No plans for Solow's East Side site
December 23, 2008 08:40AM
Sheldon Solow
Last week, Citibank filed an $86 million lawsuit against Sheldon Solow for failing to pay back loans and letters of credit issued in 2004 to finance a development project along First Avenue, between 38th and 41st streets, where construction has not started. Solow has not filed any building plans with the city for the former Con Ed site, where he spent $100 million to demolish old power plants. In March, the City Council approved a version of Solow's plan, which calls for 3,000 new apartments, a 1 million-square-foot office tower and 69,000 square feet of retail space.
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Comments
Anonymous
The Con Ed building was actually pretty cool - big industrial, victorian. would have made a great conversion like in other cities where they adapt them into exciting new projects i. e. "The Power Station". but in New york - sadly that is not the case. Sell to to declining old man who immediately tears it down with no plans to replace it. genious.
Comment #1 Posted By: Anonymous 12/23/08
Anonymous
DOUCHEBAG, when you have the money, you could go throw it away and convert your big industrial victorian, what waste f valuable land
Comment #2 Posted By: Anonymous 12/23/08
Anonymous
Solow is the most litigous greed monger ever. He's tied up our courts with his filth for years. Don't praise this guy, he does it all the wrong way. When he gets upstairs to the big house...he's going to get a massive spiritual spanking. He will deserve it.
Comment #3 Posted By: Anonymous 12/23/08
Anonymous
So why would Con Ed get in bed with this guy? Don't always take the high bidder!
Comment #4 Posted By: Anonymous 12/23/08
Anonymous
hey Douchebag - the building was owned by Con Edison. They have a duty to due whats best for the City (their customers) and in my opinion that meant restoring and reinventing the original building. NOT giving us giant empty lots for years to come. I like Cities , I don't like vacant lots. I think the buildings should have been landmarked.
Comment #5 Posted By: Anonymous 12/23/08
Anonymous
It might not have been that easy to convert it and was probably more cost effective to just demolish it
Comment #6 Posted By: Anonymous 12/23/08
Anonymous
of course it is easier and cheaper to demolish it. that does not make it right. If Con Ed was not so greedy, they could have asked for a lower price contigent on renovated the existing building - which by the way , would also be the green thing to do. Plus it would be done by now instead of vacant lots and lawsuits for years.
Comment #7 Posted By: Anonymous 12/23/08
Anonymous
I am usually a heartless capitalist, but its true Solow is an evil litigeous ass, and Con Ed is mismanaged, and they could have renovated those buildings, ie Tate in London, and we are stick with Holes and lawsuits. The real problem was that the city played a game. Buy these sites Developers, and we may give you a huge up zoning. So we got, a big price that Con Ed couldn't say no to, a project mired for 3 years in Zoning Hell, that when finally approved missed the market. Same story in Atlantic Yards. Same story with Hudson yards.
Comment #8 Posted By: Anonymous 12/24/08
Anonymous
#8 - I couldnt agree with you more. Thank you
Comment #9 Posted By: Anonymous 12/24/08
Anonymous
The Tate Modern in London is Britain's national museum of international modern art and is, with Tate Britain, Tate Liverpool, Tate St Ives, and Tate Online,[2] part of the group now known simply as Tate. The galleries are housed in the former Bankside Power Station, which was originally designed by Sir Giles Gilbert Scott, the architect of Battersea Power Station, and built in two stages between 1947 and 1963. The power station closed in 1981. The building was converted by architects Herzog & de Meuron and contractors Carillion,[3] after which it stood at 99m tall. The history of the site as well as information about the conversion was the basis for a 2008 documentary Architects Herzog and de Meuron: Alchemy of Building & Tate Modern. The southern third of the building was retained by the French power company EDF Energy as an electrical substation (in 2006, the company released half of this holding).[4] Since the museum's opening on 12 May 2000, it has become a destination for Londoners and tourists. Entry is free for the permanent collection and some temporary exhibitions.
Comment #10 Posted By: Anonymous 12/24/08
Anonymous
Too much info number 10. Thanks, but get a life.
Comment #11 Posted By: Anonymous 12/24/08
Anonymous
Solow makes Madoff look like a Saint!
Comment #12 Posted By: Anonymous 12/26/08
Anonymous
The "Power Plant" was essentially a shell on the outside covering the interior which was filled with a maze of mechanical systems and steam pipes. That's why it cost $100M to demolish! Conversion wouldn't make economical sense to any developer.
Comment #13 Posted By: Anonymous 12/27/08
Anonymous
just build something
Comment #14 Posted By: Anonymous 12/27/08
Anonymous
I predict a ribbon cutting in 15 years.
Comment #15 Posted By: Anonymous 12/27/08
Anonymous
Let the city buy the site cheap, under the present circumstances, and use it create a park or low buildings of public interest. Sure at this time, even the city is in a strech. But such an pportunity will never come again of having some space and greenery in that nebourhood
Comment #16 Posted By: Anonymous 03/05/09