5 Times Square
5 Times Square | |
---|---|
![]() | |
![]() | |
General information | |
Type | Office |
Location | Times Square, Manhattan, New York |
Coordinates | 40°45′21″N 73°59′16″W / 40.755886°N 73.987647°W |
Construction started | 1999 |
Completed | 2002 |
Opening | May 2002 |
Owner | New York City Economic Development Corporation |
Management | David Werner/RXR Realty |
Height | |
Roof | 575 ft (175 m) |
Top floor | 540 ft (160 m) |
Technical details | |
Floor count | 38 |
Floor area | 1.1×10 6 sq ft (100,000 m2) |
Lifts/elevators | 20 |
Design and construction | |
Architect(s) | Kohn Pedersen Fox |
Developer | Boston Properties |
Structural engineer | Thornton Tomasetti |
Main contractor | Turner Construction |
References | |
[1][2] |
5 Times Square is a 38-story office skyscraper at the southern end of Times Square in the Midtown Manhattan neighborhood of New York City. Located on the western sidewalk of Seventh Avenue between 41st and 42nd Street, the building measures 575 feet (175 m) tall. The building was designed by Kohn Pedersen Fox Associates (KPF) and developed by Boston Properties for Ernst & Young (EY). The site is owned by the New York City Economic Development Corporation, though David Werner and RXR Realty have a long-term leasehold on the building.
KPF planned the facade as a glass curtain wall, with large billboards on lower stories as part of the 42nd Street Development Project. The foundation consists of shallow footings under most of the site, though parts of the plot abut New York City Subway tunnels and are supported by caissons. The steel superstructure includes a wind-resisting lattice steel beams, as well as a mechanical core. The building contains 1.1 million square feet (100,000 m2) of floor space, much of which is devoted to offices. The lowest three stories contain retail space and an entrance to the Times Square subway station.
During the 1980s and early 1990s, Park Tower Realty and the Prudential Insurance Company of America had planned to develop a tower for the site as part of a wide-ranging redevelopment of West 42nd Street. After the successful development of the nearby 3 and 4 Times Square, Boston Properties developed both 5 Times Square and Times Square Tower. Work started in 1999 after EY was signed as the anchor tenant, leasing the entire building for 20 years. The building opened in 2002. Boston Properties sold the long-term leasehold for 5 Times Square in 2006 to AVR Realty, which resold it in 2014 to a group led by David Werner. RXR Realty purchased a 50 percent ownership stake in the leasehold in 2016 and began to renovate it in 2020. The owners began considering converting the building to residential use in 2024.
Site
[edit]5 Times Square is on the west side of Seventh Avenue, between 41st Street and 42nd Street, at the southern end of Times Square in the Midtown Manhattan neighborhood of New York City.[3][4] The land lot is L-shaped and covers 27,156 sq ft (2,522.9 m2),[3] with a frontage of 197.5 feet (60.2 m) on Seventh Avenue, 150 feet (46 m) on 42nd Street, and 125 feet (38 m) on 41st Street.[5] 5 Times Square is at the eastern end of a city block that also contains the New Amsterdam Theatre, Candler Building, and Madame Tussauds New York. Other nearby buildings include the Times Square and Lyric theaters to the northwest, the New Victory Theater and 3 Times Square to the north, One Times Square and 4 Times Square to the northeast, and the Times Square Tower to the east.[3][4]
An entrance to the New York City Subway's Times Square–42nd Street station, served by the 1, 2, 3, 7, <7>, N, Q, R, W, and S trains,[6] is within the base of the building on 42nd Street. Another entrance to the same station is on 41st Street.[6][7] 3, 4, and 5 Times Square and the Times Square Tower comprise a grouping of office buildings that were developed at Times Square's southern end in the late 1990s and early 2000s.[8][9][10] The surrounding area is part of Manhattan's Theater District and contains many Broadway theatres.[4] The site of 5 Times Square was occupied by a 12-story hotel that opened in the late 1890s, while the New Amsterdam Theatre was built on the adjacent lot around the same time.[11]
Architecture
[edit]5 Times Square was designed by Kohn Pedersen Fox Associates (KPF).[1][2][12] It was developed by Boston Properties as the New York City offices of Ernst & Young (EY).[4] Quartararo & Associates was the construction manager.[13] AMEC was the main contractor, Thornton Tomasetti was the structural engineer, and Jaros, Baum & Bolles was the mechanical, electrical, and plumbing engineer.[2][14] Additionally, Mueser Rutledge Consulting Engineers was the geotechnical engineer and Vollmer Associates was the site civil engineer.[15] Officially, the New York City Economic Development Corporation owns the structure.[3] 5 Times Square has 38 stories above ground[3][7][12][a] and two basements.[1][2][12] It measures 575 feet (175 m) to its architectural tip.[1][2][b] There are also two basement stories measuring up to 30 feet (9.1 m) deep.[11]
Form and facade
[edit]The building is part of the 42nd Street Development Project and, thus, could bypass many city zoning rules such as those relating to floor area ratio (FAR).[17] The tower follows the 42nd Street Development's zoning rules, which do not require setbacks or sky exposure planes at higher stories, which allow a much higher FAR for usable space.[18] Consequently, Times Square Tower occupies its entire site,[12] with a FAR of 36.[19] According to Karrie Jacobs of New York magazine, the building has a varied massing and facades that were appropriate for Times Square's "glitzy character".[20] 5 Times Square rises largely as a slab, with setback sections to the north and east, angling away from the building's northeast corner.[21][22] Douglas Hocking said that KPF had taken inspiration from Fox & Fowle's designs for 3 and 4 Times Square, as well as Philip Johnson's unbuilt proposals for 3, 4, 5, and 7 Times Square during the 1980s and 1990s.[21] The 42nd Street Development Project also mandated a minimum floor area and a minimum number of stories. Since mechanical, electrical, and plumbing systems did not count toward these minimums, they were placed on the roof.[16]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Times_Sq_Sep_2021_140.jpg/220px-Times_Sq_Sep_2021_140.jpg)
