I love to follow the new construction in Manhattan. There’s so many new buildings going up right now – let’s take a look at some of them together!
262 Fifth Avenue, NoMad
262 Fifth Avenue in NoMad will be a 860 foot tall residential skyscraper. When construction first started I was amazed at the narrowness of the base. I was eager to find out what was planned. When I saw how tall it was going to be I was stunned.
The building has just about “topped out”, meaning the construction has reached its top floor. The building will be 56 stories with 26 condominiums. Each condo will average 3,200 square feet. Sounds pretty luxurious!
Originally the skyscraper was going to reach “supertall” status, at over 1,000 feet, but it has been scaled back to the current 860 foot design. This is the first building designed in the United States by the Russian firm Meganom.
This weekend I walked through Madison Square Park. As I approached from the south I realized how much this building blocks the view of the Empire State Building from the park. It was not a feel good moment. I’m far from a NIMBY (not-in-my-backyard) when it comes to new construction. I usually get excited over it, and am eager to see progress…but this was a bit of a bummer.
262 Fifth Avenue is scheduled to be completed some time in 2025.
45 Park Place, Tribeca
It feels like 45 Park Place in Tribeca has been under construction for a LONG time. Now that I’ve looked up the details…it has. There was over a two year halt on progress when the contractor withdrew in 2019. The crane sat atop the structure the whole time.
Construction started back up in 2022, and is estimated to be completed 2026.
The views look like they’ll be spectacular! See the website here.
The nicest unit, #38, is a full-floor residence, and under contract for $12,350,000. Monthly taxes are $4,856 and the common charges a cool $4,618.
Abandoned 161 Maiden Lane, Seaport District
Sitting just steps from the East River is One Seaport Residences at 161 Maiden Lane. Construction on this 52 story project started in 2016 but was stalled after it topped out in 2019. It was discovered that the building actually leans 3″ to the north, due to the way it’s foundation was constructed. It’s a long, sad story, including a fatality; you can find it on Wikipedia. At this point the project is entirely on hold. I wonder what will become of it.
1 Park Row, Financial District
Busy and historic Park Row is the new home of a unique, curvy building going up faster than the speed of light. 1 Park Row is 23 stories and will offer a mixture of condos, retail and office space. It’s an attractive building, really making the use of the tiny corner space.
This location is so busy, it’s right where Park Row meets Broadway and Ann Street, by City Hall Park. Practically across the street from the Woolworth Building…and Zara, which I love. This spot is the former home of electronics store J&R Music and Computer World.
1 Park Row is expected to be completed later in 2024.
JPMorgan Chase, 270 Park Avenue, Midtown
No article about current NYC construction would be complete without JPMorgan Chase’s 270 Park Avenue. Since the moment the first rendition was revealed I’ve been super excited, stopping by each week or two to check out the progress.
The massive project replaces the old Union Carbide building, built in 1960 and demolished in 2021. Incredibly, 97% of the old buildings materials were saved to be used in the new building.
JP Morgan’s world headquarters will be 1,388 feet high (60 floors) and fit up to 15,000 employees.
The stunning design and color is a real show-stopper. I’ve seen many folks just stop walking to look at it. The 24 columns will support the building over a 80′ high lobby with public space. It’s a little scary to think that the beams are holding up this giant, but I guess you’ve gotta trust.
The exterior glass is in front of the steel frame, instead of behind it. It’s a true modern, sleek feel.
According to Reuters, the cost is estimated to be $3 billion! Considering how profitable JPMorgan Chase is, they can afford it. 270 Park Avenue will become the tallest structure in New York completely powered by hydroelectric energy.
How to find 270 Park Avenue
You can see 270 Park Avenue by walking up Vanderbilt Avenue, between One Vanderbilt and Grand Central Terminal. You won’t be able to miss it!
270 Park Avenue is expected to be completed by Summer 2025.
Sources
262 Fifth Avenue
Yimby
Wikipedia
45 Park Place
Tribeca Citizen
Streeteasy.com
161 Maiden Lane
Wikipedia
1 Park Row
New York YIMBY
270 Park Avenue
Wikipedia
New York YIMBY
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