Here’s a photo of 842 7th Ave that I took on Jan 22, 2016 from the 54th St. Side. It sits next to a stunning old limestone and brick building.
Here it is from 7th Ave. The little building to the north, 846 7th Ave, also is coming down.
“[Mr. Barnett], tear down this wall [of junk]!”
It’s about time that this gem gets a worthy neighbor!
Here’s the site from 56th and 7th.
I can’t wait for this junk to come down!
Extell Development landed a $143 million loan from Bank of the Ozarks to refinance one of its Midtown projects.
The mortgage covers three parcels at 201 West 54th Street, 846 Seventh Avenue and 1706-1720 Broadway, which all sit on a single block along 54th Street between Seventh Avenue and Broadway. In November 2015, Gary Barnett’s Extell filed plans for a 29-story residential building at 842-846 Seventh Avenue. It looks like Barnett has yet to land a construction loan.
Bank of the Ozarks declined to comment, and Extell could not immediately be reached.
The new loan replaces a $190 million mortgage from the same lender, which had $130.2 million in unpaid principal remaining, property records filed with the city Wednesday show.
Last month, Extell refinanced a $235 million loan at its Central Park Tower condo development after it struggled to land construction financing.
Arkansas-based Bank of the Ozarks has emerged as one of New York’s most active construction lenders in recent years.
Just curious, do you live in this neighborhood?
Me? I used to live nearby.
Mr Walpole, why the hostility toward 201 W 54 St? It was designed by the Blum Brothers, who also designed the Adlon, on the SW corner. Surely whatever Extell ends up building on the site won’t be an ‘improvement’. 201 could use a cleaning, certainly, but its low-rise profile is welcome in a neighborhood getting crowded with megatowers (think of the nearby Marriott, with its blighted, vacant lower stories).
I do, at the Adlon. And I know the Pinkhasovs of 12 F
I can’t wait for this crap to come down.
Personally, I have a soft spot for that little building at 201, but no, I can’t make an argument for keeping it other than it’s an increasingly rare window to the sky in a neighborhood that’s going dark. But what they propose–as well as on the other side, where the same developer has bought the old Amalgamated Bank building, and now the old Carnegie Deli site one block north–won’t so much accompany the jewel you rightly describe at 205 as crowd it. I do have a stake in that neighborhood, that corner even, and its future, and I just wonder why people who don’t have such strong opinions about it. This site is called YIMBY, but it’s my back yard, not yours.
Nice shots, JC.