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425 Park Avenue
425 Park Avenue is an office building in New York City redeveloped by L&L Holding and GreenOak Real Estate, with a design by architectural firm Foster + Partners. Work on the new structure began in 2016, and the building was completed in October 2022. Architecture Original building The original building was designed by Kahn & Jacobs. Modernist in style, it replaced a row of sixteen four-story townhouses built by Robert Goelet in 1871. The construction of the building began in 1954, on land leased from the Robert Walton Goelet estate, who died in 1941. At the time of the construction, it was one of the tallest buildings that utilized bolted connections. The 32-story building was open in 1957 with National Biscuit Company, Kaye Scholer, Chemical Corn Exchange Bank as major tenants. Since 2004, L&L Holding, which was founded in 2000, had been trying to redevelop 425 Park Avenue when the Goelet family intended to sell a 33% stake of the property. After an extended negotiatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state of New York. Located near the southern tip of New York State, Manhattan is based in the Eastern Time Zone and constitutes both the geographical and demographic center of the Northeast megalopolis and the urban core of the New York metropolitan area, the largest metropolitan area in the world by urban landmass. Over 58 million people live within 250 miles of Manhattan, which serves as New York City’s economic and administrative center, cultural identifier, and the city’s historical birthplace. Manhattan has been described as the cultural, financial, media, and entertainment capital of the world, is considered a safe haven for global real estate investors, and hosts the United Nations headquarters. New York City is the headquarters of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Of Lehman Brothers
The bankruptcy of Lehman Brothers on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than in assets. The bankruptcy triggered a 4.5% one-day drop in the Dow Jones Industrial Average, then the largest decline since the September 11, 2001, attacks. It signaled a limit to the government's ability to manage the crisis and prompted a general financial panic. Money market mutual funds, a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and the Federal Reserve system responded with several emergency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shoring
Shoring is the process of temporarily supporting a building, vessel, structure, or trench with shores (props) when in danger of collapse or during repairs or alterations. ''Shoring'' comes from ''shore'', a timber or metal prop. Shoring may be vertical, angled, or horizontal. Methods Buildings Raking shores In this method, inclined members called rakers are used to give temporary lateral support to an unsafe wall. One or more timbers slope between the face of the structure to be supported and the ground. The most effective support is given if the raker meets the wall at an angle of 60 to 70 degrees. A wall-plate is typically used to increase the area of support. Foundations Shoring is commonly used when installing the foundation of a building. A shoring system such as piles and lagging or shotcrete will support the surrounding loads until the underground levels of the building are constructed. Commonly used shoring equipment includes post shores, shoring beams, and timber jacks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wind Bracing
In architecture, wind braces are diagonal braces to tie the rafters of a roof together and prevent racking. In medieval roofs they are arched, and run from the principal rafters to catch the purlin A purlin (or historically purline, purloyne, purling, perling) is a longitudinal, horizontal, structural member in a roof. In traditional timber framing there are three basic types of purlin: purlin plate, principal purlin, and common purlin. Pu ...s. References Architectural elements {{architecturalelement-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
425 Park Ave Construction At The Base
4 (four) is a number, numeral (linguistics), numeral and numerical digit, digit. It is the natural number following 3 and preceding 5. It is the smallest semiprime and composite number, and is tetraphobia, considered unlucky in many East Asian cultures. In mathematics Four is the smallest composite number, its proper divisors being and . Four is the sum and product of two with itself: 2 + 2 = 4 = 2 x 2, the only number b such that a + a = b = a x a, which also makes four the smallest squared prime number p^. In Knuth's up-arrow notation, , and so forth, for any number of up arrows. By consequence, four is the only square one more than a prime number, specifically 3, three. The sum of the first four prime numbers 2, two + 3, three + 5, five + 7, seven is the only sum of four consecutive prime numbers that yields an Parity (mathematics), odd prime number, 17 (number), seventeen, which is the fourth super-prime. Four lies between the first proper pair of twin primes, 3, three and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grand Central Terminal
Grand Central Terminal (GCT; also referred to as Grand Central Station or simply as Grand Central) is a commuter rail terminal located at 42nd Street and Park Avenue in Midtown Manhattan, New York City. Grand Central is the southern terminus of the Metro-North Railroad's Harlem, Hudson and New Haven Lines, serving the northern parts of the New York metropolitan area. It also contains a connection to the New York City Subway at Grand Central–42nd Street station. The terminal is the second-busiest train station in North America, after New York Penn Station. The distinctive architecture and interior design of Grand Central Terminal's station house have earned it several landmark designations, including as a National Historic Landmark. Its Beaux-Arts design incorporates numerous works of art. Grand Central Terminal is one of the world's ten most-visited tourist attractions, with 21.6 million visitors in 2018, excluding train and subway passengers. The terminal's Main Conco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Rights
