Fortress Investment Group

TSX Broadway Demolition Passes Halfway Mark in Times Square

Demolition is moving along steadily at 1568 Broadway in Times Square, where the 46-story tower has been reduced to around half its former size. The 30-year-old, 470-foot-tall steel superstructure formerly housed the DoubleTree Suites by Hilton and will be replaced by a new hotel dubbed TSX Broadway. Designed by PBDW ArchitectsMancini Duffy, and Perkins Eastman, and developed by L&L Holding CompanyMaefield Development, and Fortress Investment Group, the new structure will rise 46 stories and span 550,000 square feet.

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Demolition Steadily Progressing at 1568 Broadway, Future Home of TSX Broadway, in Times Square

Demolition work is moving along on 1568 Broadway, a 30-year-old, 470-foot-tall tower in Times Square that formerly housed the DoubleTree Suites by Hilton. Nearly 75 percent of the building will be razed to create a new 46-story mixed-use property dubbed TSX Broadway. Designed by PBDW Architects, Mancini Duffy, and Perkins Eastman, and developed by L&L Holding CompanyMaefield Development, and Fortress Investment Group, the site sits in the heart of Times Square at the corner of Seventh Avenue and West 47th Street.

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Tower Fifth, rendering by TMRW via Gensler / the NY Times

Macklowe Properties Lands $192 million Refinancing for Tower Fifth Supertall

Macklowe Properties recently negotiated a refinancing package to the tune of $192 million for Harry Macklowe’s three Midtown parcels. Two of the lots, 5 East 51st Street and 12 East 52nd Street, could be the home of Tower Fifth, a 1,556-foot-tall office tower and New York City’s future tallest building by roof height. The refinancing from Fortress Investment Group also includes the 17 East 47th Street site and a new $50 million mortgage replacing a $124 million loan.

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Black Construction Netting Shrouds 1568 Broadway for Imminent Demolition in Times Square

Preparation for the demolition of 1568 Broadway is continuing to gear up as scaffolding and construction netting now shroud almost the entire 46-story Times Square tower. The 29-year old structure served as a DoubleTree hotel and will be replaced by a new hotel, with tenants yet to be announced. The proposed 550,000-square-foot development is called TSX Broadway and will preserve and lift the 106-year-old Palace Theatre three stories above the ground floor to make way for new retail space. The $2.5 billion project is being developed by L&L Holding CompanyMaefield Development, and Fortress Investment Group.

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