New renderings have been revealed for The Rolex Building, a 30-story office tower nearing completion at 665 Fifth Avenue in Midtown, Manhattan. Designed by David Chipperfield Architects and developed by the Rolex Realty Company, the 469-foot-tall structure will bring 165,000 square feet of office and retail space to the southeast corner of Fifth Avenue and East 53rd Street.
Naftali Credit Partners has closed a $203 million loan for an office-to-residential conversion of 221 West 41st Street, a 25-story building in Midtown, Manhattan. The financing was structured for Yellowstone Real Estate Investments and marks the tenth deal from Naftali Credit Partners’ second opportunistic debt fund. According to the announcement, the loan will refinance existing bridge debt and cover construction-related costs tied to the office-to-residential conversion. The property is located between Seventh and Eighth Avenues.
New renderings have been revealed for the proposed 29-story office-to-residential conversion and vertical expansion of 609 Fifth Avenue in Midtown East, Manhattan. Designed by Rafael Viñoly Architects and developed in a joint venture between RJ Capital Holdings and Top Rock Holdings, the project would more than double the height of the existing 14-story office structure from 187 feet to 408 feet tall and increase its square footage by 93,000 to nearly 226,000 square feet. The revamped building is slated to yield 66 condominium units. The property is alternately addressed as 4 East 49th Street and located at the southeast corner of Fifth Avenue and East 49th Street.
Vertical progress is underway on 70 Hudson Yards, a 52-story commercial skyscraper in Hudson Yards, Manhattan. Designed by Roger Ferris + Partners and Gensler and developed by Related Companies and Oxford Properties, the 832-foot-tall structure is planned to become New York’s first zero-carbon-emission skyscraper and will yield just under 1.4 million square feet of office space. The property is alternately addressed as 514 West 36th Street and located along Hudson Boulevard East between by West 35th and 36th Streets.
Permits have been filed for a 32-story mixed-use building at 30 West 37th Street in Midtown South, Manhattan. Located between Fifth and Sixth Avenues, the interior lot is near the 42nd Street–Bryant Park subway station, served by the B, D, F, and M trains. Jack Yadidi of Fy & Sons TIC LLC is listed as the owner behind the applications.
