Tribeca Investment Group, Meadow Partners, and PGIM Real Estate have secured $150 million in construction financing to complete a commercial modernization project at 295 Fifth Avenue in Midtown, Manhattan. Construction recently completed on a penthouse addition, bringing the structure to 19 stories and 710,000 square feet.
Rounding out our Turkey Week rundown of stalled projects is Three Hudson Boulevard, a planned 56-story commercial skyscraper in the Hudson Yards district. Designed by FXCollaborative and developed by Boston Properties and The Moinian Group, the $3 billion project is planned to stand around 940 feet tall and yield 1.86 million square feet of office space, but has been on hold since early 2020. The plot occupies a full block bound by West 35th Street to the north, West 34th Street to the south, Bella Abzug Park to the east, and Eleventh Avenue to the west.
The new public plaza at 550 Madison Avenue, a 37-story commercial skyscraper in Midtown East, is now open. Designed by Snøhetta, the landscape architect for the garden and the design architect for the tower repositioning, and developed by The Olayan Group and RXR Realty, the new privately owned public space (POPS) is enclosed with a 70-foot-tall steel-framed glass canopy and is part of a larger renovation of the Philip Johnson-designed postmodern landmark, along with a revamped lobby designed by Gensler. AECOM Tishman was the general contractor for the 21,000 square feet of renovations at the property, which is located between East 55th and 56th Streets.
Last week, YIMBY attended a special unveiling of the amenity spaces at 111 West 57th Street, a 1,428-foot residential supertall on Billionaires’ Row in Midtown. Designed by SHoP Architects and developed by JDS Development Group, Property Markets Group, and Spruce Capital Partners, the 84-story skyscraper yields 60 units and incorporates the restored Steinway Hall, the landmarked former showroom of the Steinway & Sons piano company. Corcoran Group is the exclusive sales and marketing representative for the property, which is located between Sixth and Seventh Avenues. Available residences range from $7,750,000 to $66,000,000.
Façade installation is moving along on 131-141 East 47th Street, a 34-story residential skyscraper in Midtown East. Designed by Ismael Leyva Architects and developed by Hopson Development Holdings, the 500-foot-tall structure will yield 191 condominium units in studio to two-bedroom layouts, as well as 5,000 square feet of ground-floor retail space. Structure Tech New York and Cauldwell Wingate are in charge of constructing the tower, which is located between Lexington and Third Avenues.
