Thursday, February 27, 2014

Super Tall Condo Breaks Ground at 610 Lexington Ave

Excavation has finally begun for a new 712-foot glassy tower slated to rise behind the Seagram Building at 53rd Street and Lexington Avenue The vacant lot at 610 Lexington Avenue was once destined to hold New York's first Shangri-La hotel, but was stalled by the 2008 recession. Now, six years after it was first proposed, it looks like Midtown will be getting that tower after all.

RFR Realty recently secured a $70 million bridge loan from the Union League Life Insurance Co. to begin construction at the long-vacant lot that it owns on the corner of East 53rd Street.

The developer is now moving forward with plans that were re-conceived last year. The building will have a mix of residential and commercial space, and while Shangri-La was involved with the tower’s initial conception, the hotel component has now been shelved.

Of the skyscraper’s 273,598 square feet, the bulk will be dedicated to residences, while 23,267 square feet in the tower’s base will be for commercial use.

A restaurant will sit on the second floor, as well as a separate dining and wine bar, while the third story will have offices.

Residences will span the remainder, with just two ‘super-luxury' units per floor, while levels 47 through 59 will feature full-floor units. The tower will have 91 units in total.

SLCE Architects, whose past projects include the Bloomberg building at 731 Lexington, and the Top of the Rock observation deck at Rockefeller Center, designed the glassy 59-story structure planned for the southwest corner.

RFR Realty had originally planned to build a 60-story hotel tower to be operated by the ultra-luxury brand Shangri-La at 610 Lexington Avenue.

Under that proposal, the Shangri-La would have contained 200,000 square feet of space.

The plan fell through during the economic downturn and the developer had to scramble to hold onto the property, ultimately arranging a deal with lenders

RFR Realty owns a collection of well-known buildings in the city, including the Seagram Building on the western side of the same block and Lever House across Park Avenue.

Completion of 610 Lexington Avenue is expected in the winter of 2017.

Visit Our Sponsors

Page Views

Since October 1, 2011