Midtown

53 West 53rd Street

Foundation Work Begins at 53 West 53rd Street, Formerly Torre Verre, Midtown

The saga behind the rise of 53 West 53rd Street is finally drawing to a close, and after excavation began approximately one year ago, foundation work is finally beginning for the future supertall. When we last checked on the project, digging had made some progress, but the latest photo set from ILNY shows the base of a crane has now been installed, rebar is arriving, and that excavation work has seemingly wrapped up.

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520 Fifth Avenue

Developers Close On 520 Fifth Avenue, Plan 71-Story Mixed-Use Tower, Midtown

In June, Ceruzzi Properties was reportedly in contract to purchase 520 Fifth Avenue, on East 43rd Street, and now the developer has closed on the $325 million site, according to Commercial Observer. Shanghai Municipal Investment’s U.S. arm is partnering with Ceruzzi, and the team is planning to follow through with applications filed back in 2014, which call for a 71-story mixed-use tower.



250 West 49th Street

Air Rights Assembled For 24-Story, 246-Key Hotel At 250 West 49th Street, Midtown

The Hakimian Organization, partnered with Gorjian Properties, is acquiring 16,000 square feet of air rights for their planned 24-story, 246-key hotel building at 250 West 49th Street, in Midtown’s Theater District. The existing eight-story building is to be converted into the hotel’s lower portion, while a 16-story expansion will be placed on top, topping out at 279 feet in height. The 94,850 square-foot structure will also feature retail on the ground floor. Gillman Consulting Inc. is the applicant of record.


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