In the borderlands between Hell’s Kitchen and the Upper West Side, much of the new development ends up looking glassy and unremarkable. But today, YIMBY checks in on a new, loft-style building under construction at 351 West 54th Street, between Eighth and Ninth avenues, courtesy of prolific photographer Tectonic.
Newmark Holdings and Northwind Group have purchased the 20-story office building at 40 Exchange Place, in the Financial District, for $115 million, according to Crain’s. They plan to renovate the property to accommodate small to mid-sized office tenants. Renovations will include significant changes to the lobby and the building’s common spaces, as well as the addition of retail space on the ground floor. Natixis Real Estate provided a $65 million acquisition loan and a $16.5 million construction loan.