A Closer Look at the East Side Access Project

Construction has paused at the rapidly-rising 432 Park Avenue after an accident damaged a neighboring building, resulting in a stop-work order. The Department of Buildings reports that there were five safety violations found at the site on earlier this month, explaining the lack of workers onsite and lack of progress in recent days. The project has risen quickly, and the speed of construction is partially to blame for the accident. The site of the former Drake Hotel, named the most valuable construction site in the city, will be home to a 1,420-foot tall residential tower, the tallest in the Western Hemisphere.

In the most recent the violation, damage occurred to the parapet of 48 East 57th Street as safety-netting was being raised at the site.

Coincidentally, the owner of 48 East 57th is Jacobs & Co., which was the sole holdout against 432 Park's developer when it was acquiring land for the tower.

Safety violations are quite common in New York City, though stop-work orders are more infrequent.

432 Park's $1.25 billion price-tag means the ongoing pause in construction will be rather costly. Officials from the city's Department of Buildings hope the inconvenience will prompt CIM Development to review their safety standards for the site, as recent major accidents at One57, 303 East 51st Street, and TF Cornerstone's East Coast Long Island City have all been preventable.

The site of the former Drake Hotel, named the most valuable construction site in the city, will be home to a 1,420-foot tall residential tower, the tallest in the Western Hemisphere

The $1 billion tower will boast 128 only units, each with 12-foot high ceilings. Amenities will include a 5,000-square-foot enclosed driveway, golf training facilities and private dining and screening rooms.

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[see ElectricWeb | Blogger, Oct 19, 2011]
[see ElectricWeb | Blogger, Jan 6, 2012]
[see ElectricWeb | Blogger, Jan 20, 2012]