YIMBY recently checked in on four mid- and high-rise construction projects taking place across Midtown East, Manhattan that are set to deliver new housing units and upgraded commercial space to the neighborhood. The properties are all located between First and Fifth Avenues and East 54th and 59th Streets, with nearby access to the 4, 5, 6, E, F, N, R, and W trains.
New York’s next skyline-changing skyscraper took a big step forward this week with the closing of a joint-venture agreement for 350 Park Avenue, an approved 1,400-foot supertall in Midtown East, Manhattan. Designed by Foster + Partners and developed by Vornado Realty Trust, Rudin, and Ken Griffin, the 66-story structure will yield 1.9 million square feet of Class A office space. Griffin’s company Citadel Enterprise America will serve as the anchor tenant, occupying 1.05 million square feet, according to Steve Cuozzo at the New York Post. The 53,000-square-foot property is located between East 51st and 52nd Streets.
L&L Infinite has completed the acquisition of 600 Third Avenue, a 42-story office skyscraper in Midtown East, Manhattan. Designed by Emery Roth & Sons and completed in 1970, the 590-foot-tall structure spans 575,254 square feet and changed hands at a valuation of $245 million. L&L Infinite is joined in the joint venture by affiliates of Mack Real Estate Group, BLDG Management, and BD Blakely, and secured a $215 million acquisition loan from Bain Capital. The property is located between East 39th and 40th Streets.
Façade installation is progressing on Lucien, a 35-story residential tower at 303 East 44th Street in Midtown East, Manhattan. Designed by ODA Architects and developed by Bruklyn Builders, the 470-foot-tall structure will span 89,043 square feet and yield 131 rental units along with 8,006 square feet of commercial space. The property is located on an interior lot between First and Second Avenues.
Work is progressing on the office-to-residential conversion of 750 Third Avenue, a 34-story tower in Midtown East, Manhattan. Designed by Gensler and developed by SL Green Realty, the $805 million project will span 761,384 square and yield 639 rental units. The building will also contain ground-floor retail and a collection of amenities. The property is bounded by Third Avenue and East 46th and East 47th Streets.