Over the summer, YIMBY brought you new renderings and details on the planned 88-unit luxury residential tower at 36 Central Park South, dubbed 1 Park Lane, which would replace the 46-story, 628-key Park Lane Hotel. The project was in the pre-development stages and advertised in the EB-5 program, but its developers, Witkoff and Macklowe Properties, are shelving plans for now, Bloomberg Business reports. Due to uncertainty in EB-5’s congressional reform, a slowdown in the Chinese economy, and an over-saturation in the ultra-luxury residential market, the Park Lane will remain as a hotel for the foreseeable future. Its operations and management are in the process of being repositioned, and Witkoff is in talks to refinance debt on the property.
1 Park Lane
Last month, YIMBY posted the first renderings for the tower coming to 36 Central Park South, on the site of the old Helmsley Hotel. The first version was created by Handel Architects, and the second — which we only had a glimpse of — was designed by Herzog & de Meuron, and we now have additional images of that version.
Yesterday, YIMBY revealed the exteriors for 1 Park Lane, which has an actual address of 36 Central Park South, the site of the current Helmsley Park Lane. While we speculated that Vinoly was behind the renderings, we have now learned that Handel Architects is in fact behind the design, which is unsurprising considering the supertall does resemble a vertically extruded take on the Trump Soho (another Handel project). The 1,210-foot tall building will have 88 condominiums, and completion is expected by 2020.
YIMBY previously brought you preliminary plans for the Witkoff-led redevelopment of the Helmsley Park Lane, at 36 Central Park South, and followed up with a post indicating that Richard Rodgers would be the architect. We have now obtained the first official renderings of the project, showing its exteriors, and while YIMBY has been unable to obtain confirmation regarding the architect, we strongly suspect it is now Rafael Vinoly. Documents also indicate the building will stand 1,200 feet tall, making it one of the tallest in the city.