Macklowe Properties Lands $192 million Refinancing for Tower Fifth Supertall

Tower Fifth, rendering by TMRW via Gensler / the NY TimesTower Fifth, rendering by TMRW via Gensler / the NY Times

Macklowe Properties recently negotiated a refinancing package to the tune of $192 million for Harry Macklowe’s three Midtown parcels. Two of the lots, 5 East 51st Street and 12 East 52nd Street, could be the home of Tower Fifth, a 1,556-foot-tall office tower and New York City’s future tallest building by roof height. The refinancing from Fortress Investment Group also includes the 17 East 47th Street site and a new $50 million mortgage replacing a $124 million loan.

As reported by The Real Deal, it is not clear if 17 East 47th Street was part of the original parcel assemblage.

The site for the supertall Tower Fifth is located in Midtown East, between Fifth Avenue and Madison Avenue. With 96 floors, the $1 billion development would become the third-tallest office tower by floor count, surpassed only by the 102 stories of Empire State Building and the 104 floors of One World Trade Center.

An expected start or completion date for Tower Fifth has not been announced.

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14 Comments on "Macklowe Properties Lands $192 million Refinancing for Tower Fifth Supertall"

  1. Denis Schroeder | October 10, 2019 at 9:04 am | Reply

    Such an ugly building. Is this the real deal, or just a preliminary rendering?

  2. Please, for all that is good in this world, do not build that hideous monstrosity shown in the rendering. Clearly being an “architect” doesn’t mean anything anymore.

  3. David in Bushwick | October 10, 2019 at 10:04 am | Reply

    Good gawd this design is simply hideous. It’s unrefined, ungainly and uncouth.
    It will be a horrible in-your-face symbol of the extreme, vulgar greed that is destroying our culture.

  4. What’s with your “greed” obsession? Are you envious of those who have more than you? It sure sounds like it.

  5. How many different ways can we count how ‘tall’ a building is? Floor Count Height? Parapet Height? Antenna Height? Let’s make up our minds and stick to one please…

  6. That design is a crime against New York City and America. There is absolutely no way it should be built.

  7. C’mon…. NYCs skyline was gorgeous until the 40s… then these flat tops took over 🤬

  8. Yuck,for God’s sake..if you possess that much money, at least contribute to the skyline in a meaningful way.Looks like 432 Park Ave’s larger twin sister.

  9. Another overbearing mindless monstrous flat top defiling the streetscape and the skyline. I hope it never gets built.

  10. Love this design too. I don’t get all the negativity. were these people architecture majors who couldn’t find a job? I think these new highrises going up in this era are far better than what was designed even 10 years ago. The new WTC is hideous. Flat glass walls makes it look cheap. Had they sunk the windows and used metal it would have been far better looking.

  11. This would be so awesome! I hope it gets done! It would become America’s tallest roof!

  12. The proposed 1,500-foot Vornado/Rudin 350 Park Avenue,less than two blocks directly to the east,
    should be shown in the renderings.Macklowe is lucky that Kushner’s 1,400-foot redevelopment plan for 666 Fifth (directly across 52nd Street) fell through in terms of being able to advertise views!

  13. UGGGGHHHHHHH! I was hoping the refinancing would fail and this hideosity would never get the light of the day. Uggghhhhh.. That thing should never be built with that awful design. Just look at the elegant structures around it in that picture rendition. The crystal like magnificens of the all those new structures around MoMA, the old Rock, the new Park!!! ugghhhh

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