5 Times Square contains several electronic billboards on its facade, which obscure much of the second through fourth floors.[7][18] These billboards are included as part of the 42nd Street Development Project and were intended to evoke Times Square's historical signage.[18] Specifically, the building was required to contain at least 18,000 square feet (1,700 m2) of advertising signage.[20] At the northeast corner, the signs rise to the seventh story.[7] Hocking said his team used computer models to compare different types of signage.[21] However, the developers' signs had to be separate from those required by the 42nd Street Development Project.[21][22] As a result, a 22-story-tall vertical sign with the Ernst & Young name was mounted on the northeast corner of the building.[22]
The main office entrance is in the middle of the Seventh Avenue elevation.[7] The corner of Seventh Avenue and 41st Street has an entrance to a three-story Red Lobster restaurant, with a curved revolving neon lobster measuring 10 feet (3.0 m) long.[23][24] Above the entrance is a curved sign measuring 60 feet (18 m) long.[23] The curtain wall is made of reflective-glass window panes.[25] The spandrels between stories are a mixture of reflective-glass and silver horizontal panels,[7][22] which are arranged so they appear to form a diagonal "slice".[22] The slice, as well as the massing variations, are intended to depict the diagonal route that Broadway, one block east, follows in relation to the Manhattan street grid.[7][25] The north and south elevations, as well as the cornice atop the building, contain lighting.[7] The design of the exterior was scrutinized by several governmental agencies, advocacy groups, and potential tenants.[21]
Structural features
[edit]Substructure
[edit]Underneath the site is durable Hartland bedrock, which is covered in some places by soil or weathered rock.[11] Before the tower was constructed, the contractors made four borings. They found that the Hartland bedrock had been covered by 5 to 12 feet (1.5 to 3.7 m) of manmade fill and that there was groundwater about 30 feet (9.1 m) below street level. The southern lot line is adjacent to the IRT Flushing Line subway tunnel (used by the 7 and <7> trains) under 41st Street, which runs about 26 feet (7.9 m) beneath the lowest basement level and 55 feet (17 m) below the street level.[26] The eastern lot line abuts the IRT Broadway–Seventh Avenue Line (1, 2, and 3 trains), which is about 28 feet (8.5 m) under Seventh Avenue. The basement of the New Amsterdam Theatre protrudes under the southern half of the lot and is 20 feet (6.1 m) deep.[11]
The groundwater was drained using sump pumps and most of the building was constructed on shallow foundations.[26] Because the Flushing Line subway tunnel was within 2 feet (0.61 m) of 5 Times Square's lot line, engineering consultant recommended that rock-socketed caissons be built to a point below the tunnel invert, using sensors to detect ground movement.[26] Various methods of reinforcement were used for the lot perimeter.[27] Near the Flushing Line tunnel, the south wall is supported by mini-caissons that are about 12 inches (300 mm) in diameter. The caissons each contain three metal cores and descend to about 8 feet (2.4 m) below the tunnel invert. The New York City Department of Buildings granted the builders a waiver to use higher-strength material for the caissons. The southern lot line also has thirty rock anchors to resist wind uplift; each anchor has a working load of 890 kilonewtons (200,000 lbf). The rest of the foundation is composed of concrete spread footings. The footing subgrade has a bearing capacity of 575 megapascals (83,400 psi).[28]
Superstructure
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Times_Sq_Sep_2021_138.jpg/220px-Times_Sq_Sep_2021_138.jpg)
The building's steel weighs 26 pounds per square foot (1.2 kPa) on average.[14] The building contains a moment-resisting frame structural system on its perimeter, with closely-spaced columns and horizontal spandrel beams. The frame needed to be able to withstand a wind of up to 110 miles per hour (180 km/h) for three seconds from any direction. The engineers projected the greatest wind loads would come from the north and south elevations, so the columns on these sides are spaced 10 feet (3.0 m) apart. On the west and east elevations, the columns at the extreme north and south ends are spaced 10 feet apart, while those at the center are spaced 30 feet (9.1 m) apart. This creates two C-shaped clusters of columns on the north and south ends of the building, which thus act as two channels and not as a single tube. The columns at the north and south ends were manufactured as two-story segments. Each column has 5-foot-long (1.5 m) beams extending to the left and right, which, when installed, formed horizontal spandrel beams.[29]
Because of the small floor area, the structural engineers minimized the size of the mechanical core to increase the usable space. The core measures 38 by 110 feet (12 by 34 m). The structural engineers could not stabilize the superstructure with outrigger walls, connecting the core and the exterior, because of the lack of mechanical spaces on intermediate stories. The engineers determined that it would not be efficient to build outrigger walls at the base and top. Since the core is not braced, it carries only gravity loads.[16] The floor slabs consist of composite metal decks measuring 3 inches (76 mm) deep. The slabs consist of composite steel beams between the core and exterior, measuring 35 to 50 feet (11 to 15 m) long. The steel beams can support a live load of 50 pounds per square foot (2.4 kPa), though some framing connections can support greater loads.[18]
Interior
[edit]The building has about 1.1 million square feet (100,000 m2) of interior space.[12][30] A retail space at 5 Times Square's lowest stories wraps around the corner of Seventh Avenue and 42nd Street.[25] The lower-story retail space includes the Red Lobster restaurant, which has a pair of fish tanks with a capacity of 420 U.S. gallons (1,600 L) each.[23][24] The restaurant was designed with a 79-seat bar and lounge on the ground floor and a 280-seat main dining room on the third floor.[24] The 42nd Street side had a storefront for cosmetics retailer Sephora, which was a narrow and tall space with an upscale boutique area on one wall.[31]
