Moin Development and SBE have received a $109 million loan for their planned SLS Hotel at 444 Park Avenue South, in NoMad, Commercial Observer reports. The former 14-story office building is being expanded to 20 stories and converted to 190 hotel rooms; multiple restaurants are also planned. Fortress Investment Group provided the loan, which recapitalizes and restructures existing debt. Completion is slated for Spring 2016.
Last December, YIMBY posted the first preliminary renderings for 281 Fifth Avenue, a 52-story condominium tower that will soon begin construction on the southeast corner of 30th Street and Fifth Avenue. Permits for the project were filed early last month, and now YIMBY has obtained the first actual rendering of the glassy building, which is being designed by Rafael Viñoly.
A landmarked five-story, turn-of-the-century office building at 250 Fifth Avenue, on the corner of 28th Street in NoMad, may become a hotel and grow a 23-story tower behind it. Alteration applications were filed yesterday to expand the building to 23 stories, but the developer tells us that the single-story storefronts on 28th Street, behind the hotel, will support the new tower.
According to Curbed, HFZ Capital is converting the 19- and 13-story former rental buildings, at 88 and 90 Lexington Avenue, in NoMad, into condominiums. The buildings will be combined to share a lobby and 8,000 square feet of amenities, but the number of planned condominiums has yet to be revealed. Workshop/ADP is designing, and sales will launch in the coming weeks.
In December, YIMBY revealed plans and possible renderings for a 51-story tower at 281 Fifth Avenue, and now permits have been filed for the high-rise condo development at the corner of 30th Street.