Is construction still proceeding at the tower?
The Instagram post is from a day ago and says they’re deemed essential but there’s also all the news about all non-essential construction being halted, including new condominium work.
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Construction halted at end of week I think. April 3-21st moratorium
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The residential towers must have an ‘affordable’ housing component: a minimum of 20% affordable. My guess is a ultra luxury condo building such as 111 West 57th does not have ‘affordable’ housing apartments. Thanks to SSC, WiredNY, YIMBY and other public Architecture forums; they would be quickly shut down if they tried to continue construction operations under the new 'non-essential construction rules. I wish there was more industry insider participation in these forums: so many questions, so few responses. OH, and glad Fabberwocky is chiming in - maybe he/she is the ‘insider’ who can tell us about current construction activities on this job site.
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https://www.instagram.com/p/B9mEne1npOO/
https://www.instagram.com/p/B9uwryiFrLo/
https://www.instagram.com/p/B94drlul62M/
https://www.instagram.com/p/B95IqEOFRlB/
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Just another architecture enthusiast watching all these towers go up from afar I’m afraid. But really appreciating how the community can continue to track any construction updates even as many of us are inside for the foreseeable future.
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The more members and contributors we have; the better. What better way to spend some of my COVID quarantine time than viewing the latest Architectural and Real Estate developments in NYC. The last few photos are a surprise/news to me, as I did not think the interiors were finished and ready for occupancy. Always something new to learn here on the YIMBY forums.
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This is not good news for 111W57 - but big news. I thought that people who buy new development condos would obviously have some ‘occupancy date’ guarantees or have the option to walk away from the purchase commitment. This article indicates that this is in fact the case: and the ‘occupancy date’ is currently looming. I don’t know the if the interiors are built out, and if the building is ready for new buyers to occupy any apartments: interior FFE furnishings, finishes and equipment, building power, elevator access, safety requirements to enter/exit - all unknowns at this point. If any one with inside information on the forum; your input would be helpful. Article here - Luxury $1.45b NY skyscraper with homes worth up to $59m face being left empty due to coronavirus | Daily Mail Online
“## Manhattan’s $1bn ghost tower? NY skyscraper with homes worth up to $50m could be left empty as clause that lets buyers walk away approaches during coronavirus lockdown”
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This tower may end up “empty” which seems hard to believe. The ‘outside date’ may be negotiable at this point given the COVID-19 delays in construction. However: I would like to hear from anyone regarding the possibility that the ‘outside date’ was not going to be met regardless of the construction stoppage due to the virus: the completion date was already years behind schedule and at risk of missing the ‘outside date’.
Getting honest information on this project has been like trying to solve the ‘riddle of the Sphinx’ - any input from a knowledgeable source would be appreciated.
New York’s skinniest supertower is about to be “in a world of pain.”
One of the tallest residential buildings in the nation, 111 W. 57th St., is just weeks away from missing its construction deadline, known as an “outside date,” thanks to years of delays and the construction moratorium caused by the COVID-19 pandemic.
If that happens, in-contract buyers could — and likely would thanks to coronavirus fears and an abysmal stock market — walk away with their deposits, leaving the $1.45 billion development empty
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From 3.13.20:
From 3.14.20:
Crown facade piece going up:
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This series of photos are amazing. The high resolution makes for very sharp images when enlarged 3X or more: can actually see the bolts holding the crain arms to the side of the buildings. Great viewing for the architectural and construction enthusiast: a big thanks to Baronson.
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The above photos posted by Streetscaper remind me how important it is for a city to have good FAR zoning regulations: Manhattan building density strikes the perfect balance between ‘open air’ and ‘skyscrapers’. The resulting vista that opens up for viewing our Architectural Icons is probably a lucky unintended consequence; but is what makes Manhattan the worlds most beautiful skyline. The photo below shows what I think is bad FAR regulations - much too dense. It is Hong Kong. Most of those towers in the center of the city are 30-40 stories tall, and all tightly clustered together - that would not be possible if it were NYC zoning regulations specifically for FAR and the resulting purchase of adjacent ‘air rights’.
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Nice observation infoshare.
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Thanks, That is the genius foresight of the FAR regulations: the requirement to buy the ‘air rights’ of the neighboring properties - resulting in plenty of open air/sun circulating around any tall building. It is good to see, and understand, that the air rights on those tall towers we see in those NYC photos have been purchased; therefore we can not tightly pack tall buildings side-by-side as seen in Hong Kong. Those three tall buildings along 57th & CPS will have all that air space around them in perpetuity; as is the case thought all of Manhattan Island. I guess you could say when it comes to zoning regulations in NYC: it is “so FAR so good”. LOL
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I know all about the air right transfer stuff. But I had never directly attached that to the quality of the skyline. That’s what caught my attention. Thanks.
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Even if completed with all units sold, this tower was going to be empty anyway.
Was anyone actually planning to live in this? My understanding all along was that it was designed as a pied-a-terre or as a “safe investment” for various oligarchs in case they fall out of favor with Vovochka or MBS.
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Yes Waymond, but that is a different kind of empty - even a good kind of empty if I owned a condo in that building and had it all to myself. LOL
The big news here is the possibility that it may be empty with ‘no units sold’. I never knew about that “outside date” requirement that gives the current buyers the legal right to walk away from the purchase contract on the condo units currently sold. It seems to me they were approaching the deadline even before COVID-19: but perhaps the building was ready for occupancy even without the completion of the crown. This building is an Architectural beauty but the back story: the financing issues, bankrupt investors, court battles, construction cost overruns, completion date years beyond expectation - is an Architectural travesty. This building will be a case study for lawyers, contractors, engineers, developers on the pitfalls to avoid when trying to build a super tall work of iconic Architecture on Manhattan Island. I work in the industry so perhaps have a disproportionate degree of interest: but this is still a fascinating story for anyone who cares - or is capable of - looking beyond the skin deep surface beauty of Architectural Design.
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Hong Kong is very dense in terms of shorter residential high-rise buildings. But New York City is the densest city in the world in terms of 500+ feet office and residential skyscrapers.
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The Philadelphia towers built between 1985-1990 were extremely empty when first constructed
Yet they’re office towers. I’m sure more condos will be sold over time in the 57th street towers
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In the Hong Kong photo most of those buildings are tall 20-30 stories high: but each one is standing closely side-by-side, densely packed together. That is the kind of density I am referring to as a comparison; New York FAR zoning regulations prevent anything close to what you see there in the Hong Kong photo. The is the genius of our local zoning regulations; we have FAR zoning regulations that are unique to NYC - so our Manhattan Skyline will alway have greater open air space and visibility. The two photos above better show the differences; and make the point much better than I can coherently describe. The point being that you can never build another tall tower directly next to any of those super tall towers in NYC because all the adjacent ‘air rights’ have been bought in order to build up to their current height. Hope that helps explain; if not - never mind. HeHe
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