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

  1. #16

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    Architects are Gwathmey Siegel.

    Construction is set to begin before the new year.

  2. #17
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    Yes, Tishman is on board as the CM

  3. #18
    Forum Veteran krulltime's Avatar
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    Moinian Group plans condo tower near Ground Zero





    21-DEC-05

    The Moinian Group is hoping to build a 53-story mixed-use tower one block south of Ground Zero at 123 Washington Street that would include 180 residential condominium apartments and 220 hotel rooms.

    It applied to the New York Industrial Development Agency last April for $147 million in Liberty Bonds for the project.

    Daphne Mayer Viders, a spokesperson for the Moinian Group, told CityRealty.Com today that the application is still pending and that a decision from the agency is expected soon.

    Ms. Viders indicated that if the funding from the agency is not forthcoming, the developer plans to proceed with a hotel component, but she added that the configuration of the project might be reduced.

    The agency has also received an application from the Silverstein Group for all of the available Liberty Bond financing for his redevelopment of the former World Trade Center site and recently Governor Pataki said that at least half of it would go to Mr. Silverstein’s project.

    Mr. Silverstein recently announced that Sir Norman Foster would design a second commercial tower at the site where the Freedom Tower is planned.

    In a statement released by the Moinian Group, Joseph Moinian, the group’s chief executive officer, declared that he wants “nothing more than to see Larry Silverstein and Silverstein Properties succeed in developing the World Trade Center site,” adding that he had “no doubt that he will get this done.”

    He noted that Lower Manhattan currently has only 2,500 hotel rooms and “desperately needs additional hotel rooms.”

    The Moinian project, now in excavation, is adjacent to the south side of the former Deutsche Bank Building, which is in the process of being demolished. The Deutsche Bank skyscraper was severely damaged in the terrorist attacks of September 11, 2001 that demolished the World Trade Center.

    The hotel portion of the Moinian project will occupy the lower 25 floors of the planned 53-story building, which is being designed by Gwathmey Siegel & Associates.

    Ms. Viders said that the $240 million project is ready to start and could be completed in 2007. Tishman Construction is committed to the construction of the building. The Singer & Bassuk Organization is providing financial consultation with additional funding backed by Starwood Capital.


    Copyright © 1994-2005 CITY REALTY

  4. #19

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    By the time this is up, the bank building should be down?

  5. #20

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    There's a rendering of this building on the 12/30 Downtownexpress.com. It's a bland box. The old building that was there was nice. It's a shame that most new residential and hotel buildings in NY are such shi..t.

    Here's the rendering: http://www.downtownexpress.com/de_138/w.gif
    (Hopefully, it will be all glass or glass and aluminum.)

    Here's the article:

    W hotel on Washington won’t be as easy as 1, 2, 3

    By Ronda Kaysen


    Larry Silverstein isn’t the only developer Downtown eyeing the remaining tax-exempt Liberty Bonds for the World Trade Center redevelopment. Another Lower Manhattan heavyweight bid for a chunk of the bonds to finance a hotel and condo project a few blocks south of the World Trade Center site, and the city appears interested in his proposal.


    Developer Joseph Moinian applied for $147 million in tax-exempt bonds for a 53-story W Hotel and residential condominium at 123 Washington St. The $240 million development includes 220 hotel rooms and 180 residential condo units. The bonds would be used for the hotel portion of the building.


    The property, formerly 4 Albany St., is currently an empty lot, since a 9/11 damaged building there was removed earlier this year to make way for the new development.


    The city is considering giving Moinian $50 million in Liberty Bonds for the project. “It’s a good use. It’s a project that would start right away,” said Andrew Alper, president of the city’s Economic Development Corporation and chairperson of the Industrial Development Agency, which decides on the city’s Liberty Bond applications.


    But Silverstein, the leaseholder for the World Trade Center site, has been pleading his case for the remaining pot of Liberty Bonds. $3.35 billion in triple-tax free Liberty Bonds remain for commercial use. Earlier this month, Governor George Pataki tapped $1.67 billion for Silverstein. Silverstein maintains he needs all the remaining bonds to finance the build out of the Trade Center.


