No politics in normal threads/take to off topic! 
Ok. Thanks, Yimby.
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The city’s largest office landlord will need around $1.64 billion in equity to complete the planned 65-story, 1.7 million-square-foot building, SL Green said Tuesday at NAREIT’s REITWeek 2016 Investor Forum in Midtown.
As previously indicated, SL Green is currently in discussions with potential joint venture partners on One Vanderbilt, which is slated to rise to a height of more than 1,500 feet near Grand Central Terminal.
The company detailed how selling a 50 percent stake in the project would bring cover roughly $820 million of the required equity, and SL Green CEO Marc Holliday was confident the REIT would be able to score a partner and fund a project that will cost it north of $1,800 per square foot.
Holliday acknowledged that a “project of this size does present an element of risk.” Though leasing the building would not be a problem, he said, the scale and expense of the project meant SL Green would prefer to have a partner.
One Vanderbilt’s $3.14 billion price tag would put it in select company.
One World Trade Center, which opened in 2014, became the world’s most expensive office tower after costing around $3.8 billion to build.
Tishman Speyer’s planned 2.85 million-square-foot, Bjarke Ingels-designed office tower at 66 Hudson Boulevard — known as the Spiral — is expected to cost north of $3 billion.
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Isn’t 2 WTC expected to cost over $3b too?
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2 WTC has been reported to cost aprox $4B, which will make it the most expensive building in the world.
360 Tenth was also reported to be aprox $3B, which is pretty crazy considering it will be a residential building.
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I believe it will cost over than that, robert.
Curiously, according to this link below, if it’s going to be BIG’s design, then it will cost or close to $4 Billion!
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I didn’t know the estimated cost for 360 Tenth, VG!
Good to know.
I don’t believe 360 10th is resi?
It is. There may be a small office component, but it’s largely residential.
I am 99% positive this is mostly office but I guess we will see soon enough 
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The project has about 750k sf. That’s a huge resi tower or a short office block. People are expecting a massive supertall.
From McCourt’s website:
“We are tremendously excited to enter the New York City market by purchasing a property in one of the most dynamic and exciting area of Manhattan for real estate development,” said Frank McCourt, Chairman and Chief Executive Officer of McCourt Global. “360 Tenth Avenue is ideally placed for retail, residential and commercial use. It is adjacent to both the Hudson Yards project and the planned extension of the High Line park, which is scheduled to open in 2014. We are very optimistic about the long-term opportunities in the New York City real estate market, and we believe the value of this area in particular will increase substantially over the next decade. We look forward to developing an important new building that will tap in to the vibrant artistic and creative community of this neighborhood and add to the excitement of the West Side.”
That would make it’s $3B price tag make sense.
I am pretty sure it is a supertall. Remember that Hines did 7 Bryant Park which has enormous floor heights. These could be even larger.
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It is supposed to be a supertall, which suggests that, with only 750ksf, it’s largely residential. Is 7 Bryant even 500’ and how many sf does it have?
7 Bryant is 471K SF and 29 floors/450’. While 360 10th isn’t quite 2x the floor area, only doubling the height gets you 900’ @ 58 floors, which is a pretty respectable ratio. It could be something like 54-55 floors if ceilings are even higher which makes the FAR req work. In whichever case 360 Tenth is going to be a supertall or close.
I suspect that it may have a boutique office component given the demand for that space. I doubt that it will be purely office in light of all the office space available and under construction.
I hope that it starts soon. I walked by yesterday, and, as usual, nothing was going on. Hines recently filed a permit for the fencing, which was about to expire.
I was actually doing research for many details about the Chrysler Building and yet, I found this speaking a lot about One Vanderbilt! It’s pretty big and has lots of infos!
http://www1.nyc.gov/assets/planning/download/pdf/applicants/env-review/vanderbilt/06_feis.pdf
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Great find, Dragon!
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Thanks for sharing, great info!
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December 28, 2015
June, 2016
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