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Thread: Manhattan West Project - Brookfield

  1. #256

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  2. #257

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    Does anyone know the address of the north parcel? It appears to be where Brookfield plans its residential tower. I'm curious to know what it has filed with the DOB.

  3. #258

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    the building abutting that parcel (on the north west side) is 424 w33rd...if that helps?

  4. #259
    Fearless Photog RoldanTTLB's Avatar
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    Well well well.
    At 401 9th Ave, we have this:

    03/14/2008 110114723 01 A1 R PERMIT-ENTIRE 12/17/2012 0015649 RA GOTTESDI NOT APPLICABLE
    APPLICATION FILED FOR CONSTRUCTION OF NEW ELEVATED PLATFORM OVER RAIL YARD
    Work on Floor(s): CEL,001

    400-420 w 33rd are all vacant with no filings at all. The 31st st side is strange. There are no filings over there either, but much of the land is marked as being used for utilities, and is not vacant. I suppose all the filings could go under 401 9th ave...

  5. #260

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    Thanks, RolDan. It appears that they are excavating on the north side of the plot. I would have assumed that they need a permit. I wonder if the 900 unit residential tower also will include other uses, such as a hotel or a small office component (e.g., 300k sf.) This tower should be pretty tall.

  6. #261
    Fearless Photog RoldanTTLB's Avatar
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    Well, they have a permit for construction of the decking, and it's possible that the excavation is related to that, as I took a look at every address on the block, and none of them have NB permits out. I guess it's also possible that because of the way the block is setup there are addresses that don't appear in the block when selected, but I'm not sure how that would work. There is a Plot Diagram for the 401 9th Ave address, and it definitely includes the entire north side of the yard (and the corner land you mention). It's quite possible that new build permits, at least for the north building, will be filed under this address.

  7. #262

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    Thanks.

  8. #263
    Kings County Loyal BrooklynLove's Avatar
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    Tons of work going here for about a month at this point - excavation and shoring - they're clearly working on the platform over the yards right now. The ongoing work includes the north parcel.

  9. #264

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    Thanks for the update.

  10. #265
    Senior Swanky Peteynyc1's Avatar
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    Brookfield Office Properties starts long-awaited Manhattan West deck

    • By STEVE CUOZZO
    • Last Updated: 4:54 PM, January 14, 2013
    • Posted: 3:34 PM, January 14, 2013

    Steve Cuozzo


    After six years of promises, Brookfield Office Properties has finally started to build a deck over the exposed Amtrak rail yard for its planned Manhattan West development project.
    The platform is a long-awaited breakthrough in Mayor Bloomberg’s dream to create a vast new Hudson Yards District in the once-forlorn far West 30s that will be home to major companies, residents and a wealth of public amenities.
    It’s also crucial to publicly traded Brookfield’s plan for a $4.5 billion, five million-square-foot project on five acres anchored by two tall office towers and an apartment building.

    The Manhattan West project, between Ninth and Dyers avenues and W. 31st and 33rd streets, will include a public plaza designed by High Line Park creator James Corner Field Operations.


