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Thread: 123 Washington Street - W New York Downtown - by Gwathmey-Siegel & Associates

  1. #1

    Default 123 Washington Street - W New York Downtown - by Gwathmey-Siegel & Associates

    Article from the Battery Park City Broadsheet

    Sometimes known as 123 Washington St, the building at 4 Albany was recently sold by Deutsche Bank to the Moinian Group. A Moinian spokesperson would not comment on plans for the site, but executives associated with downtown reconstruction work confirmed that the building will come down and that new development is planned. Local residents are concerned that the building is contaminated, and without the public scrutiny that has been focused on the Deutsche Bank deconstruction, demolition may release toxins into the air.

    As long as the Moinion Group does not use federal funds for the work, the company is not obligated to publicize its plans. "This should not be a secret project," said Helen Seeman, a BPC resident who participated in an LMDC advisory group on the Deutsche Bank deconstruction. "This needs to have a public process. It doesn't seem reasonable to have the LMDC go through all this and then have Moinian do whatever they're going to do with the other building."

    The building at 4 Albany St is said to be architecturally significant and is eligible for listing on the National Register. Designed by architect Arthur C. Jackson, it was completed in 1922 for the National Surety Company. "It is a neo-classical commercial building with projecting bays at a stone base separated by Doric columns and a large bracket cornice," said Ken Lustbader of the Lower Manhattan Emergency Preservation Fund. "If they're using private funds, they can do whatever they wantBut, for everybody, it would be beneficial to have a clearer line of communication."

  2. #2


    Thanks for the clarification. It's a shame, however, that this building is coming down.

  3. #3


    Maybe something WONDERFUL will come up in its place!

  4. #4


    I doubt it. Anyway, even if Monian planned something superb, they could have built it on a crappy site like the ones on B'Way that I rant and rave about.

  5. #5


    The Moinian Group built The Regent and The Biltmore. They also poorly renovated 90 West Street.

  6. #6

    Default lol

    well now I just feel silly. I saw an ad for an apartment in albany and I thought it was an apartment in upstate ny lol

    hello btw. my name is michele. I currently live in norwalk, ct but work in chelsea and am trying to find a decent and clean and affordable and (roach free) apartment somewhere in the city area... *wave wave*

  7. #7


    which one is it, the taller of the two?

  8. #8


    The tall one is the infamous Deutsche Bank which is coming down.

  9. #9


    Tribeca Trib

    Greenwich St. Neighborhood on the Rise
    by Etta Sanders
    NoBat? SoLib? East of West?

    No catchy moniker has yet caught on for the area north of Battery Park and south of Liberty Street from Broadway to West Street, but developers and the city are hoping it will become one of the hottest neighborhoods in Lower Manhattan.

    "We're bullish about the area below the World Trade Center," said Elad Dror, director of residential properties for the Moinian Group, developers of a new apartment building in the area.

    With much attention focused on buildings that are coming down just south of the World Trade Center site, less notice has been taken of what will be going up. By the time the rebuilding dust settles, the area commonly referred to by city planners as Greenwich Street South may be the most altered Downtown neighborhood of the post Sept. 11 era.

    The Lower Manhattan Development Corporation (LMDC) has financed an urban design study of the area, examining, among other things, its potential for residential conversions and/or mixed uses, particularly housing in areas around the Brooklyn-Battery Tunnel.

    While the city and the LMDC study and plan, two high-rise luxury residential buildings are already in the works, according to The Real Deal, a trade periodical. One of them, a 30-story condominium building, is slated to go up at 4 Albany Street, where demolition of the existing building began in late December.

    Dror confirmed that Moinian is planning a residential building on the site, but would give no other details. The developer has already converted three other commercial spaces in the area to create 1,200 apartments since the summer of 2000.

    Just to the east, at the corner of Thames and Greenwich Streets, the two-story building that housed Corbett and Conley and a Japanese noodle shop will be replaced by another 30-stories of luxury condominiums.

    At 120 Greenwich Street, nearly all the occupants of the 105 apartments are gone. Most moved in with two-year leases after Sept. 11 to take advantage of the Downtown residential grant program, according to Charles Cecil, managing director of Barrington Development, which manages the property. Cecil said the company plans to increase the 12-story building by roughly 50 percent and turn it into condos or a combination condo and hotel.

    Today, the area hardly has a neighborhood look. "It's pretty bleak,' said Susan Fox, who moved from 120 Greenwich Street last year. "There's the Pussycat Lounge and the sex shop. There's really not much there."

