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.
The Related Companies has released new renderings and a new name for Thomas Heatherwick’s High Line project at 515 West 18th Street: Lantern House. The pair of residential structures is located along Tenth Avenue between West 18th Street and West 19th Street and flanks both sides of the High Line, which has seen a dramatic transformation from new construction over the past decade. The development is Heatherwick’s first residential project in New York City and in the United States. SLCE Architects is the architect of record.
Work is underway at 842 Sixth Avenue in NoMad, where the world’s tallest modular hotel will soon rise. Designed by Danny Forster & Architecture, the 26-story building will house the AC NoMad Hotel by Marriott International and will eclipse the Lower East Side’s citizenM New York Bowery Hotel for the record. Concord Hospitality is the developer of the 100,000-square-foot project, which will contain 168 guest rooms, terraces, and a rooftop bar.
Klövern and GDS Development recently broke ground on a new Manhattan boutique office project in Chelsea, called 28 & 7. Skidmore Owings & Merrill is the designer of the 12-story, class A office structure, which is located at 322-326 Seventh Avenue and is one of three properties that the two developers are working together on in New York City. Klövern is aiming to bring a more Scandinavian-inspired approach to the office market with higher sustainability standards and a more “human-scaled” design approach.
Tishman Speyer and the United States Post Office have concluded negotiations to redevelop the upper floors of a historic postal facility into a dynamic office complex above West Chelsea. Known as the Morgan North Postal Facility, the building was originally completed in 1933 and encompasses an entire city block from Ninth to Tenth Avenue and 29th to 30th Streets.