I see my profile picture makes me look younger than I am, thank you Robert for your compliment. I visited Wired New York for the first time in 2009, and I have known the Yimby forum since the end of 2014 (as a visitor). Somewhere I needed the information on how a skyscraper is built and planned. And where do I get the best information? Right, from one of the best skyscraper forums there is (the others are good too).
I’m just a girl from Germany who collects old pictures of NY and other cities.
That’s so cool my partner is from Germany as well, born and raised. We now live in NYC together (Harlem)!! Maybe you’ll make the move to NYC one day, but as my partner tells me - she dearly misses Germany all the time. I’ve been there a few times.
Is that near Landshut? spent some time there. I’ve been to Germany many times for work but the first time was in 1971 during college. Went to East Germany which was a real trip. There was such a difference between East and West. Love Munich but I think my favorite city is Heidelburg. On a side note (on my college trip) I still have no Idea how I got back to my hotel from a night at the Hofbrau Haus.
JPMorgan Chase takes over First Republic after it’s seized by regulators
JPMorgan Chase, already the largest U.S. bank by several measures, emerged as winner of the weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets,” the New York-based bank said.
JPMorgan is getting about $92 billion in deposits in the deal, which includes the $30 billion that it and other large banks put into First Republic last month. The bank is taking on $173 billion in loans and $30 billion in securities as well.
The Federal Deposit Insurance Corporation agreed to share losses on mortgages and commercial loans that JPMorgan assumed in the transaction, and also provided it with a $50 billion credit line.
JPMorgan said it was making a payment of $10.6 billion to the FDIC.
Back on topic, does anyone think this could top out by the end of summer? Seems they are making good progress. Also, when will the next crane come down?
No more of this off-topic talk, let’s all get back to the topic. One more off-topic post in the next while, from anyone, will result in immediate suspension.
Best,
Miss Mackensen
This building exists in the material world and not the metaverse so like it or not, politics, finance and reality are forces in play with as much bearing on architecture as wind sheer and mass.
“First Republic was the second-biggest bank failure in US history, and the fourth regional lender to collapse since early March…and held $100 billion of mortgages. The other bids would have cost the FDIC several billion dollars more from its insurance fund”
There is no telling if this event will have an adverse or positive impact on 270 Park but it would be naive to think it will have zero impact. Who knows, maybe they have to add another 10 floors just to accommodate First Republic (kidding)
Funding for this building has long been acquired, but even if it wasn’t JP Morgan has more than 100 B in profit every year so it can cover it.
Thanks for actually answering my question. Also yeah lol, I’d love to see another 10 floors. (But the city is kinda sticklers on plans. Who knows maybe they’ll just accept a big fine and do it anyway lol)
I think it’s possible, though I wonder if having fewer cranes negates an increase in construction speed with smaller floor plates. I also wonder what the crane setup will be once they reach the final setback.