    “Financing certainty on this entire project is going to expedite this entire project,” Janno Lieber, Silverstein’s senior vice president, told Downtown Express earlier this month.


    The $50 million that may go to 123 Washington represents a small percentage of Silverstein’s bond application and it is unclear how vigorously the W.T.C. developer is opposing it. Silverstein declined to comment for this story.


    Moinian is a major player Downtown. His company, the Moinian Group, owns Goldman Sachs’ office at 180 Maiden Lane, as well as 100 John St., 90 John St., 17 Battery Place and 20 West St., a condo conversion. Moinian was the first developer to use Liberty Bonds for a residential conversion when he transformed 90 Washington St. into a luxury rental building.


    He insists his project will not obstruct Silverstein’s goals. “I want nothing more than to see Larry Silverstein and Silverstein Properties succeed in developing the World Trade Center site,” he said in a statement. “I have no doubt that he will get this done.”


    The hotel will occupy the lower 25 floors of the Gwathmey Siegel-designed tower, and include meeting rooms, an ancillary spa and fitness center, a high-end restaurant and lounge and a sky lobby. It is expected to open at the end of 2007.


    Moinian purchased 123 Washington St. from Deutsche Bank when it was still 4 Albany St. The original structure was demolished as part of the sale agreement. Another formerly Deutsche Bank-owned, contaminated building, 130 Liberty St., is located across the street from 123 Washington and is also being demolished to make way for redevelopment.

  6. #21

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    It's a box, but Siegel is a good architect and it could look good. Plus the city's third W hotel. Think about it, it is a very trendy hotel chain, and the other two locations are at popular locations: Union Square and Times Square. Downtown is getting trendy. Whether or not that is a good thing, it's your opinion.

  7. #22
    Forum Veteran krulltime's Avatar
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    Quote Originally Posted by londonlawyer
    Oh cool lets put the rendering here...


  8. #23
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    It could be a nice box -- we still don't know what kind of materials and glass will be used.

  9. #24
    Build the Tower Verre antinimby's Avatar
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    Me like.

    It may be a box, but it's got character lines and patterns. For NY, that's as good as it'll ever get.

  10. #25
    Disgruntled Optimist lofter1's Avatar
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    Nothing could be as bad as the horrid Marriott (cheap brick-like panels, baby doo-doo color) nearby this site:



    Hotel Exterior

  11. #26

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    Horrible Horrible Horrible.

    Gwathmey Siegel has no idea what they're doing. The current architectural trend is a post-modern modernism, which is a return and to the fundamentals of modern design rendered with modern materials and technologies. I would classify this under a similar name but its application is heinous, taking a modernist form and plastering it with postmodernism is tacky and discontinuous. The common trend in most Gwathemy buildings is that they lack a strong identity and cannot stand by itself as a whole entity.

    My gripe is best shown in Michael Grave's Portland Building:


  12. #27
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    Man, that Graves buildings is bad. I'm not loving 4 Albany.

  13. #28

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    I agree. The Graves building is horrible and 4 Albany is totally mundane. The old brick building that was there was nice. It should have been restored. Anyway, would it have killed Moinian to insist on a crown or something to give 4 Albany some pizzaz? Residential developers in NYC really suck. Oddly enough, one of the few great residential buildings constructed in recent years (in my opinion) is the GS building at Astor Place. This one, by contrast, is so bland.

  14. #29

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    Quote Originally Posted by lofter1
    Nothing could be as bad as the horrid Marriott (cheap brick-like panels, baby doo-doo color) nearby this site:



    Hotel Exterior
    I agree with you. The Marriot sucks.

  15. #30
    The Dude Abides
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    Quote Originally Posted by sfenn1117
    It's a box, but Siegel is a good architect and it could look good. Plus the city's third W hotel. Think about it, it is a very trendy hotel chain, and the other two locations are at popular locations: Union Square and Times Square. Downtown is getting trendy. Whether or not that is a good thing, it's your opinion.
    Don't forget the W Hotel East Side, on Lexington around 49th. As for this one: It's nothing special, but it has potential to look good at street level. As long as they don't cheap out on materials (ie use some limestone instead of brick) and put in a good restaurant and retail, it's just another downtown block that will have been revitalized.

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