GUDC N Y C

46 - 08 5 Street

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Inclusionary Housing Program •

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Public plaza building bonus •

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PHASE 1 PHASE 2

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After further structural and architectural investigation, we might produce a timeline similar this one for the construction of Fordham’s campus in Lincoln Center

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KINGSBRIDGE ARMORY, West 195th Street

-from an warehouse to shopping mall -area: 575 000 sqf -investment: $310 mio

Cost: $530 per sqf

City lowered the purchase price of the property from $20 mio to $5 mio

NYC PUBLIC LIBRARY, 42nd Street

-renovation of an existing program -area: 541 200 sqf -investment: $300 mio

Cost: $554 per sqf

City donated $150 mio

RECENT RESIDENTIAL DEVELOPMENT, Chelsea Area

-new residential development -area: 299,200 sqf -investment: $169,4 mio

Cost: $566 per sqf

AVERAGE DEVELOPMENT PRICES www.rsmeans.com

-new office development -average price

Cost: $228,24 per sqf

Cost IC : $17,7 mio

The IRT Powerhouse Building 163 204 sq.ft.

$ - negotiable

1 West End Avenue Plot 126 000 sq.ft.

$10,8 mio

West 59th Street Plot 52 260 sq.ft.

$6,9 mio

West Avenue Office Building 400 000 sq.ft.

$92 mio Stanford Building 440 000 sq.ft

$162,9 mio

West 60th Str Office Building 250 000 sq.ft.

$57,5 mio West 59th Str Residence 300 000 sq.ft.

$168 mio Joe DiMagio Hwy Residence 200 000 sq.ft.

$112 mio The IRT Powerhouse 250 000 sq.ft.

$137,5 mio

TOTAL IC (Investment Cost) $751,3 mio

Underground Parking 92 000 sq.ft.

$21,2 mio

Stanford Building 440 000 sq.ft Student and Professor Housing Faculty Office, Administration Office, Studio, Laboratories, Design groups, Roof Top Park

$162,9 mio

TOTAL IC $192,4mio

Underground Parking 34 500 sq.ft.

$7,9 mio

Plot purchase 178 260 sq.ft.

$21,6 mio

The worst scenario

Predicted scenarios in year 2023 The best scenario

Predicted risks

-Constant mortgage rate -Local approval

-Agreement with the NYC about the Powerhouse renovation

-Equivalent sponsor funding to Stanford CA -Popularity among students

-High mortgage rate -Local disapproval

-No agreement with the NYC about the Powerhouse renovation

-Lack of sponsor funding -Unpopularity among students

Going to Phase II. – expansion to the Powerhouse

Selling the building and the plot

Occupying only one building partially, renting the unused spce , no expansion to the Powerhouse

Expanding within the existing building, renting less space, the Powerhouse remains empty

Medium

Bussines as ussual

TOTAL IC $150,7 mio

The IRT Powerhouse 250 000 sq.ft. Sport Facility, Library, Galleries, Restaurants, Bars, Show Rooms, Classrooms, Lecture Halls, Dinning Facility, Fitness, Technical Museum.

$137,5 mio

Underground Parking 57 500 sq.ft.

$13,2 mio

The worst scenario

Predicted scenarios in year 2028 The best scenario

Possible risks

-Constant mortgage rate -Local approval

-Equivalent sponsor funding to Stanford LA -Popularity among students

-Predicted costs for Powerhouse renewal

-High mortgage rate -Local disapproval

-Lack of sponsor funding -Unpopularity among students

-Powerhouse renewal expenses to high to bare

Searching partners for further development of the area

Redrawall from the lease or selling the Powerhouse, possible closure of Stanford NYC

Reducing the program within the Powerhouse, renting the space for retail and searching partners

for further development of the area Medium

Bussines as ussual

TOTAL IC $92 mio

West Avenue Office Building 400 000 sq.ft. Office

$92 mio

TOTAL IC $220,5 mio

West 60th Str Office Building 250 000 sq.ft. Office

$57,5 mio West 59th Str Residence 300 000 sq.ft. Residential

$168 mio

Joe DiMagio Hwy Residence 200 000 sq.ft. Residential

$112 mio

TOTAL IC $112 mio

West Avenue Office Building 400 000 sq.ft.

$92 mio Stanford Building 440 000 sq.ft

$162,9 mio

West 60th Str Office Building 250 000 sq.ft.

$57,5 mio West 59th Str Residence 300 000 sq.ft.

$168 mio Joe DiMagio Hwy Residence 200 000 sq.ft.

$112 mio The IRT Powerhouse 250 000 sq.ft.

$137,5 mio

Stanford investment $330,7 mio Partnership investment $438,3 mio

TOTAL IC $769,0 mio

Underground Parking 92 000 sq.ft.

$21,2 mio Plot Value 341 464 sq.ft.

$17,7 mio

To present the Stanford NYC campus as a project that will leave a positive print in the

city’s history as well as in people’s lives.

Leave a print!

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GUDC N Y C