Retail

Demolition Begins for Rolex Headquarters at 665 Fifth Avenue in Midtown, Manhattan

Demolition has begun on 665 Fifth Avenue, where Rolex is replacing its former 12-story International Style headquarters with a modern 21-story tower in Midtown. Designed by David Chipperfield Architects and developed by Rolex Realty Company LLC, the new building will feature office space and retail frontage. Howard I. Shapiro & Associates filed permits last summer for the project, which is located on an 11,050-square-foot parcel at the intersection of Fifth Avenue and East 53rd Street.

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Rendering of Walker House (CetraRuddy / Inglese Architecture & Engineering)

Brewery and Rock Climbing Gym Debut at Historic Walker House in Newark, New Jersey

Newark’s historic Walker House at 540 Broad Street is now home to a local brewery and a 22,000-square-foot indoor rock-climbing gym, the latest phase of a multimillion-dollar redevelopment plan led by LMXD, Prudential Financial Inc., and Goldman Sachs Urban Investment Group. Located in the heart of downtown, Newark Local Beer and Method Climbing + Fitness sit below 20 stories of rentals that debuted in 2020.

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The XI Prepares to Resume Construction at 76 Eleventh Avenue in Chelsea, Manhattan

Construction is set to resume on The XI, with a revised completion date of “Winter 2024” posted for the stalled two-tower mixed-use project at 76 Eleventh Avenue in Chelsea. Designed by Bjarke Ingels Group and developed by 76 Eleventh Avenue Property Owner LLC, the twisting 26- and 36-story structures have stood topped out and unfinished since late 2019, when reports of trouble began to surface about the former developer, HFZ Capital Group. In late 2021, Steve Witkoff purchased the property in a foreclosure sale for $900 million and partnered with Access Industries and Monroe Capital, and it now appears that the project is back on track, with an updated board at the property listing Suffolk Construction Corporation as the new general contractor, replacing Omnibuild. The full-block site is located adjacent to the High Line and is bound by Tenth Avenue to the east, West Street to the west, West 17th Street to the south, and West 18th Street to the north.

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View of construction at Zero Irving

Sigma Computing to Lease Space at Zero Irving at 124 East 14th Street in Union Square, Manhattan

Sigma Computing has committed to leasing space at Zero Irving, a 21-story technology hub under construction at 124 East 14th Street in Union Square. Designed by Davis Brody Bond and developed by RAL Development and Junius Real Estate Partners, the building will offer a mix of space for affordable and market-rate offices, tech incubators, co-working suites, and training centers.

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