, Thu, September 14, 2017
A rendering of 666 Fifth Avenue, courtesy of Kushner Companies/Zaha Hadid Architects
In 2007, Kushner Companies purchased a 41-story tower in Midtown for $1.8 billion, which was the most expensive real estate deal ever in the U.S. at the time. The transaction of 666 Fifth Avenue, coordinated by Jared Kushner, now a senior advisor to President Donald Trump, was ill-timed, making the purchase just before the economic recession. As the Washington Post reported, the Fifth Avenue project is one of the most financially troubled for Kushner Cos., with one-fourth of office space empty, and its lease revenue not covering monthly interest payments. While Kushner has divested his stake in the property to avoid conflicts of interest, the property’s value has dropped and foreign entities have withdrawn financial support. Currently, Kushner’s dealings are under investigation by special counsel Robert Mueller, as part of the broader investigation into Russian collusion with the Trump campaign.
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520 West 28th Street via Zaha Hadid Architects
Just last month, closings began on Zaha Hadid’s 520 West 28th Street, a structure 6sqft crowned as Building of the Year in 2016. Now, rental apartments at the luxury residential building have officially hit the market (h/t Curbed NY). The late architect’s signature curved and organic architectural style is complemented with interiors like a marble-clad kitchen island, glass walls and energy-efficient lighting. In total, the building has 39 units, with three currently on the rental market: Units No. 31, No. 17 and No. 18. The three units range from $15,000 per month to $22,500 per month.
Take a peek inside
The architect’s signature curves and organic indoor and outdoor architecture made the late Pritzker Prize winner Zaha Hadid’s 520 West 28th Street 6sqft’s Building of the Year. Now, closings have begun in the stunning Chelsea condo, starting with a pair of two bedroom units. Residences 9, which sold for $6 million, and 14, which sold for $6.2 million, are 2,147-square-foot two-bedroom homes with private balconies.
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As part of its relaunch, Google Earth, a program that allows users to explore the planet virtually, now features guided tours of projects by various architects, like Frank Gehry and the late Zaha Hadid. As ArchDaily learned, the relaunch allows users to orbit the entire globe in 3D, instead of simply exploring isolated cities. It also enhanced the web application’s accessibility, with searches within the app providing snapshots of information about the places. Plus, using the app is free of charge and users do not have to pay or install any software.
Explore the Google Earth relaunch
Just a few days after the first anniversary of Zaha Hadid‘s death, developer Related Companies has revealed the first look inside the apartments at 520 West 28th Street–the Pritzker Prize-winning architect’s first (and possibly only) NYC project. The first is a 4,500-square-foot, $15 million four-bedroom designed by Jennifer Post, combining her signature elegant, minimal aesthetic with Hadid’s futuristic, architectural vision. The other is a 1,700-square-foot, $4.9 million unit from West Chin who employs his signature modern style in a way that complements the building’s signature curves and organic indoor and outdoor architecture. Both spaces will serve as the building’s sales gallery before the anticipated June 2017 move-in.
See all the renderings here
A year ago today, Zaha Hadid’s sudden passing at age 65 rocked the architecture world. Best known for her signature swooping and curving forms and for being the first female to win the Pritzker Prize, she surprisingly has only one project in NYC, the under-construction 520 West 28th Street. Likely due to an unwillingness to tame her energetic visions to suit a developer’s bottom line, the majority of her work envisioned for the city remains unbuilt. To mark the one-year anniversary of her passing and to pay tribute to her “larger than life” creations and personality, 6sqft has rounded up Zaha Hadid’s projects and proposals for NYC.
All the projects, this way
A rendering of 666 Fifth Avenue. Credit: Kushner Companies/Zaha Hadid Architects
As 6sqft previously reported, 666 Fifth Avenue owners Kushner Companies and Vornado Realty Trust have been seeking financing for a new skyscraper planned for the site of the Midtown office tower that Kushner purchased for $1.8 billion in 2007; Chinese company Anbang Insurance Group is said to have been considering a substantial stake in the tower. Though it was reported that the redevelopment could be valued at $7.5 billion, the Wall Street Journal now cites sources who say the value could be as much as $12 billion, and that a reported deal with Anbang may be far from a sure thing. That huge number represents the projected value of what Kushner envisions as a 1,400-foot-tall mixed-use luxury tower with a design provided by the late Zaha Hadid in 2015, nine floors of retail, a hotel and big-ticket luxury condos on its upper floors.
Find out more about the possibly maybe very big deal
Related Companies is looking to expand on Chelsea‘s cultural character as a world-famous art district, as well as expand this “gallery corridor” north towards Hudson Yards, as part of an initiative called The New West Chelsea. According to a press release from the developer, they’re adding 15 new gallery spaces around their luxury condo at 520 West 28th Street, the late Zaha Hadid‘s undulating High Line stunner. A new space called High Line Nine, which will be located next to the condo and under the elevated park, will be modeled on a European galleria, complete with nine “boutique exhibition spaces,” a cafe/wine bar with outdoor seating, catering kitchen, and amenity packages. They’ll also add four galleries within the base of the condo, as well as two stand-alone spaces on the block.
More renderings and details ahead
Zaha Hadid Architects has released a new video in which the firm’s late principal, internationally celebrated starchitect Zaha Hadid, discusses the ideas that influenced the iconic, innovative and controversial design of her first residential project in New York City, the High Line adjacent 520 West 28th Street, developed by Related Cos. The 11-story residence was voted 6sqft’s 2016 Building of the Year and is currently nearing completion.
‘more freedom to innovate’
You came, you voted, and now it’s time to award the title of 2016 Building of the Year to none other than 520 West 28th Street! The undulating beauty along the High Line beat out 11 other game-changing buildings in a fierce two-week competition held right here on 6sqft. Out of nearly 25,000 votes cast, the Zaha Hadid-designed, Related Companies-developed structure emerged as the winner, taking away 8,382 of the count, or 33.62% of the total.
more details on the runners-up