, Tue, September 11, 2018
Image courtesy of Michael Vadon’s Flickr
In 2010, Lower Manhattan was still deeply scarred by the attacks of 9-11. With much of the neighborhood under construction, a high vacancy rate, and few full-time residents, walking around the area, especially outside business hours, often felt like walking through a ghost town. It was, in many respects, a neighborhood in waiting.
Since 2011, which marked the opening of the 9/11 Memorial—and the symbolic end of the neighborhood’s long period of recovery from the 9/11 attacks—Lower Manhattan has undergone a transformation that is difficult to ignore. New businesses have opened, new residential developments have launched, the vacancy rate has drastically declined, and in many respects, an entirely new neighborhood has taken shape.
The dawn of a new Downtown
Photo of Michael Cohen via Wikimedia
As they say, never underestimate desperate people. In May, Michael Cohen, the disgraced former personal lawyer of Donald Trump who is now under federal investigation, put his $9 million Trump Park Avenue apartment on the market as collateral against a bank loan. So it was a bit surprising when he turned around dropped nearly $7 million on a condo in Tribeca’s flashy new condo tower 111 Murray Street. But it makes a bit more sense now, as The Real Deal learned that Cohen has listed the 19th-floor apartment as a $25,000/month rental. He made the purchase as an “investment” after allegedly facing pressure to defer the taxes on the $3.3 million sale last year of his Trump World Tower apartment; by closing on a new unit, he was able to take part in the 1031 exchange that allows investors to roll proceeds from one transaction over to another.
Get the scoop
Photo of Michael Cohen via Wikimedia
As Michael Cohen put his $9 million Trump Park Avenue apartment as collateral against a bank loan this spring, the former personal lawyer of President Donald Trump was signing a deal for a $6.7 million pad in Tribeca. The Wall Street Journal reported on Thursday that Cohen, who is under federal investigation, bought a 19th-floor apartment in April at 111 Murray Street, a 792-foot-high condo tower designed by Kohn Pedersen Fox.
Get the scoop
Gray silhouettes from left to right: Shanghai World Financial Center, CTF Finance Centre, One WTC, Lotte World Tower, Mecca Royal Clock Tower, Shanghai Tower, Burj Khalifa. Click link here to enlarge >>
As the Skyscraper Museum so aptly writes, “Tall and BIG are not the same thing.”
Echoing 6sqft’s recent post on global supertalls, the infographic above illustrates how when the height of New York’s tallest towers are stacked up against the sky-high constructions abroad (and 1 WTC), our city’s skyscrapers truly are “runts on the world’s stage.” The image also reveals that not only do these towers lack significantly in height, but also in girth. This means what really makes the design of all of New York’s new skyscrapers so unique is not how tall they are, but rather, how slender they are.
more on all that here
Carter Uncut brings New York City’s latest development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter brings us his fourth installment of “Skyline Wars,” a series that examines the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. In this post Carter looks at the evolution of the Lower Manhattan skyline.
Lower Manhattan at the start of the Great Depression was the world’s most famous and influential skyline when 70 Pine, 20 Exchange Place, 1 and 40 Wall Street, and the Woolworth and Singer buildings inspired the world with their romantic silhouettes in a relatively balanced reach for the sky centered around the tip of Lower Manhattan.
Midtown was not asleep at the switch and countered with the great Empire State, the spectacular Chrysler and 30 Rockefeller Plaza but they were scattered and could not topple the aggregate visual power and lure of Lower Manhattan and its proverbial “view from the 40th floor” as the hallowed precinct of corporate America until the end of World War II.
The convenience and elegance of Midtown, however, became increasingly irresistible to many.
More on the the history of Lower Manhattan and what’s in store
Grounded in the foothills of the downtown skyline, where the quaint streets of Tribeca scale upwards into the shimmering temples of capitalism, lies the 35,000-square-foot construction site of an upcoming 62-story condominium known as 111 Murray (previously called 101 Murray). Architecture critic Carter Horsley exclaims, “111 will be the most elegant addition to the downtown skyline in decades.” Truly, the Kohn Pedersen Fox Associates-designed tower–reminiscent of a champagne flute with its curvaceous body, narrowing mid-section, and flared crown–will be a refreshing expression of form and fluidity that will counteract the blocky towers that have shrouded the once romantic skyline. We’ve uncovered some brand-new renderings of the tower, and they continue to impress.
Take a look right here
Demolition permits have been filed with the Department of Buildings for the tallest condominium building south of ‘Billionaires’ Row.’ The approximately 950-foot tower revealed by real-estate blogger YIMBY last month will house 129 condos within a dramatic champagne flute-like design by the architects Kohn Pedersen Fox Associates.
Tentatively named 101 TriBeCa, the uppermost floorplates increase in size to take greater advantage of views uptown and towards the river that most likely will remain unobstructed years to come due to restrictive zoning in TriBeCa and Battery Park City.
more on the new tower here
If you didn’t like the renderings revealed earlier this year for the much-anticipated tower at 101 Murray Street, you’ll be pleasantly surprised to know that they were incorrect. New renderings – the right renderings- have been released to New York YIMBY… and she’s a beauty.
101 Tribeca, as she’ll be called, is being developed by Fisher Brothers and The Witkoff Group, and designed by Kohn Pederson Fox. The building is set to soar over Tribeca at roughly 950 feet tall with a sleek, slender design that elegantly bevels out at the top. The 63-story structure will house 129 condominiums, totaling 433,800 square feet. Its tall ceilings, coupled with its sheer height, promises to deliver unobstructed views that will stretch as far as New Jersey and Long Island.
Find out more about this record-breaking structure here