NYC's Luxuriest Building Is First Sandy Casualty: Live Webcast Of Crane Dangling On 75th Floor

Tyler Durden's picture




 

While we are still hours away from "Peak Storm", the structural casualties are already adding up.  FDNY reports a 2nd alarm alert at the soon-to-be tallest residential building in Manhattan - 157 West 57th Street (aka One57, where recently a record price was paid for a duplex apartment) entailing a dangling crane. The area is being evacuated - to somewhere we assume that does not have cranes (good luck finding that). The critical question for Steve Liesman remains - how much more is a 'broken crane' worth to GDP than a 'broken window'? Live stream embedded below...

 

UPDATE: New York City officials order evacuation of upper floors of several
buildings near site of partially collapsed crane.

Here is the clip of the actual collapse!!!

 

Here is the close-up stream of the crane (via NBC):

View more videos at: http://nbcnewyork.com.

 

 

And CBS Local news updates:

Current Over/Under on collapse is 6/9 hours

 

Emergency links (click image for real-time updates)

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Mon, 10/29/2012 - 15:10 | 2928629 vast-dom
vast-dom's picture

KEYNESIAN WET DREAM

Mon, 10/29/2012 - 15:11 | 2928633 KingTut
KingTut's picture

Wet dream and Blow Job!

Mon, 10/29/2012 - 15:13 | 2928634 vast-dom
vast-dom's picture

No reach around? Even with big balls dangling from cranes....

Mon, 10/29/2012 - 15:13 | 2928638 fuu
fuu's picture

Krugman's unit is missing a few layers of skin at this point.

Mon, 10/29/2012 - 15:15 | 2928640 Pladizow
Pladizow's picture

Its mimicking the Bernak's limp monetary policy!

Mon, 10/29/2012 - 15:16 | 2928642 vast-dom
vast-dom's picture

limp in the face of moist hot increses in destruction induced aggregate demand?

Mon, 10/29/2012 - 15:19 | 2928650 vast-dom
vast-dom's picture

And on the Nth Day of QEternity it hurricaned fire and brimstone.

Mon, 10/29/2012 - 15:25 | 2928658 ZerOhead
ZerOhead's picture

ZerOhedge Alert:

Attention NYC...

Just in case the rumors are true that 157 57th Street is owned by Larry Silverberg I would be quickly heading to the exits before the building experiences a freefall collapse followed by a mega insurance payout...

Just sayin'...

Mon, 10/29/2012 - 15:29 | 2928686 Big Corked Boots
Big Corked Boots's picture

PULL IT!

(sorry, had to say it)

Mon, 10/29/2012 - 15:41 | 2928705 ZerOhead
ZerOhead's picture

Don't be sorry...

Larry was going to be in the building for the collapse but instead his wife told him to go to a forgotten appointment with his proctologist.

Apparently he has an embarrassing problem with money leaking out of his ass...

Mon, 10/29/2012 - 15:57 | 2928758 francis_sawyer
francis_sawyer's picture

Hey You... Get off of my Cloud...

Mon, 10/29/2012 - 16:17 | 2928801 knukles
knukles's picture

Green eco-skidmarks...

Mon, 10/29/2012 - 15:57 | 2928757 _ConanTheLibert...
_ConanTheLibertarian_'s picture

We decided to pull Crane No. 7. Look ma no hands!

Mon, 10/29/2012 - 16:22 | 2928813 Haole
Haole's picture

Isn't it Silverstein or did I miss some hidden meaning there..?

Mon, 10/29/2012 - 17:01 | 2928970 ZerOhead
ZerOhead's picture

Point conceded Mr. Know-it-all... ;)

Mon, 10/29/2012 - 15:19 | 2928652 MillionDollarBonus_
MillionDollarBonus_'s picture

All those waisted premiums sitting in the bank accounts of insurance companies will now be spent into the economy. Again, I don't mean to sound krass, but the resulting increase in aggregate demand is going to be simply spectacular. 

Mon, 10/29/2012 - 15:21 | 2928655 vast-dom
vast-dom's picture

most of the savings on the east coast was spent already on bottled water and stale bread.

Mon, 10/29/2012 - 15:24 | 2928671 Beam Me Up Scotty
Beam Me Up Scotty's picture

MDB, you are a bona fide Dumb Ass.

Mon, 10/29/2012 - 15:31 | 2928689 ZerOhead
ZerOhead's picture

Spectacular indeed.

I've positioned myself long in ShamWows...

