City
Spire
150 West 56th Street
New York, NY
THE STORY:
Turned an available parking garage adjacent to City Center Theater and 500,000 sq. ft. of unused development rights into one of the tallest skyscrapers in Manhattan, located four blocks from Central Park.
340 UNITS
BUILT 1987
72 STORIES
KEY DETAILS
Total Cost: $225 Million
Total Gross Sq Ft: 850,000
USES:
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494, 500 sq. ft of luxury condominiums
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310,000 sq. ft. of Class A office space
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10,500 sq. ft. of retail
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35,000 sq. ft. of parking on 2 levels below grade
AMENITIES:
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Health club, fitness center and pool, parking
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Design: A glass tower with triple setbacks and panoramic views of the city skyline
PROJECT
CHALLENGES
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The proposed 72-story building drew strong opposition from preservation groups concerned that the development would be architecturally inconsistent with the neighboring 6-story theater, an important NYC landmark located on a Manhattan mid-block site.
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Existing zoning restricted the height of a new building to 400 feet, severely impacting the economic feasibility of the proposed project.
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Development required the approval of the Landmarks Preservation Commission.
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Property owner operated a garage within the building and would only sell if the new building included a parking facility, which he could operate and was at least as large as the existing one.
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The significant amount of existing street level noise was a marketing issue for the proposed residential component of the development.
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The tempered glass, required by the zoning code for office buildings, was only available in green, gray and black, which distorted the views. Because of the office component, the tempered glass also had to be used for the residential component, which severely limited the spectacular views of the condominiums.
OUR SOLUTION
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Through the government approval process, zoning variances were granted, resulting in approvals for a 72-story mixed-use high-rise, the tallest residential building in NYC at that time.
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Created incentive package for City Center to support the proposed development that allowed them to expand their existing stage into the new development (existing stage was too narrow). The expanded stage was designated as a separate condominium, wholly-owned by City Center.
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Procured additional air rights by making a contribution of $3 M to New York City Opera and $3 M to NYC Ballet which produced an additional 26 stories (297,300 square feet) and by providing and overseeing $5.5 M of historic renovation to the City Center Theater which produced another 12 stories, ultimately doubling the original building envelope.
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Located office space and residential amenities on floors 1 through 25. Located the residential section on floors 26 through 72, maximizing the value of unobstructed views and minimizing noise issues at the street level.
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Developed the first mixed-use building in NYC with clear glass by commissioning a glass manufacturer to create clear, tempered glass that allowed occupants to enjoy the great views.
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Created incentive package for the garage owner which included the construction of a larger garage for his company to manage in the new building.
