Bloomberg News

One57 Developer Says Construction ‘Back to Normal’ Soon

October 30, 2012

The developer of One57, the Manhattan building where a construction crane partially collapsed yesterday, expects to resume work on the tower in a few days.

Sandy, the Atlantic superstorm that flooded parts of New York City, will “delay things for a few days, and then hopefully the situation will be back to normal,” Gary Barnett, president of Extell Development Co., said in a telephone interview.

Buildings near the site at 157 W. 57th St. were evacuated and nearby streets were closed. The crane can’t be fully secured until winds die down, New York Mayor Michael Bloomberg said at a news conference today.

“The procedure will be to get the boom and strap it to the building,” Bloomberg said, according to the New York Times. “Then we can reopen the streets.” He is the founder and majority owner of Bloomberg LP, the parent of Bloomberg News.

Barnett declined to say how the crane, which is dangling from near the top of the 90-floor tower, will be repaired. That’s being handled by city officials, he said.

One57, set to be the tallest residential building in New York, is scheduled to open for occupants in the middle of next year. An 11,000-square-foot (1,000-square-meter) unit, spanning the 89th and 90th floors, sold for about $90 million in May, setting a record for a single residence in Manhattan.

Barnett said the storm shouldn’t change anyone’s plans for development in Manhattan.

“We don’t usually have hurricanes in New York City,” he said. “The city has to have new buildings built.”

To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net.

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net.


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus