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Thread: New Far West 42nd Street Developments

  1. #46
    Disgruntled Optimist lofter1's Avatar
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    Blank brick side walls greet you as you move west on 42nd towards the Hudson ...

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  2. #47
    Disgruntled Optimist lofter1's Avatar
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    Across 42nd on the south side just west of 10th Avenue work continues on the rehabilation of a solid old brick residential building ...

    And farther west down the block the recently closed John Houseman Theater is coming down ...

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  3. #48
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    Quote Originally Posted by lofter1 View Post
    Across 42nd on the south side just west of 10th Avenue work continues on the rehabilation of a solid old brick residential building ...

    And farther west down the block the recently closed John Houseman Theater is coming down ...

    ***
    Thanks for getting pictures. I always plan to, but never have my camera (even though I live a block away, it just never makes it out with me). I actually got hit with a chunk of a brick (small, small piece, but still an event on a boring day) when stuff was being poured into a dumpster at the cleaning half a block down (the property to the west of the police station, on the side of the parking lot). Any clue whats going on on that side? With the police station in the middle of the two projects, I assumed they weren't related...

  4. #49

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    Quote Originally Posted by lofter1 View Post
    And farther west down the block the recently closed John Houseman Theater is coming down ...

    ***
    It's actually the Jose Quintero Theater, Houseman is farther east. Here was an a blip explaining what's going up.

    Taken from the article "Piling up points"
    Condo luring buyers with credit card down-payment plan

    By LORE CROGHAN
    DAILY NEWS BUSINESS WRITER

    http://www.nydailynews.com/business/...p-386954c.html

    A small project down the street at 534 W. 42nd should be built in just a year.

    Gary Schaeffer — who was a specialist on the floor of the New York Stock Exchange for 22 years — has started demolition at the former site of the Jose Quintero Theater, for a nine-story condo project.

    It will be a jewel box of a building, with a facade of architect's concrete that will be smooth as glass. The market slowdown doesn't matter to him — he'll have only seven condos to sell. After spending his days screaming on Wall Street, far-West 42nd St. feels like a good place to be.

    "Ten years ago, this area was all hookers and crack pipes," Schaeffer said. "But now it's going to be a wonderful neighborhood."

    Originally published on October 9, 2006

  5. #50
    Disgruntled Optimist lofter1's Avatar
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    Of course \/\/\/ I stand corrected (with all the theatres that have been torn down around there it's hard to keep things straight) ...
    Quote Originally Posted by Derek2k3 View Post

    It's actually the Jose Quintero Theater, Houseman is farther east.

    ... demolition at the former site of the Jose Quintero Theater, for a nine-story condo project.

    It will be a jewel box of a building, with a facade of architect's concrete that will be smooth as glass.
    And the new residents in that "jewel box" ^^^ will have wonderful views of the Kaufman POS across the street.

  6. #51

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    534 W. 42nd

  7. #52
    Disgruntled Optimist lofter1's Avatar
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    Isn't that 504 W 42???

    I thought that building ^^^ was being restored for low income housing ...

    Anyone know what is planned for this site?

  8. #53
    Disgruntled Optimist lofter1's Avatar
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    DOB shows that 500 - 506 W 42 was slated to be renovated as Residential / Community Renewal.

    But recent Demo permits (June 2007) were issued for 504 and 506 -- so they must have run into some nasty conditions that forced the restoration to turn into a New Building.

    Owner of both 504 / 506 is listed at DOB as: CLINTON HDFC ...


    Clinton HDFCs preserve diversity, improve neighborhood.
    A recent study by the CUNY Graduate Center shows that low-income, limited-equity cooperative housing in the Clinton/Hell's Kitchen area helps preserve the community's diversity while actually improving the physical condition of the neighborhood. (Read the full study.) The monthly charges for all of the co-ops studied (known as HDFCs, after their state legal definition) were dramatically lower than their neighbors, though they were in better condition.


    In fact, the study found that these co-ops are so successful, that the housing is increasingly attractive to higher income purchasers. There is often big gap between the incomes of the original purchasers and the upper income limit for new residents, and some tensions are present. The study was commissioned by the Clinton Seed Fund (CSF) from the Housing Environments Research Group (HERG), part of the Center for Human Environments at The Graduate Center, directed by Environmental Psychology Professor Susan Saegert.

  9. #54

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    Yes, my mistake. I know the building next to it and the ones wrapping around the corner is for affordable housing, however, this is being demo'd. The low-rise hotel west of the site was being sold as well, so perhaps this will all be the site of another res. tower.



    http://www.wirednewyork.com/forum/sh...t=4949&page=40

    Hotelier owner Richard Born, principal of BD Hotels, an active developer of residential properties, is marketing for sale his residential site at 508-512 W. 42nd St. Industry leaders expect the site to fetch close to $100 million, or about $330 a developable foot.

