Extell Gives Arts Students League Deadline on $38.1 Million Cantilever Deal
Last year, Extell had won City approval to build a cantilever on its super-thin, 1,424-foot skyscraper at 217 West 57th Street. The Arts Students League had supported the project and would receive $38.1 million for letting Extell build a cantilever over its building.
The League will be voting on the decision tonight, and if they cannot reach a decision Extell will create a new plan on the site that does not include a cantilever.
“If the ASL rejects the agreement, the $31 million is gone forever, for no good reason,” an Extell spokesperson told New York Observer. “Extell is prepared to build without a cantilever.”
Extell pitched the Smith + Gordon Gill design last fall saying the cantilever provided the column-free space needed by Nordstrom in the first five floors of the building.
The Arts Students League building has a landmark status and thus the project had to gain approval from the Landmarks Preservation Commission as well. League members had expressed support at t time but now opposing groups are voicing concerns about the design as well.
ASL Unite held a meeting Tuesday night to try to delay the vote, with concerns that the League would have to vacate their top floors during construction. The league has about 1,800 voting members.
However, the board conducted an independent appraisal last month and had no worries about the project.
Extell began excavating the site last month.