Results tagged “extell”

Back in 2005, it was the biggest residential land deal in the history of the city—Hudson Waterfront Associates, the Hong Kong-based consortium that worked with Donald Trump to develop and market the massive Trump Place development on the West Side, sold a 77 acre parcel of land to Extell for $1.76 billion. Now the Manhattan DA's office revealed it just arrested the project director for tax evasion and are looking into whether Hudson Waterfront evaded taxes on a $17 million portion of deal.

The Post reports that developer Bruce Ratner's Forest City Ratner is "trying to cut back on much-needed transit improvements, which he promised in exchange for approval for the controversial $4 billion" Atlantic Yards project. This is the latest bad news for the ambitious project—most recently, Ratner has been downsizing the buildings.

What recession? The NY Times reports that developer Extell, the Greater New York Hospital Association, and investor Israel Green are teaming up to build a "60-story glass-and-steel tower on the West Side of Manhattan that would function as an international showcase and permanent conference center for the hospital industry." What's more, they think the building called the World Product Centre, which be located on 11th Ave. between 33rd and 34th Streets (where the Copacabana was) and would open in 2013, would be the anchor for the Hudson Yards. The partners claims the health care industry is, as the Times puts it, "recession-proof, since people always get sick." Still, with estimates are $500 million to $1 billion for construction, Community Board 4's Land Use Committee Chair Anna Levin said, "It may not be a stupid idea, but at this point I think it’s kind of an isolated idea, wrapped up in a whole bunch of uncertainties."

The MTA has apparently narrowed down the list of contenders to develop the West Side Rail Yards - and may even ask them to team up together. According to Crain's New York, the MTA favors the developers who have already lined up tenants. Which means the front runners are The Related Companies with News Corporation and Goldman Sachs, Durst & Vornado with Conde Nast, and Tishman-Speyer with Morgan Stanley. But front runners may need to be partners as well!

While everyone knows that the proposals five development teams have offered up for the MTA's West Side rail yards are likely to change, the NY Times' architecture critic Nicolai Ouroussoff made it clear that he hopes they do, with a withering review of the five plans. Noting the great opportunity that developers have, Ouroussoff says the designs "are not just a disappointment for their lack of imagination, they are also a grim referendum on...

A storefront at the corner of Vanderbilt Avenue and 43rd Street (across from Grand Central) may be a window into the future of the West Side Rail Yards. The MTA unveiled an exhibition of the five proposals to redevelop the rail yards on the Far West Side of Manhattan, and the public will get a chance to see the models every day (except Thanksgiving) through December 3. And what's more, the MTA wants the...