Construction Update: 855 Sixth Avenue

855 Sixth Avenue855 Sixth Avenue

Full renderings may be lacking, but construction at 855 Sixth Avenue has begun in earnest, where the Durst Organization is erecting a 41-story mixed-use tower (with the help of some foreign EB-5 investors looking for a slice of the American dream), as YIMBY previously reported.

The tower will be predominately residential, with 375 luxury apartments (20 percent of which will be rented at below-market rates), but will also include a sizable office component and 57,000 square feet of retail space.

855 Sixth Avenue

855 Sixth Avenue

Because the large development site bleeds into the industrial M1-6 zone between Sixth and Seventh Avenues, the developer cannot build the entire site to its highest and best use – luxury residential – and will therefore be including a substantial 127,000 square feet of office space on the second through sixth floors (to put that in perspective, that’s not that much smaller than the Jeanne Gang-designed all-office “Solar Carve” tower going up on the High Line).

While the office space won’t be as profitable as luxury apartments – and office space hasn’t been more profitable than residential space anywhere in the five boroughs for longer than we’ve been around – Durst will likely have no problem finding tenants. Unlike the towers going up at the World Trade Center and on the Far West Side, 855 Sixth sits squarely within the Midtown South subdistrict, where tech and creative companies are eager to lease space.

855 Sixth Avenue

855 Sixth Avenue

The tower should add some heft to an area that’s been crying out for height to accompany the once-lonely Empire State Building. And the partial renderings that have been released show a clean façade designed by Cook + Fox (SLCE is the architect of record), mercifully bereft of the PTAC heating and cooling units that normally pockmark rental buildings in New York City, but which are unheard of in office towers.

855 Sixth Avenue

855 Sixth Avenue

Per on-site signage, completion of 855 Sixth Avenue is expected in April of 2016.

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