NEW YORK | 545 West 37th St | 622 FT | 46 FLOORS


#1

Continuing the discussion from NEW YORK | Hudson District - Hudson Boulevard Corridor Subdistrict:

Chetrit to raze Hudson Yards development site

Demolition may pave way for construction of new tower

February 25, 2014 05:49PM
By Katherine Clarke

The West 37th Street sites and Joseph Chetrit

The Department of Buildings has approved the demolition of four commercial properties on a prospective development site near the Related Companies’ Hudson Yards megaproject recently purchased by the Chetrit Group, according to records filed on the DOB’s website today.

The razing of the buildings will likely pave the way for Chetrit to build a new tower on the site, which is comprised of four adjacent lots at 541-545 West 37th Street and 540-544 West 38th Street.

The site has 172,813 square feet of “as-of-right” development potential, and up to 373,275 square feet of development potential through additional incentives, some of which may be offered through the city’s District Improvement Fund.

Chetrit acquired the properties for $26.5 million in October 2012, as The Real Deal reported.

The company could not be reached for comment on its plans for developing a new building at the location.

The site was formerly the subject of a legal battle between its former owner Baruch Singer and Singer’s lender Fortress Credit. Fortress filed to foreclose on Singer’s property in 2008 and finally took title following a foreclosure auction in 2012. city records show.

Listing:


#2

First Look: 540 West 38th Street

BY: NIKOLAI FEDAK ON SEPTEMBER 17TH 2014 AT 7:00 AM


540 West 38th Street, image by Oppenheim Architecture + Design

A major site in the Hudson Yards, spanning from 541-545 West 37th Street to 540-544 West 38th Street, has been put back on the market, per a fresh PDF by Massey Knakal. But before developer Joseph Chetrit re-listed the property, he hired Oppenheim Architecture + Design to create a plan for the lot, which is located in the Hudson Yards redevelopment area.

Thanks to a tipster, YIMBY has the reveal for what could have been, which is quite impressive; the site’s air rights total just under 400,000 square feet, allowing for something of significance. In this case, a 50-story mixed-use program was planned, splitting the available FAR rights between 100 residences, 350 hotel rooms, as well as ample amenity space.


540 West 38th Street, image by Oppenheim Architecture + Design

Ultimate plans could evolve pending the next owner’s additional acquisitions, as the site is located adjacent to the future Hudson Park & Boulevard, in an area where properties are quickly trading hands. Frontage on the future mid-block park will guarantee 540 West 38th Street some prominence, even though the towers to the south will be far larger, with many standing over 1,000 feet tall.

Oppenheim’s concept for the site is nevertheless exciting, presenting the potential for significant improvements compared to the lot’s current occupants, or lack thereof. The massing for the hotel and residential components would split apart as the building rises, ending in two separate parapets, the taller of which would stand 600 feet above the sidewalks below.


540 West 38th Street, image by Oppenheim Architecture + Design

While the configuration of Chetrit’s assemblage is somewhat oddly shaped, this presents an opportunity for innovation and creativity. If the current neighborhood trend towards consolidation continues, it would not be surprising to see Related or another major company acquire and integrate the parcels into an even larger assemblage.

For now, plans are pending resale.


#3

These have been under scaffolding and netting for a couple months now but no real demo appears to be taking place.

9/4


#4

622 Feet
46 Stories
Cetra Rudy



#5

nice! Hopefully Cetra Ruddy will use more than glass here. The Hudson Yards is becoming a giant funhouse mirror.


#6

All the buildings on the 4 sites are demolished and cleared.

3/24


#7

Great update, JC!

Hopefully, Cetra will hit another home run!


#8

Nice update JC!


#9

Nothing going on since the demo
5/8


#10

the design?

http://www.cetraruddy.com/project/hudson-yards-mixed-use-development


#11

Is that a blank wall or glass?


#12

I hope it is all glass. I despise those blank walls.

Anyway this render looks great. Especially compared to the previous renderings. And the design fits in well with a lot of the newer surrounding buildings in the area.


#13

Just took a screenshot


#14

Kaufu’s 470 11th is slated to rise on the left side of that tower and also on the left side is also a vacant parking lot & old building that is wxpected to one day yield a tower.


#15

I forgot about Kaufu’s project. I wonder what’s going on with it.


#16

still a legal clusterf*ck last I checked.


#17


#18

[quote][…]
Several blocks away, a bitter feud between former partners Kuafu Properties, Siras Development and Sean Ludwick’s BlackHouse Development has stymied plans for Hudson Rise, a 47-story hotel and condo project at 462-470 11th Avenue.
“So you almost have to become a chameleon trying to think of that one individual and how to respond to their particular objections and issues.”

The dispute — which has spawned a flurry of lawsuits and countersuits — stems from Kuafu securing the $44.4 million construction loan for the development from UBS in August 2015 — a move Siras principals Saif Sumaida and Ashwin Verma said amounted to Kuafu trying to take control of the project.

In February 2015, Kuafu filed a petition to dissolve the partnership, citing “deadlock” and “no hope of reconciliation” between the parties. Meanwhile, Ludwick, who faces up to 32 years in prison after a fatal DWI crash, is no longer affiliated with the project. And a prime site in the city’s most happening area gathers dust.
[…][/quote]


#19



#20