Excavation is set to begin at 417 Park Avenue, site of a 220,000-square-foot office tower in Midtown East. The project is being developed by GDS Development (GDSNY) and Klövern AB, which acquired the property for $184 million and are also building on an adjacent plot to the south at 409 Park Avenue. The plot is located at the corner of Park Avenue and East 55th Street and will rise with a floor area ratio of 25 under the Midtown East Rezoning regulations.
Recent photos show the site cleared of the former 14-story co-op building that once stood on the lot, with several construction machines idly awaiting the start of work. A portion of the land has been partially excavated during the demolition of the old structure. A mix of crushed concrete and brick fragments is scattered across the plot and will soon be hauled away once excavation commences.
417 Park Avenue. Photo by Michael Young
417 Park Avenue. Photo by Michael Young
417 Park Avenue. Photo by Michael Young
Meanwhile, 405 Park Avenue stands covered in black netting and metal scaffolding in preparation for its demolition at the corner of Park Avenue and East 54th Street.
417 Park Avenue. Photo by Michael Young
No official renderings, architect of record, nor completion date have been revealed for 417 Park Avenue, but YIMBY will keep an eye out for further information.
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Sound strange a new office building.! Plenty of empty building around the city