Marx Realty has announced an extensive renovation project at 545 Madison Avenue to modernize the Midtown office building. The scope of work includes an overhaul of the lobby, creation of pre-built tenant suites on the third and 14th floors, and the construction of 5,000 square feet of new amenity spaces. According to representatives from the company, total construction costs for the project hover around $24 million and represent the growing demand for offices with hospitality-oriented amenities.
Proposals to construct a new observation deck on the upper floors of the Chrysler Building have arrived for review by the Landmarks Preservation Commission. As promised by Aby Rosen, co-founder of RFR Holding and part-owner of the Midtown East icon, these plans comprise just one phase of his vision to invigorate interior spaces of the landmark at 405 Lexington Avenue with new restaurants, a food hall, and retail spaces.
Exterior work is progressing on 232 East 54th Street, a topped-out 420-foot-tall residential tower in Midtown East. Designed by Ismael Leyva Architects, the 40-story structure is located between Second and Third Avenues near a number of notable buildings such as the Lipstick Building at 885 Third Avenue and the 915-foot-tall Citigroup Center, aka 610 Lexington Avenue. YIMBY last reported that Elk Investors was listed as the exclusive developer of the building, though ownership may have fully transferred to Mossanen Group and an LLC known as East 54th St. Properties.
Demolition has begun for JP Morgan Chase‘s 52-story former headquarters at 270 Park Avenue, which was once known as the Union Carbide Building. The financial titan is razing the 707-foot-tall mid-century skyscraper to make way for a massive 1,425-foot-tall, 2.5-million-square-foot supertall that will be among the tallest structures in New York City.
YIMBY stopped by 303 East 44th Street in Midtown East, the site of a planned 600-foot-tall residential skyscraper from ODA Architects and Triangle Assets. Located along East 44th Street between First and Second Avenues, the 88,000-square-foot development is designed to yield roughly 44 condominiums spanning between 1,000 and 2,000 square feet apiece.