NYC Architecture and Development

Just like Proto in Cambridge heres an example in NYC of where you dont need to use a crazy intricate facade, lots of colors, or weird shapes to make a nice building. This looks like a really cheap facade but the massing is great and the facade was used the right way to make a very respectable little tower. Classical nyc massing goes a long way.

1522 First Avenue Rises Above Street Level On Manhattan’s Upper East Side​

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https://newyorkyimby.com/2023/11/15...reet-level-on-manhattans-upper-east-side.html
 
There are only so many offshore billionaires looking to park their money in US real estate. Some of these buildings have 1 br's going for $3M, whereas you can get a really nice, new building 1 br elsewhere in Manhattan for $1.3-1.5M. So who is going to pay DOUBLE, plus wild condo fees?

I have been seeing ads for units in 157 W 57th, the original billionaire building. The prices are still outrageous, even by Manhattan standards. I may sound out of touch but 157 opened about 10 years ago. While super high-end, the kitchens and some of the interior touches look "dated" already. The cabinets are a highly polished dark brown wood. Although more expensive than my entire house, people have moved on to different things. There are a lot of new buildings on the UES, the High Line, downtown, downtown BK, etc. - heck you can get wild and move into Lantern House or BIG's XI for less than billionaire's row or HY. The HY buildings are wildly overpriced.
 
I love it, build the hell out of these, let some distressed real estate PE guys buy it for a song, fill in the second pool on the roof, strip out the amenities, rent the parking spots (the last remaining scarce assets) for $1,000/mo, and list the units so that mere multimillionaires can now afford something that only those rarified billionaires could before them. You live by the (low) interest rates you die by the (high) interest rates.

The best way to eliminate billionaires parking their money in American real estate is to erode the marginal value of their investment with sufficient supply. Make them go buy art or Roman antiques or something.

OK now slightly more seriously, what's the actual fate of these buildings now that they're sitting there partially empty. They aren't being torn down and the taxes and staff aren't going anywhere. No one can afford to refinance in this environment, either. Prices must continue to soften.
 
Hunters point developments.

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Nyc is finally starting to (look) like a proper global mega-city, vs just a huuge US city. Dont get me wrong it was before, but everything was contained to the island, like most US cities with a central cbd. Finally now theres highrises in every borough and its starting to be for as far as the eye can see. Very cool.

https://newyorkyimby.com/2023/12/fa...-2-21-malt-drive-in-hunters-point-queens.html
 
41 stories coming to Yonkers!

Preliminary Incentive Approval Issued For 906-Unit Teutonia Hall Complex At 4 Buena Vista Avenue In Yonkers​

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“The Yonkers Industrial Development Agency has granted preliminary approval for financial incentives for Teutonia Hall, a $458 million mixed-use residential complex featuring two 41-story towers at 4 Buena Vista Avenue in Yonkers.

This two-phase project, overseen by AMS Acquisitions, will encompass a total of 906 apartments, with 91 designated for affordable housing, as well as 2,900 square feet of street-level commercial space. The lower six stories of the building will house a parking facility with approximately 907 parking spaces, designed to emulate the original Teutonia Hall building’s façade.

Phase one of the development will see the construction of the first residential tower and two-thirds of the parking podium. This phase aims to deliver 510 units, amenity and support spaces, 544 parking spaces, and around 2,200 square feet of retail space. Construction is planned to commence in September 2024, with completion expected by December 2027.

Phase two will involve the construction of the second residential tower and the remaining one-third of the parking podium, resulting in 396 units, amenity and support spaces, 363 parking spaces, and roughly 700 square feet of retail space. Construction for phase two is scheduled to begin in December 2028, with completion anticipated in December 2031.”

https://newyorkyimby.com/2023/12/pr...mplex-at-4-buena-vista-avenue-in-yonkers.html
 
Wish Boston wasn't as height averse in the greater metro area. It's great to see NY build up beyond the 5 burroughs. Feel like a project like this would only slightly have a chance in Somerville or Everett. But even then it would probably be DOA.
 
Polycentrism is the futures of cities. It fits in perfectly with the 15 minute city concept as well. In the past US cities had a central business district surrounded by apartments/condos and then the suburbs with highways leading to the downtown core from every direction. In the future there will be many different downtowns spread all over a city.

Take Boston for example it used to just have most jobs in peninsular Boston, the small area between the charles river and fort point/south bay. In the future there will be a downtown core in every neighborhood. Dorchester will have its own core at the bayside expo site, southie has its own core in the seaport, east boston - suffolk downs, brighton - boston landing, allston - allston landing, roxbury tremont corridor and nubian, fenway - boylston st… etc.

Now someone who lives in dorchester can walk/bike/take transit to the new cbd at bayside, ppl in eastie can walk/bike/take transit to suffolk downs..etc. Plus on top of that the areas around transit stations are being built up to take better advantage so even ppl commuting from one neighborhood to another shouldnt have to walk far from a station. On top of that once regional rail comes it will tie everything together.

Its nice to see that nyc is doing the exact same thing just with their boroughs. It will have the exact same effect and allow ppl to live closer to work vs everybody commuting to manhattan. Even better for them though theyre actually going to build a radial transit which is going to completely unlock all of this potential. Really fun yo watch.
 
Calling that "570 Washington Street" sounds a lot better than "## West Side Highway". Interesting that one of the investors is Baupost, a massive Boston hedge fund.
 
Look! Labs CAN be tall...

Hoping Kendall starts heading for these lab proportions, should the life science boom continue.

newyorkyimby.com

Could New York Soon Be Home To The World's Tallest Lab Buildings?

SGA has revealed proposals for BioTech Tower, a 37-story life sciences skyscraper along Eleventh Avenue in Hudson Yards.
newyorkyimby.com

BioTech Tower, a 37-story life sciences skyscraper along Eleventh Avenue in Hudson Yards. The structure is planned to yield 650,000 square feet of research and development space, and will stand as the world’s tallest laboratory building.
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