Commercial

150 East 78th Street Completes Construction on Manhattan’s Upper East Side

Construction is complete on 150 East 78th Street, a 16-story residential building on Manhattan’s Upper East Side. Designed by Robert A. M. Stern Architects and developed by Midwood Investment & Development and EJS Group, the 205-foot-tall structure yields 68,293 square feet with 25 condominiums and 3,700 square feet of ground-floor retail space with frontage along Lexington Avenue. Compass Development Marketing Group is handling marketing and sales for the three- to five-bedroom homes. Ismael Leyva Architects served as the executive architect and residential layout designer for the building, which is located at the corner of East 78th Street and Lexington Avenue, a short walk from the 6 train at the 79th Street station.

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View of 45 East 53rd Street - Courtesy of Newmark

Joint Venture Secures $175M to Purchase and Renovate 45 East 53rd Street in Midtown, Manhattan

Newmark, a global real estate services company, has successfully arranged $175 million in capitalization to facilitate a major renovation of 45 East 53rd Street in Midtown, Manhattan. Located in the Plaza District, the building once operated as the New York headquarters for Santander Bank, but sold in April to ZG Capital and Rialto Capital Management.

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417 Park Avenue Readies for Excavation in Midtown East, Manhattan

Excavation is set to begin at 417 Park Avenue, site of a 220,000-square-foot office tower in Midtown East. The project is being developed by GDS Development (GDSNY) and Klövern AB, which acquired the property for $184 million and are also building on an adjacent plot to the south at 409 Park Avenue. The plot is located at the corner of Park Avenue and East 55th Street and will rise with a floor area ratio of 25 under the Midtown East Rezoning regulations.

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RIU Hotel Opens to Guests at 145 West 47th Street in Times Square, Manhattan

Construction is complete and occupancy has begun at the RIU Plaza Hotel, 48-story skyscraper at 145 West 47th Street in Times Square. Designed by Berg + Moss Architects and developed by Tribeach Holdings, the 519-foot-tall structure yields 353,000 square feet and 630 rooms. Transom Builders Group served the general contractor for the property, which is located between Sixth and Seventh Avenues, a short walk from the heart of Times Square at the intersection of Broadway and Seventh Avenue.

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