The building is alternately cited as having 20[1] or 21 elevators.[2] Floor plans indicate that, at the ground floor lobby on Seventh Avenue, the elevators are grouped into two banks: a northern bank with ten elevators and a southern bank with eight elevators.[32] The two banks of elevators are separated by two sets of stairs, one facing west and the other facing east. A freight elevator is accessed from a service entrance on 41st Street. The "low-rise" offices are served by eight elevators in the northern bank, while the "mid-rise" and "high-rise" office stories are served by the southern bank.[32] Gensler originally designed EY's offices in an open plan. EY partners had offices of about 150 square feet (14 m2) on the perimeter of each story, with glass walls to allow sunlight to illuminate the open-plan workspace. The corner spaces were used as conference rooms rather than as private offices. Senior partners had slightly more luxurious offices on the 37th floor, but even the company chairman occupied a relatively small office of 350 square feet (33 m2).[33]
History
[edit]Development
[edit]Early plans
[edit]The Empire State Development Corporation (ESDC), an agency of the New York state government, had proposed redeveloping the area around a portion of West 42nd Street in 1981.[34] Four towers designed by Philip Johnson and John Burgee were to be built around 42nd Street's intersections with Broadway and Seventh Avenue.[35][36][c] These towers would have been redeveloped by George Klein of Park Tower Realty, though the Prudential Insurance Company of America joined the project in 1986.[37][38][39] Furthermore, as part of the West Midtown special zoning district created in 1982, the New York City government had allowed new buildings in Times Square to be developed with an increased floor area ratio. To ensure the area would not be darkened at nightfall, the city passed zoning regulations that encouraged developers to add large, bright signs on their buildings.[35][40]
Opposition from the Durst Organization, along with Prudential and Park Tower's inability to secure tenants for the proposed buildings,[41] led government officials to allow Prudential and Park Tower to postpone the project in 1992.[36][42] By then, Prudential had spent $300 million on condemning the sites through eminent domain.[43] The partners retained the right to develop the sites in the future,[44] and the ESDC's zoning guidelines remained in effect.[35] In exchange for being permitted to delay construction of the sites until 2002, Prudential and Park Tower were compelled to add stores and install large signage on the existing buildings.[45] The southwest corner of 42nd Street and Seventh Avenue was leased in July 1995 by The Walt Disney Company;[46][47] the site was occupied by a 18,000-square-foot (1,700 m2) Disney Store,[48] which opened in late 1996.[49]
Klein ceded decision-making power for the sites to Prudential, which decided to exit the real-estate market altogether, selling off all four sites.[50] Prudential and Klein dissolved their partnership in 1996.[51][52] The same year, Douglas Durst acquired the site at the northeast corner of Broadway and 42nd Street,[53] and he developed 4 Times Square there.[54] Prudential and Park Tower decided to market the three other sites after the successful development of 4 Times Square.[55][56] In March 1997, Prudential indicated its intent to sell the sites' development rights or lease the sites to developers.[57][58] The northwest corner of Seventh Avenue and 42nd Street was taken by Reuters, which enlisted Rudin Management as its development partner and built 3 Times Square on that corner.[59][60]
Boston Properties plans
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/1/11/Times_Sq_Sep_2021_144.jpg/220px-Times_Sq_Sep_2021_144.jpg)
By the end of 1997, several developers including Durst, Burton Resnick, Steven Roth, and Jerry Speyer were reportedly bidding for the Disney site at the southwest corner of 42nd Street and Seventh Avenue.[61][62] Klein had partnered with The Blackstone Group in his bid.[62] Prudential opened bidding for the two remaining sites in March 1998, offering over $200 million in tax breaks for both sites.[63] The same month, Philip Johnson and Alan Ritchie proposed a pair of buildings: a 40-story structure on the southwest corner and a 49-story structure on the southeast corner.[64] This plan included a facade system designed by Fernando Vasquez and Sussman/Prejza, which consisted of rectangular panels clipped onto the spandrels, allowing advertisements to be shown directly on the facade.[64][65][66] Herbert Muschamp of The New York Times regarded the scheme as having "earned a place in the history of ideas", despite being similar to a previous plan for the site.[65][66]
A joint venture of Klein, Blackstone, and Boston Properties ultimately won the right to acquire both sites for $330 million.[52][67][68] Boston Properties, operated by Mortimer Zuckerman, would take majority ownership,[52] while Klein's Park Tower would have a small stake.[67] Zuckerman and Klein had been encouraged to bid for the site in part because the ESDC had offered to allow a combined 71,442 square feet (6,637.2 m2) across both sites.[51] Real estate experts had considered the southwest-corner site, that now occupied by 5 Times Square, to be the more valuable of the two sites due to the other lot's relatively small area.[61] Kohn Pedersen Fox was selected as the architect for the southwestern-corner site in May 1998.[22] Boston Properties did not immediately take possession of either site but, in January 1999, agreed to buy the sites within the following two years for $312.25 million.[69][70] Disney and HBO were both reportedly considering offices on either site,[52][71] but HBO reneged in early 1999.[72] Disney planned to reopen its store at the base of 5 Times Square when the new building was completed.[68][71]
Ernst & Young expressed interest in moving from 787 Seventh Avenue to Boston Properties' southwest-corner lot, but the firm asked the city government for $65 million in subsidies in May 1999.[73] To encourage the firm to stay in New York City rather than relocate to New Jersey, the administration of mayor Rudy Giuliani agreed to give Ernst & Young $20 million[74][75] or $22 million in tax abatement.[76] The deal included a $10 million sales tax exemption on materials and equipment, as well as $2 million for training and $5.5 million for electricity.[75] In August 1999, Boston Properties announced it would develop 5 Times Square, a 37-story headquarters for Ernst & Young on the southwest-corner lot.[74][76] Ernst & Young would pay $1 billion to lease the building for 20 years.[74][77]
Construction
