This will be New York’s next landmark, hopefully both Park Ave will go up. Towers (350 and 175) rise almost simultaneously. Hopefully more will be added soon (Roosevelt Hotel Site and 250 Park Ave.)
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can someone remind me when they’re gonna close and demolish the current building please?
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As of recently there hasn’t been an official date set for anything. The “initial” date was supposed to have been last year or even 2022 if I recal, but this hasn’t been on the front of my mind so I could be recalling incorrectly.
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„ Blending engineering and art
Existing conditions and constraints resulting from the below-grade rail lines limited touch-down areas for the new structure. Foundations for the supertall structure had to be supported directly upon rock, which was accomplished with a combination of footing and caissons strategically located clear of the rail lines.
The building core, which forms the spine of the building structure and encompasses the entire elevator system, is also constrained since only 40 percent of the core could extend down to rock.
The solution was a combination hanging and cantilevering core supported from a structural platform composed of super trusses spanning the entire site, with supporting mega columns located mostly along the edges of the tower. This structural system is linked to a beautiful exterior lattice frame, which completes the structural load path that directs the tower loads to the mega columns.“
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On SSP via NYguy
The group now aims to begin construction on the more than $4 billion, 1,575-foot-tall tower midway through 2025 and with significantly less pre-leasing than originally planned because of their growing confidence in demand. Asking rents at the tower will be above $200 per square foot, among the highest ever sought in the city.
“There used to be a point where we thought we would need to pre-lease all of it,” Rechler said. “Now, we think that at 500,000 feet, it’s probably enough to get going.”
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Let’s see if they actually start this time.
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I wonder, is the hotel still available to be booked a year out from now??
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Even if it does, they will just cancel reservations when a date is set, just as they did in The Mirage of Vegas in July.
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This seems like its just still a tentative and not a hardline date/timeframe, I wouldn’t be surprised if it still doesnt start in that period when it comes around.
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Per NYguy on SSP:
https://www.businessinsider.com/deve…a-tower-2025-1
RXR and TF Cornerstone are planning to apply for as much as $4.84 billion of federal loans to help pay for the tower, according to the document. The developers expect to spend as much as $6.5 billion on the project, a sum that includes about $550 million of accompanying transit improvements they will make as part of the project. The team is listed as having submitted a draft letter of interest in the federal money, a preliminary and non-binding step in applying for the funding.
The federal money is discretionary and administered by the US Department of Transportation, meaning that the incoming Trump administration — and possibly even the president himself — will have decision-making authority over which projects are ultimately awarded.
… Rechler said the project team behind 175 Park Avenue is exploring the federal loans because of lingering dislocations in the lending market that have made it difficult to source financing from private sector lenders.
…… RXR and TF Cornerstone are aiming to tap lending programs called the Transportation Infrastructure Finance and Innovation Act and Railroad Rehabilitation and Improvement Financing. The programs, known by their acronyms Tifia and Rrif, respectively, offer projects access to low-cost financing and long payback periods stretching 35 years or more.
…… To receive the financing, the 175 Park Avenue project must receive an investment grade credit rating from a major ratings agency and pass through a federal environmental review.
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Not sure about the rules on politics here, but I doubt Trump will be able to put his ego aside and provide funding for a redevelopment of his own development.
Although it’s possible that he would treat this and the transit improvements accompanying as a vanity project and endorse it. Who knows.
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He did do a photo-op at 270 Park so hopefully he could get behind this tower too.
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He hates NYC, he will do everything in his power to harm NYC because they don’t vote for him.
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There’s no such thing as “rules on politics” LOL. 
They can do whatever they want, and the law will not stand in the way.
I’m sure people in NY did vote for him…just because a singular state is shown as a certain color DOESN’T mean everyone who voted was that for that certain color/party. I’m sure we know this…it’s common sense. Also I hate to back up Trump…but his career started in NYC, he’d be nothing without it (along with a small loan of a million dollars) . And just in November he vowed to help NY state…but trust me, I’m not every gonna believe the words of a politician before (or during) they’re in power. But I’m also not a New Yorker so you OG’s can ignore me.
Remember everyone, two wings of the same bird!
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Of course people in NYC voted for him. The best example would be during Trump’s first term he refused to approve emergency funding for a wildfire in Orange County California until someone on his staff showed him that Orange County voted for him. I don’t think Trump gives a f*** about his origins and certainly does not think that he owes NYC anything, including his career.