L&L Holdings and GreenOak Real Estate have landed a $556 million construction loan for their 47-story, 893-foot-tall office building planned at 425 Park Avenue, in Midtown East. The developers are expanding the existing 32-story building office building to accommodate 670,000 square feet of modern office space. Partial demolition begins this month, and the building is scheduled to open in 2018.
Vornado Realty Trust has acquired the low-rise retail building at 144-150 West 34th Street, in Midtown South, for $355 million from a partnership between Starwood Capital Group and Crown Acquisitions. The three-story, 78,000 square-foot building is leased by Old Navy; their lease expires in five years, and the property boasts 300,000 square feet of commercial building rights if redeveloped.
Last week, YIMBY revealed the exteriors for 1 Park Lane, which has an actual address of 36 Central Park South, the site of the current Helmsley Park Lane. While we speculated that Vinoly designed the building, we learned that Handel Architects was in fact behind the renderings; we have also obtained a new set of images which include that version of the project’s interiors and views, which will be very impressive.
YIMBY noted construction beginning in January 2014 at 11 East 31st Street, in Midtown South, where Simone Development Group is developing a mid-rise boutique hotel, with partners KSNY and Geolo Capital. The building is near topping out and has begun to receive its façade, according to A Fine Blog. Dubbed the Tommie Hotel, the tower is now expected to stand 30 stories, accommodating 120 hotel units across 108,120 square feet. Gwathmey Siegel Kaufman Architects is designing, and completion is expected in 2016.
Yesterday, YIMBY revealed the exteriors for 1 Park Lane, which has an actual address of 36 Central Park South, the site of the current Helmsley Park Lane. While we speculated that Vinoly was behind the renderings, we have now learned that Handel Architects is in fact behind the design, which is unsurprising considering the supertall does resemble a vertically extruded take on the Trump Soho (another Handel project). The 1,210-foot tall building will have 88 condominiums, and completion is expected by 2020.