    But Dror expects that will change as more people move in. "With all the residents there, the retail will come," he said. The planned transformation of the southern stretch of West Street into a grassy boulevard could blossom into a promenade of outdoor cafes.

    Cecil said the neighborhood will also be boosted by the restoration of Greenwich Street through the World Trade Center site, its proximity to the financial district, and by improved transportation. Even taking into account the hundreds of new apartments already coming to Tribeca and the Financial District, the market will not be saturated with high-priced housing, he said. "If demand went down 20 percent, it wouldn't change anything."

    The newcomers, of course, will differ from the artists and others who pioneered the neighborhoods to the north. "Peculiar artsy types are not the ones spending $1,000 a foot," Cecil said.

  10. #10
    Forum Veteran
    Join Date
    Aug 2003

    Default 4 Albany

    This will be a Westin Hotel / condo

  11. #11


    I guess that's positive news for the design.

    Little Noticed Building Is Coming Down
    by Etta Sanders

    E.P.A. to communicate more on Albany St.
    By Ronda Kaysen

  12. #12


    Demolition work begins at 4 Albany St.

    By Ronda Kaysen

    While much of the World Trade Center redevelopment plans have been bogged down in a bureaucratic quagmire, a small neo-classical office building at 4 Albany St., standing damaged and shrouded behind a black curtain since Sept. 11th, 2001, has been cleaned of contaminants and will soon be reduced to nothing more than a cement foundation.

    Workers began demolishing the Deutsche Bank-owned building last Friday and by July the 10-story edifice will be gone. One of the last World Trade Center-damaged structures scheduled for the chopping block, it is the only one privately owned. In December, workers began a painstaking floor-by-floor cleaning process to remove the contaminants – primarily lead and asbestos — that rendered it uninhabitable. With the building now empty and clean, the façade will be peeled into the structure to be demolished floor by floor.

    “All of the contaminants have been removed,” Frank Lawatsch, Jr. legal counsel for the bank, told Community Board 1 members and local residents at a recent C.B. 1 public meeting. “All that’s left is brick and mortar.”

    The office building’s fate was sealed last November when Deutsche Bank entered into a $30 million sale agreement with developer Joseph Moinian on the condition that the bank would demolish the structure.

    A spokesperson for the Moinian Group declined to comment on the developer’s plans for the site.

    From 7 a.m. until 3:30 p.m., five days a week, workers will haul debris from the site. Loading the remnants of the building on Albany St., trucks – two to five a day at the start, and 12 to 14 a day by the middle of June – will loop onto Carlyle St. and onto the West Side Highway.

    The demise of 4 Albany St. may be a harbinger of how the other remaining 9/11-damaged structures are dismantled. “What happens at 4 Albany St. is setting the precedent for what happens at 130 Liberty St. and what happens at Fiterman Hall,” said C.B. 1 member Catherine McVay Hughes, referring to two 9/11-damaged structures that are awaiting demolition.

    Although 4 Albany St. is not facing the same level of public and government scrutiny as the government-owned contaminated buildings, the Environmental Protection Agency has been closely watching Deutsche Bank’s activities at the site. Future demolitions will most likely take cues from the bank, according to Pat Evangelista, W.T.C. coordinator for the E.P.A. “4 Albany is a good model,” he said.

    The E.P.A. is directly overseeing plans for the demolition of 130 Liberty St., a former Deutsche Bank property that was acquired by the Lower Manhattan Development Corporation, a city and state agency, last year. The L.M.D.C. is currently revising a draft of its demolition plan that will include a detailed emergency action plan, which the corporation discussed at the meeting.

    Local residents and community board members voiced environmental safety concerns at the meeting, and a general sense of frustration with a process that has occurred with little public input.

    “There’s a lot of distrust because the community wasn’t involved at the beginning,” Craig Hall, president of the W.T.C. Residents Coalition, told Deutsche Bank representatives.

    Lawatsch insisted that the E.P.A. and C.B. 1 have been kept abreast of the company’s dealings, noting that environmental consultants for the bank deliver reports to the E.P.A. every week. “The last thing the bank wanted to do was expose the community to anything,” said Lawatsch.

    There have been two incidents where contamination levels have exceeded safety levels since work began on the 130,000 sq. ft. building. The first exceedence showing lead was caused by work at a nearby Con Edison project and the second, caused by asbestos, was related to work at the site. Neither incident, said Lawatsch, posed a public health threat since the exposure stayed within safe limits. “We set very specific requirements that go well beyond what the law requires,” he said.

  13. #13


    The site of 4 Albany Street. 16 July 2005.

