ArchGuy1
Topic Author
Posts: 943
Joined: Wed Jul 10, 2019 11:35 pm

Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 5:11 am

Macy's is planning to build a 900 foot tall skyscraper on top of i t's Herald Square flagship store in New York City as the company faces financial troubles. The plan is to reclaim New York City as the company's official headquarters and add 1/5 million square feet of office space at it's flagship location. Plans for the skyscraper include a sky lobby, offices, and public improvements to the area that include upgraded subway stations. Hopefully, when the project is built, the historic integrity of Macy's Herald Square on both the exterior and interior will remain intact, including the wooden escalators inside.
https://www.timeout.com/newyork/news/a- ... are-021020
 
Pyrex
Posts: 4728
Joined: Thu Aug 25, 2005 7:24 am

Re: Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 1:07 pm

I imagine that whole block must be protected, no? How on Earth are they planning to get planning approval for that?

I have always thought that building to be very interesting, from a real estate perspective, particularly when Macy's was planning on spinning it off into a REIT - how do you value that? It is simultaneously, in theory, super valuable (massive footprint in the middle of Midtown Manhattan) and worthless (wouldn't be able to do anything with it if/when it's tenant defaults - way too large to get another retail tenant in, too historical to be able to repurpose the space).
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einsteinboricua
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Joined: Thu Apr 15, 2010 4:11 pm

Re: Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 1:39 pm

Rumor has it the top will have a platform...
"You haven't seen a tree until you've seen its shadow from the sky."
 
johns624
Posts: 2438
Joined: Mon Jul 07, 2008 11:09 pm

Re: Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 2:49 pm

einsteinboricua wrote:
Rumor has it the top will have a platform...
With Macy's financial problems, they'd probably charge too much for admission.
 
frmrCapCadet
Posts: 3549
Joined: Thu May 29, 2008 8:24 pm

Re: Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 3:21 pm

Another Sears Tower. We know how that went went
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ArchGuy1
Topic Author
Posts: 943
Joined: Wed Jul 10, 2019 11:35 pm

Re: Skyscraper Proposed For Macy's Herald Square

Fri Feb 14, 2020 5:36 pm

Pyrex wrote:
I imagine that whole block must be protected, no? How on Earth are they planning to get planning approval for that?

I have always thought that building to be very interesting, from a real estate perspective, particularly when Macy's was planning on spinning it off into a REIT - how do you value that? It is simultaneously, in theory, super valuable (massive footprint in the middle of Midtown Manhattan) and worthless (wouldn't be able to do anything with it if/when it's tenant defaults - way too large to get another retail tenant in, too historical to be able to repurpose the space).

The skyscraper would have to be approved by the City of New York.
 
Max Q
Posts: 8004
Joined: Wed May 09, 2001 12:40 pm

Re: Skyscraper Proposed For Macy's Herald Square

Sun Feb 16, 2020 3:06 am

Isn’t it time to retire ‘skyscraper’ ?

Unless we’re talking about the Burj Dubai or similar isn’t ‘high rise’ more suitable?
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