The last time YIMBY checked in on Ceruzzi Properties’ 138 East 50th Street in late August, the residential tower had just climbed past its 40th floor. Now, construction appears to have reached the parapet, 800 feet and 63 floors above the Midtown streets below, as seen in the latest update from Tectonic.
Back in 2015, YIMBY revealed the renderings for a new development coming to the corner of 86th Street and Lexington Avenue, with an official address of 147 East 86th Street. In February of 2016, building applications were filed for the site, and now, demolition is complete on the old Petco, paving the way for construction to begin on the project.
The blocks surrounding the intersection of 50th Street and Lexington Avenue contain some of the densest real estate in all of Manhattan. Nothing makes that more evident than the new skyscraper being developed by Ceruzzi Properties at 138 East 50th Street, which will eventually stand 800 feet to its rooftop. The latest photos from Tectonic show that the tower has now passed its 40th floor, yet it will still take another few months before it begins to become visible on the Midtown skyline.
Back at the end of 2014, YIMBY reported on the first permits for Ceruzzi Properties’ new tower at 520 Fifth Avenue, on the corner of West 43rd Street. The building will rise 71 floors and 920 feet to its roof, with a design by Handel Architects that YIMBY can now reveal thanks to eagle-eyed Forum user YIM_Hudson.
Excavation work is nearly complete and construction has started on the foundation of the planned 63-story, 124-unit mixed-use building at 138 East 50th Street, in Midtown East. The latest photo was captured by YIMBY Forums user ILNY/NY Construction Photography. The most recent building permits indicate the project will rise 803 feet above street level and measure 253,222 square feet. There will be 4,588 square feet of retail space across the cellar and ground floors. The residential units, condominiums, should average 1,706 square feet apiece. The number of units listed on permits, 124, is up quite a bit from what YIMBY reported a year ago, 91, when renderings were revealed. Ceruzzi Properties is the developer and Pelli Clarke Pelli Architects is the design architect. SLCE Architects is the architect of record. Completion in 2018 is probable.