Demolition is underway at 123-141 West 57th Street, the site of a forthcoming 26-story, 185,000-square-foot office tower along Billionaires’ Row in Midtown, Manhattan. The site is located between Sixth and Seventh Avenues, surrounded by Christian de Portzamparc’s One57 and SHoP Architects‘ 111 West 57th Street. It was recently reported that Alchemy Properties and ABR Partners closed a $120 million deal to purchase the property, which was owned by Calvary Baptist Church and includes the adjacent 16-story, 153-foot-tall Salisbury Hotel. ABR Partner’s equity partner, Cain International, had brought on Security Benefit Life as the new lender. The total construction cost for the project is estimated to be roughly $350 million.
As of right now it looks like all the windows on the southern elevation facing West 57th Street have been removed and interior gutting should be well underway. A construction elevator has been attached to the brick façade, and black netting and scaffolding covers the structure. Demolition should progress throughout 2022 and we should likely see the lot come down to street level by the end of the year.
No renderings or architect have been released for the project, but we can assume that the top floors of the structure would feature Central Park views from above the row of prewar buildings that make up Central Park South. A finalized architectural height is also unclear, though YIMBY estimates it to be no more than 300 feet tall. The Calvary Baptist Church will own and occupy the lower section of the building, which will include a new auditorium.
The new office building is expected to be finished sometime in 2024.