One Carnegie Hill - 215 East 96th Street - Rental - Condo - by HLW International

[krulltime]

RELATED'S CARNEGIE HILL TOWER
A RELIGIOUS EXPERIENCE


By STEVE CUOZZO

August 10, 2004 -- RELATED Cos. has broken ground for One Carnegie Hill, its new apartment building on East 96th Street between Second and Third avenues — and it's more interesting ground than most.

To build its 42-story tower, Related bought a 99-year ground lease from the Islamic Cultural Center of New York, a trust that owns the copper-domed mosque on the corner and the adjacent land.

It's been reported that One Carnegie Hill — designed by HLW International, with interiors by Ismael Leyva and lobby and amenity floors by David Rockwell — will have 475 luxury apartments, with the bottom half of the tower for rental units and the upper half, starting at the 23rd floor, devoted to for-sale units.

But Related had not until now revealed the ground-lease purchase, which closed late last year. We asked Related President David Wine: Were there any unusual aspects to negotiating with ICCNY?

After all, not long after 9/11, the mosque's former imam, Sheik Muhammad Al-Gamei'a, reportedly said on Egyptian radio that "the Jews" had been responsible for the World Trade Center attack — among other anti-Semitic and anti-American statements (his successor and other mosque officials said at the time they disavowed Al-Gameia's remarks).
"It was a negotiation conducted on a business level, not on a political level," Wine said. "The ICCNY was very concerned about making it a great building."

A number of major developers competed for the site, Wine said, and ICCNY officials "were concerned that whatever plans were announced for the site would actually be built and of high quality, since it's right next door."

Wine said there was a "vigorous negotiation over the lease terms. We felt it was very important that we negotiated as advantageous a lease as possible for ourselves and prospective [apartment] purchasers, and we were pleased with the outcome."

Related, famous as the developer of Time Warner Center, has about 8,500 apartments in the city, including condos and rentals.
Unlike most projects that combine rental and sale units, One Carnegie Hill will have a single lobby. Amenities include a health club, pool and children's playroom. The sale units, starting on the 23rd floor, will have oversized windows.

There was no way to value the ground lease. Studley sales wizard Woody Heller, who was not involved in the transaction, said that, had it been a straight sale, a value higher than $200 per buildable square foot was possible in today's booming market. (One Carnegie Hill has 582,000 gross square feet).

As part of the deal with the ICCNY, Related will incorporate a 63,000 square-foot "community facility" — a school operated by the ICCNY — into the project, with its own entrance on East 97th Street.

Wine said the Islamic school would be "invisible" to apartment residents


Copyright 2004 NYP Holdings, Inc.

[NewYorkYankee]

This one should continue the skyline and add a nice peice to it if done nice.

[Johnnyboy]

any renderings or height?

Great. I see a growing New York. Theres been many construction projects lately reveald in New York. This city needs them. Its been somewhat quiet though the past few years exept for a few spots.

[krulltime]

http://www.onecarnegiehill.com/

From their website:

The Related Companies, L.P. introduces One Carnegie Hill. Located at 215 East 96th Street, it is the Upper East Side's most contemporary new 42 story luxury landmark. A new concept in residential living from the preeminent developer of the spectacular Time Warner Center, One Carnegie Hill features rental and for sale residences with apartment interiors, amenity areas and a contemporary and elegant lobby designed by renowned architect and interior designer David Rockwell.

[Gulcrapek]

Nasty. I'd guess the budget was on the low side though.

[krulltime]

Yeah nothing especial about it... But I sure like that new architecture in new buildings in which there is this glass walls on some parts of the building. So if it was all brick it will be boring but at least is not.

[NoyokA]

Yeah, its going to look like crum though when its built.

[BrooklynRider]

Big Bulky Ugly.

[Derek2k3]

So bad they couldn't even make the rendering look good. To think people sell and accept this as luxury.

[billyblancoNYC]

Originally Posted by Derek2k3

So bad they couldn't even make the rendering look good. To think people sell and accept this as luxury.

Agreed, but they are selling like hotcakes right now. Even as a leasehold development.

[pianoman11686]

Construction update

Picture taken 7/17/05:

[sfenn1117]

Kinda bleh. I think it'll look ok, and it's good to see this kinda action on 96th, close to where some of the projects start. I'll take it.......I guess.

[Fabrizio]

Hideous. This neighborhood is being quickly destroyed by this disruptive kind of junk. Again, wanna bet the PR department will pitch the building´s proximity to intimate low rise buildings and brownstones as a plus. So basically the building is destroying one of the main reasons why people like the neighborhood in the first place. And big deal, the apartments will have a few thousand dollars worth of European kitchen appliances, some thin sheets of marble (or whatever) in the lobby, and all the rest.... but architecturally (despite some tacked on looking glass walls) it still looks like the dreary 1970´s high rises over on Amsterdam.

[czsz]

Egad, look at the base. What disrespectful trash this is.

[pianoman11686]

In case anyone's interested, the building in front of One Carnegie Hill in the construction update I posted is The Monterey. It's another Related rental. The address is 175 East 96th Street.