Earlier this year, Silverstein Properties paid roughy $100 million for a car dealership at 520 West 41st Street, aka 514 Eleventh Avenue, in Midtown West. Last summer, YIMBY revealed plans for an 106-story, 1,400-unit mixed-use tower at the site (currently traversing ULURP). Although the proposed 1.685 million square-foot building has yet to be approved, Curbed reports demolition of the existing low-rise commercial building has begun.
The proposal calls for 300,000 square feet of retail and 175,000 square feet of corporate apartments in the building’s base. A tentative timeline estimates construction should begin in 2017 for a 2020 completion, pending administrative approval.