I can’t read the link unfortunately, could it possibly be redeveloped in the future?
Tishman wanted to redevelop this pre-pandemic, but Colgate Palmolive (which built the building back in 1955) nixed the plans. Their lease ends in the 2030s, so perhaps it will be redeveloped next decade.
To retain an anchor tenant, the owner of a Midtown East building has abandoned its plans to take advantage of the neighborhood’s recent rezoning to redevelop the spire.
Consumer products giant Colgate-Palmolive announced today that it has renewed about 242,000 square feet at 300 Park Ave. for its global headquarters. Tishman Speyer owns the building.
Colgate-Palmolive had been leasing about 312,000 square feet at the building, according to the real estate database CoStar, for a term that stretched until 2023. The new lease extends its occupancy by at least a decade beyond that expiration point while reducing the company’s footprint, a source familiar with the transaction said.
Tishman Speyer had been inserting demolition clauses into leases it signed with tenants at the 26-story tower in recent years to allow it to push them out in case it decided to raze the 770,000-square-foot property and use the Midtown East rezoning plan to erect a bigger, state-of-the-art skyscraper in its place. After Colgate-Palmolive objected to the inclusion of such a clause, however, Tishman Speyer forfeited it in order to secure the deal.
I wonder how big it can be
~850K ZSF, so big, but not comparatively big to other projects in the area.
Here’s a link for that
Is that not the same article from Mackensen’s thread starter post?
Yes it is. But now she can actually read it
Ah I see, it’s the archived version
Well this one is in a pretty good location. 270 is just 2 buildings down.
Can’t wait for the all of these buildings on this Avenue to be built out.
In terms of height and the “850K ZSF” (I know FAR and square feet don’t equates to height), how tall could it potentially be?
That looks to be around 425 Park
As a speculative question, I can’t answer that. Guestimating heights is not possible.
Ah I see. I was curious because when you mentioned that the “850K ZSF” is so big, I’d assume that it would be really wide or very tall (as tall as 425 Park or even around 1200ft)
I was using so as a conjunction (that it is big for that reason), not an adverb (that it would be so (very) big)
Outside of that, the building would be neither really wide nor very tall. The actual number is closer to ~800K ZSF (based on an accurate calculation), the lot is not wide nor long. If it is another commercial building, it would not be tall because the floor plates would not be small. The current building is only 328’ tall and uses 2/3rds of the comparative 1million GSF on the high end of a new development.