March 31, compared with 400.8 million shares outstanding at the end of the first quarter of last year.

FFO, which adds such items as amortization and depreciation back to net income, is considered a key measure of REIT strength because it gives a more accurate picture of cash performance.

Revenue rose 5% to $665 million from $634 million in the first quarter of 2007.
Brookfield said strong commercial property results offset slow residential operations. Commercial property operating income rose 12% to $349 million.

Residential operations contributed $18 million to operating income, compared with $42 million in the same period last year.

[brianac]

Brookfield Behind on Ninth Avenue Towers

by Dana Rubinstein | September 24, 2008 |

Skidmore, Owings & Merrill.

Brookfield Properties has yet to begin "substantial" construction of a platform necessary to construct its two planned Ninth Avenue skyscrapers, despite earlier statements that the work would begin this past summer, according to Real Estate Weekly.
In February, Brookfield, led by hunky CEO Ric Clark, said work would begin on the platform over the railyard in June, according to The New York Times:

"Despite a flagging economy, Brookfield Properties says it will start work in June on a $600 million platform over railroad tracks near Ninth Avenue, where it plans to build two towering office buildings."

The railyard comprises half of Brookfield's five-acre lot, bounded by Ninth and Dyer avenues, 31st and 33rd streets. Brookfield plans to erect two very tall, SOM-designed towers, one of which will soar to 66 stories, just 34 feet shy of the Empire State Building's 1,250-foot pinnacle. Tthe other will rise to 60 stories, according to an earlier Observer article

http://www.observer.com/2008/real-es...ppears-delayed

© 2008 Observer Media Group

[TREPYE]

I figured that one the silver lining of this bad economy is that we may dodge ever seeing those hideousnesses on the skyline.

[Ebola]

http://www.hayesdavidson.com/

[NYC4Life]

That first render is actually a mirrored image. He's the correct angle:

This view is from 8th Avenue looking West at 31st Street.

[philvia]

I figured that one the silver lining of this bad economy is that we may dodge ever seeing those hideousnesses on the skyline.

oh noes hong kong on the hudson!

[philvia]

those renders dont seem nearly to scale... one penn is just like 740ft... these are 1200ft+

in the render it looks 900ft at most haha

[philvia]

and why are all of the buildigns wrong?

[NYC4Life]

I agree, these renders were poorly made, but hopefully the towers themselves are of better quality

[JSsocal]

They look really cool, in fact I like them more so then their original form. I just hope these ones aren't shortened.

[JSsocal]

...then again I counted about 66 stories on the taller one, so that's good news

[Sherpa]

They look really cool, in fact I like them more so then their original form. I just hope these ones aren't shortened.

Amazing! They look a lot like 7 WTC tower that everyone likes so much downtown.

[Derek2k3]

I think they are to scale. I still don't think this is a final serious design, it's all so vague.









http://www.hayesdavidson.com/

[londonlawyer]

I can't see this project being built any time within the next ten years. Even if the market is robust in five years, there will be a lot of space with the WTC. Moreover, while financial firms will demand a lot of space in the future, if the government goes overboard with regulation, financial services firms (and their demand for space) can be curtailed seriously.