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Thread: 605 West 42nd Street at 11th Ave - by Costas Kondylis

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    Forum Veteran krulltime's Avatar
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    Default 605 West 42nd Street at 11th Ave - by Costas Kondylis

    Site:



    Quote Originally Posted by kliq6
    Verizon Building on Eleventh Ave. Sold for $120M

    Moinian Group To Demolish 75,000-SF Office Site; Residential Condos Planned

    The Moinian Group of 399 Park Ave. acquired the six-story Verizon Building at 563-569 Eleventh Ave. for $120 million, or about $1,600 per square foot. The per square foot price was high for this building in the Midtown/Times Square submarket because the new owner intends to demolish the building after the tenant, Verizon, vacates the site. Currently, this site is zoned G9 and includes 1.44 acres gross which works out to about $83.5 million per acre.

    Steve Masterman of Verizon confirmed that Verizon would remain at this location until its lease expires at the end of the third quarter of next year. Shortly thereafter, this 75,000-square-foot, Class C, single-tenant office building, which was built in 1920, will be demolished to make way for residential condos.

    David L. Noonan of Newmark & Co. Real Estate advised the Moinian Group. Verizon did not use a broker. There was a short market time of one month.
    Between The Bricks


    By LOIS WEISS
    November 9, 2005

    Joseph Moinian is another West Side fan who is putting his money where his mouth is.

    We hear Moinian contracted to buy yet another Verizon building on the east side of 11th Ave. opposite Javits.

    This is one of the area's four super corners, where sources say he intends to construct a soaring, 1.5 million-foot mixed-use tower that will include retail, hotel, offices and residences.

    The 47,000-foot site at 555 W. 34th St. is next door to his Infinity Court apartments.

    David Noonan and Jimmy Kuhn of Newmark handled the brokerage, just as they did for Moinian's Verizon purchase on 11th Ave. between 42nd and 43rd Streets.

    Moinian is working there on a design for another 1.5 million square footer, next to the Costas Kondylis-designed apartment building he bought as plans from Jules Demchik and which is currently rising skyward.


    Copyright 2005 NYP Holdings, Inc.
    Last edited by krulltime; November 9th, 2005 at 11:03 AM.

  2. #2

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    Has he also bought the gas station (just to the south, on the corner of 42nd and 11th)?

    Quote Originally Posted by krulltime
    Site:





    Between The Bricks


    By LOIS WEISS
    November 9, 2005

    Joseph Moinian is another West Side fan who is putting his money where his mouth is.

    We hear Moinian contracted to buy yet another Verizon building on the east side of 11th Ave. opposite Javits.

    This is one of the area's four super corners, where sources say he intends to construct a soaring, 1.5 million-foot mixed-use tower that will include retail, hotel, offices and residences.

    The 47,000-foot site at 555 W. 34th St. is next door to his Infinity Court apartments.

    David Noonan and Jimmy Kuhn of Newmark handled the brokerage, just as they did for Moinian's Verizon purchase on 11th Ave. between 42nd and 43rd Streets.

    Moinian is working there on a design for another 1.5 million square footer, next to the Costas Kondylis-designed apartment building he bought as plans from Jules Demchik and which is currently rising skyward.


    Copyright 2005 NYP Holdings, Inc.

  3. #3
    Forum Veteran krulltime's Avatar
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    ^ I dont think that they own the land where the gas station is on 42nd street. I though I had read about that gas station story somewhere but I havent been lucky finding out about it yet. It is close for business so I expect something to be built there.

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    Forum Veteran krulltime's Avatar
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    ^ Well I take it back... just read this news and maybe that gas station is included then...

    November 10, 2005

    Huge mixed-use project coming to far West Side


    A mammoth mixed-use project is coming to the far West Side. The Moinian Group and McFarlane Partners recently announced they will develop a 1.5-million-square-foot project on the block on the north side of 42nd Street between 11th Avenue and the Hudson River. The project will include condos, retail shops, rentals, and public parking. It is scheduled to be completed in the next four years.


    Copyright © 2003-2005 The Real Deal.

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    any one have any idea on what would be the height of such a building?

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    Moinian + Costas-Kondylis.

    I wouldn't get too excited about this until the renderings are out.

  7. #7

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    Is Costas-Kondylis the architect of this project? I thought the article above was referring to the building adjacent to this site.

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    Forum Veteran macreator's Avatar
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    Quote Originally Posted by greenie
    Is Costas-Kondylis the architect of this project? I thought the article above was referring to the building adjacent to this site.
    I think you're right -- they are referring to a building next door designed by Costas (the hack).

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    wrong thread...
    Last edited by NYguy; November 12th, 2005 at 07:34 AM.

  10. #10

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    Quote Originally Posted by krulltime
    ^ Well I take it back... just read this news and maybe that gas station is included then...

    November 10, 2005

    Huge mixed-use project coming to far West Side


    A mammoth mixed-use project is coming to the far West Side. The Moinian Group and McFarlane Partners recently announced they will develop a 1.5-million-square-foot project on the block on the north side of 42nd Street between 11th Avenue and the Hudson River. The project will include condos, retail shops, rentals, and public parking. It is scheduled to be completed in the next four years.

    Except for the developments taking place at the Con Ed site on the eastside, all of midtown's major skyscraper developments will now take place on the westside...
    Last edited by NYguy; November 12th, 2005 at 07:37 AM.

  11. #11
    Build the Tower Verre antinimby's Avatar
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    I hope it won't be as "mammoth" as they say.
    Will completely block out the view of Conde Nast from the Hudson and beyond.

    Quote Originally Posted by NYguy
    Except for the developments taking place at the Con Ed site on the eastside, all of midtown's major skyscraper developments will now take place on the westside...
    Don't forget the area around the ESB, unless you don't consider them to be major enough.

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    i dont think the view of conde naste i very important. i hope it is mammoth

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    I agree. The Conde Naste Building is ugly I think. 42nd and 11th is a gold mine waiting to explode despite the lack of subway lines.
    There is alot going on in that neighborhood and lot's of tall high rises being built. This should be a fantastic project.

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    Disgruntled Optimist lofter1's Avatar
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    The site referred to in the article is 11th Ave between 42 / 43, seen in the very lower right of the photo below (at center is the site where the Atelier is now going up.

    More info starting here : http://www.wirednewyork.com/forum/sh...&postcount=137

    And on the Atelier here: http://www.wirednewyork.com/forum/sh...23&postcount=1 ) :


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    Chief Antagonist Ninjahedge's Avatar
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    Walked by it many a time to get to company softball games on the field at 52nd and 11th....

    I was wondering what was going on there....


    And yeah, compared to the Verizon Tower, almost anything would look better...

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