L&L Holdings and GreenOak Real Estate have landed a $556 million construction loan for their 47-story, 893-foot-tall office building planned at 425 Park Avenue, in Midtown East. The developers are expanding the existing 32-story building office building to accommodate 670,000 square feet of modern office space. Partial demolition begins this month, and the building is scheduled to open in 2018.
All permits for construction at 425 Park Avenue have been approved, and work may begin shortly; the existing building is being partially demolished to make way for 42 stories of offices, designed by Norman Foster….
After launching a competition for the redesign of 425 Park Avenue–almost across street from the future 432 Park Avenue–L&L Holdings has chosen Lord Norman Foster’s tower as the winner. Several ‘starchitects’ competed in the contest…