    The deck was first announced in 2006 but held up by caution over the real-estate market, changes to the original mix of towers and delays in negotiating agreements with Amtrak over use of the rail lines through the yard.
    Manhattan West spans the irregular rectangle bounded by Ninth and Dyer avenues and West 31st and 33rd streets. Most but not all of it consists of the exposed train yard 65 feet below street level.
    Brookfield CEO Dennis Friedrich told The Post, “Excavation started a while ago. This is the formal launch of the next phase.”
    Giant machines will soon appear on-site to erect a street-level surface comprised of 16 “bridges.” The deck will occupy 50 percent of the entire site.
    Friedrich said the platform will be finished in late 2014 and the site will be ready to receive tenants by 2016.
    He estimated Brookfield’s land and platform costs at a total $700 million. The deck is to be financed with a five-year, $340 million construction loan from a bank consortium including HSBC, Bank of New York Mellon and four others.
    Brookfield will invest more than $300 million of its own capital with no public subsidies.
    The details are to be announced tomorrow at a photo-op. Bloomberg, Friedrich, Brookfield co-Chairman John Zuccotti, Port Authority Executive Director Pat Foye and Hudson Yards Development Corp. President Ann Weisbrod are expected to attend.
    “Our initial plan was for all offices,” Friedrich said. “But we got excited about residential because the market was so heated. So in our current plan, we replaced what was the third office building with apartments.”
    Manhattan West lies just east of Related Cos.’ much larger Hudson Yards project. Each giant enterprise can now claim its own bragging rights.
    While Related is raising its first tower for Coach Inc. without first building a deck over its own rail yard site, Brookfield is plunging ahead with a deck before it puts up a building — which it won’t do until it lands a tenant. Cushman & Wakefield has been tapped to find one or more.
    Manhattan West was originally to have three office buildings. Now, it will have two of them at the yards’ Ninth Avenue corners of West 31st and 33rd Streets, and a high-rise apartment tower between them and Dyer Avenue.
    Brookfield also owns 450 W. 33rd St., the massive, million-square-foot office address on 10th Avenue, which stands between the Brookfield- and Related-controlled portions of the sunken rail yard.
    While Brookfield has long owned development rights above the tracks, Amtrak still controls the right of way through the yard.
    So the two parties — as well as the MTA, Long Island Rail Road and the Port Authority, which also hold easements through the site — had to work out arrangements that will allow the deck and the towers to be built without interfering with the train routes, which terminate at Penn Station.
    Despite a popular myth that the deck will support the towers, they will actually rise from bedrock at the sites’ corners and in effect be thrust through the platform. But the deck is needed to create a welcoming location for commercial and residential users.
    Brookfield has committed to creating a 100 foot-wide park running east-west through the site, effectively forming an extension of 32nd Street. The public space will be designed by James Corner Field Operations, which designed the High Line Park.
    “The platform is needed to create the land to create the plaza,” Friedrich said.
    The High Line, which now ends at 30th Street, is to be extended along the old trestle’s loop westward to curl around Hudson Yards, and eastward along a spur toward Ninth Avenue.
    Meanwhile, Related has begun work on the first office tower at its own Hudson Yards site — which is not to be confused with Extell’s One Hudson Yards, a 1 million square-foot tower to be developed by Gary Barnett’s company just north of Related’s land.
    Brookfield’s portfolio includes 77 million square feet in New York, Washington, Houston and other US cities, as well as in Canada, Australia and London. It owns the World Financial Center downtown as well as trophy properties such as One New York Plaza.
    “The new district is going to be successful for everybody here,” Friedrich predicted.
    He said Related’s coup in signing Coach as an anchor tenant is “also great news for us. It creates a perfect bookend” for Manhattan West.
    scuozzo@nypost.com

  11. #266

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    I will be quite surprised if the design has not changed. I don't understand where they are getting the tenants for this (or if they even have any lined up), but the designs of those boxes are so boring.

  12. #267
    Senior Member DUMBRo's Avatar
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    Brookfield is aggressive. There's no reason for them to cede the West Side to Related just because the present leasing market sucks. If a tennant prefers what Brookfield has to offer (which could include 'bundled' space in Lower Manhattan at WFC), why wouldn't they sign them?

    If the leasing market is terrible, it's terrible for everyone. If it's good, it's good for everyone.

  13. #268

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    My understanding is that Related is able to offer space at the Hudson Yards at a deep discount. They've seemed to have trouble filling up the North Tower--which will be much cheaper than what Brookfield is offering--and they are obviously different developers, but... you get the point. If the market was really that good, 200 Greenwich wouldn't be sitting idle for the next five + years when the foundation is already built.

  14. #269

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    Brookfield is building the platform first. It should keep them busy for a while. Besides allowing them to wait out the office market slump, a completed platform will make the site more attractive to prospective tenants.

    Platform construction video

  15. #270
    Fearless Photog RoldanTTLB's Avatar
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    Also, while the new plans show 3 towers, it's unclear how that would work about the rail yards. I feel like there's some confusion, that it will still be 2 with one of them going residential. Also, one of the very reasons Manhattan has such a boom and bust real estate cycle is because shovels never hit the ground until leasing IS heating up. it takes 5 years to get up a tower and open it. Everyone races to pick up the hot leasing, but then there's a glut of space for the buildings that couldn't get built fast enough. Then it takes forever to chew through the excess space. Then leasing starts to heat up. Lather, rinse, repeat. If you have the money (cajones) to get cracking on a tower now, in advance, then you can be ready, and get premium dollars for premium product since you're the only one who has any. Gotta be in it to win it.

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