Via DOB
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Nice find! Good height bump too.
This tower is nice, but too short. Should’ve been at least more than 850 feet tall.
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Nice find, VG
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Changed the title to reflect the diagrams: NEW YORK | 131-141 East 47th Street | 652 FT | 49 FLOORS
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Nice find , Chris
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Great update, JC!
I’ve not seen this rendering before, though the abscence of the new building next door suggests its an older one. Either way, it seems like this project might not proceed soon.
Town’s 2016 sales exclusive with New Empire stipulated that the developer would pay Town a $10,000 monthly consulting fee, as well as 2.5 percent commission on the sale of each unit, according to court documents. The agreement stipulated that if New Empire terminated Town, it would pay a 0.75 percent termination fee — or $2.18 million based on the projected $290.8 million sellout.
According to Town, the developer has refused to pay the termination fee, and owes it $210,000 for consulting work.
Town New Development is a vestige of Town Residential, the eight-year-old residential firm, which shut its sales and leasing operation in April. Founder and CEO Andrew Heiberger has said the traditional brokerage model is unsustainable in an era of high commission payouts and heightened competition.
the other rendering:
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Looks like the site is back in the development spot light. Some hope.
Will result in a smaller tower than previously planned with the prior entity, but still better than nothing.
Hong Kong Developer Drops $115M on Stalled Manhattan Site
As many foreign investors shun New York, one Hong Kong firm is making a big play at a stalled development site in Manhattan.
Hopson Development Holdings dropped $115 million on a stalled development site in Midtown, records filed with the city Thursday show. The developer plans to raise a 34-story tower, according to an announcement filed to the Hong Kong Stock Exchange, which noted New York City’s status as a global financial center and its ballooning population as rationale for the investment.
The planned development will have approximately 183,310 square feet, according to the announcement, with a total investment of $225,000,000, including the purchase price.
The previous owner, Bentley Zhao’s New Empire Real Estate Development, paid $81 million for the site at 131-141 East 47th Street in 2015, and soon demolished four existing buildings to make way for a planned 49-story tower. A year later, it adjusted its plans down from a 138-unit tower to a 122-unit tower.
[…]
Now, Hopson Development plans to erect a 34-story tower with 200 units at the site, according to an announcement the company made to the Hong Kong Stock Exchange, first reported by Chinese news site Mingtiandi.
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Changed title to reflect 34 floors with new entity.
This was 581 FT and 49 floors but now 34 floors and height remains unknown. I’ll check DOB shortly.
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Aren’t those the old, taller designs? Is there a rendering for what will rise?
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The new renderings have not yet been publicly released.
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back on, apparently.
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