Metal (aluminum) cladding has the capability with modern technology of now having the appearance of natural finishes, like wood and stone to a very fine degree. Again, this is just an instance of the Architect choosing a material over a different material, especially if cost wasnt a factor/issue. Even in the past metal was used over stone (like all the existing cast iron buildings in the city that look like brick and stone)
Outer shell material isn’t really factored into insulation values anymore, the actual insulation chosen (rockwool/mineral wool, XPS, EPS, figerglass, etc) is what is used to calculate insulation values. In this case and the most typically used in applications of a rainscreen facade, they are just rockwool battens.
Even though it may been confirmed, I have high doubts that this is natural stone, it’s more likely than not cast stone or even GFRC. Natural stone would absolutely never be used in an application where it will be hollowed/carved out (wasted) and left thin in such a shape/profile as it would be prone to cracking.
I finally went out to see this closer, and you can see air bubble at the corners and even small fibers coming out of the ends, which would be an indication of GFRC, but cast stone isn’t out of the question. It is not real/natural stone though. Both of them, being a cementitious mix, mimic natural stone extremely well though.
Regardless of what it is though, this will be a nice addition to Park Row when its done. It’s fairly discreet, but the simplicity in lack of ornamentation is nice.
It appears that they are just trying to finish waterproofing the structure first before continuing to install any insulation and the eventual cladding.
Anywhere you see the black waterproofing and/or the mineralwool insulation its safe to assume cladding will be installed shortly after, as is the case with the region of the building you’ve taken a shot of otherwise the majority of the building seems to be lacking both those 2 crucial elements.
But that right most side of the building seems to have all of its waterproofing on.