360 Park Avenue South, a newly renovated 450,000-square-foot office tower in Midtown, Manhattan, recently welcomed Time and Tide, a new restaurant on the building’s ground floor. The property was developed by BXP. Modellus Novus, an architecture and design firm, is behind the new restaurant space’s design.
Construction has topped out on 520 Fifth Avenue, an 88-story residential supertall in Midtown, Manhattan. Designed by Kohn Pedersen Fox and developed by Rabina, the 1,002-foot-tall structure will span 415,000 square feet and yield 100 condominium units, a residents-only amenity floor on level 88, 25 boutique office floors, a private members-only club called Moss, and four cellar levels. The property is located at the corner of Fifth Avenue and West 43rd Street, one block north of Bryant Park.
The Vessel has officially reopened to the public in Hudson Yards, Manhattan following the completion of safety modifications to the beleaguered attraction. Designed by Thomas Heatherwick of Heatherwick Studio and developed by Related Companies, the 15-story honeycomb of staircases stands 150 feet tall as the centerpiece of the first phase of Hudson Yards, and originally opened along with the complex in March 2019. However, access to the attraction was shuttered in July 2021 following a string of suicides from its elevated platforms. Earlier this year, work began on a safety system consisting of steel mesh netting stretched between the openings in the structure, and the revamped attraction is now back to operation.
Work is complete on Pier 97, a 2.5-acre public park along the Hell’s Kitchen waterfront in Manhattan. The park was designed by !melk Landscape Architecture and Urban Design and developed by the Hudson River Park Trust and celebrated its official opening on October 15 with a ribbon cutting ceremony. Originally built between 1921 to 1934, Pier 97 served as a shipping hub for the Swedish America Line until the 1970s and later as a parking lot for the City of New York Department of Sanitation. The pier is located directly off West 57th Street.
Tishman Speyer recently secured a $3.5 billion loan to refinance Rockefeller Center in Midtown, Manhattan. The loan is the largest-ever CMBS issued for a single office asset. Bank of America and Wells Fargo co-led the five-year single asset single borrower loan, which carries a fixed interest rate of 6.2265 percent. The funds will be used to pay off an existing $1.7 billion loan and mezzanine financing due in May 2025, as well as cover leasing costs.
