Nothing formal has been announced, but it looks as though Silverstein’s plans for 514 Eleventh Avenue are now proceeding. The lot–currently occupied by a Mercedes dealership–is situated between the 42nd Street corridor and the Hudson Yards, making it a prime candidate for a large mixed-use development. .
Blueprints for the building’s first three retail floors show a development similar to Silverstein’s neighboring Silver Towers, but with a lot more retail. Floor plans show how the enormous ground levels are punctuated by two elevator cores, so it isn’t hard to come to the conclusion that this will be yet another twin-towered development.
The area surrounding 514 Eleventh Avenue is still dominated by entrance ramps for the Lincoln Tunnel. Each successive project goes a long ways towards transforming the overall neighborhood, and 514 Eleventh is just one of many proposals that should be imminently underway. Extell has an adjacent site at 502 West 41st Street, and the zombified Atelier II is also right around the corner. Piece by piece, a new community is finally coming together.
RKF’s site has the full rundown on the leasing availability at 514 Eleventh Avenue, and the early renderings make the retail space look quite large. The store design isn’t bad, although projects in this neighborhood tend to get value-engineered. If the glimpse below is anything to go by, a grocery store like Whole Foods could be an anchor tenant, in addition to a big box store.
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| 514 Eleventh Avenue, image from RKF |
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| 514 Eleventh Avenue Retail Plans, image from RKF |
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Larry Silverstein, Gary Barnett of Extell and Steve Ross of Related Companies have taken a once filthy and decrepit area from 43rd to 33rd Street and transformed this entire area of Manhattan to transcend this area like no human being has ever seen! I’ve visited the area several times and to this day I still could barely believe my eyes when I saw this compelling conversion. Such an accomplishment from these three real estate organizations became the greatest milestone since the conversion of Times Square.