Commercial

Work Remains Stalled on KPF-Designed Skyscraper at 3 West 29th Street in NoMad, Manhattan

8:00 am on November 23, 2023 By Michael Young and Matt Pruznick

At number five on our Turkey Week rundown of stalled and on-hold projects is 3 West 29th Street, a planned 34-story skyscraper in NoMad. Originally designed by Bjarke Ingels Group and developed by HFZ Capital Group, the 551-foot-tall structure, dubbed “29th & 5th,” was expected to yield 600,000 square feet of office space, but work shut down after HFZ defaulted on the project. Vanbarton Group purchased the development in the ensuing foreclosure sale and retained Kohn Pedersen Fox to redesign the building, but progress has yet to materialize. The through-block property is located between Fifth and Sixth Avenues adjacent to Marble Collegiate Church, and extends north to West 30th Street.

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540 West 21st Street Remains Stalled in Chelsea, Manhattan

8:00 am on November 22, 2023 By Michael Young and Matt Pruznick

The fourth entry on our Turkey Week rundown of stalled projects is 540 West 21st Street, a 20-story mixed-use building in Chelsea, Manhattan. Designed by Adamson Associates and originally developed by Casco Development Corp. under the 540 West 21st Street LLC, the 250-foot-tall structure was planned to yield 34 condominium units with an average scope of 3,370 square feet, as well as 43,510 square feet of commercial space. Suffolk Construction Company was the contractor for the project, which is located at the corner of West 21st Street and Eleventh Avenue, directly across from Hudson River Park.

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JPMorgan Celebrates the Topping Out of its Supertall Headquarters at 270 Park Avenue in Midtown East, Manhattan

8:00 am on November 21, 2023 By Michael Young and Matt Pruznick

Construction has structurally topped out on 270 Park Avenue, JPMorgan Chase‘s 1,388-foot supertall headquarters in Midtown East. Designed by Lord Norman Foster of Foster + Partners with Adamsom Associates as the architect of record and developed by Tishman Speyer, 60-story skyscraper will yield 2.5 million square feet of office space with a capacity of 15,000 employees, and is the tallest project currently underway in New York. AECOM Tishman is the general contractor for the property, which spans a full city block bound by East 48th Street to the north, East 47th Street to the south, Park Avenue to the east, and Madison Avenue to the west.

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David Adjaye’s Affirmation Tower Remains on Hold at 418 Eleventh Avenue in Hudson Yards, Manhattan

7:30 am on November 21, 2023 By Michael Young and Matt Pruznick

The third entry in our Turkey Week rundown of stalled and on-hold construction projects in New York City is Affirmation Tower, a 1,663-foot mixed-use supertall at 418 Eleventh Avenue, just north of Related Companies‘ first phase of Hudson Yards. Designed by Sir David Adjaye of Adjaye Associates and developed in collaboration between Cheryl McKissack Daniel of McKissack & McKissack, The Peebles Corporation, Exact Capital Group, and the Witkoff Group, the 2-million-square-foot structure would easily wrest the title of tallest building in New York by roof height from Extell’s Central Park Tower, surpassing its parapet by more than 100 feet. The development’s 1.2-acre plot, dubbed “Site K,” was also the site selected for the long-stale Hudson Spire proposal, and is bound by West 36th Street to the north, West 35th Street to the south, Eleventh Avenue to the east, and Hudson Boulevard to the west.

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