Midtown

Sneak Peak at Facade & Construction Update for 217 West 57th Street, aka Nordstrom Tower

8:00 am on February 2, 2016 By Nikolai Fedak

YIMBY has brought you continual updates on the progress of Extell’s 217 West 57th Street, a.k.a. Nordstrom Tower (officially Central Park Tower), and now we have the first photos of what the facade for the building will actually look like, as well as an update on progress. The image comes from an anonymous tipster and shows the glass that will appear over the top of the Nordstrom floors, crowning the retail podium in a series of undulating curves, and demarcating the boundary between the pedestrian realm and the supertall that will cantilever up above.

Renovations, Upgrades Underway At 40-Story Office Building At 437 Madison Avenue, Midtown

10:00 am on February 1, 2016 By Reid Wilson

The 40-story, 850,000 square-foot office building at 437 Madison Avenue, located between East 49th and 50th streets in Midtown, is currently receiving $60 million in upgrades and renovations, according to Real Estate Weekly. The outdoor plaza and the building’s lobby are being redesigned, building infrastructure is being upgraded, and new amenities are being constructed, including a 15th-floor sky lounge, garden terrace conference rooms, an arcade, and a yoga room. Construction began two years ago and completion is expected early this year. The Emery Roth & Sons-designed building was completed in 1967 and the William Kaufman Organization has owned it ever since. Fogarty Finger is designing the renovation. Medallion Financial Corp. recently extended their 18,650 square-foot lease in the building.

32-Story Office Building Redevelopment Underway At 390 Madison Avenue, Midtown

6:30 am on February 1, 2016 By Reid Wilson

A year ago, YIMBY brought you new renderings of redevelopment plans for the 24-story office building at 380 Madison Avenue, between East 46th and 47th streets in Midtown. By removing certain floors within the building, the structure will grow to 32 stories but will retain the same square-footage. According to the Wall Street Journal, the process is well underway, with 18 percent of the original building in total expected to be removed and used for a vertical expansion. The completed building, called 390 Madison Avenue, will have 663,419 square feet of commercial space, most of which will be office space, although the first two floors will contain double-height retail space. L&L Holding Company is developing the project and Kohn Pedersen Fox is designing it. Completion is expected in early 2017.

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

6:00 am on January 29, 2016 By Reid Wilson

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.

Final Renderings for 220 Central Park South Show Slight Design Changes

8:00 am on January 28, 2016 By Nikolai Fedak

Back in May of 2015, YIMBY posted renderings from SLCE Architects featuring the Robert A.M. Stern Architects-designed 220 Central Park South. Since then, construction on the building has made major headway, with the structure now reaching past its tenth floor, and now we can post the building’s final look, thanks to an ad placed by developer Vornado in REBNY’s new booklet.

Request For Proposals Issued For Penn Station Expansion & Renovation

4:00 pm on January 27, 2016 By Reid Wilson

Earlier this month, news broke that Gov. Andrew Cuomo was moving forward with plans to upgrade Pennsylvania Station, between West 31st and 33rd streets on Eighth Avenue in Midtown, and now the state has issued a Request For Proposals (RFR) for the project, dubbed the Empire Station Complex. According to Curbed NY, the document highlights plans to build a main entrance on Eight Avenue, which would entail demolishing the Theater at MSG. In addition, it would connect the station to the proposed new tracks of the Gateway Project, which includes new tunnels under the Hudson River and Amtrak’s expansion into Moynihan Train Hall (the Farley Post Office) and the connecting concourse, along with other upgrades. The renderings were created by Skidmore, Owings & Merrill, although the selected team could go ahead with a different firm. Proposals are due by April 22.

Local Politicians Spearhead Request by 26th Floor Resident Of The Sovereign for 250-Foot Height Limit in Vicinity

8:00 am on January 26, 2016 By Nikolai Fedak

On Friday, Crain’s reported on a rezoning proposal to downzone Sutton Place and institute a 260-foot height limit on new developments in the area. What wasn’t reported was the real cause behind this not-so-arbitrary figure: the leader of the East River Fifties Alliance, Alan Kersh, happens to live on the 26th floor of The Sovereign, which at 47 stories tall, is almost double the height limit its residents want to force on new buildings in the blocks to the south.

Four-Story, 35,000 Square-Foot Retail Project Planned At 257-263 West 34th Street, Midtown

6:00 am on January 26, 2016 By Reid Wilson

Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.

Ziegfeld Theater To Be Converted Into An Event Venue At 141 West 54th Street, Midtown

6:00 am on January 22, 2016 By Reid Wilson

The Ziegfeld, a 1,300-seat, single-screen movie theater at 141 West 54th Street, between Sixth and Seventh avenues in Midtown, is expected to be transformed into an event venue, according to the New York Post. The converted building, to be renamed Ziegfeld Ballroom, will offer a column-free, 10,000 square-foot ballroom, meetings rooms on a mezzanine level, and “advanced electronic facilities.” The well-known movie theater will close within the next few weeks, at which time its tenant, Cablevision, will cut operations. The conversion is expected to be complete in 2017. Fisher Brothers is the building’s leaseholder.

Financing Secured For 16-Story, 618-Key Hotel Conversion At 485 Seventh Avenue, Garment District

4:00 pm on January 18, 2016 By Reid Wilson

In March of 2015, the Landmarks Preservation Commission approved alterations that would go into converting the 16-story, 235,000 square-foot office building at 485 Seventh Avenue, at the corner of West 36th Street in the Garment District, into a boutique hotel. The property, an individual landmark, was completed in 1907 as the Mills Hotel No. 3, a male-exclusive, 1,885-unit single-room occupancy residential hotel. The Lightstone Group is planning to convert the property into a 618-key MOXY Hotel by Marriott, and Commercial Observer reports $330 million in financing was secured for the project. Retail space and a restaurant will be located each on the ground and second floors. Stonehill & Taylor Architects is the architect of record.

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