Mon, 10/29/2012 - 15:31 | 2928691 Mad Mohel
Mad Mohel's picture

I hope one day someone on here (not me, I'm a pacifist) finds you and gives you a good ass beating. Even if you are a troll, your general manner is deserving of it. "Simply spectacular" what a prick!

Mon, 10/29/2012 - 15:38 | 2928703 TheCanadianAustrian
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Maybe you're new here. His goal is to root out and make fools of people who aren't smart enough to recognize the trolling. You just got owned.

Mon, 10/29/2012 - 19:43 | 2929507 willwork4food
willwork4food's picture

I don't get it. You're saying MDB is playing a troll? What he said sounded logical to me. What was wrong with that?

Mon, 10/29/2012 - 15:47 | 2928728 Zero Govt
Zero Govt's picture

MDB  -  you "sounding crass"? ...you're kidding. You and Paul Krugman are sane, it's the rest of the world that's completely lost it

Mon, 10/29/2012 - 16:20 | 2928810 walküre
walküre's picture

premiums sitting in equity and bond accounts

the withdrawal barrage to cover the payouts will be EPIC

 

Mon, 10/29/2012 - 16:28 | 2928829 dbomb12
dbomb12's picture

Thus triggering the much anticipated HYPERINFLATION

Mon, 10/29/2012 - 18:25 | 2929214 reTARD
reTARD's picture

MDB is right. This would be closer to the stimulus Krugman called for short of an alien invasion. All that damage will continue to increase the GDP growth which resulted from increased federal government spending.

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

Also if enough Apple products get flooded out, the personal consumption expenditures (PCE) should continue to accelerate as well. ;-)

Tue, 10/30/2012 - 22:42 | 2933520 MeelionDollerBogus
MeelionDollerBogus's picture

'waisted' ?

Come on, if we're to see some Million-Dollar douchery at least ensure it's one of the literate Tyler/Bots that's doing it. I know there's a lot of Tylers and a lot of variety but come on ... MDB is a particular kind of character with specific traits that are obvious when missing.

Mon, 10/29/2012 - 15:16 | 2928644 Manthong
Manthong's picture

Momentary perch for the black swan.

Mon, 10/29/2012 - 15:19 | 2928653 NewThor
NewThor's picture

Let us say this flood is a metaphor,

laugh now for soon this flood

will be at your door.

Mon, 10/29/2012 - 16:48 | 2928911 Karl von Bahnhof
Karl von Bahnhof's picture

Yeah, just another regular black swan, like every year about this time.

Mon, 10/29/2012 - 15:19 | 2928651 SeverinSlade
SeverinSlade's picture

Only Keynesians are crazy enough to believe that rebuilding things that have been destroyed somehow translates into growth.

Mon, 10/29/2012 - 15:22 | 2928667 Mae Kadoodie
Mae Kadoodie's picture

ClusterFuck

Mon, 10/29/2012 - 15:54 | 2928748 slaughterer
slaughterer's picture

Isn't the underlying fantasy of this event that we all want everybody in the storm path to die a horrible, agonizing death?  Even ourselves?  And that we want to watch it in real-time detail.  I am sorry, but the professional reportage cannot hide the underlying phantasm of disaster and mass death at play here.  

Mon, 10/29/2012 - 16:06 | 2928777 fuu
fuu's picture

Like something out of an early Jonathan Littell novel.

Mon, 10/29/2012 - 16:38 | 2928867 UGrev
UGrev's picture

Uh.. no. Well.. kind of... We just want it to hover over D.C... you know.. for like 40 days and 40 nights. Then it can vanish, courtesy of the manhatten project, and reappear over chicago, then replicate over hollywood. 

Mon, 10/29/2012 - 19:57 | 2929543 willwork4food
willwork4food's picture

Sensastionalism @ its best.

I was watching the local news here on the coast in VA. The Operah wanna be weather reporter was outside in the rain, wind with the camara showing half submerged cars behind her in a residential neighborhood. She was using the obligatory catch- alls like "unprecidented"," spectacular", bla, bla, when she grabed this one black chick from her front yard trying to get some additional studio brownie points.

WEATHER GIRL: " Have you EVER seen such a huge amount of water like this in your neighborhood"?

BLACK CHICK: " Yup. Happens all the time it rains a little."

(Flustered) WEATHER GIRL: Can you BELIEVE how many cars are abandoned behind our camaras?

BLACK CHICK: " Yea, That happens all the time too. I can't believe the dummies left their cars there over the weekend. We moved ours just up the road Friday."

I almost peed myself.