    Sites throughout the city will continue to fetch record prices this year. One must remember that the cost of land is only one element in the development process. The record-high costs of construction and financing, coupled with loss factors for common areas, make development very expensive. In Manhattan, few developments are being built for which the cost per developable square foot is less than $1,000 a square foot.With rising interest rates and a slight softening in sales, developers and lenders are being cautious in their decision process.




    I guess this is the site of 534 W 42nd then.

  10. #55
    Disgruntled Optimist lofter1's Avatar
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    That low-rise hotel ^^^ on this block / south side of 42nd should be Demo'd yesterday --

    It is one FUGLY Pile Of Stuff and needs to COME DOWN NOW

  11. #56

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    that low rise hotel is an active SRO that has a big footprint. the entrance/exit is located on the 41st street side. it is also built right over the amtrack train tracks, which until recently, had only attracted hotels, but now has residential too. buildings shake hard every time the train goes by.

  12. #57

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    NY Post
    Last Updated: 1:56 AM, December 9, 2009

    http://www.nypost.com/p/news/busines...#ixzz0ZjAu3mLw

    Hotelier Richard Born has transferred his old Travelodge development site at 510 W. 42nd St. to Parkview Developers through a lease that ends Sept. 29, 2058.

    Born wouldn't reveal the terms, and while Parkview's Ian Reisner is out of the country, he told us he will reveal plans for the site early next year.

    Reisner and partner Mati Weiderpass own about one-quarter of 230 Central Park South's condos and previously developed the 505 at 505 W. 47th St. in Hell's Kitchen, where, as is typical these days, buyers are suing to get out of their deals.

    We wouldn't be surprised if between the ground lease and those pesky buyers the new project was turned into a rental property or a hotel.

    The site on West 42nd Street is an irregularly shaped lot that sits over railroad tracks and goes through to 515 W. 41st St.

    Born has owned the site for years and tried to sell it for $100 million a few years ago.

    According to Curbed, a 37-story building was being explored by Albanese Development prior to the market meltdown.

    Meanwhile, minor repairs have been made on the cur rent three-story building and a sidewalk shed just received a permit.

  13. #58
    Disgruntled Optimist lofter1's Avatar
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    The NY Post apparently came to WNY to get all the info for this "reporting" but gave us not even a nod ...

    Quote Originally Posted by Derek2k3 View Post

    NY Post
    http://www.nypost.com/p/news/busines...#ixzz0ZjAu3mLw

    Hotelier Richard Born has transferred his old Travelodge development site at 510 W. 42nd St. to Parkview Developers through a lease that ends Sept. 29, 2058.
    Quote Originally Posted by lofter1 View Post

    I wonder where Lois Weiss of the NY Post gets her info
    Quote Originally Posted by lofter1 View Post

    Per a Lease seen at DOF (executed October 1, 2009), Richard Born as the Landlord / Lessor (West 42nd Street Developers, LL) has leased the property at 515 West 41st (aka 508-512 West 42nd) until 2058 to Tenant / Lessee Ian Reisner, a NYC hotel developer as "42nd Street Holdings, LLC" (Parkview Developers / IR Holdings):

    MEMORANDUM OF LEASE

    Reisner has dibs on first refusal.

    Reisner is one of the investors / developers of a condo development at 505 West 47th

    Reisner is also involved in sales of the Trump Grande Condos in Miami Beach (and can be reached at a telephone number seen on the bottom of that webpage).

    From the LEASE ...

    *

  14. #59
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    Wow, glad we dodged that version of 512 W42...

  15. #60

    Default Gay nightlife gets boost with ambitious hotel project


    At a time when city officials nervously double-check and then triple-check their once confident projections about tourism growth, and more than a few gay locals grumble about the dearth of fresh nightlife choices, a $20 million project could bring nearly 80,000 square feet in tourism and dance club space to W. 42nd St.—in the form of New York’s first full-service gay hotel and the first new nightclub serving the LGBT community in more than five years to have a cabaret license.

    On Tues., Feb. 9, the project cleared a significant early hurdle when Community Board 4’s Business Licenses & Permits Committee recommended that the full board endorse a liquor license for the nightclub at its March 3 meeting. If the full board agrees and the State Liquor Authority approves the license, longtime gay club owner and manager John Blair would have the go-ahead to reopen xl, a dance bar he and his partner, Beto Sutter, operated for more than five years on W. 16th St. in Chelsea until they lost their lease several years ago.
    full story here:
    http://www.chelseanow.com/articles/2...a426682857.txt

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