Extell Development Company has announced the successful acquisition of $530 million in financing for Brooklyn Point, its first development in the borough. When complete, the 720-foot-tall structure will become the tallest residential tower in Brooklyn, surpassing The Hub, located just to its south.
Spotted a couple days ago, glass on the final section of One Manhattan Square, aka 252 South Street, has now reached the top of the 847-foot-tall tower, marking another major milestone of progress since work began back in 2015. Developed by Extell, and designed by Adamson Associates, it stands above the Lower East Side, and is directly adjacent to the Manhattan Bridge and the East River, along Cherry Street and Pike Slip.
On a plot of land along 48th Street between Sixth and Seventh Avenues, excavation has begun for a 445-key Hard Rock Hotel, designed by Berg+ Moss Architects. The hotel’s Times Square outpost will be developed by Extell in a partnership with Hard Rock International, with an address at 159 West 48th Street. Extell purchased the site back in 2011 for $26 million, along with air rights that bring the project up to a potential scope of 225,000 square feet.
Construction at Extell’s 138 Willoughby, aka Brooklyn Point, is moving along quickly, with concrete now at the tenth floor. Once opened, the skyscraper will complete the City Point mega-development in Downtown Brooklyn. The mixed-use multi-building expansion has already produced two residential towers and a 600,000 square foot retail space with a food market, grocery store, event space, and movie theater.
Few towers have as much separation from the rest of the Manhattan skyline as the Lower East Side’s One Manhattan Square. The building is without competition for views, rising 72 stories above one of New York’s most well-known neighborhoods. The next highest structure in its immediate vicinity is the Manhattan Bridge, which spans the East River into Brooklyn. Extell Development Company is responsible for the development, and Lendlease is responsible for construction.