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405 Park Avenue’s Demolition Continues in Midtown East, Manhattan

By Michael Young

Demolition is progressing at 405 Park Avenue, the site of a possible new skyscraper in Midtown East, Manhattan. Though original plans called for a renovation and addition atop the existing 17-story occupant, full demolition permits were issued for the structure in January 2021. MRP Realty is the owner and Titan Industrial SVC Corp. is the demolition contractor for the property, which is located at the corner of Park Avenue and East 54th Street.

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425 Park Avenue. Rendering by Dbox, courtesy of Foster + Partners

YIMBY Scopes Views From Foster + Partners’ 425 Park Avenue in Midtown East, Manhattan

By Michael Young

YIMBY toured 425 Park Avenue, a completed 47-story commercial skyscraper in Midtown East and the first new full-block building constructed along Park Avenue’s Plaza District in nearly half a century. Designed by Lord Norman Foster of Foster + Partners and developed by L&L Holding Company, Tokyu Land Corporation, and co-managing partner BentallGreenOak, the 897-foot-tall tower yields 667,000 square feet of flexible Class A office space with panoramic views up and down Park Avenue and over Midtown, Manhattan. Adamson Associates Architects was the architect of record, WSP was the structural and MEP engineer, R&R Scaffolding provided the BMU, and Tishman Construction was the construction manager for the property, which is located between East 55th and East 56th Streets.

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YIMBY Scopes Views From Central Park Tower’s $250 Million Penthouse in Midtown, Manhattan

By Michael Young

YIMBY recently had the opportunity to check out the views from the penthouse of Central Park Tower, a 131-story supertall residential skyscraper at 217 West 57th Street on Billionaires’ Row in Midtown, Manhattan. Designed by Adrian Smith + Gordon Gill and developed by Gary Barnett of Extell, the 1,550-foot-tall tower yields 179 units including the triplex penthouse, spanning nearly 17,500 square feet. Ryan Serhant of SERHANT is marketing this coveted unit, which hit the market on September 19 for $250 million, the most expensive home ever listed in the United States.

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YIMBY’s 2022 Q2 Report Reveals Sustained Filing Volume from April Through June in New York City

By Vitali Ogorodnikov

Figures for new construction permit filings for New York City for the second quarter of 2022 are in, and YIMBY’s latest analysis reveals that a number of positive trends emergent in the year’s first quarter have continued at a sustained pace. During the period spanning April, May, and June, the Department of Buildings registered permit filings for a combined total of around 13.1 million square feet, which, among other uses, includes 9,997 residential and hotel rooms. Although the square footage of the average filing is slightly smaller compared to the first quarter, the 857 new permits filed in the second quarter almost exactly match the total of 862 filings in the previous quarter, with both figures substantially exceeding quarterly averages from the previous year. Below we share a detailed analysis of the aggregated permit data. The full data set on which we based our research is available with a subscription to YIMBY’s Building Wire service.

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YIMBY Scopes the Views From Central Park Tower at 217 West 57th Street in Midtown, Manhattan

By Michael Young

YIMBY took an exclusive tour of the top floors of Central Park Tower, a 131-story supertall at 217 West 57th Street in Midtown, Manhattan and holder of the titles of tallest residential building in the world and tallest structure in New York by roof height. Designed by Adrian Smith + Gordon Gill and developed by Extell, the 1,550-foot Billionaires’ Row skyscraper yields 179 condominiums designed by Rottet Studio and marketed by Corcoran Sunshine, as well as a 320,000-square-foot, seven-story Nordstrom retail podium bound by West 57th and West 58th Streets and Broadway and Seventh Avenue.

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