The blocks surrounding the intersection of 50th Street and Lexington Avenue contain some of the densest real estate in all of Manhattan. Nothing makes that more evident than the new skyscraper being developed by Ceruzzi Properties at 138 East 50th Street, which will eventually stand 800 feet to its rooftop. The latest photos from Tectonic show that the tower has now passed its 40th floor, yet it will still take another few months before it begins to become visible on the Midtown skyline.
Pelli Clarke Pelli
The 41-story, 977,745-square-foot mixed-use tower known as 3 Park Avenue, located between East 33rd and 34th streets in Midtown South, is set to receive a $30 million renovation. The 556-foot-tall tower’s lobby will be redesigned, the exterior will be modernized, and its 25,000 square feet of retail will see renovations. Other aspects of the project include renovations to the hallways and common areas, and upgraded mechanical infrastructure, Commercial Observer reported. Pelli Clarke Pelli Architects is designing the renovation, with AREA Architects responsible for redesigning the lobby.
The site at 68-74 Trinity Place has been one of the more notable recent demolitions in the Financial District, with the building coming down over the course of the past year. The site’s owner, Trinity Church, had previously planned a condominium building designed by Pelli Clarke Pelli. While those plans were shelved earlier this year, we now have new renderings of what will replace it.
In October of 2015, the Port Authority of New York & New Jersey (PANYNJ) approved a multi-billion-dollar redevelopment plan to build a new Port Authority Bus Terminal, located on the site of the existing one between West 40th and 42nd streets along Eighth Avenue. The design competition has since narrowed down to five finalists, Crain’s reported.
Excavation work is nearly complete and construction has started on the foundation of the planned 63-story, 124-unit mixed-use building at 138 East 50th Street, in Midtown East. The latest photo was captured by YIMBY Forums user ILNY/NY Construction Photography. The most recent building permits indicate the project will rise 803 feet above street level and measure 253,222 square feet. There will be 4,588 square feet of retail space across the cellar and ground floors. The residential units, condominiums, should average 1,706 square feet apiece. The number of units listed on permits, 124, is up quite a bit from what YIMBY reported a year ago, 91, when renderings were revealed. Ceruzzi Properties is the developer and Pelli Clarke Pelli Architects is the design architect. SLCE Architects is the architect of record. Completion in 2018 is probable.