Amazon has officially acquired the historic Lord & Taylor Building at 424 Fifth Avenue in Midtown, Manhattan. Although Amazon and WeWork, the building’s former owner, have not released any statements on the deal, the transaction is reportedly valued between $978 million and $1.15 billion.
Construction is now one floor above street level at 555 West 38th Street, a 570-foot-tall residential skyscraper in Hudson Yards. Designed by Pelli Clarke Pelli Architects and developed by Rockrose with SLCE as the architect of record, the 52-story tower will yield 598 rental units and is located directly across Eleventh Avenue from the Jacob K. Javits Center.
When it comes to new development in New York City, one of the most prolific and notable of the current firms in existence is The Durst Organization, which previously led the construction of One World Trade Center in a public-private partnership with The Port Authority. YIMBY recently interviewed its eponymous head, Douglas Durst, who gave updates on the firm’s major new Long Island City project, dubbed Sven, as well as a range of other topics.
Metallic exterior façade panels now cover the entirety of the northern face of 12 East 48th Street, a 161-room Hilton Grand Vacation Hotel in Midtown East. Designed by Handel Architects and developed by Hidrock Realty, the slender reinforced concrete building is located between Madison Avenue and Fifth Avenue and is flanked by two low-rise structures.
Work is continuing on The Fifth Avenue Hotel, an addition and renovation at 250 Fifth Avenue in NoMad. Designed by Perkins Eastman, PBDW Architects, and Martin Brudnizki Design Studio and developed by Flaneur Hospitality, the project involves the construction of a 230-foot-tall, 24-story structure and the renovation and conversion of an adjacent 115-year-old bank building designed by McKim, Mead & White.