„It’s the end of the road for the giant iguana that’s been parked on the side of 240 West 54th Street for two decades.
A developer based in Flushing, Queens, snapped up the longtime home of Iguana New York and plans to replace the defunct restaurant and Latin dance club with a residential development, Commercial Observer has learned.
“It’s right smack in the middle of Midtown, so it would make a great hotel site,” Brodhead said. “But the uncertainty and contingencies with getting a special permit for a hotel this small meant it didn’t pencil out. Residential seemed to be the best bet.”
The exact plans for Hiwin’s residential property aren’t clear, but the developer also recently acquired another Manhattan development site at 112 Liberty Street earlier this year, as CO previously reported.“
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https://www.crainsnewyork.com/real-estate/hiwin-group-usa-files-plans-demolish-two-midtown-buildings
A Flushing-based real estate firm that’s been redeveloping some of the area around Penn Station now has its sights set on a project about 20 blocks north, records show.
Hiwin Group USA, which acquired a pair of Midtown West buildings last year for a combined $31.5 million, submitted plans this week to demolish them, according to permits filed with the Department of Buildings Tuesday.
The Queens builder, led by CEO Anthony Hu, snatched up 240 W. 54th St., a 4-story building once occupied by the now-shuttered Mexican restaurant and dance club Iguana, last May. About five months later, it bought 236 W. 54th St., a 4-story building formerly home to a sports bar and comedy club.
Harry Song, a representative for the firm, filed the permits to raze both properties on behalf of the developer, records show.
Hiwin Group has not yet submitted plans for what it intends to build on the soon-to-be demolished lots, between Broadway and Eighth Avenue, nor did it respond to a request for comment by press time. It’s likely, however, given the company’s other projects, that the site will include a combination of residential and retail, and perhaps even luxury condos.