55 West 46th St - International Gem Tower - by Skidmore, Owings & Merrill

**londonlawyer** · November 18th, 2008, 01:32 PM

This building won't be built for years, and by the time that it is built, Extell may have acquired more sites and the design may have changed.

**Derek2k3** · January 27th, 2009, 11:57 AM

http://www.nypost.com/seven/01272009...wer_152211.htm

CONDO PLAN FOR DIAMOND TOWER

January 27, 2009

THE Diamond District's mysteries are many: There's no explaining why two men were trying to sell persimmons - no other fruit, just persimmons - off a sidewalk table on deserted West 47th Street between Fifth and Sixth avenues on the coldest night of the year.

By comparison, Extell's maneuvers on the Block of Baubles are an open book, even if the book has some pages missing.

The big news is that Gary Barnett's company just filed a condominium-offering plan with state Attorney General Andrew Cuomo's office for its long-awaited Diamond Tower at 44 W. 47th St., where Extell is building the foundation for the 39-story, 900,000- square-foot project.

If the plan is approved, the condos won't be apartments, but diamond-industry facilities including showrooms and offices.

The tower - to be split between jewelry uses on West 47th Street and regular commercial offices on West 46th Street - will have separate entrances on the two streets.

Except for some retail units, commercial condominiums are scarce in Manhattan.

Developers would rather own what they build, and most office tenants want the flexibility to expand, contract and change locations that renting affords more easily than ownership.

But for jewelry dealers, condo ownership might make more sense.

Diamond companies' space needs - whether for more or less square footage - don't change as much as at other kinds of firms, and because ownership is traditionally passed from generation to generation, condos lend themselves to the sense of permanence that ownership provides.

Meanwhile, Extell, which was gobbling up properties left and right on the block, is selling at least one of them.

Our deeply embedded gem-world moles report Extell is unloading 30 W. 47th St., two doors east of its tower site. The sale will close next week. The price is unknown, but the buyer appears to be Jemco, the same outfit that owns 31 W. 47th St. across the street.

Extell is shedding the property basically because it never really wanted it. Barnett bought the "Fifth Avenue Jewelers Exchange" building last year for $50.1 million because he needed its air rights for the new tower.

The only way to get the air rights was to buy the whole shebang. Extell kept the air rights but has no use for the building.

**econ_tim** · February 15th, 2009, 09:55 PM

this is on the south side of 46th street between 5th and 6th near the diamond district tower site. the two surrounding buildings seem to have been recently demolished and it looks like the middle one will soon be too.

**BrooklynRider** · February 15th, 2009, 10:04 PM

That street used to be little Brazil. I guess those days are long gone.

**econ_tim** · February 15th, 2009, 10:06 PM

There are still two or three brazilian restaurants on the north side of the street.

**londonlawyer** · February 16th, 2009, 07:54 AM

Originally Posted by econ_tim

this is on the south side of 46th street between 5th and 6th near the diamond district tower site. the two surrounding buildings seem to have been recently demolished and it looks like the middle one will soon be too.

Econ_tim,

When was this photo taken? Were the buildings that were razed nice or crap. That stretch of 46th Street is prime for redevelopment -- particularly the south side. While there are some beautiful little buildings (albeit in need of renovations), there are many parking garages and dilapidated structures that have been stripped of their ornamentation.

**econ_tim** · February 16th, 2009, 11:34 AM

I took the picture yesterday. Not sure what the razed buildings looked like.

**londonlawyer** · February 16th, 2009, 02:05 PM

Thanks.

**antinimby** · March 10th, 2009, 10:12 PM

Well that ^ middle building is now gone. It's address was 30 W 46 St. The two razed buildings flanking it were 28 & 32 W 46 St.

Nothing on the DOB website yet, just DM permits.

3/8/2009

**avngingandbright** · March 10th, 2009, 10:52 PM

Wait, what's getting built at #30, or are we looking at another gaping hole in midtown?

**londonlawyer** · March 11th, 2009, 07:29 AM

Originally Posted by antinimby

Well that ^ middle building is now gone. It's address was 30 W 46 St. The two razed buildings flanking it were 28 & 32 W 46 St.

Nothing on the DOB website yet, just DM permits.

3/8/2009

Thanks for the update. Do any other contiguous buildings appear to be empty?

Also, do you know what number on W 46th St is the one on the left side of the photo?

**antinimby** · March 11th, 2009, 12:25 PM

^ That building is 26 W 46... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...and this one ^ is 34 W 46.

I don't think they are part of this plot because they show different owners. Only 28-32 (the ones demolished) have the same owner.