[edit]The foundation was constructed from November 1999 to August 2000,[28] requiring the demolition of the Disney store.[78] 5 Times Square and its three neighboring developments would collectively add almost 4 million square feet (370,000 m2) of office space.[79] All four projects were being marketed with a Times Square address, which until the early 1990s had not been popular in the city's real estate market.[80] At the time, rents for commercial space around Times Square were increasing drastically.[81] 5 Times Square was expected to cost $536 million in total.[82] The steel superstructure was being erected by early 2001, with a hundred ironworkers employed on the project.[83] Many of the project's ironworkers were Mohawk Native Americans, a group that had historically helped construct some of the city's other office buildings.[84]
By September 2001, Ernst & Young was planning to sublease some of its space at the building.[85] Despite the September 11 attacks in Lower Manhattan shortly afterward, retail chain Champs Sports took some storefront space by the end of 2001.[86] When Giuliani's mayoral term expired at the end of that year, he created the consulting firm Giuliani Partners, which was to take space at 5 Times Square when the building was completed.[87] Meanwhile, accounting firm Arthur Andersen's lease at the neighboring Times Square Tower had been terminated in mid-2002 amid the Enron scandal.[88] Following this, EY hired 332 former Andersen employees to join the new 5 Times Square office.[89][90]
Usage
[edit]2000s and 2010s
[edit]The building was completed in May 2002,[15][91] and EY began moving 3,300 employees to 5 Times Square.[92] By that September, 4,000 employees had moved in, occupying all the office floors.[30] Upon the building's opening, there was 200,000 square feet (19,000 m2) of vacant space, though this was not publicly advertised.[93] The Department of Finance valued 5 Times Square in 2003 at $355 million, a 65 percent increase from the previous year's valuation of $215 million.[94] A three-story Red Lobster restaurant opened at the base in July 2003.[23][24] The base also contained the Times Square Brewery, which had been displaced from the site of Times Square Tower, as well as a Champs Sports store.[95] A freight elevator in the building crashed in 2004, killing one person.[96]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Times_Sq_Sep_2021_132.jpg/220px-Times_Sq_Sep_2021_132.jpg)
Boston Properties attempted to sell 5 Times Square in early 2006 to Istithmar World.[97][98] However, Istithmar declined to buy the building because of tax concerns, specifically the fact that EY would be the auditor for the sale.[99] After putting the building back for sale in October 2006,[100] Boston Properties sold it the following month to AVR Realty for $1.28 billion in cash,[101][102][103] or about $1,125 per square foot ($12,110/m2).[104] The sale, a record for the time, was part of a trend of real estate investment trusts purchasing Midtown property in the mid-2000s.[105] That year, NBC Universal erected a screen and two billboards above the building's Champs Sports store, totaling 3,500 square feet (330 m2).[106] Cosmetics store Sephora opened a store at the building's base in July 2009.[31] AVR hired CBRE Group to market the building in 2011 in advance of a possible sale.[107][108]
A group led by David Werner purchased 5 Times Square in 2014 for $1.5 billion, the largest office transaction in the city in four years.[109][110] Werner's group acquired a mezzanine loan of $150 million from RXR Realty. In early 2016, RXR purchased a 50 percent stake for $800 million.[111] At the time, the $1 billion loan that had been used to finance Werner's purchase of the building was expected to come due in March 2017.[112] EY was also looking to vacate up to 170,000 square feet (16,000 m2) at 5 Times Square, though it had five years remaining on its lease.[113] At the expiry of the original loan, RXR and Werner secured a $1.4 billion refinancing with Morgan Stanley. This included restructuring an existing $782 million loan and a new mezzanine loan of $618 million.[114][115] EY indicated in late 2017 that it would move to 1 Manhattan West when its 5 Times Square lease expired.[116][117] and Champs Sports also relocated in 2018.[118] Sephora planned to relocate as well.[119]
2020s to present
[edit]During the COVID-19 pandemic in New York City in August 2020, SL Green Realty indicated it would sell a $126 million mezzanine loan on the property to raise money. RXR and Werner had used $200 million of their own equity to renovate the building.[120] RXR spent $50 million to renovate the interiors just before the expiry of EY's lease in 2022.[121] The work included refurbishing the lobby, replacing the exterior signs, and adding an elevator within the subway entrance,[122] as well as adding an amenity area with a bar, gym, and restaurant.[123] In January 2022, Roku, Inc. leased 240,000 square feet (22,000 m2) on the building's top eight floors, as well as the rights to control the vertical sign on Seventh Avenue.[124][125] Shortly afterward, RXR sought to refinance the building for $1.5 billion.[126] In September 2022, RXR refinanced the building with a $1.3 billion loan from multiple firms including Morgan Stanley and Apollo Capital.[127][128] SL Green also became a partner in the renovation, changing its mezzanine loan into an equity loan.[122] Only 31% of the building's space was occupied at the time.[122][129] By 2023, Miniso had opened a variety store within the building.[130]
RXR and Werner began considering converting 5 Times Square into a residential building in mid-2024. By then, the developers were no longer leasing out the building's space to commercial tenants.[129][131]
References
[edit]Notes
[edit]- ^ The New York City Department of City Planning cites the building as being 38 stories.[3] Emporis and The Skyscraper Center both cite the building as being 40 stories.[1][2]
- ^ A structural engineer for the building cites the height at 571 feet (174 m).[16]
- ^ The sites were:[36]
- Northwest corner of 42nd Street and Seventh Avenue: now 3 Times Square
- Northeast corner of 42nd Street and Broadway: now 4 Times Square
- Southwest corner of 42nd Street and Seventh Avenue: now 5 Times Square
- South side of 42nd Street between Seventh Avenue and Broadway: now 7 Times Square (Times Square Tower)
Citations
[edit]- ^ a b c d e f "5 Times Square". Emporis. Archived from the original on August 26, 2021. Retrieved January 1, 2021.
