A weave of scaffolding and black netting has now shrouded the exterior facade of a former office building at 250 Fifth Avenue, which will soon be reborn as a hotel. The site is in NoMad, between West 28th Street and West 29th Street. With the facade designated as a landmark within the Madison Square North Historic District, the original five-story McKim, Mead and White structure, completed in 1907, will be part of the conversion that also calls for a new 23-story tower to the west of the original 111 year-old structure.
The newest Bjarke Ingels Group-designed project has now partially topped out. The taller 36-story component of the XI, at 76 Eleventh Avenue in Chelsea, has reached this milestone when just seven months ago, it was merely two stories high. With only a few months in between YIMBY’s visits, the enormous scale of the new building is quite shocking, as it rose incredibly quickly. The theatric nature of the twisting concrete sculpture certainly catches the attention of visitors from the High Line park, where many tourists are already snapping photographs. HFZ Capital Group is responsible for the development.
In exciting news for Sunset Park, plans for 6208 8th Avenue are now pushing closer to reality. A major proposal for the former railroad site in Brooklyn would create over one million square feet of mixed-use development. The structures would include commercial, residential, and community facility space. The site is next door to the 8th Avenue subway station, serviced by the N trains. Since YIMBY last checked in on progress, the design has not changed, but new information has now been released providing specific details for the proposal.
Located at 143 Fulton Street in the Financial District, the new 364-foot-tall and 298-room Moxy hotel is almost complete, with the final exterior finishes underway at the base of the tower. Two entrances to the building are located on Fulton Street and Ann Street, and up above, the project features a dark glass facade atop a four-story podium. SLCE Architects is the architect, while the developer of the nearly 129,000 square foot property is Tribeca Associates. Interiors are being done by Stonehill & Taylor.
While YIMBY normally covers aggregate new building applications on an annual basis, this year, we have released our first mid-year pipeline report, and the results are surprisingly positive. After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.