I think with 15 Penn it’s better to wait. Even in its current form (vision proposal), it could theoretically sport the largest office tower in the city. Hell, even a megatall. I’d rather wait and get that as the market grows to a level that can support it. At least if we are talking pure office. HY and Midtown East will eat the current demand in the next 5 years. Might make it risky to build 15 Penn. So I agree with the 10 to 20 year time frame for that parcel.
I really think Hotel Penn will be the spot where the future tallest will rise. It’s the perfect location in terms of access bar Grand Central and the WTC site.
The future tallest will rise where Prince Alwaleed wants it to rise!
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I agree, Chris.
I wonder if the LIRR trains that stop at GC will continue to Penn. I assume not.
they are going to be sitting on that until at least 2025 then.
At some point you have to take risk, but I agree Hudson PHII is what they should wait for. All of that residential build in a 5-10 min walk from this location. I think it should be a multi-use building anyways. A hotel at that location would be prime (and it was before the current one became all run down). Take the Train into town, walk across street to hotel, have access while in town to Penn station to get around city.
This would allow megatall also. Build retail at base, lets say 3-4 floors, office lets say 2.5-3 mil square feet, then a massive hotel at the top overlooking the entire city. The reason I do the hotel at top is they do better than office with the smaller floor plates. And I have seen this executed well. The IFC building in Guangzhou has office for about 70 floors then a 20-30 floor four seasons at the top. Its not supertall, but around 1350 feet tall.
Interesting Development Report Q1 2016
Office Market Information
I read the 2nd presentation as positive. Vacancy rates are stable while more supply is added to mark. When the fully tenanted 10 Hudson comes online this will improve alone with 30 Hudson.
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I love that second page. I extracted it. Even though the pdf is protected. Pfff… keeping us from knowledge. We must have this for the record! Click to enlarge.
I found this because I was trying to find some information about current vacancy rates because of the discussion about 15 Penn Plaza. Once the Hudson Developments are done (MW, Hudson Yards, Moinion tower) and Vandy 1 are compete if we are still sitting around 9 to 10% we should see the next round kick off.
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Thats what I’m hoping. A steady stream with a slow down but enough that development is still occurring but never reaches the point of just stopping or approaching 0; and then it picks up or spikes.
Hey everyone!
Check this cool video made by QUEENSNY121!!
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So after visiting I felt there were 3 towers that dominated the skyline. Even from JFK One WTC, Empire State Building, and 432 Park dominated the skyline. And of those 3 One WTC is a monster a long distance (JFK) compared to the others.
I will be interesting to see how 30 Hudson, One Vanderbilt, Central Park Tower and Steinway alter this.
And something I learned about those silly NIMBYs. Back in the 19th Century they did not even want the Statue of Liberty because they thought it would be an eyesore. Short sighted fools.
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I feel like Manhattan Tower, CPT and Vanderbilt will have a similar or greater impact as far as mass goes than One WTC. But Steinway will be more of a spiritual crown for the whole city.
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I think anything with a roof height above 1200 feet will stand out in the same way as those three.
Wiggleworth, what is Manhattan tower? Did you mean 30 HY?
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ya Manhattan tower = 30 HY. Don’t know if that name will ever catch on.
A funny note. The boat ride had an older gentleman narrating some facts about the city and he did a really good job, he was definitely a YIMBY (he highlighted that even in the 1870s people were against Statue of Liberty, and highlighted that when brooklyn bridge was completed it was easily tallest structure in NYC, a fact that can be lost on people). I gave him an interesting fact he could add to his narration that he was not tracking. I told him that the Hudson Yards development (including Manhattan west) when complete will have more commercial office space than the entire city of San Diego. I am curious if he will use that piece of info.
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He sounds almost like the Yoda of YIMBYS. Give him a piggy back ride around the city looking at the beautiful buildings.
ya pretty much, he really perked up when I asked him about the new towers going up in 2 bridges district, he went on to tell me the one will have a cantilever like the one in Flatiron district. Gave a lot of trivia about Statue of Liberty and Ellis Island, and also highlighted that 1 in 4 financial transactions that happen in the entire world each day take place in lower Manhattan in the financial district which I did not realize it was that high.
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Sounds like a great guy. If New York went down. The whole world would too.
http://www.6sqft.com/extell-files-permits-to-demolish-six-midtown-buildings-for-a-new-mega-development/
hey all, trying to figure out if we know anything more about this. Its a pretty large assemblage. I tried search 46th street on the forum here and nothing came up that matches.
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I do not think I’ve heard of that one. Although there are a lot of possible supertall sites dotted all around midtown that are seeming to be quite large in theory.
Really, there will be a gap between Bills Row and Hudson Yards unless these clandestine developments amount to something sizeable. And I mean at least 3. Otherwise there will be 1 Vandy as the only lone wolf competitor.
