In addition to this (even though this lot was zoned under the Vanderbilt Corridor rezoning) many of the outer lots located on the outer region and even many in the center of the overall Midtown East rezoning area will never be supertalls simply because of the lot areas and the redevelopable FAR that they were alloted.
Thinking that every single new development in NYC (particularly those in Midtown) is going to be a supertall just because its NY makes no sense. Sure, air rights can always be purchased from landmark lots, but those air rights are not endless and they will expend at some point.
Office towers will always try to maximize large floor plates and sqft’age on any lot, the height will be a direct factor of the lot, 343 Madison’s lot is slightly over half the size of One Vanderbilt’s lot but they are both zoned the same, so it is just over half the height of One Vanderbilt.
Hotel/residential towers will always try to maximize views, meaning smaller floor plates to allow for better views per unit, also a direct factor of the height because this means a taller building, regardless of the lot size.
Steel for Phase 1/the MTA entrance started being erected yesterday, I’ve stopped by the site but didn’t take photos. The first column that is apart of the tower is being erected right now.
Another new project quietly rising. This is great news to be shared!
Yes! But construction of the tower will very slightly lag after the MTA entrance, simply because the MTA entrace will still be temporarily built out as always intended while the rest of the foundation for the tower is being excavated.
So there will be just the MTA shoebox for a very brief period before the tower starts to be built around/ontop of it.
I’m surprised that many development news outlets are not being that descriptive in their info when BXP already mentioned in their initial press release from yesterday morning some of the things that others are leaving as open items.
ikr, 175 was the tower many of us really wanted. Even with anchor tenants 343 Madison, 2 WTC, 70 HY, and 350 Park Ave will dump around 3M sf of spare new office space into the market and I could see this pushing 175 to next cycle. I’m still happy.
