Nightingale Properties and Wafra Capital Partners recently launched a campaign to draw in $860 million in construction financing to redevelop an existing office building in Manhattan’s Financial District. Located at 111 Wall Street, it is estimated that redevelopment costs will max out at $1 billion.
The Empire State Building has been undergoing a restoration project since June 2019 to return the iconic landmark to its original silhouette. Now in its final stages, photos reveal the restoration of the 1930s Art Deco luster on the Midtown edifice. Empire State Realty Trust, along with project managers JLL, master riggers from ColeNYC, and CANY Architecture and Engineering have joined forces to return the structure to its original architectural design.
Demolition work is ramping up at 1 Park Row in the Financial District, where a mixed-use building is planned to rise. Little information has been disclosed on the scope of the new project, which is designed by Fogarty Finger Architects and developed by Guardian Realty Management, since plans and renderings were released in December 2017. According to the depiction, the development could stand at least nine stories high.
Construction is several stories above street level and rising at 450 Eleventh Avenue, a 487-foot-tall, 531-room hotel from Starwood Hotels & Resorts Worldwide in Hudson Yards. Designed by DSM Design Group and developed by Marx Development Group, the 43-story tower is one of several new high-rise projects ascending to the north of Related Companies‘ first phase of Hudson Yards, across from the Jacob K. Javits Center. The boom in construction is gradually transforming this previously underdeveloped area of Midtown West into a thriving mixed-use destination.
The Landmarks Preservation Commission (LPC) is currently reviewing proposals to construct a five-story office building at 72 Grand Street in the Soho Cast Iron Historic District of Manhattan. The site currently sits vacant with frontage along both Grand and Wooster Streets. If approved, the new building will top out at nearly 88 feet including all required mechanicals.
