Photo courtesy of Lord & Taylor

The biggest news to surface in the turbulent waters of the WeWork saga may be the multibillion-dollar bailout and takeover by Japanese company SoftBank following a failed IPO and a company valuation that skidded from a reported $48 billion to $8 billion in a matter of months. And as part of a scramble for cash, the office space sublease and coworking disruptor has been expected to divest of the Lord & Taylor building at 424 Fifth Avenue; WeWork purchased the high-profile property–the former home of the department store’s flagship location–with partners Rhone Capital and Hudson’s Bay for $850 million earlier this year. But, as Crain’s reports, the company may be trying to lease the 660,000-square-foot property to high-paying office tenants as a way to raise the needed funds.

Will the building be back on the market soon?

View looking north, with Central Park and the towers that dot Billionaires’ Row clearly visible; Photo courtesy of Empire State Realty Trust

After four years and $165 million, the revamp of New York City’s first supertall is nearly complete, bringing a more contemporary and visitor-friendly experience to one of the world’s most historic buildings. The Empire State Building’s 102nd-floor observatory, which boasts 360-degree panoramic views at 1,250 feet above street level, officially opens to the public on Saturday, Oct. 12. Building owner Empire State Realty Trust redesigned the observatory to be less obstructive for guests, allowing more picture-perfect views and less time waiting.

All the way up

Map data © 2019 Google

As a rookie in the New York City real estate game, Alex Rodriguez is trying to hit it out of the park. The former New York Yankee has picked up a second apartment building, a 14-story residence in Turtle Bay, as first reported by the New York Post. In June, A-Rod bought his first major Big Apple purchase, a 21-unit rental in the East Village with Barbara Corcoran, who founded the eponymous real estate firm and is an investor on the television show Shark Tank.

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Photo of One Vanderbilt © 6sqft

The Grand Central Terminal-adjacent supertall One Vanderbilt officially topped out this week, reaching its full 1,401-foot height. Designed by Kohn Pedersen Fox, the tower is now Midtown’s tallest office building and the fourth-tallest skyscraper in New York City. One Vanderbilt, developed by SL Green, measures 1.7 million square feet and boasts a unique terra cotta facade as well as the fourth-highest observation deck in the city.

Another supertall makes its mark

Photo credit: Evan Joseph for Empire State Realty Trust.

The Empire State Building unveiled today the second phase of a freshly reimagined $165 million Observatory Experience. The new second-floor gallery treats visitors to a series of nine individual exhibits, taking them on a digitally enhanced, experiential journey from the building’s construction to its current iconic cultural status. The 10,000-square-foot gallery’s redesign was led by experience designer Thinc along with team members IDEO, Squint Opera, Beneville Studios, Diversified, Intersection, Kubik Maltbie, Otis Elevator Company and Tenguerian Model.

Photos this way

Images courtesy of Flickr, Wikimedia Commons, and Pexels

Independence Day may have been last week, but if you haven’t had your fill of red, white, and blue festivities, Bastille Day is this Sunday. Whether you’re a history aficionado or just appreciate French culture and cuisine, there is plenty to do this weekend to celebrate the 230th storming of the Bastille.

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The Library After Hours. Image courtesy of NYPL.

Celebrate Pride Month at the library! As part of the New York Public Library‘s “Love & Resistance: Stonewall 50” exhibition, the doors at the Stephen A. Schwarzman Building are staying open on Friday, June 21 for the “city’s most cerebral happy hour.” The after-hours event offers access to the Rose Main Reading Room and other gorgeous library spaces, artist and curator talks, readings from the archives by special guests, a literary drag show with Drag Queen Story Hour, music, food, drinks and more.

All the info, this way

Photo by James and Karla Murray exclusively for 6sqft.

The redeveloped Waldorf Astoria residences have a new teaser website, and according to an announcement by the historic hotel’s owner, Beijing-based Anbang Insurance Group Co., the new condos will be called The Towers of the Waldorf Astoria. The Wall Street Journal reports that sales of 375 private residences at the storied hotel will begin in the fall.

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Photo via Wikimedia

Less than a year after moving out of the historic Seagram Building and reopening a new space, the famed Four Seasons Restaurant will close Tuesday, the New York Times reported. The news comes after the restaurant reopened last year on East 52nd Street with a $40 million renovation. And last December, former managing partner Julian Niccolini resigned after pleading guilty to sexual assault in 2016.

Get the details

Via Flickr

The New York City Council on Wednesday approved the first supertall to be constructed under the Midtown East rezoning. JPMorgan Chase will build a new 70-story headquarters at the site of its current offices at 270 Park Avenue. The rezoning, adopted by the city in 2017, affects more than 70 blocks around Grand Central Terminal and encourages the construction of taller, more modern office towers in the neighborhood. Designed by Norman Foster’s Foster + Partners, the 1,400-foot building is set to become one of the tallest structures in the city and the tallest office building by roof height.  More here