Via MikePScott’s Flickr
JPMorgan Chase has tapped starchitect Norman Foster to design its new 2.5 million-square-foot headquarters at 270 Park Avenue, as first reported by Bloomberg. The new 70-story tower would replace the bank’s current offices, located in the Union Carbide building. Foster + Partners designed the nearby office tower at 425 Park Avenue, as well as Apple’s spaceship-like headquarters in California.
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One Hundred East 53rd Street, photo via CityRealty
The Midtown East tower designed by Norman Foster’s Foster + Partners is finally finished. As CityRealty reported, the glassy design of One Hundred East 53rd Street takes into account the bronze hues of its historic neighbor, the Seagram Building, with a counter curtain wall. The luxurious residential building continues to be a magnet for celebrities, including couples like George and Amal Clooney and Cindy Crawford and Rande Gerber. The amenities are also of star quality: a wellness center, library lounge, swimming pool and a restaurant from the French chef Joël Robuchon who has earned 34 Michelin stars.
A decade after first embarking on Hudson Yards–the largest private development in the nation’s history–developer Related Companies is in the thick of things, with listings live at 15 and One Hudson Yards and construction underway at 30, 35, and 55, as well as The Shed cultural center and the Vessel public art piece. Keeping the momentum moving, Yimby has now uncovered a new rendering of Norman Foster‘s 985-foot 50 Hudson Yards, which at $3.94 billion will be the city’s most expensive office tower, and the first view of the food and beverage pavilion that will sit in the Eastern Railyard.
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The original rendering of 3 Sutton Place by Foster + Partners
Following a contentious legal battle, Gamma Real Estate has won the foreclosure auction and closed on the $86 million acquisition of 3 Sutton Place, a development site where the firm plans on building a 700-foot-tall condominium tower. As Commercial Observer learned, this includes three neighboring lots at 428-432 East 58th Street between First Avenue and Sutton Place. Earlier this year, 6sqft explained that a bankruptcy judge authorized the sale of the property after Joseph Beninati’s Bauhouse Group failed to pay back creditors. While Stephen B Jacobs remains the executive architect, Gamma has hired Thomas Juul-Hansen, a Danish-born architect, who will design the skyscraper.
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When completed, Related Companies‘ and Oxford Properties Group’s 50 Hudson Yards will be the city’s most expensive office building, coming in at $3.94 billion. To make starchitect Norman Foster‘s pricey vision a reality, the developers had filed an application with the New York City Industrial Development Agency to take advantage of financial incentives that were enacted in 2006 to encourage development in Hudson Yards. And according to a new report in Crain’s, the agency has approved $195 million in such tax breaks, which include making fixed payments towards the 985-foot tower’s development costs instead of paying property taxes that vary from year to year, as well as receiving a discount on the mortgage recording taxes.
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It’s been less than a month since it was revealed that starchitect Norman Foster would be designing the Related Companies‘ and Oxford Properties Group’s 50 Hudson Yards commercial tower, but the developers have already pegged the cost of the project at $3.94 billion, which will make it the city’s most expensive office building, reports The Real Deal. The 985-foot tower, where BlackRock has already signed a 20-year lease for 15 floors, will surpass One Vanderbilt‘s projected $3.14 billion price tag and Bjarke Ingels’ planned $3 billion+ High Line tower known as The Spiral, as well as One World Trade Center‘s current record of $3.8 billion.
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When Gamma Real Estate’s $98 million bid won the debt-beleaguered site at 3 Sutton Place just a couple weeks ago at a bankruptcy auction, 6sqft noted that the firm could either re-sell, bring the original plan for a 900-foot condo tower by starchitect Norman Foster to fruition, take on a joint-venture partner, or move forward with a plan of its own. The Real Deal now tells us that Gamma filed plans with the Department of Buildings for an 844-foot, 67-story tower with 389 apartments. However, he says this is to “safeguard the property” while the firms weighs all the aforementioned options.
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It’s been 14 months since developer Related Companies bought the site of a former McDonald’s at 34th Street and 10th Avenue, the final parcel needed to complete Hudson Yards. Initial reports said the site of 50 Hudson Yards would hold a 62-story, 1,000+ foot commercial tower, but Related and Oxford Properties Group have now revealed that the structure will rise 58 stories and 985 feet and be designed by starchitect Norman Foster. As first reported by Curbed, the news comes on the heels of BlackRock’s decision to sign a 20-year lease for 15 floors, or 850,000 square feet, in the building, leaving their long-time Park Avenue home in a show of confidence in the mega-complex.
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In October 6sqft reported that work on Thor Equities‘ 7.7-acre waterfront office and retail complex, architect Norman Foster‘s first Brooklyn commission, had begun. A recent meeting between the developers’ representatives and community members to discuss plans for the 818,000-square-foot two-building project on the former site of Red Hook’s Revere Sugar Refinery–known as Red Hoek Point–revealed concerns that the Red Hook community is being excluded from development plans.
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Despite the fact that the site is headed to the auction block next month, local residents and elected officials are rallying to prevent the possible construction of a 950-foot condo tower on East 58th Street in tony Sutton Place. Curbed reports that the group, which includes Councilmen Ben Kallos and Dan Garodnick and Manhattan Borough President Gale Brewer, have submitted a plan to the City Planning Commission that proposes a height cap of 260 feet for the area bounded by East 52nd and East 59th streets east of First Avenue where there is currently no limit on how tall apartment towers can be.