Air rights are the property interest in the "space" above the earth's surface. Generally speaking, owning, or renting, land or a building includes the right to use and build in the space above the land without interference by others. This legal concept is encoded in the Latin phrase ''Cuius est solum, eius est usque ad coelum et ad inferos'' ("''Whoever owns the soil, it is theirs up to Heaven and down to Hell''."), which appears in medieval Roman law and is credited to 13th-century glossator Accursius; it was notably popularized in common law in '' Commentaries on the Laws of England'' (1766) by William Blackstone; see origins of phrase for details. Air travel Property rights defined by points on the ground once extended indefinitely upward. This notion remained unchallenged before air travel became popular in the early 20th century. To promote air transport, legislators established a public easement for transit at high altitudes, regardless of real estate ownership. New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grandfather Clause
A grandfather clause, also known as grandfather policy, grandfathering, or grandfathered in, is a provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases. Those exempt from the new rule are said to have grandfather rights or acquired rights, or to have been grandfathered in. Frequently, the exemption is limited, as it may extend for a set time, or it may be lost under certain circumstances; for example, a grandfathered power plant might be exempt from new, more restrictive pollution laws, but the exception may be revoked and the new rules would apply if the plant were expanded. Often, such a provision is used as a compromise or out of practicality, to allow new rules to be enacted without upsetting a well-established logistical or political situation. This extends the idea of a rule not being retroactively applied. Origin Southern United States The term originated in late nineteenth-century legislation and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Floor Area Ratio
Floor area ratio (FAR) is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. It is often used as one of the regulations in city planning along with the building-to-land ratio. The terms can also refer to limits imposed on such a ratio through zoning. Written as a formula, FAR = . Lower maximum-allowed floor area ratios are linked to lower land values and lower housing density. Terminology Floor Area ratio is sometimes called floor space ratio (FSR), floor space index (FSI), site ratio or plot ratio. The difference between FAR and FSI is that the first is a ratio, while the latter is an index. Index numbers are values expressed as a percentage of a single base figure. Thus an FAR of 1.5 is translated as an FSI of 150%. Regional variation The terms most commonly used for this measurement vary from one country or region to the next. In Australia ''floor space ratio'' (FSR) is used in New South Wales and ''plot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1961 Zoning Resolution
The 1916 Zoning Resolution in New York City was the first citywide zoning code in the United States. The zoning resolution reflected both borough and local interests, and was proposed after the Equitable Building was erected in Lower Manhattan in 1915. The resolution was a measure adopted primarily to stop massive buildings from preventing light and air from reaching the streets below, and established limits in building massing at certain heights, usually interpreted as a series of setbacks and, while not imposing height limits, restricted towers to 25% of the lot size. The chief authors of this resolution were George McAneny and Edward M. Bassett. Impact The 1916 Zoning Resolution had a major impact on urban development in both the United States and internationally. Architectural delineator Hugh Ferriss popularized these new regulations in 1922 through a series of massing studies, clearly depicting the possible forms and how to maximize building volumes. "By the end of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Business District
A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city centre" or "downtown". However, these concepts are not necessarily synonymous: many cities have a central ''business'' district located away from its commercial and or cultural centre and or downtown/city centre, and there may be multiple CBDs within a single urban area. The CBD will often be characterised by a high degree of accessibility as well as a large variety and concentration of specialised goods and services compared to other parts of the city. For instance, Midtown Manhattan, New York City, is the largest central business district in the city and in the United States. London's city centre is usually regarded as encompassing the historic City of London and the medieval City of Westminster, while the City of London and the transform ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Midtown Manhattan
Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the Chrysler Building, the Hudson Yards Redevelopment Project, the headquarters of the United Nations, Grand Central Terminal, and Rockefeller Center, as well as tourist destinations such as Broadway, Times Square, and Koreatown. Penn Station in Midtown Manhattan is the busiest transportation hub in the Western Hemisphere. Midtown Manhattan is the largest central business district in the world and ranks among the most expensive locations for real estate; Fifth Avenue in Midtown Manhattan commands the world's highest retail rents, with average annual rents at US in 2017. However, due to the high price of retail spaces in Midtown, there are also many vacant storefronts in the neighborhood. Midtown is the country's largest commercial, ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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