Last month, the leasehold interest of the 45-story, 468-key DoubleTree Suites hotel (by Hilton New York City – Times Square) was purchased for $540 million by Indianapolis-based Maefield Development, according to The Real Deal. The mixed-use building at 1568 Broadway, between West 46th and 47th Streets in Times Square, currently contains ground-floor retail space and the Palace Theatre, which was designated an interior landmark in 1987. Last November, YIMBY brought you news of the proposed retail and lobby expansions, and the restoration (and raising) of the Palace theater for entertainment purposes. The building is set to receive a significant overhaul, which includes the hotel portion as well as the installation of a new, state-of-the-art LED screen.
As SL Green is developing Midtown’s largest commercial property at One Vanderbilt across the street from Grand Central Terminal, the company is also building the neighborhood’s smallest ground-up project at 719 Seventh Avenue, just one block north of Times Square’s northern terminus. Despite its diminutive four-story size, the retail building will assert itself via a 150-foot-tall, 5,000-square-foot array of digital billboards. On-site demolition is complete, and excavation is well underway. Pavarini McGovern LLC is listed as the construction manager.
It has been about three months since we checked in on the coming Robert A.M. Stern creation at 220 Central Park South. Progress has been made since then. Photos taken by our friend Tectonic show the tower portion of the building, which rests on West 58th Street, is several stories taller, approaching the 10-story mark on its way to 66 stories.
Development doesn’t happen often in Bensonhurst, an old-school Italian enclave close to the waterfront in southern Brooklyn. But as new immigrants – particularly Chinese families – flock to the area, developers have started to pay attention to the working class stronghold full of one- and two-family homes.
Just before New Year’s Eve, the Salvation Army filed plans for 11 stories of affordable senior housing and community facilities at the corner of East 125th Street and Third Avenue in East Harlem.