West 39th Street between Eighth and Ninth Avenues in the Garment District already has four hotels, with another two in the works. But one builder has decided to buck the trend by filing applications for a residential development on the block, at 355 West 39th Street.
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.
Last week, hotel developer Sam Chang filed plans for a 25-story hotel at 338 West 39th Street, between Eighth and Ninth Avenues. Now he has another hotel in the works next door at 342 West 39th Street.
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.
In April, YIMBY revealed the Pestana Hotel planned for 338 West 39th Street, the latest commercial venture from prolific hotelier Sam Chang. Now new building applications have been filed to erect a 25-story hotel on the lot between Eighth and Ninth Avenues.
