When it comes to new construction in Jersey City’s Journal Square, no firm is more prominent than Kushner Real Estate Group, which has continued development of the massive Journal Squared complex with the recent ground-breaking of the project’s second skyscraper, now climbing above ground level. YIMBY spoke with the firm’s eponymous president, Jonathan Kushner, to discuss the site and its impending second and third towers, KREG’s general portfolio growth, as well as Mr. Kushner’s outlook on the state of the neighborhood and the local market.
Articles by Nikolai Fedak
Skyline-defining towers have proliferated across the Midtown and Lower Manhattan skylines since the start of the 2010s, with the new World Trade Center joined by clusters in Hudson Yards, and 57th Street. Now, as One Vanderbilt approaches the 1,000-foot mark, a new race is appearing on the horizon in Midtown East. First, JPMorgan announced plans for a 1,400-foot-plus behemoth at 270 Park Avenue. Today, renderings have been released for Harry Macklowe’s planned office tower at 5 East 51st Street, which the developer has dubbed “Tower Fifth”. The supertall would become the tallest building in New York City by roof height upon completion, soaring 1,556 feet and six inches above the streets down below.
YIMBY has covered plans for a new office building at 1241 Broadway extensively over the past few weeks, first reporting on the applications and initial rendering, and then checking in on site progress. Today, we can reveal the updated current design thanks to developer Michael Kirchmann of GDSNY, who also told us all about the project and its burgeoning surrounds in an interview ahead of the groundbreaking ceremony, scheduled for this morning. Sweden-based Klovern is also behind the plans.
Once again, January has arrived, alongside New York YIMBY’s annual pipeline report. After our mid-2018 update portended a banner year for new construction, the 2019 report has confirmed it, as the total number of multi-family units filed with the Department of Buildings saw a tremendous surge over the past 365 days. 2018 saw 32,580 multi-family units filed with the DOB, beating 2017’s total of 19,180 units by a whopping 70%. The full 2019 report, containing all 2,482 of 2018’s new building filings in spreadsheet format, is available at the following link for $199.
With the number of supertalls on the Manhattan skyline doubling within the past year, it is easy to forget about impending proposals not yet out of the ground. But now, the second supertall to result from the Midtown East rezoning is moving forward, with JPMorgan Chase filing a text amendment with City Planning for a 1,400-foot tower on the site of 270 Park Avenue. Designed by Foster + Partners Architects, the plans also come with the first renderings of the 2.4 million square foot supertall, and massing diagrams that offer a look at what’s in store for New York City’s most central business district.