Construction is complete on Park House, an eight-story residential building at 500 West 22nd Street in West Chelsea. Designed by Annabelle Selldorf of Selldorf Architects and developed by Brantwood Capital, the 33,662-square-foot structure yields ten residential units and 1,959 square feet of ground-floor retail space. Compass is handling sales and marketing for the one- to four-bedroom homes and two duplex penthouses, with pricing ranging from $2.65 million to $12 million. Foundations Group served as the general contractor for the property, which is alternately addressed as 197 Tenth Avenue and stands at the corner of Tenth Avenue and West 22nd Street, a short walk from the High Line.
Newmark, a global real estate services company, has successfully arranged $175 million in capitalization to facilitate a major renovation of 45 East 53rd Street in Midtown, Manhattan. Located in the Plaza District, the building once operated as the New York headquarters for Santander Bank, but sold in April to ZG Capital and Rialto Capital Management.
Excavation is set to begin at 417 Park Avenue, site of a 220,000-square-foot office tower in Midtown East. The project is being developed by GDS Development (GDSNY) and Klövern AB, which acquired the property for $184 million and are also building on an adjacent plot to the south at 409 Park Avenue. The plot is located at the corner of Park Avenue and East 55th Street and will rise with a floor area ratio of 25 under the Midtown East Rezoning regulations.
Construction is complete and occupancy has begun at the RIU Plaza Hotel, 48-story skyscraper at 145 West 47th Street in Times Square. Designed by Berg + Moss Architects and developed by Tribeach Holdings, the 519-foot-tall structure yields 353,000 square feet and 630 rooms. Transom Builders Group served the general contractor for the property, which is located between Sixth and Seventh Avenues, a short walk from the heart of Times Square at the intersection of Broadway and Seventh Avenue.
Renovation work is moving along on the lower floors of Lever House, a landmarked International Style commercial tower at 390 Park Avenue in Midtown East. Designed by Skidmore, Owings & Merrill and developed by WatermanClark, Brookfield Properties, Higgins Quasebarth & Partners, Integrated Conservation Resources, and Integrated Conservation Contracting, the $100 million project involves an overhaul of the public plaza, renovations to the main lobby, improvements to the ventilation and sustainability systems, and the addition of new amenity spaces. Pavarini McGovern is the general contractor for the property, which is located along Park Avenue between East 53rd and East 54th Streets.