A $79 million construction loan was recently issued for 250 West 49th Street, a 28-story residential building currently under construction in Midtown, Manhattan. Designed by S Wieder Architect and developed by Chess Builders, the tower will yield 138 units and 2,500 square feet of ground-floor retail space. The loan was facilitated by S3 Capital.
Amenity space at 250 West 49th Street will include an art room, music room, golf simulator, library, screening room, fitness center, outdoor lounge, bocce court, zen garden, and an outdoor cinema.
The project, which is located at the corner of Eighth Avenue and 49th Street, will benefit from a 35-year tax abatement under the 421-a program. Demolition permits were filed in August 2022 for the eight-story building that previously sat on its lot.
Transit nearby the property includes 49th Street subway station, served by the N, R, and W trains.
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Another award-winning ground floor design…
nice roof terrace if it’s built as rendered.
NO YIMBY here. but there was a nice pre-war loft building here before.
convert and build on top would have been nice.
Would have made cool soho style lofts apts
The building its replacing was mid. The only thing worth saving and reusing would have been the 8 medallions on the façade.
That dark little setback from the street wall looks like a good place to get mugged/murdered. They gotta change that street wall.
One wonders why anyone would want to live on Eighth Ave. and 49th St. with the migrant hotels, drug rehabs, scaffold enshrouded buildings and many homeless and mentally ill folks walking around.
NYC zoning should have never allowed street level setbacks from the street wall (unless it’s for something like the Seagram’s building!)…midtown is filled with sad little courtyards (?) at suburban style tourist hotels, just awful…”NY I love you but you’re bringing me down”…
The aerial renderings are beautiful, and I hope the top of the building doesn’t tilt 3 inches away: Thanks.