Macklowe Properties recently negotiated a refinancing package to the tune of $192 million for Harry Macklowe’s three Midtown parcels. Two of the lots, 5 East 51st Street and 12 East 52nd Street, could be the home of Tower Fifth, a 1,556-foot-tall office tower and New York City’s future tallest building by roof height. The refinancing from Fortress Investment Group also includes the 17 East 47th Street site and a new $50 million mortgage replacing a $124 million loan.
12 East 48th Street‘s distinctive metallic façade panels are making their way up the northern elevation of the 31-story Midtown East structure. Arranged in a staggered pattern surrounding floor-to-ceiling windows, the bold curtain wall will create a striking contrast with the surrounding masonry-clad buildings. Located between Madison Avenue and Fifth Avenue, the slim tower is topped out and will eventually open as a 161-room Hilton Grand Vacation Hotel. The project is designed by Handel Architects and developed by Hidrock Realty.
Work to prepare 270 Park Avenue for its demolition is continuing in Midtown East. Since YIMBY’s last update in late July, more scaffolding and netting have been installed on the lower section of the Modernist-style skyscraper. JPMorgan Chase is the developer of the project to tear down the 1.5-million-square-foot, 52-story tower and replace it with a 57-story supertall designed by Foster + Partners Architects, with Adamson Associates as the architect of record.
On Monday, YIMBY reported that One Vanderbilt’s crown is now structurally finished. Only two days later, the rest of the spire is almost complete for the 1,401-foot high supertall, designed by Kohn Pedersen Fox and developed by SL Green. Remaining sections for the 100-foot-tall spire have arrived on site, and were spotted on the eastern side of the property along Vanderbilt Avenue, as the initial components were lifted into place and installed atop the tower yesterday afternoon. Full completion of the spire is likely later today.
One Vanderbilt has reached a huge milestone as construction has topped out on the supertall commercial skyscraper’s tiered steel crown. Workers will soon begin assembly of the 100-foot-tall architectural spire, which will bring the project’s total height to 1,401 feet. Designed by Kohn Pedersen Fox and developed by SL Green, the 77-story Midtown East tower will have a three-story indoor and outdoor public observatory situated at 1,020 feet above street level. Construction of the spire could conceivably finish before the end of the week, given the tremendous speed with which One Vanderbilt has shot upward into the sky.