NEW YORK | 36 Central Park S. (1 Park Lane) | 1,210 FT | FLOORS


#42

Nothing is confirmed but I think construction here is unlikely before 2020 at the earliest. Maybe 2021-2022.


#43

Hi, do you mean the construction is unlikely to start before 2020?


#44

Since the original construction start day was June 2016, is it possible that the developer will postpone it more than 3 years because of the scandal and luxury apartment market?


#45

Yes, construction did not start in June, the hotel here is still fully occupied. The market is going to become very saturated in surrounding blocks the next two years so will need at least a few years for things to become favorable for 36 CPS to move forward.


#46

Do you think 1 Park Lane is over priced? Since the luxury apartments in NYC are not as popular as 2014.


#47

36 CPS will rise, and it will be a great success.


#48

You think it’ll happen before 2020?


#49

It might start before then. 3 years is a long time. This also is the best location.


#50

True re: location, I just think the competition is too intense… 220 CPS also has great location, 520 Park pretty good, 111 W 57th a bit worse but improving and probably better product than either of aforementioned. Once those three are mostly sold I could see them closing the Helmsley.


#51

True. Then again, how many units have been sold in 220 CPS, and how many are there in 111 and 520? I think they’re both small.

I don’t think that Witkoff would mind going head to head with Gary B because 36 CPS is a much better location than 217 W 57th.


#52

I don’t really see 36 CPS and 217 W 57th competing for same buyers. Very different locations and product. Thus in that regard I think you are correct and head to head is not a problem for them.


#53

So you guys think that 36 CPS is an incomparable location so it will be converted to a luxury condo even though the selling speed of the neighborhood is slowing down? I hope the Witkoff will find some other partners to replace the Malaysian


#54

It won’t be converted. It will be razed.


#57

What will happen to 36 CPS now? Will the Witkoff find some partners who are willing to put millions of dollars in this project or will the government auction the portion the took from 1MBD? How long will the auction take?


#59

Got a link? :slight_smile:


#60

Nope, but I have the pdf :slight_smile:


#61

The first I526 of Park Lane Project is approved :sweat:


#62

Via the real deal.


#63

What in the everloving hell…?

VG, do you have a link to the article? Couldn’t find it on mobile.

Edit: Nevermind, this popped up in last year’s YIMBY article including the Handel and Herzog & de Meuron designs; apparently it’s a Pelli Clarke Pelli design that (mercifully) did not win the design competition.


#64

I love it, but I thought that Witkoff will use HdM;