- ^ a b c d e f g "5 Times Square – The Skyscraper Center". The Skyscraper Center. April 7, 2016. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b c d e f "592 7 Avenue, 10036". New York City Department of City Planning. Archived from the original on September 27, 2021. Retrieved March 25, 2021.
- ^ a b c d White, Norval; Willensky, Elliot; Leadon, Fran (2010). AIA Guide to New York City (5th ed.). New York: Oxford University Press. p. 296. ISBN 978-0-19538-386-7.
- ^ "Site Map" (PDF). New 42nd Street. Archived from the original (PDF) on July 7, 2011. Retrieved September 30, 2022.
- ^ a b "MTA Neighborhood Maps: Times Sq-42 St (S)". mta.info. Metropolitan Transportation Authority. 2018. Archived from the original on August 29, 2021. Retrieved September 13, 2018.
- ^ a b c d e f g h Luna 2002, p. 366.
- ^ Stern, Fishman & Tilove 2006, p. 714.
- ^ Holusha, John (November 3, 2004). "Sleaze-Free Times Square as a New Financial Center". The New York Times. ISSN 0362-4331. Archived from the original on September 13, 2021. Retrieved September 27, 2021.
- ^ Feiden, Douglas (November 17, 2014). "Vacancy Is Opportunity at 4 Times Square". Wall Street Journal. ISSN 0099-9660. Archived from the original on December 1, 2014. Retrieved September 20, 2021.
- ^ a b c d Canale, Kaufman & Tamaro 2004, p. 40.
- ^ a b c d e Brazil & Gottlieb 2004, p. 39.
- ^ Hoffman, Jan (October 29, 1999). "PUBLIC LIVES; Clean Record in Construction Finally Pays". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b Brazil & Gottlieb 2004, p. 79.
- ^ a b Canale, Kaufman & Tamaro 2004, p. 45.
- ^ a b c Brazil & Gottlieb 2004, p. 48.
- ^ Stern, Fishman & Tilove 2006, p. 717.
- ^ a b c d Brazil & Gottlieb 2004, p. 46.
- ^ Dunlap, David W. (January 13, 2005). "The Sky Is No Longer the Limit on Far West Side Buildings". The New York Times. ISSN 0362-4331. Archived from the original on June 9, 2021. Retrieved September 30, 2021.
- ^ a b Jacobs, Karrie (June 28, 1999). "Fat City". New York Magazine. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b c d e Merkel, Jayne (July–August 2000). "Times Square on the Record" (PDF). Oculus. Vol. 61. Archived (PDF) from the original on September 26, 2021. Retrieved September 30, 2021.
- ^ a b c d e f Stern, Fishman & Tilove 2006, p. 720.
- ^ a b c d Wax, Alan J. (July 23, 2003). "Red Lobster Lands in Times Square". Newsday. p. 45. ISSN 2574-5298. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ a b c d "Red Lobster opens in Times Square". Seafood Business. Vol. 22, no. 8. August 2003. p. 4.
- ^ a b c "5 Times Square – Ernst & Young National Headquarters". Wired New York. December 8, 2020. Archived from the original on October 28, 2011. Retrieved September 28, 2021.
- ^ a b c Canale, Kaufman & Tamaro 2004, p. 41.
- ^ Canale, Kaufman & Tamaro 2004, pp. 41–42.
- ^ a b Canale, Kaufman & Tamaro 2004, p. 42.
- ^ Brazil & Gottlieb 2004, p. 49.
- ^ a b "At the Top NYC 40". Newsday. September 23, 2002. p. 48. ISSN 2574-5298. Archived from the original on September 29, 2021. Retrieved September 29, 2021 – via newspapers.com.
- ^ a b Naughton, Julie (July 31, 2009). "Sephora's New Store Format in Times Square – WWD". Women's Wear Daily. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b Luna 2002, p. 368.
- ^ Pristin, Terry (May 26, 2004). "Commercial Real Estate; A New Office Can Mean Making Do With Less". The New York Times. ISSN 0362-4331. Archived from the original on May 28, 2015. Retrieved September 30, 2021.
- ^ Lueck, Thomas J. (February 14, 1988). "The Region: Redevelopment; Times Square Plan Takes A Shaky Step Forward". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ a b c Stephens, Suzanne (March 2000). "Four Times Square" (PDF). Architectural Record. Vol. 188. p. 92. Archived (PDF) from the original on September 29, 2021. Retrieved September 30, 2021.
- ^ a b c Dunlap, David W. (August 3, 1992). "Long Delay Likely in Rebuilding Plan for Times Square". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Stern, Fishman & Tilove 2006, pp. 690–691.
- ^ "Metro Datelines; Times Sq. Gets New Partner". The New York Times. October 8, 1986. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Polsky, Carol (October 8, 1986). "Prudential Company Joins Times Square". Newsday. p. 20. ISSN 2574-5298. Archived from the original on September 17, 2021. Retrieved September 17, 2021 – via newspapers.com.
- ^ Stern, Fishman & Tilove 2006, p. 645.
- ^ Dunlap, David W. (November 9, 1991). "Times Square Redevelopers Seek Delay in Project". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Henry, David (August 4, 1992). "Remodeling Times Square, Part IV". Newsday. p. 27. ISSN 2574-5298. Archived from the original on September 17, 2021. Retrieved September 17, 2021 – via newspapers.com.
