Friday, August 14, 2015

Arab Nation to Construct 27-story Mixed-Use Tower near UN

An oil-rich Middle Eastern nation has plans to build a huge 27-story mixed-use tower, just a few blocks from the United Nations. The United Arab Emirates will soon commence construction of a new consulate building at 315 East 46th Street, between First and Second avenues in Midtown. The 392 foot structure, designed by Skidmore Owings & Merrill, will be chock-full of space for official embassy use.

The new 165,000-square-foot building will have a lobby and an auditorium on its first two floors, a conference center on the third floor, and offices on floors four through 20.

Floors 21 through 24 will be devoted to nine luxury apartments for its ambassador and embassy officials. The top three floors of structure will hold the building's mechanical elements.

Building plans also call for a 75,170 square-foot “community facility.”

The property, located between First and Second avenues, is close to the United Nations and surrounded by consulates and permanent missions.

The United Arab Emirates bought the site for $44.7 million back in 2009 from a developer who went into foreclosure during the recession, while six-stories into building a 24-story glass tower.

Still, the property traded for $3.75 million more than what was paid for it just two years earlier.

The partially built six-story tower has since been razed, to make way for the new consulate.

Fisher Brothers, a developer based in Midtown, is the development and construction manager for the Middle Eastern government.

The project is the latest instance of New York developers working with with foreign governments on Manhattan projects.

Last year, the Republic of Senegal joined forces with a New York developer to build a 22-story mixed-use tower at nearby 227 East 44th Street.

Visit Our Sponsors

Page Views

Since October 1, 2011