I hope this doesn’t turn out to be another Tribeca Royale aka 19 Park Place. That tower has been u/c since people first discovered fire.
no progress because no money. Devs are in talks for a construction loan; Shvo is being side-lined.
Shvo no longer has any control over the direction of the nearly $900 million project in Lower Manhattan, according to sources close to the deal. He will, however, retain his equity stake, which sources said is less than 10 percent.
Sources told TRD that the indictment had been a source of concern for lenders on the Rafael Vinoly-designed project. The developers are currently in late-stage negotiations to secure a construction loan from United Overseas Bank for the project, sources said.
They shvo-ed him!
Robert called this long ago. Shvo proved to be a schmuck!
Vector also has $8 million in 125 Greenwich Street, Bizzi & Partners’ condo project in the Financial District. The partners are looking to close on a construction loan from United Overseas Bank of Singapore, said to be in the range of $500 million.
Great news. At its reduced height, a good filler nonetheless. Yet another tower for the area further making the canyons bigger. I’d imagine soon we will see this not being stalled.
How tall is it again?
Checked the latest zoning diagram (as of 2017/06/14). Looks like 888 ft to the top of the bulkhead. 73 floors.
Well actually the total height is 912.5 feet, coming from the diagram on the zoning document. When you add the height of the roof (840"5’) and the rest of the numbers above, you get 912.5"
(Click for full images)
Good point. Nevertheless, a solid addition, and quite frankly, I’m surprised with this project. I really started to get pessimistic after the tribulations with Shvo, but glad that it’s on track. The news of 450m dollars is a solid bet this is happening.
IMO, the design is safe. It’s not too flashy, and not a 5 Beekman. It fits in. Just like with Sutton Tower, I think its better to play safe when conditions are deemed risky. Granted could this have been built to the full extent that it originally was intended? Sure… and I think most of us would have waited too. At the end of the day, its better than nada at least.
I think that the rounded corners will look really good.
Not just yet!
i’ve lost track of the amount of renderings this tower has had. This one appears to be the most recent as they added in 133 Greenwich. Curiously, the other renderings on Bizzi’s website where this rendering was located have the tower being taller than 4 WTC,
A proposal for the site before the final design:
Preferred that design even though it’s shorter.