I agree that global warming is a concern but Sandy was NOT “just a small tropical storm.”
It combined with another storm off the coast and became massive. The only reason it was technically downgraded was because the wind speeds dropped below “hurricane” thresholds. But the storm surge combined with the awful high tide timing created a unique situation.
That aside, all newer construction withstood the storm as intended. It’s no secret the subway systems are in dire need of upgrades and thus sustained a lot of damage.
OK the coconuts reference was extreme. They wouldn’t survive winter.
Also sorry if I hurt people by mentioning Sandy was a “small storm”, especially those who have been impacted directly or indirectly.
However, having personally witnessed damages done by dozens cat 3-5 cyclones (I work for a UN disaster response team), i keep my statement that Sandy’s winds and surge were not exceptional by international standards. The $cost was huge but only because it impacted one of the most populated/developped areas in the world.
And yes this cyclonic trend is going to increase year over year, despite what our “politicians” claim. A good chunk of New York, including this building will have their feet under water by 2100. By then cyclones/surges will be happening every year.
Many of us are in denial or don’t care because we’ll be long dead by then.
I agree. It’s messed up how many people deny this and are actively against renewable energy sources in the face of facts.
But in the interest of keeping this thread about One Seaport, I think building codes as a whole are rising to meet these needs. Some of the older systems like the subway were more heavily effected by flooding but the whole system needs to be upgraded regardless. When the MTA gets around to this (like when they shut down the L line) I’m sure new counter measures will be implemented.
The building’s amenities are pretty modest. The pool looks like a large hot tub, the gym looks small with only a few pieces of equipment, and the common area looks like it could accommodate up to a small family. Even though people may not use a building’s amenities as often as they think they will when they’re buyers, owning in a building with pimped out amenities boosts the home’s value relative to comps because it’s the kind of thing buyers, especially younger buyers like millennials, like to see.
This may be old news by now, but Fortis landed a $66 million mezzanine loan. While not great news for the developer, the potential sell-out value of the building approaches $300 million. At some point I’ll have a look at how many of the 73 units currently in-contract were purchased by overseas investors who don’t intend to actually live there.
Due to the high winds along the eastern shore of Manhattan and the tower’s high aspect ratio of 15+:1, a unique foundation system was designed using accessible rock anchors capable of retensioning.
Fortis needs to get its act together and wrap this up. If they’re not able to, not only is their cash windfall from this development jeopardized, but their ability to conduct future large-scale developments in NYC will be damaged. Would you loan someone $100 million if they had a reputation for not delivering on time and unsafe work conditions?
This does make me think Fortis is struggling to wrap construction for several reasons. I didn’t really focus until now on how young and relatively inexperienced Fortis is. That’s not to say they can’t crush any project they take on. But this building seems like it’s still a massive headache for them. Come on lads, finish it!
