That’s not going to happen. There are millions of SF of brand new space coming onto the market. No one would finance this, and Joe doesn’t have $2b in cash to build without a loan.
Nothing will happen here. Moinian will not sign a tenant, and no one will finance a 2m sf spec project.
Nice, but this won’t be built for a very long time. There’s no demand for it.
The one time I am happy to see this type of message on a thread
I fear that they’re going through with this.
In an area that should be full of daring, modern architecture, we get a bland, uninspired box. It represents the worst of New York development, and I fear the rest of the open plots will follow suit.
I don’t think so. They can’t build a 2m sf office tower on spec., and there’s no demand. I think that Moinian will sell the site to Related, and a condo will rise there in the next cycle.
Well I’ll be overjoyed if you’re right! Plus I’d like to see Related increase their site, so there’s more of a master plan to this area.
i foresee this getting the 2 WTC treatment. Built up to grade and capped off until a tenant comes to the hook. Hopefully that will give Moinian time to reconsider what rises above.
We are intensely focused on delivering The Moinian Group’s flagship project, 3 Hudson Boulevard, our 2 million-square-foot, 57-story Class A office tower located in the heart of the Hudson Yards District. We are constantly making updates to further align 3 Hudson Boulevard with current and future architectural and environmental standards. We officially broke ground on the project in November of last year, and construction is now actively underway.
Can anyone translate?
I’ll translate: BP and Moinian will build a residential tower here within 5 years.
To his credit, Moinian bought this lot for around $50m, and it’s probably worth $400m today.
But do you think he was alluding to a potential redesign for the project?
Yes. He’s astute and realizes that he won’t be building a 2m sf office tower any time soon. The project initially was supposed to include offices, condos, and a hotel. I’m sure he’s aware that that’s the most viable use for this tower.
This will be 2 WTC 2.0: a foundation Waiting for Godot.
Hopefully the better building gets built first (and not this mediocre thing)!
You’re probably right. But ever since they neutered this design I don’t care much about it anyway. Another building with so much potential gets converted to a boring box