Mon, 10/29/2012 - 15:10 | 2928630 fonzannoon
fonzannoon's picture

I'm starting to wonder if this storm could end up being the black swan everyone was looking for. Maybe a few poorly hedged insurers bite it.

Mon, 10/29/2012 - 15:22 | 2928665 NewThor
NewThor's picture

This storm is only the beginning.

A series of disasters has just begun.

Mon, 10/29/2012 - 15:54 | 2928747 MsCreant
MsCreant's picture

I wonder about a poster like you. What are you about? Is it an "I told you so?" Are you warning folks about what you think is going to take place? Do you think it could be helpful? I have never junked you don't take this wrong, I am genuinely curious. I can't get my head into your perspective.

Mon, 10/29/2012 - 16:01 | 2928770 ZerOhead
ZerOhead's picture

As I have said before...

It's the Iranian landing craft using the storm as cover that we should all be worried about! ;)

Mon, 10/29/2012 - 16:02 | 2928772 bunnyswanson
bunnyswanson's picture

The cost to repair the damage resulting from this storm may be substantial considering it's size and formation. 

Mon, 10/29/2012 - 17:16 | 2929024 TSA gropee
TSA gropee's picture

From a purely statistical standpoint, one could look at the trends with regards to the frequency and severity of "natural disasters" and come to a reasonable conclusion that there are more to come, more often.

Mon, 10/29/2012 - 18:47 | 2929290 ZeroAvatar
ZeroAvatar's picture

Yep!  All we need NOW is for a big cold front to come in and turn everything to ice, just like in "The Day After Tomorrow".

Mon, 10/29/2012 - 15:10 | 2928631 Randall Cabot
Randall Cabot's picture

Light rain and wind all morning here in King of Prussia but Sandy is rearing her ugly head in the last half hour with rain and wind getting louder and louder!!!

Mon, 10/29/2012 - 16:25 | 2928821 Trimmed Hedge
Trimmed Hedge's picture

Just be careful of all those falling leaves!!

Mon, 10/29/2012 - 15:11 | 2928632 RacerX
RacerX's picture

GDP +3.1%

Mon, 10/29/2012 - 15:13 | 2928635 Bansters-in-my-...
Bansters-in-my- feces's picture

Fuck you Bernanke....

This is a financial blog,is it not...?

Mon, 10/29/2012 - 15:20 | 2928654 Tyler Durden
Tyler Durden's picture

One 57 Sales Update:

According to The Real Deal, as of February 1, 2012, the building is over 30% sold and demand has been very strong, especially for Combinations and Full Floor apartments.  The building has already been through one recent price increase and is now averaging around $6,000+ per sq. ft. If you are interested in learning more about this project, including prices and availability, please contact us.

March 7th, 2012

There are only two 2 bedrooms residences left at One57 – 46th floor for $7.8 million and 47th floor for $7.9 million.

April 20th, 2012

One 57 just released two 1 bedroom units starting in the $3mm – $4.5mm range. Units sizes are 1,021 sq.ft. (South exposure) and 1,287 sq.ft. (South & West exposure).

May 18th, 2012

One 57 breaks record announcing a sale price of over $90 million for its duplex penthouse on the 89th and 90th floors, the highest price ever paid for a single residential property in Manhattan. One 57 is now over 50% sold with over $1 billion in total sales since its launch only six months ago.

While this is a record sale, on a per square foot basis, the penthouse sold for over $8,200 square feet which still does not come close to the $13,000 per square foot price paid for the Penthouse at 15 Central Park West only a few months ago. That being said, the sale is a milestone for this iconic building that will be one of the very top buildings in New York City for decades to come.

* * *

Maybe you are confused, but a story about flailing crane on a building in which an apartment just a few months ago sold for a record price, in the city of New York (where due to a 'financially irrelevant' storm the capital markets are now shut down for a historic two days due to a storm with huge impacts on financial markets everywhere), and where future sales may be impaired as a result of said crane say crashing against the building, maybe, just maybe, has financial connotations.

All of the above could have been promptly uncovered with a simple google search. But why when that takes away from precious typing "fuck you Bernanke" and bitching time.

Of course, by now you are surely on the other post discussing sovereign CDS and "hard core finance" issues right now, or better yet, concocting even more profound editorial advice, so there is no point in event writing this response.

Mon, 10/29/2012 - 15:26 | 2928674 NewThor
NewThor's picture

Sorry Tyler,

It's an age old rule,

you can't choose your followers. 

 

Mon, 10/29/2012 - 15:28 | 2928680 Bansters-in-my-...
Bansters-in-my- feces's picture

Tylers having a bad hair day.....

Poor boy.

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