80 South Street

{{short description|Canceled skyscraper in Manhattan, New York}}

{{Infobox building

|name = 80 South Street

|image = 80 South Street.jpg

|location = 80 South Street, New York City, New York, United States

|roof = {{convert|1438|ft|m|abbr=on}}

|floor_count = 113

|floor_area = {{convert|817,788|ft2|abbr=on}}

|building_type = Residential, office

|status = Proposed

|start_date =

|est_completion =

|architect = Santiago Calatrava

| owner = China Oceanwide Holdings Limited

| developer = China Oceanwide Center NY LLC

|coordinates={{coord|40|42|21|N|74|00|16|W|region:US_type:landmark_source:kolossus-frwiki|display=title,inline}}

}}

80 South Street was a proposed residential skyscraper in the Financial District of Manhattan, New York City, that had been planned in the early 21st century. The original proposal for the skyscraper, released in 2003, was designed by renowned Spanish architect Santiago Calatrava, and was canceled in 2008 as a result of a declining real-estate market. A new shorter design was planned to be finished in 2016, and China Oceanwide Holdings Limited acquired 80 South Street in March 2016. Following the collapse of Chinese real estate conglomerate Evergrande and the associated Chinese property sector crisis, in October 2021 China Oceanwide began marketing the property at an aggressive discount of more than $190 million below its original acquisition cost to raise funds for its parent entity.

Site

The site on which the building is planned to be constructed is occupied by a six-story red brick building. The existing building, including the side door entrance on Fletcher Street, was used as the set for API headquarters in the short-lived AMC series Rubicon, filmed in 2010.

Architecture

= Original design =

The design of the building consisted of 12 four-story cubes stacked on top of one another, cantilevered off a central concrete column standing above an 8-story base. The slender concrete core would contain elevators, fire stairs and risers for plumbing and power. The base was intended to hold a cultural space, such as a museum. The lowest two cubes would hold offices, while the upper 10 cubes were planned to serve as individual residences. Each private cube would consist of about {{convert|10336|sqft|m2|0}} of area, as well as an outdoor garden. The residences each had a cost starting at {{US$|29 million|link=yes}}, with the top cube costing {{US$|59 million}}, making them some of the most expensive condominiums in New York City. However, in 2014, Calatrava started a new design of 80 south street to propose for construction in New York City.

The building had a planned roof height of {{Convert|826|ft|m}}, and the central core was planned to extend as a spire to {{Convert|1123|ft|m}}. The tower was originally conceived as the 3rd-tallest building in New York City (after the Empire State Building and the Bank of America Tower).

= 2019 design =

Real estate blog New York YIMBY published a tentative design in April 2019. The design was based on plans by China Oceanwide Holdings Limited, which had already disengaged from the project and sold the building site. This plan would have had {{Convert|1,067,350|sqft||abbr=}} of space, half residential and half commercial. Uniform Land Use Review Procedure documents showed a possible height of {{Convert|1436|ft||abbr=}} with 113 stories.{{Cite web|last=Fedak|first=Nikolai|date=2019-04-10|title=Exclusive Reveal for Lower Manhattan's Tallest Proposed Supertall, at 80 South Street|url=https://newyorkyimby.com/2019/04/exclusive-reveal-for-lower-manhattans-tallest-proposed-supertall-at-80-south-street.html|access-date=2020-06-12|website=New York YIMBY|language=en-US}}{{cite web|date=2019-04-19|title=In the News: Giant (I mean giant) tower for South Street?|url=https://tribecacitizen.com/2019/04/19/in-the-news-giant-i-mean-giant-tower-for-south-street/|access-date=2020-06-12|website=Tribeca Citizen}}

