Construction on TSX Broadway has reached a significant milestone with the completion of the historic Palace Theatre’s lift to its new position 30 feet above street level within the podium of the 47-story Times Square hotel tower. The engineering challenge was overseen by Urban Foundation and Engineering and used a system of 34 hydraulic jacks to hoist the 14-million-pound venue at a speed of about a quarter of an inch per hour over the span of four months. Work will now commence on PBDW Architects‘ restoration of the theater, whose new elevated position will make way for 100,000 square feet of retail space at the base of the structure.
The Hard Rock Hotel at 159 West 48th Street is the newest hotel to open in Midtown, Manhattan’s iconic Times Square district. Designed by SLCE Architects and developed by Extell and Hard Rock International, the 442-foot-tall, 291,000-square-foot structure features 446 rooms and welcomed its first guests earlier this week. The rectangular reinforced concrete edifice is located by the corner of West 48th Street and Seventh Avenue and was built by AECOM Tishman. Rooms start at $475 per night.
Work continues to progress on the renovation and partial residential conversion of the Waldorf Astoria at 305 Park Avenue in Midtown East. Developed by Andrew Miller of Dajia US, the project is dubbed “The Towers of the Waldorf Astoria” and will yield 375 residences designed by Skidmore Owings & Merrill and Jean-Louis Deniot that range from studios to sprawling penthouses, as well as an extensive amenity offering. Douglas Elliman Development Marketing is handling sales and marketing of the units, Suffolk Construction Corporation is the general contractor, Pierre-Yves Rochon is in charge of the revamped hotel interiors, and Simon de Pury is the residential art curator for the 625-foot-tall Art Deco landmark, which occupies a full city block bound by Park Avenue to the west, East 49th Street to the south, East 50th Street to the north, and Lexington Avenue to the east.
Construction is set to resume on The XI, with a revised completion date of “Winter 2024” posted for the stalled two-tower mixed-use project at 76 Eleventh Avenue in Chelsea. Designed by Bjarke Ingels Group and developed by 76 Eleventh Avenue Property Owner LLC, the twisting 26- and 36-story structures have stood topped out and unfinished since late 2019, when reports of trouble began to surface about the former developer, HFZ Capital Group. In late 2021, Steve Witkoff purchased the property in a foreclosure sale for $900 million and partnered with Access Industries and Monroe Capital, and it now appears that the project is back on track, with an updated board at the property listing Suffolk Construction Corporation as the new general contractor, replacing Omnibuild. The full-block site is located adjacent to the High Line and is bound by Tenth Avenue to the east, West Street to the west, West 17th Street to the south, and West 18th Street to the north.
Lam Group and Exact Capital Group have closed on a $167.5 million construction loan to refinance Victoria Tower Residences, a 26-story mixed-use rental property in Central Harlem. The building is located at 233 West 125th Street, a site formerly occupied by the historic Victoria Theatre.