Midtown

Developer Grows High-Profile Mixed-Use Assemblage at 16 West 57th Street, Midtown

11:00 am on May 31, 2016 By Reid Wilson

Back in September of 2014, YIMBY brought you an update on the development site at 16 West 57^th Street, along Midtown’s Billionaires’ Row, when the property was acquired for $95 million by a Brazilian investor. Last week, developer Sheldon Solow acquired the property, a five-story, 24,000-square-foot commercial building, for $128 million, The Real Deal reported. The developer also owns the adjacent properties at 10 West 57^th Street, 20 West 57^th Street, and 19 West 56^th Street. The site assemblage now boasts 213,000 square feet of residential development rights, plus additional rights that can be put towards a commercial component. The new owner has yet to disclose plans for the site. Demolition permits were filed last year to raze 16 West 57^th Street as well as the six-story office building at 19 West 56^th Street.

Full Reveal For 281 Fifth Avenue, 52-Story Tower Coming to NoMad

2:30 pm on May 27, 2016 By Reid Wilson

YIMBY has covered the evolution of 281 Fifth Avenue extensively, first posting concept renderings that surfaced all the way back in 2014. Now, the full design has been posted to the site, as per the YIMBY Forums. The building is being developed by the Victor Group in joint venture with Lendlease, and it’s being designed by Rafael Vinoly. DOB records indicate it will rise 52 floors and 708 feet to its highest occupied floor, with the roof topping-out 728 feet above street level. There will be 7,927 square feet of commercial space at the base, topped by 209,417 square feet of residential space, to be divided amongst 141 condominiums. Completion is tentatively anticipated for 2018, and while the site’s old occupants have been demolished, there is currently a stop-work order in effect.

Renovations Planned at 575 Fifth Avenue, a 35-Story, 360,000-Square-Foot Office Tower in Midtown

3:00 pm on May 25, 2016 By Reid Wilson

Property owners Beacon Capital Partners and MetLife (the insurance company) are planning to execute a $25 million renovate on their 35-story, 533,695-square-foot multi-use commercial building at 575 Fifth Avenue, located on the corner of East 47th Street in Midtown. Planned is a redesigned lobby, new exterior and interior elements such as a building canopy, signage/advertising, and lighting, and new amenities such as a 6,000-square-foot conference center and a lounge, Real Estate Weekly reports. The 360,000-square-foot office portion already connects to the building’s three stories of retail and restaurants via an atrium. Barneys New York recently signed on to 72,000 square feet at the tower, and Westpac Banking Corporation and Northwood Investors each have leased 15,000 square feet. The building was developed in 1983.

Office Portion of 20-Story 685 Fifth Avenue Getting 90-Key Boutique Hotel Conversion & Expansion, Midtown

10:00 am on May 25, 2016 By Reid Wilson

In April, news broke that Istanbul-based Gulaylar Group entered into contract to acquire the entire 90,000-square-foot office portion of the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, on the corner of East 54th Street in Midtown. The deal includes the development rights to vertically expand the building by five stories. Those air rights were made available after property owners General Growth Properties and Thor Equities repositioned the building’s three stories of retail space, which now measures 23,400 square feet and is being made into Coach’s flagship store. Now, Gulaylar has disclosed plans to convert the office portion they are buying, along with the future expansion, into a 90-key boutique hotel, The Real Deal Reports. Five hotel chains, including Oetker Collection, AccorHotels, and LVMH’s Cheval Blanc, are currently in negotiations with the developer. The building’s remaining office tenant is moving out in August. Walter Marin’s Midtown-based Marin Architects is the architect of record for the expansion.

217 West 57th Street, aka Central Park Tower, as seen from West 57th Street. Photo by Tectonic for YIMBY

Construction Update: Supertall 217 West 57th Street, a.k.a. Central Park Tower

8:00 am on May 23, 2016 By Evan Bindelglass

On Friday, we brought you an update on construction of 220 Central Park South, now quickly rising over the park. However, what’s behind it will eventually eclipse it. We’re talking about 217 West 57^th Street, officially known as Central Park Tower and dubbed Nordstrom Tower by YIMBY.