History

The design for 80 South Street was first released to the public in 2003. Santiago Calatrava has stated that he took the idea for the building from a sculpture he created in 1985.{{cite web|last=Mazzara|first=Benjamin|date=2016-09-30|title=Inside The Supertalls: 80 South Street|url=https://www.bisnow.com/new-york/news/construction-development/inside-the-supertalls-80-south-street-65882|access-date=2020-06-12|website=Bisnow}}{{Cite magazine|last=Lange|first=Alexandra|date=October 18, 2016|title=The New York That Could Have Been|url=https://www.newyorker.com/culture/culture-desk/the-new-york-that-could-have-been|access-date=2020-06-12|magazine=The New Yorker|language=en-us}} 80 South Street received approval for construction from the City of New York in February 2005. The project was canceled in April 2008; the developer of the project listed the declining U.S. real estate market as a factor in its cancellation.{{cite news|last=Weiss|first=Lois|date=2008-04-16|title='Sky Cubes' Meltdown: Calatrava Downtown Residential Project Dead|url=http://www.nypost.com/seven/04162008/business/sky_cubes_meltdown_106788.htm|access-date=2008-04-18|work=New York Post}}{{cite web|last=Plitt|first=Amy|date=2020-03-06|title=80 South St|url=https://ny.curbed.com/building/610/80-south-street|access-date=2020-06-12|website=Curbed NY}}

A new design of the building without the spire, decreasing the tower to {{convert|826|ft}}, was planned to be finished in 2016. China Oceanwide Holdings Limited acquired 80 South Street in March 2016, with plans to create a 113-story tower.{{Cite web|last=Loria|first=Keith|title=NYC Seaport Redevelopment Commands $390M|url=https://www.cpexecutive.com/post/nyc-seaport-redevelopment-commands-390m/|access-date=2020-06-12|website=www.cpexecutive.com|date=21 March 2016 }} Demolition permits for 80 South Street and 163 Front Street were filed during early 2017.{{cite web|last=Rosenberg|first=Zoe|date=2017-05-10|title=Long-planned South Street Seaport supertall may be on its way|url=https://ny.curbed.com/2017/5/10/15599916/south-street-seaport-supertall-tower-nyc-demolition-permits|access-date=2020-06-12|website=Curbed NY}} By 2018, work had stalled due to China Oceanwide's financial difficulties.{{Cite web|last=Hill|first=Frank|date=2018-11-26|title=1,436-Foot Tall 80 South Street Becomes Largest Likely Casualty Of Chinese-Owned Development Bust|url=https://newyorkyimby.com/2018/11/1436-foot-tall-80-south-street-becomes-largest-likely-casualty-of-chinese-owned-development-bust.html|access-date=2020-06-12|website=New York YIMBY|language=en-US}} The site was then listed for sale in early 2019;{{cite news|last1=Cunningham|first1=Cathy|last2=Elkies Schram|first2=Lauren|date=February 11, 2019|title=China Oceanwide Holdings Quietly Marketing 80 South Street for $300M|work=Commercial Observer|url=https://commercialobserver.com/2019/02/china-oceanwide-holdings-for-sale-80-south-street/|access-date=June 23, 2019}} that June, China Oceanwide received a $175 million loan for the site.{{Cite web|last=Bockmann|first=Rich|date=2019-06-07|title=China Oceanwide Lands $175M Loan For Seaport Site|url=https://therealdeal.com/2019/06/07/china-oceanwide-takes-out-175m-loan-against-supertall-seaport-site/|access-date=2020-06-12|website=The Real Deal New York|language=en-US}}

In 2022, China Oceanwide Holdings defaulted on the $175 million loan, and the project has continued to be stalled as well as several other skyscrapers proposed around the country, such as the Oceanwide Plaza in Los Angeles, effectively canceling the project for the foreseeable future.{{Cite web |last=Caillavet |first=Christopher |date=2022-01-13 |title=China Oceanwide Defaults on 80 South Street in New York |url=https://www.mingtiandi.com/real-estate/outbound-investment/oceanwide-defaults-on-80-south-street-in-new-york/ |access-date=2024-03-07 |website=Mingtiandi |language=en-US}}

See also

References

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