Construction is approaching the final floors at 249 East 50th Street, a 151-foot-tall residential building in Midtown East. The 15-story structure is designed by Issac and Stern and developed by Tun Kyaw, who purchased the land for $17 million.
Amazon has officially acquired the historic Lord & Taylor Building at 424 Fifth Avenue in Midtown, Manhattan. Although Amazon and WeWork, the building’s former owner, have not released any statements on the deal, the transaction is reportedly valued between $978 million and $1.15 billion.
When it comes to new development in New York City, one of the most prolific and notable of the current firms in existence is The Durst Organization, which previously led the construction of One World Trade Center in a public-private partnership with The Port Authority. YIMBY recently interviewed its eponymous head, Douglas Durst, who gave updates on the firm’s major new Long Island City project, dubbed Sven, as well as a range of other topics.
Work is continuing on The Fifth Avenue Hotel, an addition and renovation at 250 Fifth Avenue in NoMad. Designed by Perkins Eastman, PBDW Architects, and Martin Brudnizki Design Studio and developed by Flaneur Hospitality, the project involves the construction of a 230-foot-tall, 24-story structure and the renovation and conversion of an adjacent 115-year-old bank building designed by McKim, Mead & White.
Excavation is getting deeper at 451 Tenth Avenue in Hudson Yards, site of a 580-foot-tall mixed-use skyscraper from Handel Architects. Bryan Cho of Related Companies filed permits in early June 2019 for the 44-story building, which will rise directly to the north of 66 Hudson Boulevard, Bjarke Ingels‘ supertall known as The Spiral. A great deal of earth has been excavated from the lot, a former parking lot located between West 35th and 36th Streets and Tenth Avenue and Hudson Boulevard. Spitzer Enterprises is co-developing alongside Related.