Son of Oro Drops Condo-Hotel Plans and 100,000 S.F.?
It appears that the second Oro tower (construction site at right) has dropped plans to use part of its building as a condo-hotel and more than 100,000 square feet from the total size of the building, according to recent Department of Buildings filings. Earlier this year, plans were rejected for a 38-story, 344,992-square-foot tower with…
It appears that the second Oro tower (construction site at right) has dropped plans to use part of its building as a condo-hotel and more than 100,000 square feet from the total size of the building, according to recent Department of Buildings filings. Earlier this year, plans were rejected for a 38-story, 344,992-square-foot tower with 74 residential units and a hotel, which sources said would be a condo-hotel. Owners of condo-hotel units generally get hotel-like amenities and supposedly generate income on their property while they were away. Unlike the controversial Trump SoHo condo-hotel, in a manufacturing district, owners in this area could live in their units year-round because the area is zoned for residential. But a Department of Buildings spokeswoman said yesterday new plans are being considered that include a more modest 35 stories, 235,382 square feet, 208 residential units and no hotel, which was the original program filed. All of this might explain why there’s been little activity at the construction site since last summer. Meanwhile, it looks like the windows over at the first Oro (left) could use some touching up. UPDATE: Ken Fisher writes in in the comments section: “I’m the developer’s land use counsel. Neither he, the architect or I have any idea what this post is based on. A bunch of different designs have been filed with the DOB at various times, but there hasn’t been any recent change to drop 100,000 sq. ft. and it is still proceeding as a mixed use building, about 3/4 hotel and the rest residential.”
What’s Up with Oro Part Deux? [Brownstoner]
Owners of Condo-Hotel Units Unhappy [WSJ]
Is Oro sold out yet?
Think these guys are also building a few hundred units over there:
http://www.urbandp.com/
Sarah continues her hard earned reputation of dodgy reporting that she got over at the Eagle. I think I’m going with Mr. Fisher on this one:
http://www.wolfblock.com/wbroot/attorney.asp?id=541
Thanks Ken (assuming it really is you, signed in as “guest.”) Hard to imagine, say, Herman Badillo, responding to a thread on the ‘stoner blog. You earned your e-mail moniker, “cyberpol.”
dominos.
word up
I’m the developer’s land use counsel. Neither he, the architect or I have any idea what this post is based on. A bunch of different designs have been filed with the DOB at various times, but there hasn’t been any recent change to drop 100,000 sq. ft. and it is still proceeding as a mixed use building, about 3/4 hotel and the rest residential.
Ken Fisher
Hi Sarah, in your report, you state that the DOB represenative said that they were considering new plans which reduce the size and scale of the building, but not that the hotel-condo plans were being dropped. Did DOB indicated that the plans were dropped or did Maundrell say it? The ORO people (or at least their sales office) say that the condo-hotel is moving forward.
condo hotels have been exposed as the biggest money losing scams of the whole bubble. see wsj article about miscalculated cap rates, etc. this is saving a lot of people some serious pain.
i’m not surprised they are scaling back. will the design look the same as the first one?