Preparation for the demolition of 1568 Broadway is continuing to gear up as scaffolding and construction netting now shroud almost the entire 46-story Times Square tower. The 29-year old structure served as a DoubleTree hotel and will be replaced by a new hotel, with tenants yet to be announced. The proposed 550,000-square-foot development is called TSX Broadway and will preserve and lift the 106-year-old Palace Theatre three stories above the ground floor to make way for new retail space. The $2.5 billion project is being developed by L&L Holding Company, Maefield Development, and Fortress Investment Group.
Permits have been filed for a 21-story hotel at 223 West 46th Street in Midtown, Manhattan. Located between Broadway and Eighth Avenue, the lot is steps from the 49 Street subway station, serviced by the N, R, and W trains. Also nearby are the B, D, F, and M trains at the 47-50 Streets Rockefeller Center station and the C and E at the 50th Street station. Andrew Roufail under the SCLB 46th Street LLC is listed as the owner behind the applications.
The construction crane has been assembled at the site of the future Hard Rock Hotel at 159 West 48th Street, signaling that work is set to commence on the Times Square development. Located between Sixth Avenue and Seventh Avenue, the 225,000-square-foot, 445-room hotel is being designed by Berg + Moss Architects and developed by Extell in partnership with Hard Rock International. The plot measures 13,000 square feet and has yet to see the superstructure rise above street level.
The upcoming 29-story Margaritaville Resort at 560 Seventh Avenue is rising above Times Square and has already reached its main setback. YIMBY last checked in on the project back in early May, when it had just begun to ascend above street level. Sharif El-Gamal of Soho Properties is developing the site along with MHP Real Estate Services, and Stonehill & Taylor Architects is the designer. There will be a three-story restaurant, an outdoor swimming pool with plentiful seating and beach-themed motifs, and a rooftop bar called the LandShark Bar & Grill. The projected price for the resort hotel is expected to be around $300 million.
One Times Square, aka the Times Tower, is one of the most photographed buildings in the world. Millions of tourists from across the country and around the world constantly take photos of Times Square, formerly called Longacre Square, and the flashing digital advertisements that run nonstop year round. Even more view it during the annual ball drop and lighting of the four numbers at the start of every year since 1904. The culturally iconic and economically famous 25-story skyscraper stands 363 feet tall and is in the midst of getting a 21st century makeover. Six giant screens that once lit the slender northern wall have been taken down and will be consolidated into one 350-foot-tall LED panel. Jamestown is the owner of the property. One Times Square can be touted as the most expensive and lucrative place on the planet to advertise.