  14. #14


    The site of 4 Albany Street, with the black wall of 130 Liberty St behind. 11 September 2005.

  15. #15


    This should be a pretty tall and slender tower:

    Silverstein Faces Some Competition For Liberty Bonds

    BY DAVID LOMBINO - Staff Reporter of the Sun
    December 9, 2005

    Developer Larry Silverstein has some serious competition for the tax-exempt Liberty Bonds he wants to use to rebuild the World Trade Center site - in the form of an application from developer Joseph Moinian for $147 million in tax-exempt bonds to build a 53-story, mixed-use hotel and residential condominium tower about a block south of ground zero.

    Mr. Moinian's $240 million project, which includes 440,000 square feet, 220 hotel rooms, and 180 residential condo units, appears to fall more in line with Mayor Bloomberg's vision for more mixed-use development in Lower Manhattan. Construction is ready to begin immediately and could be completed by 2007, according to Mr. Moinian.

    The address of the Moinian building would be 123 Washington St., now an empty lot. The site, adjacent to the Deutsche Bank building now being dismantled, was affected by the September 11, 2001, attacks but not as severely as the Silverstein site.

    Andrew Alper, the president of the city's Industrial Development Agency, the agency that distributes the bonds, indicated that the city, state, and Mr. Moinian have discussed $50 million in bonds, considerably less than the developer's original proposal. The bonds would essentially finance the hotel portion of the development. Should Mr. Moinian not receive the bonds, the project will be built as luxury condos.

    Yesterday, Mr. Moinian, whose firm says it already controls 14 million square feet of Manhattan real estate, said his application was not intended to compete with the redevelopment of ground zero. "I want nothing more than to see Silverstein succeed in developing the World Trade Center site, I have no doubt that he will get this done. My request has been to add to and complement the site, Silverstein's project, and to the heart of Lower Manhattan, bringing a beautiful structure and a first class hotel to the area, including permanent jobs."

    Both developers' Liberty Bond applications were submitted in April. Mr. Moinian's bonds could come out of Mr. Silverstein's request for all $3.35 billion remaining of the Liberty Bonds that were authorized by Congress after the attacks of September 11, 2001.

    Yesterday the city held a public hearing over Mr. Silverstein's application to use all of the remaining Liberty Bonds to replace the 10 million square feet of commercial office that was lost when the World Trade Center was destroyed. The financing from the bonds would supplement insurance proceeds from the terrorist attacks that could amount to $4.65 billion.

    Mr. Alper yesterday said that the city would negotiate over the weekend with Mr. Silverstein, with the goal of settling on the terms and conditions of a bond allocation before a potential vote on Tuesday. "We don't have many disagreements with Larry Silverstein," he said.

    In an effort to add more flexibility to a long-term deal and hedge some of the risk from depleting the entire Liberty Bond arsenal, Mr. Alper said the city is trying to add "claw-backs" that would allow the city to take back the bonds and redistribute the tax-exempt financing to other development projects if certain construction benchmarks are not met.

    Mr. Alper noted that one potential future use for the bonds was to help develop a retail component at ground zero, a task that belongs to the Port Authority, but no application has been filed. He also said the city wanted to make sure that Mr. Silverstein's developer's fee is not "too excessive."

    Yesterday the senior vice president of Silverstein's World Trade Center Properties, John Lieber, downplayed the differences between the city and the developer. "The big issue has been resolved. The city wanted a commitment to an aggressive schedule and we agreed," Mr. Lieber said. He said the savings in finance costs generated from the Liberty Bonds would permit the developer to build the project "as fast as engineering can allow."

    Yesterday's public hearing over Mr. Silverstein's application lasted nearly two hours and contained passionate testimony both for and against Mr. Silverstein's proposal. More than 20 civic leaders and private citizens used a variety of economic, political, moral, and logistical arguments to try to influence the board members of the IDA in advance of its vote. The co-chair of Battery Park City United, David Stanke, said the mayor's suggestion of taking control of the site from Mr. Silverstein "feels like eminent domain - taking the rights of a private developer and giving it back to the government."

    The chairman of the West Street Coalition, John Dellaportas, said it was immoral to use the Liberty Bonds for any purpose other than "filling that hole." He said that the city was unfit to tell a private developer how he should spend his money. "History will record that Osama bin Laden destroyed the World Trade Center and Michael Bloomberg kept it from being rebuilt," he said.

    If the vote on the bonds is delayed beyond the scheduled meeting Tuesday, a resolution may have to wait until regularly scheduled monthly board meetings in January, February or beyond.

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