Midtown

Financing Secured For 16-Story, 618-Key Hotel Conversion At 485 Seventh Avenue, Garment District

4:00 pm on January 18, 2016 By Reid Wilson

In March of 2015, the Landmarks Preservation Commission approved alterations that would go into converting the 16-story, 235,000 square-foot office building at 485 Seventh Avenue, at the corner of West 36th Street in the Garment District, into a boutique hotel. The property, an individual landmark, was completed in 1907 as the Mills Hotel No. 3, a male-exclusive, 1,885-unit single-room occupancy residential hotel. The Lightstone Group is planning to convert the property into a 618-key MOXY Hotel by Marriott, and Commercial Observer reports $330 million in financing was secured for the project. Retail space and a restaurant will be located each on the ground and second floors. Stonehill & Taylor Architects is the architect of record.

Developer Begins Demolition At Fifth Avenue-West 46th Street Assemblage, Midtown

6:30 am on January 18, 2016 By Reid Wilson

Gary Barnett’s Extell Development is moving forward with an unknown project on the corner of Fifth Avenue and West 46th Street, in Midtown’s Diamond District. Curbed NY reports the developer recently filed demolition permits for six five-story commercial buildings spanning 3-13 West 46th Street. The row of buildings are currently masked with black netting, which means demolition should begin soon.

Work at 38 West 33rd Street. Photo by Tectonic.

Scope Grows As Construction Underway At Torkian Group Project On West 33rd Street, Midtown South

7:00 am on January 15, 2016 By Evan Bindelglass

It was way back in September of 2014 that YIMBY reported on filings for a new residential building at 38-46 West 33rd Street (a.k.a. 38 West 33rd Street), in Midtown South. Then in June of 2015, we revealed a rendering of the project. In September, the Torkian Group development got financed by a $105 million loan. Now, the project’s scope is slightly bigger and construction is underway, which we can see in a pair of photos sent to us by our friend Tectonic.

63-Story, 94-Unit Residential Tower Tops Out At 100 East 53rd Street, Midtown East

1:00 pm on January 14, 2016 By Reid Wilson

RFR Realty’s 63-story, 94-unit luxury residential tower at 100 East 53rd Street has been rising since early last year, with in-depth renderings of it being revealed later that fall. The tower has since topped out at 711 feet above street level, according to Curbed. Units will come in one-, two-, three-, and four-bedroom configurations, and one of the two four-bedroom duplexes will be a 6,517 square-foot penthouse. The first two floors will house a food court and a restaurant, and floors three and four will host amenities. Hines and Vanke are partnered with RFR, and Foster + Partners is the design architect. William T. Georgis is designing the interiors and SLCE Architects is serving as the architect of record. Completion is expected in early 2017.

25,000 Square-Feet Of Retail Planned In Hotel-Condo Conversion Of Sony Tower, 550 Madison Avenue, Midtown

3:00 pm on January 12, 2016 By Reid Wilson

Early last month, the first rendering surfaced of Chetrit Group’s planned hotel-condo conversion of the 37-story, 855,000 square-foot office building at 550 Madison Avenue, between East 55th and 56th Streets in Midtown. Sony Tower’s 14th through 20th floors will be converted into a 170-key and will be operated by Oetker Collection Masterpiece Hotels. The 21st through 43rd floors will be converted into 113 condominiums, but Real Estate Weekly now has details on the three stories of redesigned retail at the bottom of the building. The retail space, formerly occupied by Sony, will measure 25,451 square feet in total and will be split into four separate leases. Robert A.M. Stern is designing, and completion of the conversion is expected in early 2018.

Why 2016 Will Be the Manhattan Skyline’s Biggest Year Ever

8:00 am on January 11, 2016 By Nikolai Fedak

The rise of the supertalls has been several years in the making, and One57, 432 Park Avenue, and One World Trade Center have offered a preview of the increasingly gargantuan changes taking place across New York City. But 2016 will mark the start of a new era for the city’s skyline. With six supertalls of 300 meters (984 feet) or greater now rising, the city’s total number of such buildings will nearly double, from seven to thirteen. Yesterday, the New York Post featured YIMBY’s compilation of the towers, and today we wanted to give our own rundown on the image and its implications for our continually-changing city.

What Notable NYC Buildings Were Demolished in 2015?

4:30 pm on January 8, 2016 By Vitali Ogorodnikov

In 2015, New York’s landmarks law turned 50 years old. Events and discussion panels were held across the city throughout the year. The Museum of the City of New York held the commemorative Saving Place exhibit. As YIMBY reported, six individual landmarks and four historic districts were designated during this period. However, last year also saw its fair share of demolitions. Here, we look back at a small selection from the dozens of buildings that met the wrecking ball over the course of 2015. These eight structures range from architectural masterpieces to eyesores and span across a variety of decades, styles, and uses – as diverse as the Big Apple’s built environment itself.

1.2-Million Square-Foot Expansion Of Jacob K. Javits Center Revealed, Far West Side

6:30 am on January 8, 2016 By Reid Wilson

Gov. Andrew Cuomo has revealed plans to expand the Jacob K. Javits Center, located at 655 West 34th Street on the far West Side, by 1.2 million square feet, Curbed reports. The already enormous convention center sits bound between Eleventh and Twelfth Avenues between West 34th and 39th Streets. With the expansion, the facility would measure 3.3 million square feet in total, 665,000 square feet of which would include brand-new meeting rooms and an exhibition hall. Some of the other additions would be a 58,000 square-foot ballroom, 22,000 square feet of outdoor event space, and a 633,000 square-foot truck garage.

State Moves Forward With Penn Station Renovations & Moynihan Station Plans

10:00 am on January 7, 2016 By Reid Wilson

Gov. Andrew Cuomo is preparing to issue a request-for-proposals later this week to renovate and upgrade Pennsylvania Station, located under Madison Square Garden on Eighth Avenue between West 31st and 33rd Streets. According to the Observer, the project is part of the $26 billion investment in the Metropolitan Transportation Authority (MTA), with the state contributing $8.3 billion. Multiple plans for a new entrance have already been put forth, one of which involves the demolition of the MSG Paramount Theater in replace of a glass enclosure, seen in these latest renderings.

Top 13 Floors Of 63-Story MiMa Tower To Be Converted Into 151 Condominiums

2:00 pm on January 6, 2016 By Reid Wilson

Kuafu Properties and Shanghai Construction Group’s U.S. branch have closed on the purchase of floors 51 through 63 in MiMa, the 63-story luxury rental tower located at 660 West 42nd Street, in Hell’s Kitchen, for $260.8 million. According to Commercial Observer, the developers plan to convert those floors’ 151 rental units into an equal number of condominiums under the name of 1 MiMa. The remaining 663 rental units in the building, under ownership by Related Companies and TIAA-CREF, will not be touched. Residents in 1 MiMa will have access to the tower’s 44,000 square feet of amenities and will have an exclusive entrance. A $211.6 million loan was secured for the acquisition.

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Midtown

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