The final steel beam was ceremoniously lifted into place for the addition on 150 Fifth Avenue in the Flatiron District, in an event attended by leaders of L&L Holding Company and OC Development Management (OCDM). More than 100 construction workers, designers, and engineers were also present for the dedication and signed their names on the beam. The expansion features a two-story, 35,000 square-foot rooftop structure, part of a multi-million-dollar renovation and modernization of the landmarked 11-story building. The entire property will become the new home for Mastercard. STUDIOS Architecture is the design firm behind the project.
L&L Holding Company
Construction on 425 Park Avenue in Midtown is charging ahead toward completion, with the upper floors now taking shape. The 47-story, 897-foot-tall building is designed by Norman Foster, head of Foster + Partners, and is being developed by L&L Holding Company LLC. Adamson Associates is the architect of record. The final major elements yet to be assembled are the three glass fins that will stand atop the flat roof parapet. This architectural detail will define the tower among the surrounding buildings, especially when illuminated at night.
Black shrouds and scaffolding have gone up over 1568 Broadway’s lower floors as crews begin the process of removing its Times Square-facing billboards and marquees. Meanwhile, workers are beginning to gut the interiors of the 470-foot-tall tower ahead of its imminent demolition. Built in 1990, the current DoubleTree hotel will eventually make way for a new 46-story DoubleTree Suites by Hilton. The proposed 550,000-square-foot development, which will be called TSX Broadway, will preserve of the 106-year-old Palace Theatre by raising it three stories up from the ground floor, making way for retail space. The $2.5 billion project is being developed by L&L Holding Company, Maefield Development, and Fortress Investment Group. The site was previously purchased for $450 million.
While the flashing marquee lights and LED billboards of 1568 Broadway continue to brighten the crossroads of the world, the light bulbs and digital screens will one day turn off as the building prepares for demolition. Plans for the DoubleTree Suites by Hilton call for an entirely new 46-story, 550,000 square foot building dubbed TSX Broadway. The 106-year old Palace Theatre will be the only part of the original site to be preserved, structurally elevated, and integrated into the $2.5 billion dollar redevelopment. L&L Holding Company, Maefield Development, and Fortress Investment Group are the developers who purchased the site for $450 million dollars.
425 Park Avenue held its official topping-out ceremony on December 3, 2018. Its architect Lord Norman Foster, head of Foster + Partners, along with several keynote speakers including David Levinson of L&L Holding Company LLC and Masaoki Kanematsu of Tokyu Land Corporation spoke at the reception, held on the 20th floor of the the building’s first and largest tiered setback. The 41-story, 897-foot tall building is the 17th-tallest building under construction in New York City, and has grown out of the old remains of the original structure that formerly stood on site. The un-demolished section is being repurposed as part of Midtown’s first new full-block office skyscraper in over 50 years. The tower is being developed by L&L Holding Company LLC while Adamson Associates is the architect of record.