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The Torch NYC | Hotel & Intamin Drop Tower | 2027

TPoseOnTantrum

Giga Poster
Not every day that we cover Skyscrapers in the theme park world but here's one :)

A new 1,067-ft tall building is currently under construction at 740 Eighth Avenue in Manhattan, near Times Square. It managed to receive the necessary approvals last year and successfully fought back a resistance group. The developer, Extell Development, has already had a hand in setting up tower projects in the vicinity. This one however raised a lot of eyebrows over vague plans to pack in a fully enclosed drop tower, to be included within the red central column;
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Things kind of came to a head last week when artwork and details were published on the building, dubbed The Torch in reference to the Statue of Liberty. On an even more exciting note, Intamin has been explicitly attached to the project, who's tower(s) will feature "300-foot-tall transparent tubes that riders will traverse over a 90-second experience" (who else, really?). Only one image to date offers hints at what the attraction will look like, with separate towers attached to at least two sides;
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Some general concept artwork of the Torch;
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Completion is scheduled for Q2 2027. It's not been without accidents, but generally it's definitely a construction project right now;
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Last December the Rockefeller Center opened up 'The Beam" on their observation deck, where guests can sit down on a raising piston and recreate the iconic "Lunch Atop A Skyscraper" photo. General admission to the deck can start at anywhere between $30-55 and "riding" The Beam itself is another $25. A giant drop tower near Times Square is NOT going to be cheap, but definitely a cool attraction to look forwards to in a few years. Until then, this project very much has my interest.
 
I'm generally a bit of a sucker for bold architectural designs (heck - I'd love to get my teeth into a project like this), but that's hideous. :D

Drop tower is a neat addition though. Wonder how that ended up in the plans - having sat through many a design meeting for these sorts of projects, those ideas are often booted off once the cost cutting "value engineering" starts.
 
As much as I like the idea of having a drop tower amidst Manhattan, I dislike the "torch" design. To me, it looks more like a nibbled on trunk that's going to be an extension to a beaver's dam rather than a person holding a torch.
 
ahh yes, drop towers on city-buildings, that always works out well...


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(ex-Yabafo in Osaka)
 

Extell Teeing Up $1.3B For 'The Torch' Supertall​


Extell Development has lined up financing that could allow it to move forward on a supertall mixed-use hotel in the Theater District, equipped with an observation tower and high-elevation, 260-foot drop ride.

Gary Barnett’s firm has entered into a memorandum of intent with an unnamed bank that would provide as much as $1.3B of financing, consisting of a senior construction loan and mezzanine debt, for the development of what has been dubbed “The Torch,” according to a Feb. 25 filing on the Tel Aviv Stock Exchange, obtained by Bisnow and translated via Google.

Additionally, the filing says that the company has signed a letter of intent with an unnamed hotel chain that would also help firm up the financing. The brand has agreed to invest in the project’s construction and provide a guarantee that might allow Extell to land an additional $150M mezzanine loan.
An Extell spokesperson didn't respond to Bisnow’s request for comment.

If Extell is able to secure the capital, it would fuel the construction of the 875K SF, 825-room hotel. Some work has already begun on the 1,067-foot-tall building that would tower over Times Square.

The company estimates that construction would take approximately 4.5 years and that the project would generate an annual net operating income of between $250M and $270M, according to the filing.

In typical Extell fashion, the supertall development would be built on an assemblage that Barnett pieced together through the years with various land and air rights purchases.

Renderings revealed last year by New York YIMBY have shown a tall, spiral-like column, surrounded by glass-enclosed staircases, as well as a 300-foot-tall transparent tube for the amusement ride.

In addition to the hotel and ride, there are plans for an observation deck, VIP lounge and pool deck, and restaurant and retail space, according to previously reported filings.
The Department of Buildings has approved the thrill ride, but it has been a subject of debate between the Theater District community and Barnett, who has argued that such attractions are the future of New York City’s hospitality industry.

His push to get started on 740 Eighth Ave. is far from the only major project he has cooking in Manhattan. After purchasing the office tower at 655 Madison Ave. last year for $160M, Barnett paid $103M this weekfor three properties right next to it. Extell plans to tear down the buildings and build luxury condos on the Lenox Hill site, according to DOB filings.
 
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