The affordable housing lottery has launched for River Place, a 40-story residential building at 650 West 42nd Street in Midtown West, Manhattan. Built in 1999, the structure yields 921 units. Available on NYC Housing Connect are 47 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $38,743 to $167,570.
Construction is continuing to rise on 150 West 48th Street, a 330-foot tall, 38-story Hilton hotel in Times Square. Designed by Gene Kaufman Architect and developed by Sam Chang of McSam Hotel Group, the 320,000-square-foot structure will yield 1,048 hotel rooms, up from the previous reported count of 974, making it the ninth-largest hotel in New York City. McSam Hotel Group purchased the site from Rockefeller Group in early 2019 for $140 million, and received a $250 million construction loan before work broke ground in 2020. Omnibuild is in charge of constructing the hotel.
Exterior work is progressing on 165 Lexington Avenue, an 11-story residential building in Kips Bay, Manhattan. Designed by Isaac & Stern Architects and developed Brooklyn North Capital and Riverbrook Equities, the 58,630-square-foot structure will yield 43 condominium units in studio to two-bedroom layouts, averaging 918 square feet. DNArc Design Studio is in charge of the interiors and The Serhant Team and Nestseekers International are responsible for sales and marketing for the property, which is situated along Lexington Avenue between East 30th and 31st Streets.
295 Fifth Avenue in Midtown South will soon receive a $350 million redevelopment at the hands of Tribeca Investment Group, PGIM Real Estate, and Meadow Partners. The full-block, 16-story “Textile Building” will have 700,000 square feet of updated office space. Studio Architecture is responsible for the design and CBRE is handling marketing.
New renderings have been revealed for 495 Eleventh Avenue, a pair of residential skyscrapers in Midtown, Manhattan. Located between West 39th and 40th Streets directly next to the Jakob K. Javits Center expansion, the two towers will stand 680 feet tall and 57 stories, and 653 feet tall and 56 stories. The site currently functions as a parking lot for the New York Police Department. FXCollaborative and Gwathmey Siegal Kaufman Architects are the designers responsible for the work.
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