Zar Property NY has nearly completed the renovation of an eight-story commercial office building at 349 Fifth Avenue in Midtown, Manhattan. Located across the street from the Empire State Building, the property now offers tenants a bright new lobby, a roof terrace, modernized elevator cabs, and 8,000-square-foot through-floor offices with minimal columns or dividing walls to maximize the flow of natural light.
Work is wrapping up on The Frame Building, an eight-story office conversion at 541 West 21st Street in West Chelsea. Designed by Mancini Duffy and Pizzacora and developed by Higher Ground Development, the project involves the interior gutting and façade replacement of the 65,000-square-foot former warehouse. Erbo Properties LLC is the owner, JLL is the broker, and Cauldwell Wingate is the general contractor for the property, which is located by the corner of West 21st Street and West Street.
Construction has reached the halfway point on 131-141 East 47th Street, a 34-story residential skyscraper in Midtown East. Designed by Ismael Leyva Architects and developed by Silverback Development, the 500-foot-tall structure will yield 200 apartments ranging from studios to two-bedroom units as well as 5,000 square feet of ground-floor retail space with frontage along West 47th Street. Silverback was brought onto the project by Hopson Development Holdings, which purchased the rectangular parcel for $115 million in December 2019 from the original developers, New Empire Real Estate. Structure Tech New York and Cauldwell Wingate are in charge of building the project, which is located between Lexington and Third Avenues.
Foundation work is nearly complete for the Fashion Institute of Technology‘s New Academic Building, a ten-story building in the Garment District of Chelsea. Designed by SHoP Architects, the structure will yield 110,000 square feet. EE Cruz & Company Inc. is the general contractor for the project, which is located between Seventh and Eighth Avenues, within walking distance of Penn Station, Madison Square Garden, and Moynihan Train Hall. The developer is aiming for LEED Gold certification.
Construction teams at TSX Broadway, a mixed-use hotel tower at 1568 Broadway in Times Square, have begun work on the lifting of the Palace Theatre. The historic venue is being hoisted 30 feet above street level to make way for ground-floor retail space.