- ^ Pulley, Brett (November 21, 1995). "Key Developer Seeks a Role In Times Sq". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Dunlap, David W. (September 16, 1993). "Choreographing Times Sq. Into 21st Century". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Bagli, Charles V.; Kennedy, Randy (April 5, 1998). "Disney Wished Upon Times Sq. And Rescued a Stalled Dream". The New York Times. ISSN 0362-4331. Archived from the original on September 25, 2021. Retrieved September 25, 2021.
- ^ Pulley, Brett (July 21, 1995). "Companies Reach Deal for Renewal In Heart of 42d St". The New York Times. ISSN 0362-4331. Retrieved April 13, 2023.
- ^ "Disney Store Signs Lease For Space On Times Square". Women's Wear Daily. Vol. 180, no. 13. July 21, 1995. p. 11. ProQuest 1445667552.
- ^ Deutsch, Claudia H. (October 22, 1995). "Commercial Property: 42d Street;Around Times Square, New Faces at Street Level". The New York Times. ISSN 0362-4331. Archived from the original on September 25, 2021. Retrieved September 25, 2021.
- ^ Henican, Ellis (November 17, 1996). "Mickey Is Hot Item On 42nd". Newsday. pp. 6, 41. ISSN 2574-5298. Archived from the original on September 27, 2021. Retrieved September 27, 2021 – via newspapers.com.
- ^ Pacelle, Mitchell (October 1, 1997). "George Klein Out in the Cold: Once Dreamed of Rebuilding Times Square, Now Glory Goes to Others". Wall Street Journal. p. B16. ISSN 0099-9660. ProQuest 1646401632.
- ^ a b Stern, Fishman & Tilove 2006, p. 719.
- ^ a b c d Bagli, Charles V. (March 31, 1998). "2 Developers Bid Top Dollar For What's Left in Times Sq". The New York Times. ISSN 0362-4331. Archived from the original on September 27, 2021. Retrieved September 27, 2021.
- ^ Lueck, Thomas J. (April 12, 1996). "Developer Buys the Rights to Build a Times Square Tower". The New York Times. ISSN 0362-4331. Archived from the original on September 17, 2021. Retrieved September 17, 2021.
- ^ Lueck, Thomas J. (May 8, 1996). "Conde Nast Is to Move to a New Times Square Tower, Officials Say". The New York Times. ISSN 0362-4331. Archived from the original on September 18, 2021. Retrieved September 25, 2021.
- ^ Stern, Fishman & Tilove 2006, p. 718.
- ^ Holusha, John (March 23, 1997). "Behind the Buzz, Possibilities Waiting to Happen". The New York Times. ISSN 0362-4331. Archived from the original on September 25, 2021. Retrieved September 25, 2021.
- ^ Lueck, Thomas J. (March 18, 1997). "3 Prime Sites in Times Square Renewal Plan Go Up for Sale". The New York Times. ISSN 0362-4331. Archived from the original on September 25, 2021. Retrieved September 25, 2021.
- ^ Hartmann, T.M. (March 21, 1997). "For Sale: 3 Blocks On Times Square". Back Stage. Vol. 38, no. 12. pp. 3–4. ISSN 0005-3635. ProQuest 963064908.
- ^ Bagli, Charles V. (September 6, 1997). "Reuters to Build 32-Story Headquarters in Times Sq". The New York Times. ISSN 0362-4331. Archived from the original on September 25, 2021. Retrieved September 25, 2021.
- ^ Grant, Peter (September 8, 1997). "Reuters' new tower will get Rudin byline". New York Daily News. p. 27. ISSN 2692-1251. Archived from the original on September 25, 2021. Retrieved September 25, 2021 – via newspapers.com.
- ^ a b Grant, Peter (December 18, 1997). "Big names set to bid big bucks for plum location". New York Daily News. p. 217. ISSN 2692-1251. Archived from the original on September 26, 2021. Retrieved September 26, 2021 – via newspapers.com.
- ^ a b Bagli, Charles V. (January 1, 1998). "Two Times Square Sites Are Suddenly Much in Demand". The New York Times. ISSN 0362-4331. Archived from the original on September 26, 2021. Retrieved September 26, 2021.
- ^ Bagli, Charles V. (March 8, 1998). "Fierce Bidding Expected on 2 Sites in Times Square". The New York Times. ISSN 0362-4331. Archived from the original on September 27, 2021. Retrieved September 27, 2021.
- ^ a b Amelar, Sarah (April 1998). "Times Square Tidings" (PDF). Journal of the American Institute of Architects. Vol. 87. p. 27. Archived (PDF) from the original on September 28, 2021. Retrieved September 30, 2021.
- ^ a b Stern, Fishman & Tilove 2006, pp. 719–720.
- ^ a b Muschamp, Herbert (March 5, 1998). "Philip Johnson Geometry In an Advertising Wrapper". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b "Blackstone Partnership To Buy Times Square Sites". Wall Street Journal. April 1, 1998. p. C22. ISSN 0099-9660. ProQuest 398611537.
- ^ a b Standora, Leo (March 31, 1998). "Last 2 major Times Sq. sites go in 300M deal". New York Daily News. p. 6. ISSN 2692-1251. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ "Business Brief – Boston Properties Inc.: Agreement Set to Acquire Two Sites in Times Square". Wall Street Journal. January 22, 1999. p. B5. ISSN 0099-9660. ProQuest 398630270.
- ^ "Boston Properties Signs Binding Agreement to Acquire Two Development Sites In New York City's Times Square". PR Newswire. January 21, 1999. p. 1. ProQuest 447757447.
- ^ a b Croghan, Lore (April 20, 1998). "Big names ignite Rock West plans". Crain's New York Business. Vol. 14, no. 16. p. 1. ProQuest 219131200.
