Could reality be setting in at 15 CPW?

still pricey at 3,600psf...they won't get get what they paid which was 2400psf

Indeed. It will be interesting to see how low the trophy buildings go.

15 CPW is a nice building, but it's still overpriced. In terms of architecture and interior, it's not that amazing. the park hyatt and elysian condos in Chicago are on the same level as 15 CPW but are more reasonably priced.

Idiot, hotel-condos are cheaper because they have no real value. And, of course, being in a city like Chicago where no one wants to live doesn't help.

And "same level"? Uh, yeah. They look like projects to me.

nyc10022, go look at pictures of park hyatt or the elysian, and get back to me on that. god, you're an idiot.

Whose an idiot, rufus? If my mother had wheels she'd be a trolley car. That is about as relevant to every discussion you chime in on as what you have to say. What on earth does a discussion of 15 CPW have to hotel buildings in a city 1000 miles away? Who cares what a condo/hotel is doing in Chicago, or Detroit, or Devner, or El Pasa if you live in NYC and your life is HERE? Isn't there a Chicago RE forum you can contribute to? What do you think you are contributing here? To the extent you seek to somehow spread good news about Chicago via NYC Streeteasy, does it strike you that 100% of the responses you garner here are hostile and that you are apparently poisoning people's views of Chic. more than doing anything else?

Rufus, your tin ear to the responses you get here, the odd way you participate here, only play to stereotypes of mid-westerners as NY wannabe's. Are you a NY wannabe? What is your deal? Why are you even on here?

He's here because he was forced to relocate due to job issues, and this is his therapy for coming to terms with the fact that he has to leave NYC. I'd genuinely feel bad for his situation... if he wasn't such a prick about it.

cognitive dissonance fo' shizzle rizzle! Sorry about the situation, Rufus - give us your address, and we'll happily buy your ticket back to Chicago.

> nyc10022, go look at pictures of park hyatt or the elysian, and get back to me on that. god, you're
> an idiot.

Rufus can't even afford the bus from Indiana to Chicago... he has to look at pictures of these buildings.

Yeah, putz, your opinion matters...

You can't even afford Chicago, that makes you REALLY poor.

nyc10022, do you struggle with reading comprehension? i'm telling YOU to go look at pictures since you've never been to Chicago. i walked past the elysian in my last visit to Chicago; it's still under construction but close to being done. And there's no doubt that it's a superior building to 15 CPW.

ah good ole Rufus. A condo tower off of CP designed by Robert A.M. Stern, dean of the Yale School of Architecture....

or a condotel designed by Lucien Lagrange in Chitroit.

Yea sounds like a real good comparison.

Please ignore rufus. What I wanted to talk about on this thread was where people think a Robert A.M Stern building is going. Where could the price be in a year? $1500 a sqft?

I have to say, I think 15 CPW is a hype. Robert A.M. Stern may be the Dean of the Yale School of Architecture, but I have yet to see him design even one interesting building. 15 CPW is extremely boring--in fact, its only interest is its ugliness, which is intense. The apartments are not particularly great either. They pale in comparison to the great prewar CPW buildings, and they compare very poorly to the glass towers at 1 CPW (yes, a Trump building) and especially the Time Warner Center, where the high floor apartments are truly spectacular.

1500psf would be a pretty incredible fall from grace, and I am not holding my breath for that. But 2000 would not not surprised me at all.

Nothing would surprise after this year. Lehman and Bear dying? Citi to $3 (intraday)???
Make a prediction, and then be prepared to see it happen. I don't think the world is going to zero, but I've seen some amazing fat tail trades come true that I would never have expected. Anyone who says they know anything is kidding themselves. $1500 is a possibility.

Agreed - 15 CPW and it's windows remind me of an office building in Boston (not meant to be a slight to Boston, but they had a slew of stodgy corporate building erected in the 80s/90s). The city is littered with plenty of unimpressive Stern buildings, like the Westminster in Chelsea. 15 CPW benefited from a good address and a lot of dumb finance money.

buster2056, i agree. architecturally, 15 CPW isn't that impressive. it's still better than most NYC residential buildings, but that's not saying much since the quality in the city is already so low.

most of stern's projects, along with costas kondylis, are pretty mediocre. NYC is way behind Chicago when it comes to architecture.

You know, if all you Roofie haters just click "ignore this person" below his name you will not see his idiot comments. I have and it is bliss. I highly encourage it.

When the hell did Chicago become the city to compare ourselves to? What a joke of an assumption

Or is it all just this one 'Rufus' guy chiming in about Chi-no-go every thread?

No one is comparing nyc to chicago... I'm generally not a fan of new construction, but I am pretty impressed by 56 Leonard - kicks the crap of anything in the midwest.

fakeesate, that was the best tip all week!! I am successfully ignoring Rufus!

"I don't think the world is going to zero, but I've seen some amazing fat tail trades come true that I would never have expected"

Who would have thought that oil would go from $150 to $30 in 8 months? Nobody. Who would have thought that Citi would go from $55 to $2 in under 2 year? Not a soul. Fact is, when bubbles pop you will see price drops previously thought unimaginable. So...was Manhattan RE a bubble for the past 8 years? If so, don't be surprised how low prices go.

BTW, Chicago is a great city - very livable, lots of character, good people. No need to hate on it.

"BTW, Chicago is a great city - very livable, lots of character, good people. No need to hate on it."

I went to school there - great town to live in. The only reason I moved back to NYC was Chicago's winters suck.

2C is actually in contract. It will be interesting to see what it closes for.

what ever happened to Malreaux? Didn't he own an apartment there?

Maybe he's working at the bank that's opening up in the lobby at 15 under west elm.