Photo via Douglas Elliman
CIM Group and Macklowe Properties announced on Wednesday that the world’s tallest residential building just broke another record: the single best-selling building in New York City. According to the developers, they have sold $2 billion in luxury condominiums at 432 Park Avenue, a 1,396-foot tower designed by renowned architect Rafael Viñoly. The building’s most significant closings include 48 residences selling for more than $20 million each.
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Image: Trump Soho; Donald Trump via Wikimedia Commons
After an 11-year economic slump, local protests and multiple lawsuits, the Trump Soho condominium and hotel at 246 Spring Street has officially become the Dominick Hotel and Spa. Last month, the Trump Organization cut ties with the property after making a deal with the building’s owner, CIM Group, to step away from the hotel amid a decline in room prices. Between 11 pm on Wednesday and 3 am on Thursday, workers removed the Trump Soho lettering from the facade of the glitzy 46-story hotel, literally erasing President Trump’s association with the building.
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Rendering of 247 Cherry Street via SHoP Architects
In an effort to slow construction of three residential towers in the Two Bridges neighborhood, City Council Member Margaret Chin and Manhattan Borough President Gale Brewer will submit an application to the Department of City Planning that forces the plan to go through the city’s land use review process. Developments at the waterfront site include a 1,000+ foot tower from JDS Development Group, a 1.1 million-square-foot development from L+M Development and CIM Group, and a 724-foot rental building from Starrett Development. According to Politico, the Manhattan pols hope the review process will encourage public scrutiny of the projects, including a demand for shorter structures.
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Image: Trump Soho; Donald Trump via Wikimedia Commons.
New York City has never, barring perhaps a short stretch of the go-go ’80s, been Trump country. But the Trump Organization’s high-profile Midtown properties blend with the area’s flow of international money and glamour-seeking tourists. Much further downtown, the Trump Soho condominium/hotel at 246 Spring Street has been at best a minor embarrassment in the neighborhood since the ambitious announcement of its birth on Donald J. Trump’s TV show “The Apprentice” 11 years ago. Now, what was launched as “an awe-inspiring masterpiece,” is being severed from the Trump fold, the New York Times reports. In addition to poor economic performance, the 46-story luxury hotel has attracted opposition from locals since its arrival, protests during Trump’s candidacy and scrutiny after the election due to its ties to a Russian dealmaker.
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A rendering of the proposed Brooklyn sign in place of the “Watchtower” sign. Image courtesy of Susanna Briselli.
“Brooklyn is a potent idea as well as a place,” according to Susanna Briselli, who explains in the Brooklyn Eagle that the borough’s name “summons vivid images and associations.” Briselli, who is an artist and photographer, suggests this potent chemistry is a compelling enough reason to create an enormous free-standing illuminated sign that reads “Brooklyn!” The massive work would be used to draw in more visitors and increase value, placed where the soon-to-be removed “Watchtower” sign in Brooklyn Heights now stands, or at another highly visible site such as Pier 7.
A sign of the times
For nearly 50 years, the neon red 15-foot-tall ‘Watchtower’ sign has sat atop the former headquarters of the Jehovah’s Witnesses luminously overlooking Brooklyn Heights. However, earlier this month, the religious group filed a permit application seeking to remove the sign. According to The Real Deal, this comes almost a year after developers Kushner Companies, CIM Group and LIVWRK Holdings purchased the spot at 25-30 Columbia Heights for $340 million with plans to convert the building into a 635,000-square-foot office complex, “Panorama.”
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Last summer, developers CIM Group, Kushner Companies and LIVWRK acquired the Jehovah’s Witnesses Watchtower building at 25-30 Columbia Heights in Brooklyn Heights for $340 million. The building, known for its iconic red sign, served as the world headquarters of the religious group for years, but they’re relocating to Warwick, New York. Now, work has begun to turn its three 19th century brick and timber buildings into 635,000 square feet of office space, as well as 35,000 square feet of retail and outdoor areas, as Fast Company reports. The new space will be known as Panorama, for its stunning views of the Manhattan skyline and Brooklyn Bridge.
See renderings of the Panorama complex
For new developments, 2015 was the year of reveals, but 2016 was all about watching these buildings reshape our city. Ahead we’ve narrowed a list of 12 news-making residential structures, each noted for their distinctive design, blockbuster prices, or their game-changing potential on the skyline or NYC neighborhoods.
Which of these you think deserves 6sqft’s title of 2016 Building of the Year? Have your say below. Polls for our third annual competition will be open up until 11:59 p.m., Sunday, December 11th*, and we will announce the winner on Tuesday, December 13th!
Learn more about each of the buildings in the running here
L to R: One Manhattan Square, 247 Cherry Street, 260 South Street, and 271-283 South Street. The image above, created by CityRealty, depicts the possible massing of the new towers; No official design has been released
When L+M Partners and CIM Group announced plans last May for two 50-story towers at 260 South Street, their project joined a growing list of controversial towers sprouting up along the Two Bridges waterfront, including Extell’s 823-foot condo One Manhattan Square, JDS and SHoP Architects’ possible 1,000+ foot rental at 247 Cherry Street, and Starret Group’s shorter rental at 275 South Street. Now, in what’s becoming a trend for the Lower East Side-meets-Chinatown ‘hood, L+M and CIM have revealed plans for their project that actually show increased heights of 69 and 62 stories, or 798 and 728 feet. As first reported by The Lo-Down, the developers plan to include up to 1,350 apartments, 338 of which will be reserved as affordable, senior housing, ground-floor retail, landscaped outdoor spaces by Mathews Nielsen, and an upgraded flood-protection system.
Renderings and more details ahead
Just in case you had trouble spotting the Western Hemisphere’s tallest residential tower, beginning Monday, 432 Park Avenue will debut a brand new lighting feature that will turn the 1,396-foot supertall into a glowing beacon. As LLNYC reports, 32 LEDs will fill the tower’s five open-air “drum floors” where the building’s mechanicals are situated. 432 Park‘s starchitect, Rafael Viñoly, worked with HDLC Architectural Lighting Design to develop the scheme.
more details here