Early last month, the first rendering surfaced of Chetrit Group’s planned hotel-condo conversion of the 37-story, 855,000 square-foot office building at 550 Madison Avenue, between East 55th and 56th Streets in Midtown. Sony Tower’s 14th through 20th floors will be converted into a 170-key and will be operated by Oetker Collection Masterpiece Hotels. The 21st through 43rd floors will be converted into 113 condominiums, but Real Estate Weekly now has details on the three stories of redesigned retail at the bottom of the building. The retail space, formerly occupied by Sony, will measure 25,451 square feet in total and will be split into four separate leases. Robert A.M. Stern is designing, and completion of the conversion is expected in early 2018.
The rise of the supertalls has been several years in the making, and One57, 432 Park Avenue, and One World Trade Center have offered a preview of the increasingly gargantuan changes taking place across New York City. But 2016 will mark the start of a new era for the city’s skyline. With six supertalls of 300 meters (984 feet) or greater now rising, the city’s total number of such buildings will nearly double, from seven to thirteen. Yesterday, the New York Post featured YIMBY’s compilation of the towers, and today we wanted to give our own rundown on the image and its implications for our continually-changing city.
When a century-old hotel at 6 Columbus Circle hit the market last month, sources told the Commercial Observer that the relatively small site could fetch $88.9 million. Now YIMBY has renderings of a 700-foot-tall mixed-use tower that could grow on the lot along West 58th Street between Eighth and Ninth Avenues.
Gov. Andrew Cuomo is preparing to issue a request-for-proposals later this week to renovate and upgrade Pennsylvania Station, located under Madison Square Garden on Eighth Avenue between West 31st and 33rd Streets. According to the Observer, the project is part of the $26 billion investment in the Metropolitan Transportation Authority (MTA), with the state contributing $8.3 billion. Multiple plans for a new entrance have already been put forth, one of which involves the demolition of the MSG Paramount Theater in replace of a glass enclosure, seen in these latest renderings.
Sam Chang’s Great Neck-based McSam Hotel Group has filed applications for a 22-story, 162-key hotel at 16 East 39th Street, in Midtown South, located a few blocks from Bryant Park and Grand Central Terminal. The building would measure 73,073 square feet in its entirety, and 66,328 square feet would be used for hotel operations. The hotel rooms would each measure an average of around 400 square feet and a lounge would be located on the top floor. SoHo-based Gene Kaufman is the architect of record. The existing 12-story, thru-block office building was subdivided into separate tax lots in October, so we’re guessing only the the 39th Street half of the building is going to be demolished, along with an adjacent three-story townhouse at 14 East 39th Street. According to The Real Deal, the properties are currently owned by ClearRock Properties and Juster Properties.