The monolithic, dark glass office tower at the corner of Madison Avenue and 46th Street is being stripped of its dreary facade, partially demolished, and rebuilt with new floors. The block-long structure at 380 Madison Avenue will be reborn, taller and more translucent, as 390 Madison Avenue in 2018.
In 2014, investors Issac Chetrit and Charles Aini acquired, for $268 million, the 24-story, 415,000-square-foot multi-use commercial building at 1412 Broadway and the three-story, 7,000-square-foot retail property at 1420 Broadway. The buildings are located at the corner of West 39th Street. Now, the property owners have disclosed plans to redevelop the three-story retail building into a roughly 15-story, 80-key hotel, The Real Deal reported. The 2,286-square-foot property can accommodate up to 34,290 square feet of commercial development. The existing property is triple-net leased through 2020, which means construction won’t begin until the lease expires and the tenants vacate the premises. The eventual hotel building will connect to the retail component of 1420 Broadway through the ground floor. Plans have not yet been filed with the Buildings Department.
A 220-foot-tall office development is set to replace two smaller buildings – one mixed-use and the other commercial – in Midtown’s tiny Diamond District. New building applications were filed Friday for the 17-story building at 43 West 47th Street, between Fifth and Sixth avenues.
Over the weekend, it was revealed, by the New York Post, that Extell Development is partnering with Hard Rock International to build a Hard Rock Hotel at 151-159 West 48th Street, located mid-block between Sixth and Seventh avenues, near Times Square in Midtown. Now, a rendering and additional details have been released in a Curbed NY report. The hotel tower will boast 445 rooms, a lobby lounge, a restaurant and bar, a rooftop lounge, and an underground speakeasy-style establishment. The hotel will also feature iconic music memorabilia, like many Hard Rock locations do. The 13,153-square-foot site is currently occupied by a seven-story parking garage and a five-story tenement building. Permits were filed to demolish the garage in February. The assemblage can accommodate 180,336 square feet of commercial development as-of-right. Additional air rights can be acquired elsewhere on the block and from around the district, as the site sits within the special Times Square zoning district.
One of the greatest single engineering challenges currently under construction in New York City has risen above ground. That project is the supertall mixed-use residential tower 111 West 57th Street, located just west of Sixth Avenue in Midtown, and we can see the construction progress on the Billionaires’ Row building thanks to several photos posted by YIMBY Forums users.