- ^ Hochstein, Marc (January 19, 1999). "Banks Flocking to Fast-Developing Times Square". The American Banker. No. 32. ProQuest 249801869.
- ^ Bagli, Charles V. (May 20, 1999). "Ernst Seeks Large Subsidy To Move to Times Sq. Tower". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b c Grant, Peter (August 20, 1999). "Booming Times Sq". New York Daily News. p. 228. ISSN 2692-1251. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ a b Bagli, Charles V. (July 23, 1999). "Ernst & Young Gets Breaks To Stay in New York City". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b "City's big-ticket incentive deals". Crain's New York Business. Vol. 15, no. 33. August 16, 1999. p. 43. ProQuest 219158183.
- ^ "Metro Business; Deal on Tower Lease Is Said to Be Near". The New York Times. January 27, 2000. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "Metro Business; Times Square Loses Its Mouse for Now". The New York Times. February 9, 2000. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Dent, David J. (May 16, 1999). "Times Square Exchanging Its Identity". Newsday. p. 284. ISSN 2574-5298. Archived from the original on September 26, 2021. Retrieved September 26, 2021 – via newspapers.com.
- ^ Reed, Danielle (March 16, 2000). "Hotter Than Hot: Times Sq. Address". New York Daily News. p. 165. ISSN 2692-1251. Archived from the original on September 27, 2021. Retrieved September 27, 2021 – via newspapers.com.
- ^ Bagli, Charles V. (February 8, 1999). "As Rents Soar, Boom Is Slowed in Times Square". The New York Times. ISSN 0362-4331. Archived from the original on September 4, 2021. Retrieved September 26, 2021.
- ^ Sandlund, Chris (October 15, 2001). "A wave of development rolls along 42nd Street". Crain's New York Business. Vol. 17, no. 42. p. 33. ProQuest 219156849.
- ^ Rasenberger, Jim (January 28, 2001). "Cowboys of the Sky". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Leduff, Charlie (March 16, 2001). "A Mohawk Trail To the Skyline; Indian Ironworkers Return, Lured by Building Boom". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Herman, Eric; Shin, Paul H.B. (September 6, 2001). "New tower on way up". New York Daily News. p. 60. ISSN 2692-1251. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ Bagli, Charles V. (December 15, 2001). "Toy Store Is Leading Retail Shuffle In Times Sq". The New York Times. ISSN 0362-4331. Archived from the original on September 27, 2021. Retrieved September 27, 2021.
- ^ "Giuliani to Take Office In Heart of Times Square". Newsday. January 3, 2002. p. 43. ISSN 2574-5298. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ Bagli, Charles V. (June 26, 2002). "Andersen and Developer Scuttle Times Square Deal". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Schoolman, Judith (May 29, 2002). "Andersen Exodus Grows". New York Daily News. p. 47. ISSN 2692-1251. Archived from the original on September 28, 2021. Retrieved September 28, 2021 – via newspapers.com.
- ^ Fredrickson, Tom (June 10, 2002). "Audit survivors". Crain's New York Business. Vol. 18, no. 23. p. 1. ProQuest 219202344.
- ^ "Leasing". Real Estate Forum. Vol. 58, no. 2. February 2003. p. 22. ProQuest 216569107.
- ^ Boss, Shira J. (June 24, 2002). "Moving industry packs punch". Crain's New York Business. Vol. 18, no. 25. p. 1. ProQuest 219202175.
- ^ Croghan, Lore (January 20, 2003). "Vacancy sign lights up in Times Square". Crain's New York Business. Vol. 19, no. 3. p. 3. ProQuest 219167109.
- ^ Herman, Eric (January 16, 2003). "6% Boost in Office Bldg. Value". New York Daily News. p. 28. ISSN 2692-1251. Archived from the original on September 5, 2021. Retrieved September 5, 2021 – via newspapers.com.
- ^ "N.Y. Retail Rent Hikes: Percentage increase in average asking rents* for Manhattan retail corridors". Women's Wear Daily. Vol. 188, no. 123. December 13, 2004. p. 10S. Archived from the original on October 1, 2021. Retrieved September 30, 2021.
- ^ Lueck, Thomas J. (August 13, 2004). "Worker Dies as Freight Elevator Malfunctions in Times Sq. Tower". The New York Times. ISSN 0362-4331. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "Sale of Manhattan Building to Dubai Firm Hits Snag". DealBook. April 20, 2006. Archived from the original on February 11, 2018. Retrieved September 30, 2021.
- ^ Jarvie, Barbara (June 6, 2006). "$1B-Plus 280 Park Ave. Deal Closes". GlobeSt. Archived from the original on October 1, 2021. Retrieved September 30, 2021.
- ^ Taub, Daniel (April 27, 2006). "Boston Properties Agrees To Sell 280 Park Ave. for $1.2 Billion". The New York Sun. Archived from the original on October 1, 2021. Retrieved September 30, 2021.
- ^ "On the Market: Commercial". The Real Deal New York. October 30, 2007. Archived from the original on April 18, 2020. Retrieved September 30, 2021.
- ^ Dealbook (November 20, 2006). "Boston Properties to Sell 5 Times Square for $1.28 Billion". DealBook. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "Working Out Office REIT Valuations". Barron's. November 30, 2006. Archived from the original on October 1, 2021. Retrieved September 28, 2021.
- ^ "Boston Properties Inc.: Times Square Building Leasehold Is Sold to AVR for $1.28 Billion". Wall Street Journal. November 21, 2006. p. C5. ISSN 0099-9660. ProQuest 398989703.
- ^ Chamberlain, Lisa (January 17, 2007). "Record Year Followed by Record Deal". The New York Times. ISSN 0362-4331. Archived from the original on April 29, 2017. Retrieved September 30, 2021.