220 Central Park South, as seen from West 58th Street. Photo by Tectonic for YIMBY

Construction Update: 220 Central Park South

8:00 am on May 20, 2016 By Evan Bindelglass

It’s been a few months since we last checked in on the Robert A.M. Stern Architects-designed 116-unit residential project going up at 220 Central Park South. Back in February, the tower portion had risen to about 15 stories. Now, as seen in photos supplied to YIMBY by photographer Tectonic, the tower has risen past 25 stories, on its way to 70, with more of the Alabama Silver Shadow limestone cladding in place.

Reveal for 42-Story, 556-Unit Rental/Condo Tower Planned at 685 First Avenue, Murray Hill

6:30 am on May 20, 2016 By Reid Wilson

In August of 2015, YIMBY reported on applications for a 42-story, 550-unit mixed-use building at 685 First Avenue, located between East 39th and 40th streets in Murray Hill. Now, new details and renderings of the building have been revealed by the Wall Street Journal. The 459-foot-tall tower will actually contain 556 residential units and measure a whopping 828,000 square feet in its entirety. Two-thirds of the units will be rental apartments while the remaining one-third will be condominiums. Amenities include an underground 110-car garage, storage for 282 bikes, laundry facilities, a pool, a fitness center, a library, and recreational and assembly rooms. There will also be 10,088 square feet of ground-floor retail. Richard Meier & Partners Architects is behind the design, and Sheldon Solow is the developer. Excavation is reportedly underway, and completion is expected in 2018.

Developer Acquires Mixed-Use Development Site at 317-319 West 35th Street, Garment District

1:00 pm on May 19, 2016 By Reid Wilson

Great Neck-based Mayflower Business Group has acquired the two five-story tenement buildings at 317-319 West 35th Street, in the Garment District section of Midtown, for $28 million. The new owner is planning to demolish the existing buildings and construct a new building, according to The Real Deal. The 4,937-square-foot site could accommodate 49,370 square feet of development rights, although Mayflower has the option to purchase an additional 10,000 square feet of air rights from the city. A residential building, a hotel, an office building, or a mixed-use project could be built at the site. Demolition permits were filed in March. Combined, the buildings contain 24 rental apartments and four commercial-retail units.

Rendering of 242 West 53rd Street. Via CetraRuddy.

Foundation Work Complete for 62-Story, 426-Unit Mixed-Use Tower at 242 West 53rd Street, Midtown

6:00 am on May 19, 2016 By Reid Wilson

YIMBY last brought you a construction update in December, when foundation work was underway, on the 62-story, 426-unit mixed-use tower planned at 242 West 53rd Street (a.k.a. 239 West 52nd Street), in Midtown between Eighth Avenue and Broadway. Since then, foundation work has largely wrapped up, as seen in photos by Vertical Gotham via the YIMBY Forums, which means construction can now proceed skyward. Residential units in the 542,276-square-foot, 675-foot-tall tower should average 1,024 square feet apiece. There will also be 16,514 square feet of ground floor retail space. Amenities will include a 90-car parking garage, storage space for 247 bikes, a fitness center, a swimming pool, a basketball court, a golf simulator, and a private entertainment area. There will also be outdoor terraces on the second, third, and 61st floors. Algin Management is the developer, while CetraRuddy is behind the design of the exteriors and interiors.

Plans for ‘Gulliver’s Gate’ Tourist Attraction Move Forward at 216 West 44th Street, Times Square

6:30 am on May 13, 2016 By Reid Wilson

Late last year, news broke that E&M Associates and Eiran Gazit were planning to build a 49,000-square-foot Times Square tourist attraction in part of the 12-story former New York Times Building, an individual landmark at 229 West 43rd Street and 216 West 44th Street (the north building is not landmarked), in Midtown. Now, the team has filed plans with the Department of Buildings for the project, dubbed Gulliver’s Gate, The Real Deal reports. The ground floor portion will include the reception and ticketing areas, as well as a gift shop, while the second will host the main exhibit. The project is expected to begin the city’s Uniform Land Use Review Procedure (ULURP) shortly. It also requites exterior alterations to the 43rd Street side, which will need to be approved by the Landmarks Preservation Commission. Last November, the team signed a 15-year lease for part of the ground floor and the entire second floor of the building. Kushner Companies acquired the retail portion of the property, which also contains office space, in early 2015 for $296 million. If all goes as planned, completion can be expected in 2017. Stanley Wong’s SP WONG Architect is the architect of record.

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