The second guy’s “chair” is still there though!
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I did spot some change though…
Comparing the site progress update pics, a particle of dust did move a few millimeters, so we do have movement in a way.
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SUMMARY
Over the past three weeks, we’ve been surveying and reviewing the site.
WEEKS OF 10/14 + 10/21 + 10/28
We will be coordinating foundation work with contractor, subcontractor and design professionals. There will be no active construction work during this period.
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Hopefully the external design but I have a feeling its the one on the Pizzarotti project portfolio. Anytime there’s a chance for cost cutting, NYC tends to disappoint. 
But lets hope I’m wrong. I want the external bracing to rise.
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It would be foolish to build this in today’s market. It’s possible they’re waiting for the next crash to settle in so they can get lower prices on labor and materials.
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I think we can safely say this building is on hold.
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Bob Gladstone, Gemdale put FiDi supertall on hold
Madison Equities and Gemdale Properties’ supertall condo at 45 Broad Street will be delivered shorter and later than expected, The Real Deal has learned.
A spokesperson for the developer confirmed that the condominium project is being put on hold due to “market conditions.” It’s not clear when the development team — which no longer includes Pizzarotti — will revive the project. When they do, the tower will be 80 feet shorter than the 1,115-foot-tall project initially pitched to meet Federal Aviation Administration requirements, according to Department of Building filings.
“45 Broad Street remains a top priority for the development team, and we have strong long-term confidence in the project’s viability,” a spokesperson for Madison and Gemdale said. “Due to short-term conditions in the Lower Manhattan market, we have decided to delay on constructing the building in the near future.”
Sales in FiDi sank almost 45 percent quarter over quarter at the end of 2019, according to a market report from Platinum Properties. There were 26 deals in the final quarter, the report showed, compared to 47 the previous quarter and 32 in the same period one year ago. The wider Manhattan market is also grappling with an oversupply of luxury inventory that could take more than six years to sell.
Confirmation of the delay at the 45 Broad Street follows years without a clear timeline for completion.
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Not surprising at all. The market is saturated with these luxury developments.
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Even with cuts, I fear this building will begin and then stall. FiDi is becoming a condo graveyard while midtown thrives… they are hitting the wrong market ($2M to $10M) when they should be going for $500K-$2M or $50-100M. There’s already too much of this middling stuff
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100% agree.
We need a lot more of the 500k-2 mil market. I’ve been preaching for years on this. Its a gold mine if they target that parameter. Might even be worth for them (just for hypothetical) to amend the current unit designs and if anything, seek some density alterations to get a high unit tower to make up the costs and gain a profit.
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I just hope it doesn’t wind up being down sized even more or a bad situation, the parcel gets sold to another developer. It’ll take a while to sell a lot of that over saturation. 5, maybe 6 years. I hope we don’t have to wait that long.
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Very disappointing news, I was really looking forward to seeing this built.
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Welcome Brandon.
The developer probably got spooked by the drama at 125 Greenwich, where a 1000 ft tower of an inspired design went belly-up after top out (but before closings). I’m not sure if Bizzi and Lorber lost their shirts in that foreclosure motion by their Singaporean lender, but they made a great product yet the people didn’t come.
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The sad thing is that the luxury market is the only one that produced great architecture.
I doubt we will see anything beautiful rise for a while now
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I think this will be built eventually, but its one of those unfortunate events in which I feel a long wait will await us. And its really due to the success of the luxury boom. Such saturation, yeah, an event resulting from the unit volume success in the last 3 years.
One positive is that Pizzarotti is no longer involved.
They should take a cue from 9 Dekalb. Add a chunk of affordable housing, and make the target niche not so astronomical. Eh… might help in the short term.
Shame we haven’t heard about 80 South either. Damn corruption sweep with Chinese capital.
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I was excited for both of these towers, damn man.
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