Rendering by Hayes Davidson
The partners behind the Jean Nouvel-designed tower at 53 West 53rd Street (also known as the MoMA Tower) will be serving even more price chops to the ultra-luxury project in the midst of lackluster sales, though they disagree on how much that should be. As Crain’s reported, Hines, Goldman Sachs, and Singapore’s Pontiac Land Group recently underwent an arbitration process to settle the matter, with Hines seeking aggressive discounts. The 1,050-foot condo building has already received $167 million in price cuts since hitting the market almost four years ago with a projection of $2.14 billion in sales. About 15 percent of the 145 units at 53W53 are under contract currently, with closings set to begin in the spring, a spokeswoman for the project said.
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Rendering of the new development at 705 10th Avenue. Image credit: CetraRuddy
The New York City Department of Housing Preservation and Development (HPD) announced Wednesday that it will build approximately 260 units of affordable housing on two vacant city-owned sites in the Clinton/Hell’s Kitchen section of Midtown Manhattan, one at 806 9th Avenue and another located at 705 10th Avenue. According to a press release, HPD has selected two development teams who will partner with nonprofits to bring an array of services to the surrounding community.
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Exterior view of The Museum of Modern Art on 53rd Street. Rendering by Diller Scofidio + Renfro, courtesy of MoMA.
The Museum of Modern Art will be closed throughout the summer as it prepares to open its expanded campus on October 21st. The $400 million expansion, developed by MoMA with architects Diller Scofidio + Renfro in collaboration with Gensler, will add more than 40,000 square feet of gallery spaces and allow the Museum to exhibit more art in new, interdisciplinary ways. The final phase of construction will expand into Jean Nouvel’s new residential tower 53W53 and into the site of the demolished American Folk Art Museum. It will add innovative performance and education spaces, expand the MoMA Design and Bookstore, and add free street-level galleries on the ground floor that will make art more accessible for all.
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6sqft’s series “Where I Work” takes us into the studios, offices, and businesses of New Yorkers across the city. In this installment, we’re going inside the landmarked building of the Art Students League of New York in Midtown. Want to see your business featured here? Get in touch!
In 1875, a group of young students broke away from the National Academy of Design and founded the Art Students League of New York to pursue a new and more modern method of art education. What started as a small group of rebellious artists in a 20-foot by 30-foot space, turned into an internationally-recognized, landmarked institution, which continues to set the standard for art training today. In its 144th year, the Art Students League’s mission has remained unchanged since its founding: to spread the language of art to anyone interested in learning.
The nonprofit has been located in the American Fine Arts Society Building at 215 West 57th Street since 1892. A designated New York City landmark, the French Renaissance-style building was designed by Henry J. Hardenbergh, the architect behind the Plaza Hotel and the Dakota. Ken Park, the director of marketing and communication for the League, recently gave 6sqft a behind-the-scenes tour of the historic building and shared some insight into this storied establishment.
Progress images of 111 W57th Street; photo © Paul Clemence.
Even before reaching its final height of 1,428 feet tall, SHoP Architect’s Midtown supertall 111 West 57th Street, which surpassed 1,000 feet a few months ago, wowed us with views from the tower’s 64th, 72nd, and 73rd floors. Upon completion, the Billionaires’ Row tower will become the tallest residential building in the world, taking the title from 1,396-foot 432 Park Avenue, (until 1,500-foot Central Park Tower tops out). With a super slender frame (a ratio of 1:24), 111 West 57th Street is also set to become one of the skinniest skyscraper in the world. The new year brings new progress–and new photos showing the 86-story tower’s intricate terra cotta and bronze facade making its way skyward.
Terracotta and bronze: going up!
Manhattan Plaza (photo via LIHC Investment Group)
A lottery to snag a waiting list spot for Mitchell-Lama rental apartments in Manhattan Plaza at 400 West 43rd Street–where, according to the Hollywood Reporter, Alicia Keys was born and Samuel L. Jackson was the first security guard–has just opened (h/t CityRealty). Senior citizens and residents of all ages in Community Board 4 are eligible to apply for studio to one-bedroom apartments. Rents aren’t listed, but you can expect a significant discount from the neighborhood median of $3,000/month for studios and $3,600/month for one-bedrooms. There are four lists (community studio list, community studio elderly list, community one-bedroom list, community elderly one-bedroom list) with 500 spots available on each. The deadline to apply for all is January 31, 2019.
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The West 58th Street Coalition, a group of residents suing over the city’s controversial plan to open a homeless shelter on Manhattan’s Billionaires’ Row, has won a temporary injunction to halt construction at the former Park Savoy Hotel, the New York Post reported Thursday. The residents sued the city in July, claiming the proposed shelter posed a significant fire hazard and also fearing their new neighbors would usher in increased crime and loitering in the area as well as “un-quantifiable economic harm to the value of their property,” as court papers stated.
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It seems as if almost every day we hear of a new big-ticket sale on Manhattan’s “Billionaire’s Row,” the glittering corridor just south of Central Park in Midtown. Eight-figure sales at a growing collection of supertalls like One57, 432 Park Avenue and 111 West 57th Street seem almost ordinary. But it’s still possible to snag a home among the oligarchs and moguls: Two units on the market at the classic co-op building at 100 West 57th Street can be yours for $325K (for a studio) and $450K (for a spacious one-bedroom). If you’re looking for more than a pied-a-terre, you could even combine both contiguous units and still come in under a mil.
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There are 2.5 miles of public viewing along the parade route in NYC; this interactive map can help you find a great spot instead of getting lost in the crowd. The map, from the fine folks behind the parade, outlines when the parade will pass by, which streets have the best public views (6th Avenue from West 59th to West 38th Streets gets the thumbs-up) and which ones are restricted, such as Central Park South at Columbus Circle. Also marked are all-important things like coffee, food, and restrooms.
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Photo of Adriana Lima via Wikimedia
Sure, she sold her former Midtown West condo at nearly 50 percent off, but considering she’s Victoria’s Secret’s longest-running and “most valuable” Angel, we’re guessing Adriana Lima will be just fine to take the blow. The Brazilian supermodel bought the three-bedroom apartment at 146 West 57th Street in 2003 for $1,995,000. Six years later, she married NBA player Marko Jarić, and after the couple had two children, they put the 42nd-floor pad on the market for $5.5 million in 2013. But after five years, a 2016 divorce, and four price chops, the pad has finally sold, reports the Post, for the much-discounted price of $3.3 million.