Cindy Xu of China Overseas America (in blue) and Jersey City Mayor Steven Fulop (to her left) at the groundbreaking for 99 Hudson Street.

Ground Broken for 99 Hudson Street, Jersey City, To Be New Jersey’s Tallest Tower

On Thursday, at a little before noon, a groundbreaking ceremony was held for 99 Hudson Street in Jersey City. Located on a site bounded by Hudson, Grand, Greene, and York streets, the 900-foot-tall mixed-use condominium tower will likely be the tallest building in the state and one of the tallest residential buildings in the entire country. The event not only kicked off construction, but also provided a venue to show off new renderings of the project.

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36 Central Park South

Developers Shelve Plans For Residential Tower At 36 Central Park South, Midtown

Over the summer, YIMBY brought you new renderings and details on the planned 88-unit luxury residential tower at 36 Central Park South, dubbed 1 Park Lane, which would replace the 46-story, 628-key Park Lane Hotel. The project was in the pre-development stages and advertised in the EB-5 program, but its developers, Witkoff and Macklowe Properties, are shelving plans for now, Bloomberg Business reports. Due to uncertainty in EB-5’s congressional reform, a slowdown in the Chinese economy, and an over-saturation in the ultra-luxury residential market, the Park Lane will remain as a hotel for the foreseeable future. Its operations and management are in the process of being repositioned, and Witkoff is in talks to refinance debt on the property.