- ^ Pristin, Terry (November 21, 2006). "Record Sale Price Provides an 'I Told You So' Moment for Owner of Equity Office REIT". The New York Times. ISSN 0362-4331. Archived from the original on October 1, 2021. Retrieved September 30, 2021.
- ^ Elliott, Stuart (September 4, 2006). "If Bigger Is Better, NBC Is Moving Up". The New York Times. ISSN 0362-4331. Archived from the original on October 1, 2021. Retrieved September 30, 2021.
- ^ Kusisto, Laura (July 18, 2011). "Tower Deal Could Test Prime Sites". Wall Street Journal. ISSN 0099-9660. Archived from the original on July 26, 2011. Retrieved September 28, 2021.
- ^ "AVR Realty Hires CBRE to Sell 5 Times Square". GlobeSt. July 18, 2011. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ LaMantia, Jonathan (June 19, 2014). "New York's 5 Times Square Sale Is Biggest Deal Since 2010". Bloomberg. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "Werner Group Completes $1.5Bln Purchase of 5 Times Square in Manhattan". Commercial Real Estate Direct. June 18, 2014. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Maurer, Mark (December 29, 2016). "The 10 biggest NYC investment sales of 2016". The Real Deal New York. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "The looming problem with the $90B wave of maturing CMBS". The Real Deal New York. January 24, 2017. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Geiger, Daniel (June 20, 2016). "EY looks to shrink city footprint and move to New Jersey: Accounting firm negotiating to relocate as much as 170,000 square feet from 5 Times Square to Hoboken". Crain's New York Business. Vol. 32, no. 25. p. 8. ProQuest 1799042265.
- ^ Parker, Will (March 20, 2017). "RXR, David Werner secure $1.4B refi for 5 Times Square". The Real Deal New York. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Balbi, Danielle (March 20, 2017). "RXR, Werner Score $1.4B Refi of 5 Times Square". Commercial Observer. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Lash, Herbert (November 2, 2017). "Ernst Young to move Manhattan HQ, highlighting corporate shift". U.S. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Brenzel, Kathryn (August 14, 2017). "EY moving forward with Hudson Yards move: report". The Real Deal New York. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ "Champs Sports Opens New Flagship Store In NYC's Times Square". SGB Media Online. March 19, 2018. Retrieved June 9, 2023.
- ^ Bockmann, Rich; Maurer, Mark (July 21, 2017). "Vornado dresses up Times Square space with new Sephora lease". The Real Deal New York. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Bockmann, Rich (August 4, 2020). "SL Green Selling 5 Times Square Loan". The Real Deal New York. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ Chaffin, Joshua (June 28, 2021). "Developers rethink the office after coronavirus". Financial Times. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
- ^ a b c Wong, Natalie (September 6, 2022). "NYC Tower Lands $1.3 Billion Loan From Morgan Stanley and Apollo". Bloomberg. Retrieved September 19, 2022.
- ^ Hong, Nicole; Moon, Jeenah (May 28, 2022). "Times Square at Its Overcrowded, Dizzying Worst Is Exactly What N.Y.C. Needs". The New York Times. ISSN 0362-4331. Retrieved June 9, 2023.
- ^ "RXR Realty's 5 Times Square Inks Roku for Massive Lease". The Real Deal New York. January 10, 2022. Retrieved March 28, 2022.
- ^ Baird-Remba, Rebecca (January 10, 2022). "Roku Takes 240K SF at 5 Times Square". Commercial Observer. Retrieved March 28, 2022.
- ^ Bockmann, Rich (January 13, 2022). "RXR Looks to Refinance 5 Times Square for $1.5B". The Real Deal New York. Retrieved March 28, 2022.
- ^ Coen, Andrew (September 6, 2022). "Morgan Stanley, Apollo, AIG Lead $1.3B refi for RXR's 5 Times Square". Commercial Observer. Retrieved October 2, 2022.
- ^ Hourie, Ilya (September 6, 2022). "RXR Lands $1.3B Loan for 5 Times Square; SL Green Partners". The Real Deal. Retrieved April 4, 2023.
- ^ a b "Rechler, Holliday think you'll want to live in Times Square". The Real Deal. August 14, 2024. Retrieved August 15, 2024.
- ^ Hallum, Mark (May 10, 2023). "Chinese Variety Store Miniso Opening Times Square Location". Commercial Observer. Retrieved July 14, 2023.
- ^ Pascus, Brian (August 14, 2024). "RXR Exploring Residential Conversion of 5 Times Square Office Building". Commercial Observer. Retrieved August 15, 2024.
Sources
[edit]- Brazil, Aine M.; Gottlieb, Eli (2004). "A Tale of Two Towers; The Structures". Civil Engineering Magazine. Vol. 74, no. 6. American Society of Civil Engineers. pp. 39, 46–49, 79. ISSN 2381-0688.
- Canale, Tony D.; Kaufman, James L.; Tamaro, George J. (2004). "A Tale of Two Towers; The Foundations". Civil Engineering Magazine. Vol. 74, no. 6. American Society of Civil Engineers. pp. 38, 40–45. ISSN 2381-0688.
- Luna, Ian (2002). Kohn Pedersen Fox : architecture and urbanism, 1993–2002. New York: Rizzoli. ISBN 978-0-8478-2508-0. OCLC 51687212.
- Stern, Robert A. M.; Fishman, David; Tilove, Jacob (2006). New York 2000: Architecture and Urbanism Between the Bicentennial and the Millennium. New York: Monacelli Press. ISBN 978-1-58093-177-9. OCLC 70267065. OL 22741487M.
External links
[edit]Media related to 5 Times Square at Wikimedia Commons
- Official website