Macklowe Properties

One Wall Street’s Residential Conversion and Retail Addition Progresses in Financial District

The residential conversion and retail addition at One Wall Street continues to take shape in the Financial District. Designed by SLCE Architects and developed by Macklowe Properties, the projected $1.5 billion undertaking is the largest office-to-condominium conversion in New York City history. In addition to the creation of 566 residential units with sales handled and marketed by CORE, the project will also add a 44,000-square-foot Whole Foods Market and a Life Time fitness center to the lower levels of the building.

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

Demolition Prep Begins for Macklowe’s 1,556-Foot-Tall Tower Fifth, in Midtown

Demolition preparations appear to have begun for Tower Fifth, a proposed 1,556-foot-tall office skyscraper by Macklowe Properties. Located along East 51st Street between Madison Avenue and Fifth Avenue, and directly to the north of St. Patrick’s Cathedral, the 96-story supertall would be the tallest structure by roof height in the city, eclipsing Extell‘s Central Park Tower by six feet. YIMBY last reported that the project team had successfully negotiated a $192 million refinancing package from Fortress Investment Group. The $1 billion development is planned to span two plots of land, 5 East 51st Street and 12 East 52nd Street.

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One Wall Street’s Whole Foods Market Retail Space Continues Taking Shape in Financial District

The residential conversion of One Wall Street is continuing above the streets of the Financial District and is the largest office-to-condominium conversion project in New York City real estate history. Down at street level, work is moving along on the upcoming 44,000-square-foot Whole Foods Market that will open at the corner of Broadway and Exchange Place. The glass curtain wall addition protrudes from the mid-20th century annex of the property and will also include a Life Time fitness center on the second floor. SLCE Architects is the architect of record, and Macklowe Properties is the developer of the $1.5 billion project. CORE is handling sales and marketing of the planned 566 residential units above the new retail space.

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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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One Wall Street’s Residential Conversion and Addition Continues in Financial District

Work is moving along at One Wall Street, the largest office-to-condominium conversion project in New York City real estate history. The Financial District building has been steadily making progress with its interior makeovers, including the soaring oxblood and orange-colored walls and ceilings of the historic Red Room. Meanwhile, the glass curtain wall for the retail addition on the lower levels, as well as the multi-story addition atop the mid-century annex are becoming more prominent. SLCE Architects is the architect of record, and Macklowe Properties is the developer of the $1.5 billion project. CORE is handling sales and marketing of the planned 566 residential units.

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