Now that Brazil's Fasano family are developing a ritzy hotel-condo building baring their hospitality empire's touches on the formerly Extell-owned lot at 16 West 57th Street, it seems like a good time to rehash old plans for the site that show its possibilities. New York YIMBY dug up developer B+B Capital's plan for the lot circa 2007, pre-Extell ownership. Here's a little extra back history on the site from B+B Capital,
The 16-18 property, which was acquired [by B+B] in August 2007, includes 25,000 square feet of space, with air rights allowing an additional 60,000 square feet of buildable area. B+B Capital added value to the property (from the buyout of the tenants), planned its development, and then sold the rights [to Extell]. Extell recently sold the lot to an aggregate of developers including the Fasanos and construction company JHSF Participacoes S.A. for $95 million, following a legal embroilment at the site with fellow mega-developer Sheldon Solow. The lot now can accommodate a building of about 100,000-square-feet, which sounds paltry in size compared to its neighbors at 157 West 57th Street and 432 Park Avenue, but as the rendering shows, is not all that small.
· What Could Have Been: 16 West 57th Street [New York YIMBY]
· 57th Street Is About To Get Yet Another Hotel-Condo Tower [Curbed]