It has been several months since YIMBY last checked on 45 Park Place, a soon-to-be 45-story, 667-foot residential tower rising in the blocks just below Tribeca. Now, the building is nearing the halfway mark. It is already surpassing adjacent structures that have hidden ongoing progress since the project began to vertically take off this year. The site is being developed by Sharif el-Gamal’s Soho Properties, and will have a substantial presence on the changing skyline by the end of the decade.
After years of waiting, 45 Park Place is finally making a rapid ascent into the Lower Manhattan skyline. The skyscraper will soon rise 43 stories and 667 feet to its rooftop pinnacle, and is being developed by Sharif el-Gamal’s Soho Properties. Although substantially shorter than nearby towers like 30 Park Place, 56 Leonard Street, and 111 Murray Street, the 50-unit structure will still offer comprehensive views of Tribeca to the north, Brooklyn, the Manhattan Bridge, and City Hall to the east, and the World Trade Center, immediately to the south.
Margaritaville is suddenly going to be substantially more accessible to New Yorkers. An eponymous holding company has announced they will open a branded “Margaritaville” hotel at 560 Seventh Avenue, on 7th Avenue and 40th Street, in Times Square, Manhattan. The plan is to build a 29-story hotel with retail space, a three-story restaurant, pool, and rooftop LandShark Bar. Sharif El-Gamal’s Soho Properties is responsible for the development, partnering with the non-union Chip, Andrew Weiss, and MHP Real Estate Services.
With verticality possibly imminent at 45 Park Place, on the edge of the Financial District and Tribeca, Sharif El-Gamal of Soho Properties has now filed applications for a neighboring community facility, at 51 Park Place. Scott Newman of Cooper Robertson is listed as the architect, and the plans seem to be an updated version of the site’s former mosque, which was demolished back in 2011 to make way for the new residential tower.
One block west of Downtown’s tallest residential building at 30 Park Place, another condominium tower is finally getting ready to rise. YIMBY reported on 45 Park Place’s initial building applications back in May of 2014, but it has taken three years to navigate both planning and financing. Now, foundation work is making headway, signaling the skyscraper should begin its ascent within the next few months.