Famed architect Zaha Hadid is known for her curvy, futuristic buildings from China to Belgrade. A rendering of the glass and steel building, an 11-story condominium adjacent to the High Line, was released today by developer Related. The development, atA 520 West 28th Street in Chelsea, will have 37 residences, as well asA a roof terrace, indoor pool and spa, entertainment space and playrooms.
On yet another biting cold day, Ingels cheerfully locks his foldable bicycle to a street sign in Chelsea and slides into a diner banquette to discuss his New York debut. Ingels, who has been a visiting professor at Rice University, Harvard, and Columbia, is an unabashed Americanophile.
The Engineering Directorate's new office building, the first of several new buildings being constructed to replace the Center's older current facilities, is scheduled for completion in September 2004.
The initial public offering for the Empire State Building could be in jeopardy if a Supreme Court judge presiding over the case decides in favor of stakeholders who are against forming a REIT. Malkin Holdings LLC — which manages the portfolio — has said it will buy out investors at $100 for every $10,000 they paid for a stake in the world famous office building if they don’t vote in favor of REIT formation. The proposed Empire State Realty Trust, owned by Malkin Holdings LLC, has told stakeholders that it is delaying a vote on its IPO until at least April 8, the date Judge Sherwood has given both parties to file briefs on the buyout, according to Bloomberg News.
The buyout proposal, if found legal, would mean that once a majority vote of 80 percent is reached, investors who are opposed would have 10 days to switch their vote or be penalized with a $100 share buyout.
The IPO, which is being underwritten by Bank of America and Goldman Sachs, would be the second largest ever for a real estate investment trust in the United States, according to the Wall Street Journal.
However, stakeholder Andrew Penson, president of Argent Ventures, which owns Grand Central Terminal, said that the proposed REIT structure could be problematic when it comes to price valuation. Empire State Building Investors, an independent group of stakeholders, maintains a website that outlines how owners can vote “no” on the IPO proposal. Now, for the first time, the Pritzker Prize winner has been commissioned to design a building in New York City. Having naughtily dropped a few public hints about the project before his client, Durst Fetner Residential, was quite ready for the attention, he is now simultaneously excited and cagey. Ingels had just come off three years at the Office for Metropolitan Architecture, Rem Koolhaas’s Dutch genius factory, and he and a former associate got the job of building the Copenhagen Harbour Bath, a peaked wooden iceberg from which kids can dive into newly limpid city waters. Empire State Realty Trust — in the Civil Branch of the New York County Supreme Court, Justice Sherwood adjourned the case until May 2 for trial, according to New York State Unified Court System records. In a Securities and Exchange Commission filing dated March 22, Malkin referenced a March 14 letter to stakeholders saying that close to 60 per cent of stockholders support the plan.
The site contains links to class action court filings, building cash flow statements and news articles. In every growth spurt, rental towers pop up all over the city like architectural acne, a pox of large, unsightly blocks whose creators claim it’s the best they can do, given financial realities and a restrictive zoning code.
The new building, he explains, will fuse two apparently incompatible types: a European-style, low-rise apartment block encircling a courtyard, and a Manhattan tower-on-a-podium, yielding something that looks like neither and behaves like both. By 2005, his first residential project had sprouted in the planned quarter of Ørestad, an open field fifteen minutes by subway from downtown that now houses a concert hall designed by Jean Nouvel. New York is ready to embrace such a griffin, he insists: “This is the country that invented surf and turf!
For the desolate juncture of 57th Street and the West Side Highway, he has designed an utterly unexpected form, neither tower nor slab nor even quite a pyramid, but a gracefully asymmetrical peak with a landscaped bower in its hollowed core.
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