12.22.21
Looks like construction is imminent.
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Finally!!
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NYC: The Promised Land!
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Per NYguy on ssp:
"Prepare mortals, new supertall incoming. The two Fifth Avenue supertalls (262 the other) nearing construction will be the first of this new wave.
And they finally put the new design up on site."
January 7, 2022.
“The landmark next door isn’t coming down, don’t worry.”
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NYguy was a regular member of WiredNY years ago: he always had a lot to say, and knows about NYC construction. He was a ‘structural engineer’ and got a job at the NYC Dept. of buildings sometime after the eventual demise of WNY: I wonder if this is the same guy - or should I say same NYguy.
I bet some of the original WiredNY posters, some of who post here regularly, remember him; he was quite an active member. http://wirednewyork.com
Anyway. I do wish he would post here on YIMBY - who ever he is - as he has great news scoops on the NYC construction scene. This post being one of many.
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I remember that. Wired New York was a great forum.
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Yes, and LondonLawyer was one of the best… 
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As was Infoshare!
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P.S.: It’s hard to believe that we’ve been on the forums for over 20 years.
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Yes, and for me twitter, Facebook too. Glad I don’t play video games anymore; way too much screen time is a bad habit. This site has the best ‘educational’ value of all other on-line activities. One must sill limit the the screen time as a ‘best practice’ for social media.
Cheers.
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I agree.
Highly disagree.
The most prolific lender to Manhattan property developers isn’t Well Fargo & Co. or Citigroup Inc. or any of the other big global banks. It is Bank OZK, which not that long ago was an obscure lender from Little Rock, Ark.
The bank has become one of the country’s most aggressive financiers of skyscraper construction. OZK’s chief executive, George Gleason, said on a recent earnings call that the lender could issue its biggest ever construction mortgages in 2022.
OZK is nearing a deal to issue a $410 million loan to Rabina, the developer of a roughly 1,000-foot-tall Manhattan office and luxury residential tower on Fifth Avenue, which would be one of its largest loans, the bank said.
The lender is one of a group of regional banks and debt funds that are propelling the recent surge in commercial real-estate development. Proposed New York City construction in the fourth quarter, for instance, totaled nearly 32 million square feet, according to the Real Estate Board of New York, the city’s most for a single quarter since 2014, the trade association said.
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Wow! Gosh this is such a nice project.
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I wonder if Walmart money is backing this bank?
Cartel money. The Ozarks have more coastline than California, but maybe that’s not enough.
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I thought about buying OZK short but decided against it.
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